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.....is shown to be moored by Viking Sun,just outside the Building Dock ..she is a UK Registerd Chemical Tanker .Will be interesting to know the intentions.
I happened to be reading last eve about the horrors involved in decommissioning ships and Rigs on the NW Coast of India and Bangladesh ..no hint of and compliance with either H.R. care or environmental considerations.
With all the redundant Rigs from the N Sea and Covid related scrappages and the fact we are fully licencensed and compliant that should be a money spinner ..though the problem could be capacity ,namely say we could accommodate a large rig in the Building Dock ,then we lose the capacity for the "little" ships to come amd go and have their "tyres changed" ...Upon second thoughts best to build modules for the Type 31's or even a FSS with Navantia ?/All to consider and play for here !!
Not to contend BP's points for the moment, free speech is welcome: but to comment on the 'tone' of the post.
All of the classic hallmarks of a grossly underwater retail AIM investor exist, completely desperate for news on an hourly basis and dismissive of further deployment of company fiscal resources ie placings.
Few if any AIM companies are safe investments and none of them are defensive unless entry timings are perfect.
I notice Michael Gove was n Northern Ireland yesterday. Wonder if JW got to have a natter?!
It's been suggested BP that your posts tend to be on the negative side a bit more often than the positive but this was a good post expressing the reasons for your concern. It's good to have a balance of views as sometimes (and I can be guilty of this too) we're maybe searching too hard to find potential positives without looking at the bigger picture.
I strongly disagree with you though that H & W only has scrap value. If it was going back on the market again now(and even with a limited number of possible buyers) I believe it would certainly attain a higher premium than INFA paid for it. The real value of H & W will be if/when the ML is granted and that value is to INFA as a company themselves in the reduced costs of fabrication and construction on the IM project that H & W will provide.
I agree public money will boost H & W if it comes in but hopefully H & W will be self sustainable.
The game changer and best hope of a multi bagger is defo IM. Theres scary potential for growth here if JW can pull this one off.
A very good post , Blair Peach. The only way H&W may prosper is through an injection of public money. The same goes for the Islandmagee project, even if the Marine Licence is granted.
Momentum is a crucial element in all share dealing and especially in AIM shares. At the moment that is lacking. And yes the shareholders should be asking for some solid information.
Given that I got dog's abuse before even posting, I really couldn't be bothered!
I have nothing positive to say about the purchase of H&W; as I have always maintained, the only chance of its survival will be in the form of public money, however it may be dressed up. Perversely, circumstances may have increased this likelihood. I have experience of shipyards and shipping, albeit somewhat oblique, it is incredibly difficult to make money from a facility like H&W without public backing. I also refute the claim that INFA got H&W for a steal; valuing such a facility is incredibly subjective - how, for example, would one value the cranes? To me, they are worth scrap value alone. H&W will be bleeding cash at the moment, changing the tyres on the odd ferry or cruise ship isn't going to cut it. There is a reason for no news...
INFA, for me, has always been about Islandmagee. I have to remain optimistic that the marine licence will be granted, followed by an injection of public money for this "shovel-ready" project. Again, current circumstances make this more likely, although the more time drags, like everyone else here, the more concerned I become about the granting of the licence. Remember that 9 short months ago, no-one here would have imagined that INFA would buy H&W and we were all invested in a potential gas storage facility. It seems that the focus here has moved away from Islandmagee when, in my view, it is the true prize.
I don't know enough of the FSRU project to comment, although things seem to have gone eerily quiet on that front...
The lack of formal communication from the company is nothing short of a disgrace and is contemptuous of the shareholders.
You never did respond to that challenge to say something positive or even a little positive about INFA BP. Go on, give it a go, I think you could do it.
Any chance we could have that article again, in English?
Sea-miles ,thanks for link he's certainly on the ball isn't he !,lots of news to come ...anyone received their allocated shares after consolidation?
For anyone who isn't already a reader of "Drydock" magazine ;~)
I assume his reference to Armegeddon relates to the anticipated volume of work by year end.
htTps://www.drydockmagazine.com/waiting-for-armageddon/
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!
Besides you have shares in a company that will be wanting a piece of the action to build Navy ships, surely being a shareholder you'd rather less competition.
https://www.telegraph.co.uk/business/2019/04/23/britain-laughing-stock-tendering-navy-support-ship-contract/
Dawski,code one news coming lol !!:):)
.... sells out at 15.55 netting .38p before costs .. must be some financial wizardry!!!
Tony is probably against war altogether, but like it or not it is the worlds largest industry- and every nation has got to protect itself, and even more so for the UK going independent. IMHO
Disgusts me that there is even a debate about building our own war ships and having a skilled workforce, it truly is beyond any logic that it was allowed to happen in the first place.
Just shows the mindset of a certain section of people (traitorous sc um) who run this nation.
Indeed game on ,mod news coming i hope once they agree it in parliament! !:)
BMT link:
https://www.bmt.org/media/2771/bmt-defence-platform-design-and-support-brochure.pdf
H&W tweet: We are making the most of our blue skies in Belfast, filming our Director of Business Development, Defence-Mark Lawther-in preparation for #DPRTE’s virtual conference #navalshipbuilding
https://twitter.com/harland_wolff1/status/1291321032628985857?s=21
https://www.dprte.co.uk/
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.
I think you answered your own question Tango1.
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.
Tesco reports their sales every month...
Hi All,
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..!
Cheers
TheEast
Excellent post droderick!
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.