Member Info for Bigears1170

MPS were legally entitled to introduce their tariff increases which they they notified GPHA within the prescribed timeframe back in May 2019 .......PF then released his AGM statement Mid June with his 30 day timeframe which ( despite his years of bullsh@t) I believe was well intentioned .....that 30 day timeframe was pulled from under WSG / Scanport / MPS when the ministry of transport issued their statement ( see attached link ) which PF could never have anticipated as MPS were acting entirely within the terms of their contract .....

http://www.mot.gov.gh/10/16/41/statement-on-ghana-ports-and-harbours-authority-(gpha)-concerns-on-the-commencement-of-meridian-ports-(mps)-operations

Following that intervention MPS were never going to award a LT MSC to anyone whilst they were in dispute with their client, hence our agreement to proceed with monies paid monies on account ......as you are probably aware MPS / GPHA reached agreement a relatively short time back as the new tariffs kicked in 2nd Dec 2019 .....so three working weeks ...... what would be a reasonable timeframe for MPS / WSG/SCANPORT to iron out the contract to reflect any changes and have the lawyers sign it off ?

Given it took MPS/GPHA just over four months to reach consensus on what appeared to be quite an entrenched and acrimonious disagreement.... come end of Jan we will have had a contractual AIP in place for the same period of time with agreed tariffs in place for circa two months ...... if no signed contract by then I’d be asking questions......|o:

if this is the port our man Conlan has been mooching around ..... |o:

https://www.arabnews.com/node/1603131/business-economy

I suspect Tosh is not far off with his $2M per year based on current throughput- 2018 numbers were 830k TEUs so not unreasonable to assume circa 300k TEU up to end of November.

I recall SFU throwing a guesstimate out of $3-4 per container ( stand to be corrected ) , an educated guess based on import / export being his game .....what’s clear is all the cobblers talk of $10 - $20 per TEU is complete nonsense.......|o:

Approaching six months of operations .....

“Our new Ghana operations are performing well and have already produced several hundred thousand USD in revenues” #underwhelmed

I suppose the website banana skin is in keeping with our record on delivery ....... would have been wholly uncharacteristic to have met one of our own self imposed timeframes ......|o:

I wonder if this is what it was supposed to cough out ...........https://www.euro-ops.com/gb/index.html

7th Category - Most counterfactual statement

Jan update
“We continue to work closely with our Iranian client and are pleased to report that the majority of issues and challenges created by the US actions have now been addressed “

To buy in to the notion of an implied long term contract being in place one has to accept that APM Terminals , the global terminal operating arm of the A.P. Moller-Maersk Group ( Maersk being the largest shipping company in the world ) operating a Global Terminal Network of 20,000 employees on five continents including 62 operating port and terminal facilities in 40 countries, and over 160 Inland Services operations in 47 countries......who ..... with its partner Bollore logistics ..... didn’t have the legal nouse to cobble together an “agreement” with a third party supplier which would protect APM /Bollore from said supplier successfully interpreting said agreement as a legally binding multi year - multi million dollar implied contract............that takes some believing .......|o:

Pmsl

25th July RNS
The Company has conditionally raised £1million before expenses by means of a Placing undertaken on behalf of the Company by SVS Securities Plc ("SVS"). The Placing will result in the issue of 10 million new Ordinary shares ('Placing Shares') at a price of 10p per share representing, in aggregate, approximately 6.9% of the issued share capital of the Company as enlarged by the issue of the Placing Shares.
The primary purpose for the funds is to part fund the manufacture of the equipment to be shipped and installed under the $3.48m USD contract for container screening solutions to two ports in Asia, which the Company announced in April 2019. The Company is now in possession of non-transferrable Letters of Credit and with this funding now in place we can get this lucrative project underway immediately, rather than wait for trade finance around the LCs to be finalised. The Company will receive 77% of the contract value on shipping of the goods later this year with the balance payable on commissioning. 

15th August RNS

In April 2019, our Technology division announced the award of a $3.48million US Dollar contract for the provision of advanced container screening solutions to two separate ports in an Asian country, which had been under negotiation for several months. Whilst the project is a high priority for the client, we could not commence operations and organise manufacturing until we had received the letters of credit in order to organise project funding - these arrived in mid-July. Following the fundraising on 25 July we have been able to immediately commence production and expect to complete the first installation on schedule in Q3 2019 and the second installation shortly afterwards, subject to any unforeseen delays.

PMSL (o:

I’d say Tosh nailed his /her identity in his 13.59 post .....(o:

Concur ..
“ The Company will update the market further on this important managed services contract once the contracts are signed “

" Luck is an accident that happens to the competent "

They were known to us as they leased the Sierra Princess to Sovereign ferries

PF will be pleased as punch with himself ....i wonder if that deal constitutes a material development..../o:

I doubt we will see any Tema numbers until MPS / GPHA have reached agreement - any publication of indicative revenues by any contractor within the port would be a stick for the unions to hit MPS with ......I’m sure we will have been told to keep shtum ....... so unless news on other fronts I’d be expecting the Christmas update ....... |o:

Mmmm can’t understand why that won’t open , the attached is a paper reporting on the same statement ...

https://dailyguidenetwork.com/no-job-losses-at-gpha/

I wager MPS intended to railroad the contract home sticking two fingers up to GPHA in the process ,as I suspect they are legally entitled........it was the ministry of transport who blindsided MPS and Fowler with their missive late June .....

http://www.mot.gov.gh/10/16/41/statement-on-ghana-ports-and-harbours-authority-(gpha)-concerns-on-the-commencement-of-meridian-ports-(mps)-operations

(o: