Trico Marine Services (TMAR) Message Board

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Gold/Mining/Energy : Trico Marine Services (TMAR)

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To: D.J.Smyth who wrote (474)	6/23/1998 10:23:00 AM
From: Grommit	Read Replies (1) of 1153

Thanks for answering. Looks like 80% utilization is about right. This article agrees with the call I had with TDW. "About six weeks ago, 90 percent of Tidewater's fleet was working and 10 percent was in for maintenance, which is the ideal situation for the world leader in support vessels. Today about 80 percent of the fleet of more than 200 vessels is at work, said Ken Tamblyn, executive vice president and chief financial officer. Ship rates have fallen at the same time from a high of $9,000 per day to a range of $7,000 to $7,500 a day. The reason for the tumble is that more boats are being built ''at the same time as we discern a slowing in activity because of lower oil prices,'' Tamblyn said. The company is cutting the number of new employees and is in a position to handle the slowdown because of its size and its debt-free balance sheet." source: nolalive.com Your comments about stock price manipulation and stock buy back are wishful thinking or paranoia. Do not count on it. Also, I suggest that you do not think that day rates are limited by some magic $4500 number. I would put an idle boat out to cover just variable costs if I thought it would not affect rates on other boats. TDW also threatened to maintain market share at all costs. This stock could go much lower.

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