Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Moored at Santander
Sachyboo ref 08.21 post I agree I think that Navantia will want at sometime in the future to contract with the MoD on its own so it would be in their own interests for FSS to be a success. The problem is that the MoD does not stand up to BAe or BAB. They talk tough but quietly cave. If FSS is completed on time or early this would put pressure on BAe and BAB to start performing better.
Poor contractor performance is endemic in the defence industry...in terms of cost and schedule adherence, and often quality too. However, not all blame can be laid at the door of industry - the Client is a major culprit in this respect. The portrayal of 'successful' outcomes is usually a PR fudge by all parties. However If BAES and BAB can't deliver there is a strong likelihood that HARL will struggle too. Experience and skills in the right areas will help a lot but will not counter the disruption of an indecisive Client. HARL needs strong management with a clear strategic intent to get anywhere near success with FSS, and not a little luck! BTW, I am a holder in HARL.
This has been the dog, i suppose 1 has to be. lloyds and shanta did brill, zeph will, as i will be pulling out before the drill is over hopefully, but this is a stubborn little tyke. it is fair that the company cannot just take orders without fulfilling them, but a progress report every now and then is surely in order. the financing package is a slow burner, but is that political as an election is on the cards sooner or later. (please refrain from the usual political half-wittery, you know who you are)
It sure is! They must be revamping it for some momentous news……….
Or not! Perhaps someone flicked the wrong switch last night on their way out.
Interesting find, thanks. I note that this company will use the funds to update facilities and look for merger and acquisition opportunities...in Norther Ireland
They specialise in ship repair and maintenance but are highlighting the growth in environmental propulsion changes as a driving force for business...
Ps I added the Northern Ireland phase to the take over bit...just wishful thinking.
Just watched the video. The refurbishment appears to be going "Swimmingly".
???
Just seen on LinkedIn from Villa Vie Residences
'Welcome to our first week at dry dock! 🛳️
Our journey of transformation and preparation has begun, and we're excited to give you a glimpse into the bustling activities that are shaping the future of the Odyssey.
This video is just a snapshot of some of the dynamic work underway. There's a lot happening behind the scenes, and we're eager to bring you more updates.
Stay tuned for our upcoming episode featuring the Chief Engineer—it's packed with insights and reveals more about the critical work happening to get us ready for our voyage.'
The link to watch the video which is also on their youtube channel is https://www.linkedin.com/feed/update/urn:li:activity:7193714470609686528/
LSE03 ref 22.34 post thanks for this I note in response to an earlier question from Jim Shannon Grant Shapps referred to investing in Northern Ireland the link to the response from Hansard is https://hansard.parliament.uk/commons/2024-05-07/debates/3E15E8A3-071B-4EE2-8381-C5A2CA07A152/Defence#contribution-F206E377-61D0-4746-AE4C-3807361B6BE4 what I found interesting is that as far as I can tell from my skim reading he did not go on to lay out how much will be spent in Northern Ireland.
Also there is this from column 507 from the speech from Mark Francois refferring to the new procurement model
'I note that the dynamic head of Defence Equipment and Support, Andy Start, when speaking at the Royal United Services Institute recently, explained that the reforms began in March and that the operating model will reach what he calls a “minimal viable product” by the autumn, with the whole programme in full flow by next year. As someone who has previously expressed a great deal of frustration about the bureaucracy and tardiness of our procurement system, I can only wish the Minister for Defence Procurement and the head of DE&S Godspeed in implementing these reforms as fast as possible, particularly as the international outlook continues to worsen. We urgently need a sense of urgency, as it were, and it appears that, finally, we are starting to develop one.'
