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Gold/Mining/Energy : Trico Marine Services (TMAR) -- Ignore unavailable to you. Want to Upgrade?

To: Don Westermeyer who wrote (228)	4/6/1998 2:02:00 AM
From: William Nelson	Read Replies (2) \| Respond to of 1153

I think there's cause for fear in both tmar and hmar. Picture these companies, both loaded with debt from aggressive expansion, in a scenario where day rates fall 20% (why not? they rose 20% a year the last 2 years....this attracts competition.) It would be ugly- I think they'd both lose money. Tmar would lose more since hmar is somewhat diversified. In any case, I see this scenario as perfectly possible. Maybe someone can elighten me? Or think of this: why are people selling boats to them? If I owned a bunch of boats, and rates were going through the roof, I think I would hesitate to sell...and if I sold, you can bet it wouldn't be cheap.