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Van: interesting article...but i don't see a connection to a delay in signing WSG's contract. if this kind of thing delayed it then we'd never get it signed. there will always be tension between MPS and the importers. this is business.....and Africa.
off out to practice more.....my colleagues have suffered enough
Aiming- here the importers/gpha view- there was an operational issue- not sure who was at fault- MPS admitted to paying refunds
https://www.graphic.com.gh/news/general-news/clearing-agents-importers-fight-mps-allege-fees-are-charged-for-no-work-done.html
Feeks: i was joking. it was a dig at Vander for his failed attempt to be post negative news which actually seems to be quite positive. I have no issue with Vander at all, but i doubt he's suddenly going to be posting bullishly . he's like Phil and a more negative version of Foxy...clearly invested so will be happy when it pops, but posts bearishly.
Off out to see how much NCYT has fallen today
You might be right, not entirely sure now I've read his post again. Neutral perhaps, Anyhow it all pre-dates the "February contract signing" RNS and indicates that MPS are very happy with what they have got.
As was this bit of last RNS....
“ The third berth is expected to be operational in Q1 2020”. Over half way through Q1 now, so more volume and revenue coming in very soon
I just assumed Vander had turned bullish when he posted those.
off out to do work for the day
There are lots of good bits to be pleased about in those links. I wonder if ICC have been back since Sept. 2019 or if they consider their work is done now? We haven't heard so imagine it must be "job done" for them.
There was plenty of good stuff from MPS in the second article from December--
Terminal 3 has been developed with sustainable infrastructure fitted with superstructure and the best of the world’s technology to deliver the highest standards to the port users. The efficiency, accessibility, the short waiting time at anchorage, fast vessel turnaround time, higher port capacity and berth availability are the optimal criteria for making Terminal 3 a hub for Africa.
Moreover, it is worth noting that three months after the launching of 2 out of the 4 berths, Terminal 3 has prompted several changes in the maritime industry and has become the first-port-of-call in the region.
MPS is on course in the construction of the second phase of the Tema Port Expansion Project and we have so far outlaid the bulk of the US$ 1.5 Billion investment in the Port of Tema. So far, we have completed two (2) new berths with a draft of 16 meters and a length of 700 meters and the third new berth is set to be largely completed by December 2019 (7 months ahead of schedule).
Shipping lines are now targeting the Port of Tema as their Hub and we are confident that having invested in infrastructure, people and technology, our efficient operations will lead to a reduction in the overall cost of doing business in the Port of Tema. We have and shall continue to work with all stakeholders to make the Port of Tema a world-class port.
This year Ghana has been selected to host the headquarters of the Africa Continental Free Trade Area (AfFCTA). The nation has a task ahead to connect our 30 million people to the 1.3 billion people (continental market consumers) and tap into the wider $3 trillion GDP of the AfFCTA.
With the rolling out of the AfFCTA, Ghana is able to harness this opportunity in the areas of trade & industry, job creation and will significantly open up the economy to more industries and sustainable investments. MPS’ Terminal 3 has its role cut out to provide efficient connectivity between the AfFCTA markets and Ghana’s importers and exporters.
Ha, Vanda back to his old tricks again!! Funny boy. I expect he will put that up again in few months.
Cheers Vander - no need to cough Foxhill - I was out for a delicious curry. Amazed that anyone would extrapolate anything negative from that couple of news relseases. To summarise briefly: Tema under MPS management is developing successfully as the first port of call in Africa (with WSG involved) = outstanding success. Perhaps some teething issues evident - i.e. over eager / zealous risk management decisions being made at cargo scanning (Key backdrop: lax security at old port needing to be cleanrd up / WSG fear of security incident tarnishing reputation during crucial first start up phase (Eager puppy..... but first impressions count ) - prompts those port users who are used to easy passage sometimes paying extra charges = complaints. But MPS not unhappy - operations mean enhanced control, improved security reputation and higher revenues. ICC are acting in a purely facilitative role - to strike the right balance between all parties and to ease smooth trade. Operational issues? Yes ! SignifiCant of a wider problem? On the basis of those articles? A big Fat "No". Nice try though.
Yawn again
The ICC Ghana paid a visit to Tema in sept and were the first to public ally comment on excess use of the yellow channel in cargo clearance
https://mobile.ghanaweb.com/GhanaHomePage/NewsArchive/ICC-Ghana-to-work-closely-with-players-at-the-port-to-ensure-optimum-trade-facilitation-Emmanuel-Doni-Kwame-778422
Complaints from freight forwarders re excess physical inspection, and charges for unstuffing not needed or performed, were well publicised in Dec 19
This led to the following MPS rebuttal that customs were responsible for scan image analysis and Application of the cargo risk management system Wsg/scanport work closely with customs in scan provision and Subsequent decision making re green/yellow channel. It is possible nidal yavuz/ general manager was drafted in to help with these operational issues, and given his familiarity with smith detection machines. It is not clear whether these operational issues have been resolved and whether the involvement of multiple companies is compounding the problem
http://www.gnbcc.net/News/Item/4681
Where have you read that in an RNS Vander, or for that natter, any other source? Total nonsense speculation.
Slipperz you knowledge of wsg is unsurpassed
Have you noticed that we are discussing Ghana not iran
Aiming - if it misses Feb interest will wane (4 trades as we speak), I expect the SP to go to 10p. I don't think it will see the days of 7-8p again given the revenue they are getting. Having said that they still went and did another placing despite that revenue which implies (per Philbatch) that the revenue is not what we hoped - or in start-up.
I am wondering who working with MPS will go, big player to be in with - that's how you grow a business.
Yeah, right. Another red herring from Vander!
A key issue delaying the Wsg contract is operational not the broader MPS negotiations (a fowler red herring)
Philip: do you think this falls if nothing is announced in February?
i would see it as a disappointment that another "soft target" was missed. That said, we're only 0.5p up from where we were before the January update that mentioned February. Yes, it could fall further out of annoyance with PF missing again, but i kind of feel that so little is priced in here that i'm not sure it makes much difference if it's a feb or march announcement......the latter is better for me as i'll have my bonus by then.
off out to get a hair cut
No birthday party today it seems. B
It'd a voluntary agreement isn't it ? MPS can do as it pleases (a taper seems to be what it wants)
I agree. Why is the wsg delayed?
There are 2 scanning companies and one technical partner maybe why
One snout better than three
Actually, GPHA has now only 15% shares. If they are the landlord, why can't they secure the 20% implementation themselves? Are they braindead?
Yawn. " MPS is continuously reaping the benefits of the MPS Terminal 3 agreement" is all we need to know...
Interesting- no previous mention of a 4y taper - gov response expected by 20th feb to prompt enactment of the nov agreement- Details remain disputed - unlikely to be fully resolved in Feb
spitting the dummy out again ......
https://www.ghanaweb.com/GhanaHomePage/business/MDU-GPHA-grow-wild-as-MPS-fails-on-20-container-business-promise-869053