Her are a few factors I think may be contributing to declining...

Her are a few factors I think may be contributing to declining share price:

Expected drop in vessel utilisation, therefore lower earnings. Primarily result of increased competition.
Higher labour costs for supply base operations.
US litigation.
No transparency on expected earnings following BIS base acquisition.
A director with stock overhang.

We are touching on 12 month lows here - in fact the last capital raised was at $2.61 some 19 months ago. Maybe when it gets to $2.50 the latest esteemed member of the board might fill his boots and buy some stock.