[QUOTE=Saltine;150004]2015 will be a blood bath for the shelf operators in the GOM. All of the operators with vessels in the 110’ - 200’ range and DP-1 will be in trouble for the next 6 plus months. We’re already seeing 170’ DP-1’s going for as low as $3,00/day and others are being stacked daily due to the low demand for vessels. I feel bad for a lot of the mariners in this class of boat as lots of people will probably be unemployed in the near future.[/QUOTE]
Unless you are specifically speaking of “all the operators” with new vessels, I don’t believe I can agree with your statement. As with some of the other doomsday projections of the shelf on this thread. I see a lot of consolidation happening on the shelf with 3-4 players buying up and doing lots of work to get these new acquisitions up and running with a more streamlined and cost effective approach. Of course there will always be the dumb shit analyst of wall street that tend to make people adjust the market with frantic sell outs, (seems like we actually have some wanna be wall streeters here in this thread, amazing how they turned out boat trash instead). By the bye it’s a good time to buy a little TransOcean, Seadrill & such here in the next few months for your portfolio. The small Mom & Pops with these 100 to 200’ vessels that they didn’t wager the farm on are in much better position to hold on than these medium to large companies that are just trying to keep up with the Mr. Garys IMO. Might even be more appealing to the shelf companies to pick us up @ $3,500/day versus the new giant crew boats that can’t make their note and pay the crew @ that rate, not to mention haul that much more equipment or water than we can to make it feasible. Spent August, Sept., Oct, in Cameron and Fresh Water City and Martin’s docks (albeit small and derelict) in both places were bustling and lots of new construction + added wharfage being put in place. Spot work and steady for 90 days for 2 different companies all doing work on new assets in the area. Now back in the Fourchon and my little company actually had on us on two jobs in the same 48hr period pulling double day rate. Yep I see a lot of boats pushed up, but noticing less of us old 2nd hand crew boats in the mud the last 3 weeks, same with the older utility and supply vessels, seems to be the pricey ones complaining the most. Though I do appreciate the concern and am sure some of it is warranted, I have been able to pull some straight time due to my little company’s 7 boats (all crewboats, only one has a contract) working steadily through this downturn. Shoot I’ve been able to pull all the time I want due to others wanting off for the holidays, and believe you me I’m pulling it to pad the coffers in case this thing gets really drawn out. Of course I could always go back to yachts… nawh…