Trico Marine Services (TMAR) Message Board

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

TMAR 22.41

0.0%

Nov 7 9:30 AM EST

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To: Grommit who wrote (612)	7/29/1998 10:26:00 AM
From: D.J.Smyth	Read Replies (1) of 1153

it's still a tight boat market and will get tighter as new builds can't compete in a $6K environment. contracts for new builds are being cancelled, shoved back. you can profitably run a new build in Asia at $4500 a day and in the Persian gulf as the type of boat required for use in those two regions differs from the type of boat required in the US gulf and wages there are proportionately less. you can't run a new build in the US gulf for $6K a day where wages and operations costs are significantly higher. they were building those 80 new supply boats to enter the gulf market over the next three years based on day rates remaining at $7500 a day. now however; several new entrants want out of their building contracts - cash to operate them won't be there.

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