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Avyererdowt, Glad you understood the question as I was puzzled what company (Belfast, Appledore, Bifab) joolyc was asking about..
Good observations there Lottie thanks for input
For those interested.
INFA. Today saw the 20 day moving average (MA) cross the 50 day on the upside. The last time they crossed was late Jan, on the downside, when the price closed below the recent issue price of 45p. Strong support is still evident at 37p with multiple supports but likewise, on the upside, 42p is a strong resistance. A close below or above those two points would imply a continuation of trend. There remains a large seller happy to take bids of size. Keep the faith.
I am new here but has anyone questioned yet why the Senior management team put in place post purchase is no longer there? An incredibly high turnover of senior people
Chris- answer = the square route of Zero.
I wonder how the plan below will influence the next decision on our own ML ?
DAERA consults on proposed Marine Plan for Northern Ireland
Date published: 18 April 2018
https://www.daera-ni.gov.uk/news/daera-consults-proposed-marine-plan-northern-ireland
Stokey,just watched it ,certainly big contracts coming from MOD ,let's hope we get some
Iam not sure if this has been seen before https://www.youtube.com/watch?v=5o8usjrIcgk
Crown Estate Scotland in its Scotwind auction of sites for wind farms will be imposing a 25% local content requirement. I am not sure of the local content requirement the Crown Estate is requiring in relation to the sites in England and Wales. However, in relation to the Scotwind auctions it is highly likely that to reach the local content requirement some if not most of the fabrication of jackets will have to be done locally. INFA has the largest fabrication footprint in the UK so is in the strongest position to meet this demand. I note from figures on the BritFab website the cost of fabricating a single jacket is around £2m.
Tango1 In relation to your 10.38 post I am not sure how many staff were retained. However I note from the recent trading statement that Methil is back operational so it seems that at least some staff are there. Also any concern may be mitigated by requiring a performance bond.
stokey12, But did they retain all the staff? That would be my first question if I was to look at Risk when auditing a new supplier.
Norway
Tango1 In relation to your 09.21 I agree with but would observe that if you look at the BritFab website they give examples of the work and it shows that they have extensive experience in fabricating jackets. So INFA has the footprint and through the BritFab purchase the experience needed to fabricate the jackets
I guess the partnership with that Spanish company will involve a knowledge/technology transfer.
As mentioned capacity and capability are not the same. We have the govt on side. I think it will make a nice, long term career for some of young people to be involved in this 'Green Future'.
I am optimistic about this future.
Very true having capacity does not prove capability.
Be surprised if companies are not trying to secure Fabrication capacity quite quickly and with INFA's Large footprint should get some reasonable offers sooner rather than later as Capacity is a finite resource.
Building ships in Vietnam to work in Scotland, Lets hope we do get the Jackets and not China or Australia.
Lottie123 In relation to your 07.25 post I note that there is a local content requirement and with a wind farm of this size the contract for the fabrication of the wind jackets is likely to be significant. Both Methil and Arnish have experience of fabricating jackets and are local. With all the off shore wind farms being built around the UK and the local content requirements from both the UK Government and Crown Estate Scotland INFA is likely to be in a good position to capture a fair share of this work.
It seems our best hope is that all the other shipbuilders full order books. China signed the biggest ever new build contract worth $1.5 for 13 new container ships. Demand is huge out there for global transportation. Consumer demand and corporate investment spending are on an inflationary collision course. Surely some of that should rub off on INFA soon.
You might have read this before as part of the ML application handed to DAERA, but for those of you (project managers/engineers) with time on their hands I just trawled this and found lots of useful snippets of info.
https://www.daera-ni.gov.uk/sites/default/files/consultations/daera/updated-2019-application_0.pdf
Wanting a judicial review and getting one are separate items.
I often wonder about the delay delay in December for further public consultation. I would guess that was legal advice to forestall a JR.
These are my opinions and nothing more.
Great post. I’m sure the BiFab acquisition accelerates the first opportunity.
I had a look to see if Cenkos had written any new reports - unfortunately not. I read the 12 February report again. Considering this comment we must be getting close. “Near-term opportunities. Over the next 12-18 months, management has identified revenue opportunities of £80m+, which includes: (i) fabrication of foundations and subsea jackets for a North Sea wind farm project being developed by an oil and gas major, (ii) cruise dockings from a major operator; (iii) subcontract block fabrication for a prime contractor’s defence programme, and; (iv) new build replacement vessels for a number of ferries and government agencies. It is hoped that contracts for the first two (worth c£40m in aggregate) will be signed in early 2021, and delivered this year, whilst revenue from the others may spill into the following calendar year, depending on when the contracts are signed.”
I note that for practically all of Q1 the Building Dock and SRQ have not been used. I wonder when these two will starting being used on a regular basis. Having said that revenues are still reasonable in the circumstances.