The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hi Kaeren - Your post at 17.51 is how I see it & it seems to me that H&W may not have been the original place where the work was to carried out hence it being a 'fluid situation'.I am guessing we will get an update next week as I am sure works will need to start soon in order to meet what is a tight deadline.
Who Terramare are see below:
http://terramareglobal.com/clients/
Edit: Who ever the lead contractor is this must be a feather in John Woods cap for landing involvement in this work & bodes well for the future.My guess is that H&W will be the lead contractor.
SONGA CRYSTAL Crude Oil Tanker now docked in Belfast, as previously mentioned, clearly an expansion of the clients H&W are taking on board & bodes well for the future.
http://www.vesselfinder.com
Below posted on H&W LinkedIn post re Cruise Ship in Belfast (All things becoming clearer but is H&W the lead contractor?)
Francisco PorrasView Francisco Porras’ profile • 3rd+
Managing Director - Founder | MBA | Project Management Expert | Lean Six Sigma1h
'Graham and Team, Our group is looking forward to manage a successful project at Harland & Wolff. We are delighted to be working with such a professional group.'
http://www.linkedin.com/feed/update/urn:li:activity:7151577328169467905/?commentUrn=urn%3Ali%3Acomment%3A(activity%3A7151577328169467905%2C7151664790359187457)&dashCommentUrn=urn%3Ali%3Afsd_comment%3A(7151664790359187457%2Curn%3Ali%3Aactivity%3A7151577328169467905)
Http://www.linkedin.com/feed/hashtag/?keywords=margaritavilleislander
Francisco PorrasFrancisco Porras• 3rd+ • 3rd+
Managing Director - Founder | MBA | Project Management Expert | Lean Six SigmaManaging Director - Founder | MBA | Project Management Expert | Lean Six Sigma 1w • 1w •
Follow
'Incredibly honored to have my company, Terramare, participate in the renovation of the hashtag#MargaritavilleIslander, alongside a team of exceptionally talented individuals who share Terramare’s vision: to be a trusted leader in project management construction consultancy in the marine industry. This dream has been in the works for the past 5 years, and I am beyond grateful for this opportunity. Excited to be a part of this journey. hashtag#finnsup.
We wish everyone a wonderful and blessed 2024. '
Si_Derman - I tend to agree with you but we will find out soon the post suggests it is a developing situation but what we do know is that the ship is docked with us 'A bird in the hand' etc etc.
Unusual for me but my question is 'Where is that 'Red Dot' John?
I think it is now time for a 'Full Trading' update as at 31st December 2023.
Belfast docks looking busy this evening based on vessel finder & bodes well for H&W reaching its turnover FCST for YR 2024 .
http://www.vesselfinder.com/?p=GBBEL001
Edit: Based on current & recent activities I see a SP improvement this month.
The current position of MAS ISLANDER Passenger (Cruise) Ship shows it arriving at 7.00 in the morning now
http://www.vesselfinder.com/?p=GBBEL001
Edit: Agree with Kaeren & MaryBr190
Thanks Kaeren for your 20.19 post which sums the situation up very well & I totally agree with.My only point is that if I felt there was a risk of loosing my investment I would have Sold all my shares on the 31st August 2023 the day of the IM tribunal at a small loss.I feel that this Qtr1 2024 will be the turning point for H&W & will prove many negative posters on this board that they were wrong.I would also add that the Appledore news today & possible positive news Wednesday morning suggests that H&W is moving in the right direction.
Hi stokey12 - I believe your last post summarises the position very well & supports why I continue to invest in H&W.We have been told numerous times by H&W that they have the funds for them not to have had to wrap up the finance deal last year.As a retired accountant & auditor I accept that recent balance sheets published by H&W & are FCST for Yr 2024 that current liabilities exceeding current assets is not a good look.However H&W tell us that they have a positive cash flow which in itself is quite a feat considering my previous comments.In my opinion we will see a different picture by the end of Qtr1 2024.Time will tell & finally we may get a pleasant surprise when we find more about this cruise ship arriving in the morning.
While looking to trace the Cory Barges earlier this morning I noticed that MARGARITAVILLE AT SEA ISLANDER is bound into Belfast in the morning I note it has a Bahamas flag can someone tell me where it is bound for it says SRQ is that Harland & Wolff?
http://booking.belfast-harbour.co.uk
Hi LSE03 - I agree the link you refer to is of interest & bodes well for future work & connects H&W with BAE.
Contd:
Tom Hart, General Manager of Harland & Wolff in Appledore added, “We’re delighted to welcome the KBS project team to witness cutting steel. The existing cable barge has served well for over 25 years, and we are looking forward to building a modern, more capable alternative in her image that will help to serve the Royal Navy. Additionally, our work on this contract will enable us to continue growing both our workforce and our skills as the yard looks to ramp up for the delivery of the FSS contract.”
