Trico Marine Services (TMAR) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

TMAR 22.47

+0.3%

Nov 5 2:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Stephen L. Smith who wrote (872)	10/7/1998 6:43:00 PM
From: D.J.Smyth	Read Replies (2) of 1153

<<Additionally, from earlier this year into 1999, another 80 new builds are entering service. this shall drive down utilization and day rates. Some will argue that the new builds are to service deep water exploration, however, there are not enough deep water rigs under construction to absorb the number of new builds.>> some of your info is correct, i.e., projected earnings. but 80 new builds is one year old news. there is no longer 80 new builds entering the market. the number, according to TDW, is probably 1/3 that now. most of the new builds were projected when day rates were around $9000 a day. they've scuttled most of the contracts as they can't operate in a $4000 day rate environment as the average cost to run most new builds exceeds $6000 a day (depending on the boat type). call around to the ship builders, find out whose building ships for rig service (other than barges) - zip. as for your rig count being down 20; not according to HMAR, TDW or TMAR which reports utiliz still around 80%. utiliz for TMAR is still around 70%, although they are drydocking some boats to cut costs. as for the picture getting worse: TMAR is already trading at 30% of what they could sell the boats for on the open market ($17 to $18 over a six months span). even a fire sale would bring $11 to $12 a share. you sound like a short wannabe. TMAR at $5 is a goof. even if they make $.01 a quarter all year next year, they still should be trading at $13 to $15 on a pure fire sale basis your barge overcapacity information is questionable as to how it pertains to TMAr or TDW since these two companies are not in the oil hauling barge business.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next