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

To: JZGalt who wrote (919)	10/26/1998 1:02:00 PM
From: D.J.Smyth	Respond to of 1153

obviously TDW's dayrates in the US gulf at $6600 avg this qrt moving at $4900 currently should be good news for TMAR as they've historically averaged higher than TDW for supply boats in the US gulf. a positive note TDW mentioned was that utilization for supply boats in the gulf was currently increasing over the just ended qtr. which would imply (a) more rigs and/or (b) fewer operating boats relative to competition - since TMAR is the second largest operator in the gulf one may presume that TMAR would experience the same uptick in utilization going forward. intl. day rates for supply boats are increasing currently over the just ended quarter which should also prove positive for TMAR. day rates in the North Sea are noted for the exceptional strength over the rates where TDW principally operates - Persian gulf and China Seafor. the predictions of doom obviously won't come true this year with these rates. by "heading lower" in the US gulf, we should assume a slight reduction from $4900 for the remainder of the year (with upticks coming next year), but nothing of the magnitude that some were predicting.