Gulf Marine Services Share Discussion Threads

[unnavailable] 25/5/2018 09:34

After some consideration last night, I halved my position first thing this morning and took a very small hit. The first tranche i purchased was under 40p and I suspect it now might fall back under those levels.I had been adding on the way up, expecting a stronger update. But felt overexposed and not comfortable fighting this current trend. Especially with it being a Friday and the latest opec news.Will consider buying again if it does infact fall back under 40p

[unnavailable] 24/5/2018 16:54

Current oil price is ok. Too high and it lowers demand. Stability is what's important.I think it this needs some positive news to keep it from falling back to the lows. New contract wins, funds buying, etc.Some brokers have raised their targets to 70p since the update.

[phowdo] 24/5/2018 14:52

Perhaps the last of Gulf Capital being cleared out on that volume (circa 50M)

[phowdo] 24/5/2018 12:53

Crude coming off a bit as the press speculate that OPEC might increase production. That would be bad for GMS right? Oh wait a minute...

[richtea2517] 24/5/2018 12:48

Not sure if this is a top up opportunity...

[trident5] 23/5/2018 07:50

Looking at the AGM results - there was some dissent about directors' pay and the re-election of one director.

[xxx] 23/5/2018 02:55

Does anyone know the terms of the debt ? Libor linked or fixed etc ? TIA

[unnavailable] 22/5/2018 13:34

I topped up again just before the dip. It wouldn't surprise if this finishes positive for the day.

[my retirement fund] 22/5/2018 13:27

Hope everyone topped up on that dip

[petes5] 22/5/2018 13:05

Not really. These vessels are expensive

[338] 22/5/2018 12:56

more than $25 millions for working capital requirements and expenditure incurred on mobilising vessels for new contracts... is a lot, isn't it?

[richtea2517] 22/5/2018 09:53

Bounce back up maybe

[phowdo] 22/5/2018 08:10

Utilisation to increase.
Day rates to increase.
Debt to reduce.

Some of the language is cautious ie. "gradually", but that's what you'd expect at this point in the cycle.

[unnavailable] 22/5/2018 07:21

What do yous think?. Slight increase in debt is maybe the only negative. Immeterial, though.Oil still marching on. We'll see what the market makes of it soon.

[unnavailable] 18/5/2018 10:31

I doubled up this morning at 47p. The next trading update will determine whether I'm right or wrong here. Not too bothered about price action until then.

[my retirement fund] 18/5/2018 10:25

180,000 at 52.57p

[bmw30csl] 18/5/2018 09:09

It likely would but we aren't likely to be in that scenario.

[trident5] 18/5/2018 08:52

BMW - a distress sale of the vessels (which is the real valuation concern) would bring in buttons.

[bmw30csl] 18/5/2018 08:23

What I like here is the assets which they mainly built themselves so the book value is understated - they will de gear in most scenarious so the transfer of EV to equity from debt is ticking along - I can imagine many people think the banks will force an equity raise due to the high leverage but the debt is asset backed by the vessels (admittedly the banks would struggle to put them to work!) and the banks have played nice to date and got a few fees along the way.

[unnavailable] 17/5/2018 21:04

I bought in around 2 weeks ago. From a macro view, it seems all the signs are looking positive at this point.From a micro view, I think management are doing a good job.Agm due next week. Possible trading update. If positive, this easily sails back to 75p, imo.Being honest, I feel like this is so obvious that I must be missing something. I've dipped toe and will watch price action early tomorrow.

[my retirement fund] 17/5/2018 17:03

Indeed trident I want to see the 45p level has the balls to withhold any stale bulls whom are likely to be prompted to cut and run in the next week first though.

[bmw30csl] 17/5/2018 17:01

Just what you want at this part of the cycle - a levered oil service company that is delevering and is cheap on all metrics with very reasonable expectations for 2018 and 2019. 2019 revenue forecasts of $177mn are well below 2014-2016 despite more high end vessels and a bigger overall fleet.

[hpcg] 17/5/2018 16:15

Averaging up is definitely the best policy

[trident5] 17/5/2018 13:58

MRF - your time has come, it's 46 to buy now