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This has just been posted by JW it is a bit of a long one. https://www.linkedin.com/posts/activity-6839491269522161665-he2X
The post reads
'It has been two years since we started looking at H&W in Belfast. Without mentioning the COVID word we have had an intense two years keeping our facilities open for business, the progress the team have made in re establishing the H&W brand has been outstanding. We have brought back the core values of providing services clients want at an affordable price whilst delivering high quality work. We now have one of the largest fabrication footprints across the UK, geographically split between Belfast, Methil, Appledore and Arnish, this bodes well for the tsunami of fabrication and construction projects on the horizon that the UK as a whole will benefit from not just H&W. Being split across different geographical locations certainly is a big plus.
When setting out my strategy for the assets we were looking to acquire back in 2019 and taking into account the economic trading conditions we settled on our core markets Cruise & Ferry, Defence, Comercial, Oil & Gas and Renewables. Whilst we are still on a long journey in year 2/5 our strategy is stronger now than it was back in 2019 with the new national shipbuilding strategy due for release later in the year, the focus of government on shipbuilding demonstrated by the appointment of the shipbuilding Tsar, unprecedented levels of Defence spending locked in, the focus on renewables and local content along with the repurposing of offshore infrastructure we have everything to play for. Whilst we won’t win all projects, we are in the mix in some shape for most major projects across our markets, giving us the opportunity to select projects that are a good balance of risk and reward depending on the facility in question, capacity and capability.
Over the next few months I have decided to start posting on specific subjects when time permits, I will start with where I see each market heading, then our facilities and obviously I ?will talk further about our flagship Islandmagee project. Islandmagee is an essential element in security of energy supply in the UK even more so now with the transition away from traditional fuels.
By the end of next week we will have apprentices on each of our sites, the first batch I met recently in Methil, they will be the future of the business as they come through. I explained to them that there has never, in my lifetime been a better time to join the industry.
We have gone through the various stages of re establishing the business starting with getting the yards back into good working order, investing in machinery to ensure we can compete and improve our efficiency. We had our first small docking prior to Christmas 2019, we have moved on to securing multiple dockings and the commencement of fabrication whilst building a sales pipeline. We have now crossed over into our next phase of development that is building a multi year backlog.'
They need to get some cash through the door in time for those all-important Christmas bonuses...
rs1h • 1 hour ago
'We are pleased to share that members of our senior leadership team will be at Floating Offshore Wind on Wednesday 15 and Thursday 16 September. To schedule a meeting, please email media@harland-wolff.com'
#offshorewind #floatingoffshorewind #renewables
https://www.linkedin.com/feed/update/urn:li:activity:6839464198112731137/
Edit: This shows the speed that H&W are travelling at in this new field - great to see & time to be positive.I would add that as someone who was part of a team in Offshore Oil for which we were awarded 'The Queens Award for Exports' I understand team work.
I am a long-term holder of Infra shares, but a newcomer to this board. My interest in the company is as a former engineer on the Hornsea and Rough Storage projects for the then British Gas Corporation. In the run up to 'Tell Sid'. So I understand the strategic importance of the gas storage side. I am also enthusiastic about the shipbuilding side, having trained as a ship's engineer for Shaw Saville, back in the 1960s. Like everyone else, I have been troubled by the frequent capital raising.
What I would like to know is whether the Harland yard has experience of construction (or maintenance) of LNG fueled ships? I understand that the Ferguson yard, in Glasgow, got into dire straights over construction of LNG fueled ferries, as did a German yard the was contracted to build the Honfleur. The last I heard was that Brittany Ferries cancelled the Honfleur when the yard was in administration and the ship was near complete. I believe the part complete ship exists somewhere. Perhaps the project could be resurrected? Would most appreciate any views.
Not saying it is or it isn't just saying it's a possibility and wouldn't be surprised as there is a side to this company that for me is a tad sneaky .
With forward selling Stokey.question I tend to see lots of trades logged as buys going through in a fixed range and not necessarily with the sp going down.The selling is usually above the placing price or there would be no point in forward selling.
Chitta123 ref 08.47 If people were forward selling I would expect the share price to go down not up. The increase in the share price since mid morning yesterday is probably a combination of reaction to the MOD statement the day before that Team Resolute was one of the bidders who were awarded a contract to prepare a bid for the £1.6bn FSS Tender. Also H&W Senior Management made a presentation to the Energy Industries Council. The uptick in the share price can be tracked to about 15 minutes after that presentation ended.
