Where is MRM going?, page-138

now we know why the share price has been smashed......

EBITDA in the region of A$75 - 85 million for the full year but with a low level of visibility of demand for the second half of the financial year.....

Overall utilisation for the first quarter was 52% for the international fleet and 61% for the Australian fleet

chk the Ann Rpt for a "1%" movement in valuation of CGU's .........there is a substantial asset write-down a-coming (like 250-300m) ......

if you take DD&A and interest off the above number - the company is going to report a loss ......

this (imho) will force the board to cut the divvy .....

MMA is trading within the banking covenants and is actively working to reduce debt through asset sales. Whilst the sale and purchase market is difficult we have seen more interest in our vessels in recent times. MMA has a young and well maintained fleet which is attractive to other operators seeking specific vessels. To date we have contracted approximately A$22 million in vessel sales and are continuing to pursue other sales opportunities.

the 22m wont cover the cash requirements for the newbuilds ($130m capex remaining –2 PSVs for INPEX production support -contracted –3 Specialised vessels under construction in Batam )

can anyone tell mw what "class" of vessels the 3 in batam are please ?

rgds
V_H