Where has the market gone?

The chart above is from the Olympic restructuring presentation given to the market this week. Of all the data points I have seen recently this one summed up the current market to me more than anything. Olympic are a great operator, with great assets and backup infrastructure, and even then the cupboard is bare. There is nothing more to say really. Recovery looks a long way off and the optimists who talk of a boom in IRM projects this year look deluded.

Have a look at the fleet quality underpinning this lack of work:

olympic-vessels

One thought on “Where has the market gone?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s