KBS Maritime’s New Cable Barge Initiates Construction as Harland & Wolff Cuts First Steel
International shipbuilding and naval defence contractor, Harland & Wolff, has today cut first steel on a new cable barge it is building for Portsmouth-based KBS Maritime Ltd. The ceremony took place at Harland & Wolff’s Appledore ship factory in North Devon and was attended by technical representatives from KBS Maritime and Harland & Wolff’s engineering team.
In a contract valued at approximately £800,000, Harland & Wolff has designed and will deliver in Spring 2024, a specialist cable barge that will enter service in His Majesty’s Naval Base (HMNB) Portsmouth. All construction work will be carried out at Appledore in parallel with existing defence and commercial projects currently underway at the site.
KBS Maritime Ltd is a joint venture between KBR and BAE Systems and delivers hard facilities management and alongside services to support to the Portsmouth flotilla. The base is home to almost two-thirds of the Royal Navy’s surface ships, including the flagship aircraft carriers HMS Queen Elizabeth and HMS Prince Of Wales, Type 45 destroyers, Type 23 frigates and mine countermeasures and fishery protection squadrons. On average, 700 ship movements a year take place, from a single ship movement to the deployment of the Carrier Strike Group.
The new cable barge now under construction will be used by KBS Maritime as a floating platform to lower anchors and associated cables chains from ships so that they can be tested and refurbished as required. The barge will be used to support alongside operations for Mine Hunters, Type 23’s, Type 45’s, and, when commissioned, the new Type 26’s and Type 31’s.
Harland & Wolff’s naval architects have worked closely with KBS Maritime’s engineering team during the design phase to incorporate features that will improve the safety, capability and efficiency of alongside operations. The barge currently in service has, over past 25 years, been heavily modified and the learnings from these modifications have been incorporated into the new design.
James Davis, Managing Director at KBS Maritime said, “The acquisition of the new cable barge is a key investment supporting our Asset Management strategy across Portsmouth Naval Base. By working with Harland & Wolff to design a forward-thinking and purpose-built barge, specific to the needs of this busy Naval Base, it will enable our Alongside Services teams to continue to deliver vital services to the Royal Navy in an efficient and safe way.”
Tom Hart, General Manager of Harland & Wolff in Appledore added, “We’re delighted to welcome the KBS project team to witness cutting steel. The existing cable barge has served well for over 25 years, and we are looking forward to building a modern, more capable alternative in her image that will help to serve the Royal Navy.
http://kbsmaritime.com/kbs-maritimes-new-cable-barge-initiates-construction-as-harland-
Hi stokey12 - I can only guess that the contract value must be much less than you have estimated.I think H&W's criteria must be one of £1m plus before issuing an RNS however it is good news for Appledore & is one where clearly Appledore were competitive.I added an edit referring to the lowly current SP hopefully we will get a correction soon.
Harland & WolffHarland & Wolff 31,108 followers31,108 followers 18m • Edited • 18m • Edited •
⚓FIRST STEEL CUT ANNOUNCEMENT ⚓
'Work is now underway at our Appledore yard on the construction of a specialist cable barge for defence contractor KBS Maritime Ltd. First steel has been cut and once complete this Spring, the barge will enter service in His Majesty’s Naval Base (HMNB) Portsmouth and support naval vessels such as Mine Hunters, Type 23’s and Type 45’s.
James Davis, Managing Director at KBS Maritime said, “The acquisition of the new cable barge is a key investment supporting our Asset Management strategy across Portsmouth Naval Base. By working with Harland & Wolff to design a forward-thinking and purpose-built barge, specific to the needs of this busy Naval Base, it will enable our Alongside Services teams to continue to deliver vital services to the Royal Navy in an efficient and safe way.”
Read the full press release here:
hashtag#MakingWaves 🌊 hashtag#Defence hashtag#CableBarge hashtag#RoyalNavy
http://www.linkedin.com/feed/update/urn:li:activity:7150426134403325952/
Edit: The current SP is 'Total lunacy '.
SONGA CRYSTAL Crude Oil Tanker docked this morning in H&W Belfast
http://www.vesselfinder.com
Edit: Good start to the New Year hopefully more to come.
Based on the current trading there are clearly many people who think H&W are a bet worth making you never know we may end up a 'blue day'.Posted by someone who is ever the optimist.
Hi stokey12 - I think as indicated by my previous posting that we are safer working on the basis of all matters relating to the finance deal being completed in Qtr 1 2024 it is when in Qtr 1 2024 hopefully Feb or latest March I do not see it being January hence no date was given in the RNS.The only indication of timing was the deal will be in place before the money runs out.