RE: not posting again for a a while.8 Sep 2019 22:16
ned.
I wasn't intending to reply.
my whole thoughts are (and I will post again on another oiley as its also effected) that the oil price and thus day rates are going to have an effect. turnover of 130 to 140 is breakeven point.
savings might help a bit. exchange rates too and less transport costs site to site as well as modifications.
the workload is up and the turnover has halved. this is because of low day rates. its industry wide.
gfd seemed to think refinancing was they key. seafox were happy to offer 18pps (my thoughts were they were going to run the assets down slightly) to get the short term savings, but they have gone quiet.
realistically the fleet is worth hundreds of millions (and relatively new) so at this point my thoughts are of better day rates to come (and gms buying its own stock and holding on to it at such a low price top retain control and reduce any form of takeover threat should such loan facilities become available).
at this price it looks a sitting duck. (no pun intended gfd). its a falling all the way. yes your right. as you will see with my other posts. its a tough sector tbh at the moment.