Are we seeing the forward selling of a placing or is this volume related to some positive news event.?
I recall posting about these Irish patrol boats when Infa first aquired Appledore as they had been talked about locally before the yard closed. I was also made aware that they had been spoken of during the "vigorous discussions" that went on before Infa took on the yard. But then, so were fishing vessels for the Faroe Islands and support ships for Iceland.
Twelve months on... ???
Bit like the "highly anticipated new contracts" that were spoken of at the two events for prospective employees this week last year. I sure at some point some news will drop, out of the blue and it will all be forgotten in the rush.
Hope so. Bought a few more back first thing before heading out. :)
I was just reading the #infa posts on twitter and some tweets seem to be floating the possibility of some kind of announcement. I cannot see anything at this time to support this other than the post from Chrisatrdg this morning at 10.44. In particular note 4.
Malcolm Boswell post 3 wks ago:
' Good to see the return of the Sand Pipe @ Padstow, she looks fit and ready for work after a very successful refit and maintenance programe @ H&W Appledore in North Devon.'
https://www.linkedin.com/search/results/content/?keywords=H%26W%20Appledore
Yes oldtramp, but if the Irish Navy buy the 2 fishery patrol boats from N.Z. they are only good for the irish Sea, they will still need a further larger vessel for the Atlantic offshore .
Is this the one roly
https://www.irishexaminer.com/news/arid-40259555.html
My very recent understanding ( 10 mins ago ) is that the Irish Navy looking to replace the flagship vessel, deadline for tender was last May, I understand that H & W are 1 of the companies to tender, value €200M. Also looking for 2 post Brexit fishery patrol vessels, but it looks like these might come from New Zealand.
roly12 ref 15.23 post so if the Irish Navy is shopping or another 2 vessels allowing for increase in costs since 2015 INFA could be looking at around a £100m contract.
Like Chrisatrdg, i also registered for the H & W webinar this morning. Chrisatrdg's post is an excellent summary of the presentation.
The only thing i would add to it is that EIC (Energy Industries Council) who ran the event had a published list of all attendees on the webinar while we were watching it. I'd didn't expect them to make the attendee list public knowledge, however I'm glad they did as it was very interesting to see just who was watching it. There were some big big hitter names in the world of industry there, and some surprises too, inc Babco-k and others who might be seen as competitors in some of Infa's markets.
We've seen a couple of percent increase today in the share price (and that's a rare thing recently), so maybe this presentation has been well received by some interested parties.
Ps to NigelHaemo - Well spotted that a PI asked the IM question. Who i wonder might have mischievously asked that, lol ;-)
Stokey12, The last vessel they built was €60M/£41M, not sure the cost of the previous two.
roly12 ref your 15.11 post Do you recall how much they cost per vessel at the time.
I can confirm that when Bab**** owned the Appledore yard, they built three vessel's for the irish navy between 2010 - 2015, hence the obvious conection, however it was Bab**** who won the contracts,, I know that due to new British/EU fishing limits that the navy are looking to build (I Think) 2 patrol vessel's. Roly.
Odds that we are at the inflexion point now, 20% risk of imminent placing ie within months.
Good work Chris, that Q about the ML 100% came from a PI haha! The webinar was H&W focused entirely...
Chrisatrdg. Thank you for taking the time to listen and review.
Any talk of the supply ship contract?
Chrisatrdg ref 11.46 post your point 4 is interesting if I recall correctly Appledore has done work for the Irish Navy before so the Shipyard is a known quantity.
Hi Folks - Webinar now finished & my thoughts are as follows:
1) Clearly there is still some way to go for H&W to build up the business including building up a supplier data base to build their supply chain.
2) Unable to comment on the ML questions to go to INFA.
3) Cruise industry is clearly a difficult one to beak into as the cruise companies like to use their own supply chain & unable to comment on Azura.Work still clearly to be done.
4) A hint of possible work at Appledore for contract with Irish government (my interpretation) looks like could be an announcement soon.
5) All acquisitions have required & do require upgrades i.e. the dock gates at Appledore.
6) Employing consultants on how best to use the yards I think Belfast more than the others for flow of work to create efficiencies.
7) They consider themselves as a start up company but with a great future.
8) Slides from the event will be made available more was said that is what I remember.
In summary encouraging but clearly INFA has still a long way to go yet.
Whilst I am now fully invested, if the recent high of 20p is closed above, I will sell my body for a few nights and add to my holding with the proceeds. Might get me a couple of thousand shares hehe