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Whilst i do realise Tango1 and Whatamess are of outstanding intellect i will answer you comments.
Whatamess - Firstly i was born within a few minute drive from Wallsend shipyards, thus i'm acutely aware that the shipbuilding industry has been decimated, and a part of this is thanks to our beloved globalist govt preferring to favour Jonny Foreigners skilled workers over our own; using the claim it is cheaper. Well the initial bill maybe cheaper but that doesn't add on the social security benefits, police, prisons etc... it costs to keep unemployed Jonny Englishman on the rock and roll.
Secondly thanks to 4 decades of globalisation and allowing skills to diminish i very much doubt H&W has the skilled workforce within an a couple of hours drive who could build a warship. I worked at H&W several years ago on an oil rig yardstay and the only N Irish i met on site were hole-watchers, who gave a good betting tip. Every skilled worker i met was a contractor from Scotland, England or Norway.
Thus in the medium term if H&W are to get major contracts then i can only presume vast swathes of skilled workers/contractors will have to be brought over, which obviously makes it significantly more expensive to get the job done.
Tango1. Your comment is borderline ******ed, of course i am against wars and young working class British men dying, isn't every right minded individual? Only people i know of that aren't against wars are Hitler, Genghis Khan and Tango1!
Christrdg. IMO when the FSS competition was suspended last November there was a split between UK GOV and MOD. UK Gov wants low cost/value for money, especially now with Covid19, while MOD is pursuing "build British" with higher/less competitive bids. 3 weeks ago news was that the competition could be scrapped, but now MOD has been given the green light to proceed. I believe the compromise to allow foreign bidders has allowed this to go forward. Team Resolute may well be leading the pack in these circumstances providing the perfect compromise for both MOD and price sensitive UK GOV.
Well done Speedy_Gonzalez a great post & one H&W may tweet themselves.I recently watched 'The Defence Select Committee' when they had the Chief of the Defence Staff - Sir Nick Carter & the subject of the support vessels was brought up towards the end & invitations to tender will be going out this year. Below is a Gov UK publication of the 24th July 2020 in the piece is the following quote & it makes for a good read: 'This contract will also support highly skilled jobs across the UK which clearly demonstrates how national security and regional prosperity go hand in hand.' https://www.gov.uk/government/news/gibraltar-squadron-to-receive-two-cutting-edge-fast-patrol-craft Also issued on the 30th July by The Defence Select Committee is the following: Defence Committee launches inquiry into foreign involvement in the Defence supply chain https://committees.parliament.uk/committee/24/defence-committee/news/147620/defence-committee-launches-inquiry-into-foreign-involvement-in-the-defence-supply-chain/ I would also add having met, last year, the Chair of The Defence Select Committee for a meal one evening with a mutual friend of ours I found Tobias Ellwood a 'good egg' as it were & now follow him on Twitter.In addition he was the one that raised the subject of the support vessels for the Queen Elizabeth class air craft carriers. Its all to play for & H&W are now in a perfect place.
There are ways and means and JW is doing exactly that. The fact that Stena have put out a press release doesn't mean that Harland need to respond to everything. It all depends on the nature of the contract and the decision of the Nomad on its materiality for announcement purposes.
My sense is that Harland will be bidding for smaller contracts to start with to de-risk the operations and ramp up gradually.
To be fair- a ship in a shipyard undergoing maintenance really isn't news- and of course prices are commercially sensitive. It would be similar to Tesco updating the market weekly to what they're buying and selling bread for.
We'll get an idea of revenues and P/L at the right time in the financial calendar.
JW's LinkedIn posts are a good marketing tool for H&W given the industry professionals that follow him.
Bit of patience- ships in the yard is very normal, un-newsworthy activity.
If we didn't have any activity- then perhaps I'd expect updates on what the hell they were doing to get customers in..!
droderick:- Regarding point 4 (the most poignant) I think we both know there are ways and means, The media seemed to know the Stena contract was for £2.5m but not a word from INFA. FRSU was due 31/07/20 But been and gone with no update. I never envisaged I had invested in a smoke and mirrors outfit and am 100% clear that INFA could do a lot more to help confidence and sentiment two very important aspects.
Reading all of your posts, may I offer the following comments:
1. Remember the time JW set milestones and people ridiculed him for making RNS announcements against those milestones? It seems to be the case that damned if he does, and damned if he doesn't.
2. Civil servants are slow in the best of times and with COVID-19, we are arguably in the worst possible phase to move things along. I have no doubt JW and JT will be deploying every trick in the book but some things are beyond their control. That's life.
3. The fact that JW is trying to reach out to all of us is being taken negatively. Even is he wants to issue an RNS by way of an update, the NOMAD could very well block it if he/she deems it to be non-material
4. Regarding contracts etc. at Harland, why would JW want to publicise his contracts, the negotiations and the clientele to the whole world? We are not the only ones watching, there are competitors watching his every move so why should he give out commercially sensitive information?
5. JW already gave a lot of information in the Placing circular. The financial year has come to an end and the team must be getting the audit and annual report organised. A lot of information will be disclosed in the annual report.
What is the tearing need an urgency to get information when literally 2 weeks ago we had a Placing circular?
Let JW get on with the business, focus on value creation and we will all be fine. Patience and calm are dirty words these days but that is exactly what is required.
We don't live in interesting times. We live in bizarre times. Despite all the doom and gloom surrounding us, Infa is still here and standing. Let's give some credit where it is due.
Me too..but still prepared to give JW and team some benefit for progressing us so far bearing in mind past debacles such as Woodburn F and others in the past .. the frustration for us LTH’s is that IM is proving a tough nut to crack ,H&W has been exciting but costly in short term and Barrow seems to have gone quiet .. some of the early optimism about IM and lack of news has somewhat dampened our outlook especially when the losses continue .. but H&W was such a steal that I remain committed... just for now but patience is being tested after 18 month’s wait for ML and all the follow ons !!!!!