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Non-Tech : Hvide Marine HMAR - High Growth, Undervalued

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To: Robert T. Quasius who wrote ()5/4/1998 2:18:00 PM
From: Grommit  Read Replies (1) of 547
 
TDW CC

my summary -
Rates and utilization continue to be strong except a little softness in Nigeria where TDW has moved boats away to West Af & South America. Good to hear TDW is moving boats around instead of dropping dayrates as implied they would do in GOM market 3 months ago.

Dayrates:
Int'l dayrates especially continue to go up. "Strong Market" $5655 in Dec Qtr, $6060 in qtr just ended, $6200 today.

GOM is also "Nice and Strong" The period 3-4 weeks ago where there was some reduction in rates is now "gone past us". GOM rates are essentially flatish. They say of the last 40 or so recontracts -- some decreased and some increased. Ave was $7853 (dec act), $7877 (mar act) and is $7900 now (est).

They are not building supply boats and want to squash any rumors. Excluding negotiation for a special builds which would be on long term contract with potential customers.

I could not hear the Q&A -- maybe there were not any? All else was just peachy.

messages.yahoo.com@m2.yahoo.com
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