We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Early buy at nearly 53p could be an interesting day :-)
Domino1,Absolutely! and this is only the first of a stream of projects bid for...........What is our current market cap? I think a rerating is getting ever closer.
Domino1 In relation to your 07.27 post I was aware of that. The figure for the earnings per share was calculated by taking the mean figure of £350m x 2 = £700m. Assuming a gross margin of 20% gives a profit of £140m less the running costs of H&W of £30m gives a net earnings of £110m and I have just realised where I went wrong. The LoI is for a guaranteed vessel and an option of another. I was doing the calculation in my head and did the EPS on just one vessel. The EPS if both vessels are built is around £1.69 a share. Can somebody check my maths.
So isn’t that between £680 to £720million for both vessels?
Domino1 it actually states " each vessel would be expected to generate revenues for Harland & Wolff of between GBP340 million and GBP360 million over the 24-30 month period of fabrication,".
Good news this morning. First signs of Harland and Wolff being able to secure new build contracts. And, as you say, discussions ongoing for other projects.
Still got to turn a profit but welcome news indeed.
Hi Stokey,
The RNS reads £350million for EACH vessel not the contract.
This is good news. On the plus side if the contract is signed by June 2021 then completion would be by December 2023 securing work for upto 30 months. The EPS on this contract using a mean figure of £350m and assuming both vessels are built would be circa 77p per share. Also it is noted that there are discussions on other projects so the EPS during this period is likely to go up. It is also worth noting that further related contracts are possible.
The only negative I can see is if contract negotiations breakdown and we do not get a final contract. Would be interesting to see what the payment schedule is.
RWE, Equinor and Shell consortium working together to produce green hydrogen from windfarms, with Hydrogen stored in underground caverns. Graphic provides a good view of what network would look like
https://www.powerengineeringint.com/hydrogen/rwe-and-equinor-join-shell-in-europes-biggest-green-hydrogen-project/
https://www.offshorewind.biz/2020/12/07/equinor-and-rwe-join-largest-european-offshore-wind-to-hydrogen-project/
CORYSTES (fishing support vessel) is moored up opposite the BDD.......
Mrs TTNY is has decided she's playing Christmas CDs today, and every day up to Christmas too. I've now already had my fill of Jingly Bells, Rudolph and blooming White Christmas's.
For some respite, I've therefore locked myself in the office here and decided to have a wee surf online. First port of call. Facebook. Then onto the Harland and Wolff FB page for a nosey and, ahhhhhhhh ! ! My Bah Humbugness has just went up a scale. The last 10 or 11 posts H & W have put on since the start of December are of blooming elves, shelves and flashy Christmas lights.
Come on H & W, let's have some ship pics or pics of some work related activity too. We're all busting to know what the guys on the shopfloor are working on !
Tango1 noted that what puzzled me is why Celtic Explorer is going into SRQ overnight omorrow before going to BDD on the 11 as BDD is now empty.
Out of the Belfast dock now, making room :-)
Lows apols typo!!
Tango totally agree ,that's why Boris visited Appledore ,am expecting ship building news imho and indeed you were right the price did bounce off lies well observed
Fully agree Tango, that is indeed exciting. I expect that recent work on Oceanex and now Stena Europe are bigger contracts than the first of the 20 through the yard since the acquisition. Building experience, credibility and references was surely part of the plan leading to bigger & better things to come. I did read somewhere that cruise-liners need to be certified before the sailing season starts in April - must be an opportunity there with some of the bigger names. Also something has to come in the renewables sector. I did note that H&W are recruiting for a Contracts & Commercial Lead. There is light at the end of the tunnel and its probably not an oncoming train.
When the contracts come out for all the ship builds, it begs the question who is going to have the capacity to do all the other ships/cruisers/ fishing vessels etc etc seems to me owning a couple of shipyards will be very rewarding from spring. I say Spring because the vaccine will be administered by summer so those vessels will have to be got ready for the onslaught of people wanting to get away. AIMHO
Mr Poots was taken to hospital at the weekend for emergency surgery for appendix removal. Thankfully he's doing well and making a good recovery.
