Set to grind higher, page-30

I would suggest that as there is only a market for older vessels they are recorded at 30%. They can be fitted to other uses.
The more expensive newer vessels are most likely recorded at cost or an assumption of future discounted cash flows.
Fantastic to see people asking these sorts of questions. I am no expert in the OSV market - it's just the sense I get from the announcements.
What do you value a vessel with no market at? If course I am making a worst case assumption but if you look at the value of those sold and the value of the remaining fleet - the vessels still owned are more valuable. Sort of backing up my assumption.
Liquidating the company is not a good option. They should raise capital ASAP with their options dwindling.
It's very frustrating as they only need to get through the next 6-12 months according to their statements to market. They shouldn't run so close to the bloody wire.
I am still watching for the right time to buy. Patience is a virtue.