My research has pointed me to different conclusions. The...

My research has pointed me to different conclusions. The majority of the new builds have already been contracted prior to there completion. It is absurd to think you would scrap vessels without going through a thorough process of trying to market them which is happening, $22m in revenue so far. To get the same revenue from scrapping @$20/t you would need 1.1mt of steel to equal and that's not taking into consideration the cost of scrapping. MMA is an established company, as for others do they have industry contacts in Australia? An indepth knowledge of the local hazardous environment on sea or multiple supply bases to operate from? As for shale it is not efficient, more than 40% of oil extracted from well within first year or two, then refracting much occur to take place due to inefficiencies of oil flow. To continue producing oil at the same rate shale companies must keep drilling at alarming rates which in current conditions is just not profitable, not to mention the debt obligations they must repay as well for previous wells. I'm not saying this company is worth its previous high of over $4, or $2 for that matter, the current conditions MMA are operating in are brutal but with current management efforts they are doing quite well, cash in bank, assests on books with current debt it is worth considerably more percentage wise than current sp.