The Economy minister, Diane Dodds, is standing in for him in the meantime for DAERA duties. Maybe Diane can shift the folk in DAERA who are dithering with this marine license. With her ministerial interest being the economy she'll want the jobs boost that INFA will be provide on granting of the ML.
https://www.bbc.co.uk/news/uk-northern-ireland-55213794
It is all very still at the moment. No news. Share price holding at 52 week highs despite very low volumes and no news (on any channel) since the flurry over 2 weeks ago. I don't know when the news will come and given the very strong pipelines in most H&W segments, it promises to be transformative for this small company. The ML decision was promised before year end - by Mr Poots some time back I believe. I believe that patience will be rewarded.
i am sure Govn already have plans for what ship and what tender. so I suspect, infa should start getting project from as early as Jan next year imho.
thats only a couple of weeks away !
however, that the report praised the German Government for increasing spending by €10 billion to €12 billion over the next few years. It also praised the French—I think the French Minister has been asked to go before the Assemblée Nationale with an extra €1.5 billion, or around that number. That does not bear any comparison with our £24 billion investment in defence over the next few years. That is the biggest single boost to defence over the past 30 years, and it will mean a lot of orders coming through, to the benefit of British defence, the British armed forces, and British firms across the Union.
The following is the full exchange on the FSS taken from the online version of Hansard which is the official report of proceedings in Parliament.
This debate is sourced from the uncorrected (rolling) version of Hansard and is subject to correction.
John Spellar
(Warley) (Lab)
When he plans to issue the invitation to tender for contracts relating to the fleet solid support ships. (909788)
The Minister for Defence Procurement
(Jeremy Quin)
It is a pleasure to hear from the right hon. Gentleman. No one could ever accuse him of being inconsistent on this subject. I am pleased to assure him, as I have previously, that we will be commencing the competition in the spring.
John Spellar
The Confederation of Shipbuilding and Engineering Unions has argued forcefully for defence orders to be brought forward to help our industry through the economic crisis, especially in our regions and nations. The Navy carrier group needs the fleet solid support ships, and the Department has the specifications from the previous bidding round. It is a project that is really shovel or welding-ready, so when is the Secretary of State going to get off his backside and start ordering these ships? [Interruption.] He may even want to intervene and answer himself.
Mr Speaker
I think we will leave it to the Minister to answer.
Jeremy Quin
I am most grateful, Mr Speaker, though the Secretary of State is raring to go.
Just to reassure the right hon. Gentleman, the specification has changed. It has changed because we now understand more about the carrier strike group and how we will deploy these important assets. It is on track, and we will get there. We have had two rounds of market engagement, and we may wish to do more market engagement. We have got a busy shipbuilding supply chain; there are a lot of orders going through. It is important that this is well based and well founded, and I want to make certain that we launch this competition successfully and, indeed, that it is concluded successfully.
Mr Khalid Mahmood
(Birmingham, Perry Barr) (Lab) [V]
The country has a vaccine for covid-19, and it will be rolled out as a matter of urgency to save lives. The Ministry of Defence has had approval for funding the defence industry. Will the Minister, as a matter of urgency, roll out the FSS and other shovel-ready defence projects now, not wait until to the summer, to give a real shot in the arm to the defence industry, and to retain thousands of jobs and create thousands of new jobs and apprenticeships for new technology graduates, as well as to support British workers and use the springboard of the British defence industry to lead the country out of this covid recession?
Jeremy Quin
I suspect that the hon. Gentleman is referring to the CSEU report on shovel-ready projects, which I commend. It is always good to have advice from those quarters, and indeed, many of them are already ongoing. I gently remind him, however, that the report praised the Germ
Tango,yes agree there
As we are on the support level we should see a rise tomorrow. IMO