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Lottie123 I agree. However given their record of openness towards retail investors I do not expect we will hear anything soon. They possibly feel they’ve done their bit after the Investor Roadshow.
Buying up all these yards is a massive dice rolling exercise by JW in my opinion. One yard was bold but they’ve now created a big problem needing to service the running costs of four sites.
Recruitment continues at pace and it’s a real chicken and egg situation staffing and tooling up to win business to be able to credibly bid all whilst burning cash at a rate of knots ; hence the numerous placings.
Where will it end?
Having planned to raise £13.5m in the 2 tranche placing, the company should really explain how the £8.5m raised will sit with their plans. Is the shortfall a big problem? I guess the share price suggests this question needs to be answered.
https://www.navantia.es/en/navantia-4-0/shipyard-4-0/?cn-reloaded=1
This is what it’s all about going forward - Shipyard 4.0
We’ve got a long way to go to get there. Navantia could help but they are effectively competing with us in other sectors
My view is that Team UK and its backers are trying to avoid any competition. If you look at who is in Team UK you have all the main shipbuilders. While Team Resolute includes Navantia who are promising to show INFA more modern and efficient ways to build ships. It is this knowledge transfer that is the main issue. If INFA applies more modern methods of shipbuilding learnt from Navantia then it could build ships at lower costs. So for Team UK it is essential that foreign companies are kept out as they cannot compete on costs.
If the very well paid board have anything about them they could manage without the defence contracts.According to the presentation the clean energy sector could keep the company at full capacity.The cruise sector and other shipbuilding and oil and gas contracts to add other avenues.Boris and co might be able to get by without keeping their promises on rebuilding shipbuilding but they cannot renege on energy security.
Well JW aligned the business to the government proposals so what can you expect!
Does that not mean Team Resolute have a better chance?
Chrisatrdg In relation to your 18.33 post the Belfast Harbour website as now showing it scheduled to depart at 2300 on the 3 June 2021 this would put it in line with the NI Ferry article.
THE TELEGRAPH
Ministers attacked over failure to ensure British shipyards build Navy ships
The Government has rowed back pledges to support UK shipbuilding
By Alan Tovey,
INDUSTRY EDITOR
26 May 2021 • 1:13pm
"Ministers risk damaging Britain's shipbuilding industry after rowing back on a commitment to build the Navy’s new generation of support vessels in the UK, a senior MP has said."
"Tobias Ellwood, chairman of the Defence Select Committee and a former Royal Green Jackets officer, demanded that the Government explains why it decided to change course on the £1.5bn contract by opening the door to foreign bidders."
"In a letter to the Defence Secretary Ben Wallace, Mr Ellwood said he is disappointed that the contract does not require the ships to be entirely built in Britain, despite commitments to revitalise the UK’s shipbuilding sector in the defence review earlier this year."
"Last week the Ministry of Defence relaunched the tender for the three 40,000-tonne vessels but did not include a commitment for all building work to be carried out in Britain."
"Mr Wallace, who is also the UK’s “shipbuilding tsar”, has been tasked with bolstering the UK’s embattled ship construction industry in the recent defence review."
"There are understood to be two leading groups interested in the contract - an all-British consortium dubbed “Team UK”, made up BAE Systems, Bab****, Cammell Laird and Rolls-Royce; and “Team Resolute”, consisting of British maritime consultancy BMT, Harland & Wolff, which is owned by Infrastrata, and Spanish state-owned shipbuilding company Navantia."
I note that Stena Europe is still in dock.
https://www.vesselfinder.com
Maybe JW's baggage is holding us back?
Bobby spot on
It seems very evident there is someone shorting this stock. I hope they get burned if and when we get the ML
There have been a few screw ups along the way. Fortunately for the BOD there is no Dominic Cummings to show and tell. So long as they have some awareness and learn from the mistakes then I’m hopeful we’ll see a better run company emerge in time. I do think they need more working capital to mount effective bids so maybe the ML may help facilitate that. I’d like to see more openness and communication for us beleaguered retail investors but recognise there are also confidentiality issues in play; a restructuring of the Board is essential.
Well we have not seen these lows for over a year and according to the BOD we are doing well, and the2nd Half is going to be good, unfortunately the market are not seeing it! well I suppose there will be changes at the top shortly.
Tango1 In relation to your 13.51 post I would tend to agree with you as I was surprised that they actually answered my question about the Triumph Subsea Services LOI rather than just plead commercial confidentiality.
During the live presentation, when moving between Powerpoint slides, they seemed to skip two at a time, suggesting that the skipped slides were not for our viewing pleasure. Anyone watching the video could freeze-frame and view what had originally been skipped over.
I would say it more likely there is something sensitive it the video they did not want to share....
Stokey12, in relation to your 08:28 post, I think we should ask that they post the presentation they made. If the video was corrupted that is one thing but surely the PowerPoint presentation should be made available.
It will be interesting to see if killik up there game to compensate for the recent dilution.I also would be interested to see if killik are buying for themselves or for someone else.?
Looks like a a re-ajustment for Killick due to the increase in issue.
Nice blast and spray job..... hopefully the next photographs out of Appledore will be of the keels being laid for the Ukrainian gunboats.
"Was the corruption they noticed anything to do with large bonuses? ;)"
Lol
Some details from the Freshspring website.
"In the shipyard her hull has been pressure washed and checked for damage, ready for painting. This routine maintenance happens every five years. It keeps Freshspring watertight and in good order. As very little work on the hull was needed, it was decided to carry out some extra works while in drydock. The decks are being blasted back to metal, ready for painting, the steelwork for the mast is being secured, the mast is being stepped onto the foredeck and the awning erected.
Freshspring returning home:
When the work at Appledore is finished, Freshspring will return to her berth in Bideford. This will be in the evening of 27th May. The ship will look amazing after all the hard work of the shipyard workers and volunteers. With her new mast in situ and a freshly painted hull, Freshspring promises to look very special on her return to Landivisiau quay."
So, returning back to Bideford tomorrow night. That's one hell of a journey, mind. Must be at least a mile. :)
Might grab the kayak and go get a close up.
Was the corruption they noticed anything to do with large bonuses? ;)