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To: hitsoft17 who wrote (63011)	3/26/2000 9:15:00 PM
From: Aggie	Read Replies (1) \| Respond to of 95453

Hitsoft, Archimedsiii, hello Lots of boats are sitting idle right now. I know that, a few months ago, Trico Marine boats were parked in Invergordon, along with a bunch of others. I have paid, in 1997 / 98 about $18,000/day for 16,000 hp vessels and considered myself lucky to get'em. Those same boats were spot-chartering for $2500/day a couple of months ago. AHTS vessels (anchor handling, tow, and supply) have been a glut on the market for the past 6 months, especially in the North Sea. The situation is not too different now, but is expected to change by the fourth quarter. I've been told by brokers that a 4500 hp boat will go for around $8500 by then, but I personally think that's on the high side - $6500 is more like it for a semi-long term contract. Companies like Tidewater, whose fleet is older, has been putting off the 20-year surveys and mothballing boats instead. This is a sound strategy, to defer this typically high-cost procedure (usually around $300K for preparation and remediation of tanks, hull, equipment, etc.). Once the business turns around, companies like Tidewater, which is cash rich, will begin building boats which can compete with the likes of Trico, i.e. high bollard-pull big anchor handlers which have plenty of thrusters, dynamic positioning, and can handle the deep water work. Just my 2 cents. I'm long on Tidewater, but not Trico. Regards and anchors aweigh Aggie