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I think the NIFerries page said it would be there temporarily for a few days until the Stena Scotia leaves. Then it would move around.
Oceanex Connaigra is now secured in the smaller Thompson dock so will be interesting to see what fills the Building Dock when Stena Scotia leaves !!
Full details of vessels due in & out of the two docks at H&W hopefully taking them to break even cash flow wise this year.
https://www.niferry.co.uk/canadian-visitor-returns-to-harland-wolff-ahead-of-further-stena-work/
Sorry I meant lead time for the whole IM project.
It would not surprise me if the lead time for ML is reduced again, now we have 2 fabrication halls and able to keep a few hundred more employed...
Regarding ML, JW said in the next few weeks so it is very possible- then FID before Christmas to get our £15 mill and project finance to build and manage them.
Could be a very nice Christmas this year, Just need the travel restrictions to be lifted and it will be an amazing Christmas.
Let's not forget that STENA SUPERFAST VII and STENA SUPERFAST VIII are also to dry dock at Harland & Wolff before the end of September. I wonder if we can also get a marine license by the end of September.
Now firmly installed in the Belfast dry dock. :-)
We will surely make maiden profits at some point. May not be in the next update, but it's coming down the line.
Just coming down the channel.
Stokey12, we can surely hope for profit but I think you might be a little optimistic. For me the first thing is cash break even. Depreciation is not really relevant. I hope for cash break even and then anything after that is gravy. First big milestone for me. I think JW once said 25m revenue would result in the cash break even point considering fixed and variable cash outflows. Given weighted pipeline, new news, move from smaller to medium contracts this is very doable. Also a steady revenue stream builds credibility in the market and will open doors to debt financing.
Loosegoose In relation to your 06.51 post it ceertainly looks like it will be a busy month in Belfast. At this rate there is a serious danger that INFA might make a maiden profit.
Great post Loosegoose - OCEANEX CONNAIGRA is currently off the North Coast of Ireland due into Belfast this morning.All to play for now.
https://www.vesselfinder.com
While we wait for bigger contracts to start, at least it seems there is a steady flow of smaller contracts to keep the yard ticking over whilst building credibility in the market. OCEANEX CONNAIGRA will be the new arrival any day now when the Stena Scotia departs. https://www.niferry.co.uk/canadian-visitor-returns-to-harland-wolff-ahead-of-further-stena-work/
Out of curiosity where does Cammell-Laird stand as a competitor to H&W.
It seems to me that they have had a run of Defence projects over the years.
Chrisatrdg In relation to your 09.50 post If H&W (Belfast) did not have a dry dock available that means it must be busy which is good news for INFA. I wonder if we will get a trading update showing how much revenue it is generating and what contracts it has.
See extract from the article shown by the link saying a vessel is going elsewhere as H& W & Cammell-Laird are both busy lets hope so.
'The Isle of Man Steam Packet’s conventional ferry BEN-MY-CHREE is to dry dock on Tuesday it has been confirmed. The Ro-Pax ferry has been out of service since damaging a propeller entering Heysham harbour on Thursday. Due to the nature of the damage the vessel needs to be taken out of the water. Normally the Steam Packet would use Cammell-Laird at Birkenhead for dry docking, but with that yard and Harland & Wolff (Belfast) both busy, BEN-MY-CHREE has been booked into A&P Falmouth, Cornwall. The ship crossed from Heysham to Douglas last night at much reduced speed, reportedly to change crew and prepare for dry docking.'
https://www.niferry.co.uk/steam-packets-ben-my-chree-to-dry-dock-on-tuesday/
Speedy and Pacman Thanks for the info. This financial year which has just started looks like it could be interesting.
Think so, you’re the one with the brains. ;-)
* project
Pacman. Are you my long lost twin brother?
Stokey. Read through rns on 3/7/19 and 4/7/19. Both indicate considerable income commencing as part of the FID, which could/should come soon after ML award, so potentially much sooner than 22/23. Construction to first operating fees will take 3 years. Then we have H&W contracts.......??
Stokey, From what I gather, we are due monies for management of protect , also a payback of around £12million for work already completed (feed) GLA exciting week coming ;-). And that’s without boats and stuff!
Does anybody know from the time the marine license is approved how long will Islandmagee take to be constructed and revenues start to flow? As things stand I am assuming that until 2022/3 the only revenues that INFA will have will be from Shipyard Division and after that the Gas Storage Division will start contributing revenues.
https://twitter.com/theJeremyVine/status/1299994825438179328?s=19