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Ultrapetrol (Bahamas) Ltd. Message Board

  • stan1736 stan1736 Oct 14, 2011 8:53 AM Flag

    Another NY Times article...

    about the expansion of Petrobas drilling activity off the coast of Brazil. This can't but help ULTR's off-shore supply business. The river business is expanding. Yet the stock price languishes and management can't seem to turn a profit. Thoughts of other shareholders would be appreciated.

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    • I'm hopeful for some meaningful profitability in 2012. A lot of the higher costs on the river take a year or so to be passed on to customers since their contracts are usually like for 12 months or so.
      I'm not sure why they brought PSV #8 to the North Sea for $25K per day on contract when they probably could have gotten $30K per day in Brazil. Who knows when those Indian PSVs will be delivered. Hopefully they have two more within the next 9-12 months.
      Bottom-line they need to start generating some positive cash flow. Oh and a real explanation of that $19M payable they can't seem to collect on would be nice. I love how they just glossed over that. It is a huge number to this company. The fact that they brush it off is very disconcerting. I hope they disclose more details in the Q3 10Q.

    • profits next year all the work is starting to pay back looks good

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