Jim Shannon's contribution can be found here https://hansard.parliament.uk/commons/2024-05-07/debates/3E15E8A3-071B-4EE2-8381-C5A2CA07A152/Defence#contribution-01FC96FE-6FC2-4343-914B-FE10935B4C5D
In summing up the Minister said this 'The hon. Member for Strangford (Jim Shannon) is a strong advocate for the defence enterprise in Northern Ireland, and his part in particular. He rightly highlighted the further opportunities in Northern Ireland, which I know about full well as a former Northern Ireland Office Minister and Chair of the Northern Ireland Affairs Committee.' He however failed to expand on the Defence Secretary's comment about how much will be spent in Northern Ireland. I suspect that the Secretary of State might be the last witness before the Nortern Ireland Affairs Committee inquiry into defence spending in Northern Ireland and if that is correct Jim Shannon will no doubt press on that. I should be able to watch the next hearing.
Is harland and wolff website down?
Ship Maintenance and repair firm from Korea, Hyundai Marine raises usd$544 million for 20%, market cap values the company at $3billion+
... whereas Harland and Wolf market cap at £20mil... doesn't make any sense. Surely a correction needed here 😂
This is Korea's biggest IPO in 2 years.
https://asia.nikkei.com/Business/Markets/IPO/South-Korea-s-Hyundai-Marine-Solution-rises-43.8-in-market-debut
Https://parliamentlive.tv/Event/Index/1eba475e-0630-469e-a643-0103ed8e1c14
Starts at 17:55
Kevan Jones mentions FSS contract award again
Jim Shannon supports NI regional hub and makes the case for NI to get a fair share of defence opportunities. H&W mentioned alongside Thales and Spirit Aerosystems.
Grant Shapps mentions NI shipbuilding importance and pipeline of work ( not specific )
Haven't watched it all but Maria Eagle MP was giving a good reply to govt at the end on behalf of Labour.
Roy Roy hold fast
Xenor here’s hoping!!
We're all sat here waiting on finance, IM JR appeal result and confirmation of Falklands contract. RNSs here tend to be like buses, we'll probably get all three plus a trading update in the same week.
Invested here for 18months now and had chance to take profit on a few opportunities, not many. My growing concern is the lack of any substantial news (don’t find the updates on LinkedIn that important overall) and the share has now turned stagnant after a pretty good uptick last month. Is May going to be any different? I’m starting to get itchy feet about moving money elsewhere. FYI IDMOR
Https://bidstats.uk/tenders/?ntype=tender#822214655-822149415-46
The contract will be for the detailed design, construction, testing, survey, equipping, completion and delivery of a Ro-Pax Ferry for UK domestic waters.
£361k contract award to Navalue
these were upbeat today as deutsche bank issues a strong research note for bab**** up 2.5% with bae following on looking like another all time closing high. time will tell. let's hope the boe have been watching the various components of cpi that have already been published indicating that the offical april data due 22nd, will fall to 2%. oil is down 10% from recent highs.
the bank meets on thursday to decide on the next move. at the last meet, one voted for a cut whilst the remaining 8 voted for no change.
You're right Stokey
https://www.offshore-energy.biz/cory-group-joins-forces-with-harbour-energy-bp-and-abp-in-co2-transport-and-storage-pact/
LSE03 ref 13.29 post Is Cory not planning to transport CO2 by barge in conjunction with other partners?
There will be one ministerial statement from the Leader of the House of Commons Twitter feed which says
Leader of the House of Commons
@CommonsLeader
There will be one oral statement today:
1) Defence Secretary - Defence Personnel Update
Https://www.gov.uk/government/news/new-plans-to-drive-carbon-capture-industry-forward
Millions of tonnes of captured carbon dioxide (CO2) could be transported via road, rail, barge or ship, revolutionising the way it reaches offshore storage sites, helping more businesses cut emissions.
The government has today (7 May) launched a call for evidence for innovative new options for transporting CO2, on top of the existing network of pipelines, supporting industry on the path to net zero.
I havejust checked the Order Paper for today. Unless we have any Ministerial Statements or Urgent Questions then the debate will start around 3.40pm and is scheduled to finnish at 10pm. So looks like a good five hours of debate. Despite her interest in the matter I would not expect the Leader of the House to take part. As I said in my 3 May post I am expecting the following to be bought up
Defence Spending in Northern Ireland
Service accomodation
AJAX
Defence procurement.