The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Yes,Chris .well spotted on your app .Not sure if the previous owners had P&O "on board" but this is a 20 year old ship and probably needs much maintenance ..not a bit like the BRAND NEW Chinese Built Stena Estrid which is laid up at Loch Ryan Port near Cairnryan with major engine troubles.we do need however some rather larger units in the big dock --they WILL come .I am assured !!
..The Brand new Stena Lie N.I. Ferry hot from China is undergoing urgent repairs to at least one of it's German Built Caterpillar Engines at Loch Ryan Port -Not sure if H&W engineers can go over and offer a helping hand ...see N.I. Ferry News today .Stena are bringing over a replacement Stena Nordica from Rotterdam as we speak ...Interesting !!
Am still here too ... waiting patiently!!!
Well done, Stephen in joining the I.I.'s ..or at least two of them ----you own the top right section of Samson and I am not referring to "scrap" value as hopefully both it and Goliath will be in good productive and constant us soon !!
Well, the Youtube podcast/interview with Donald Leggatt of LSE came and went in the week !
On the positive side as always JW came over as confident and eloquent using his wry Scottish accent and smile to best effect throughout with minimal interruptions to the flow and certainly not boring at all. "Now Look Ya here " seems to be his catch phrase !
We have a Midcap of about 8m. In anticipation of the interview and only partly as a result of the announcement on Tuesday of receipt at last of E.U. funds, there was seemingly exuberant activity in the market with over 1.2m value of shares purchased....now that is some value indeed with no real news on the Monday.So there is certainly pent up interest and demand but there will always be sellers until we have positively sound news not just " hope and expectation" as Fredr commented on Wednesday .
On the negative side we are still not clear as to the real reason for the extension of the consultation period,do we have any orders/work in the short term for the yard and are the employees being furloughed ?
JW is correct to say that he is not going to announce every new docking but the podcast gave no indication of actual likely occupation of both docks in the next 6 months as only reference to various "pipelines" and break even by year end .No mention of Barrow and any extension of the FSRU project. Only a glancing comment !
So we just have to hope that ML will indeed be just 4-6 weeks away with no hiccup,that H&W do have some firm dockings scheduled and that the money men and financiers have not given up on the project after Covid-19 and can still lead us to FID say by June/July ---hope indeed ! If JW pulls FID off and keeps H&W ticking over to break even he will have secured a blinder for this AIM Tiddler --One last thing..... there are increasing rumours of employment issues in N.I. and Larne area is not excluded !!
Interesting reminder Loosegoose of the “February Leg Breakers” ‘s terms ....but where would we be now without that working capital and could we achieve any such financing in the current market !! ? Just need some news that there is work in hand for April-May.
I hope they put the lights out before closing the dock gates ...and left a Bankers Order or even better "Cash " in the secret place ...no doubt there will be another ferry soon ..will let you know !!
Speedy's post of yesterday,whilst being a "good" find ( and well done by the way for his efforts ),it does not really add much that is already in the public domain about the national situation with Gas Storage and the problems with our various projects.
When we have final news that the M.L. is available ( with "reasonable and workable " conditions ) and assuming that JW's contacts are not affected or dissuaded by Covid-19 and still able to support us with Debt/Equity Finance enabling us to proceed at last to FID then the current doldrums will abate ..otherwise the storm will return with a vengeance.
More news soon about the cheque from Brussels, the result of D.D. at Barrow (and an extension of exclusivity if required and applicable) and finally some evidence of decent and significant contracts in the pipeline for H&W will all help to ride the storm if I.M. hits rocks --Most unlikely IMHO !! I fear though that we all have quite some further waiting to do, so get the 2000 piece jigsaws out --I have !!
............have been out trading this morning ..They must be worried ?!!
Hopefully the money to cover bill for the repair was left at the gate before it was opened ..looking forward to much bigger "fish " soon !
Should of course have referred to M.V. Isle of Inishmore --well done those who spotted my quiz mistake !!
...........is also now in dock so JW and his team at H&W have been busy ! This 1997 built Irish Ferries vessel usually on the Rosslare to Pembroke Dock route was ( according to N.I. Ferries Web Site) going to have a Scrubber Installation ( fancy words probably for a new cleaning contract fulfillment ) at Remontowa in Gdansk Poland but because the sister ship having the same is taking so long this was postponed and we have a brief docking ..I suppose better than nothing ..
Someone more capable than I will be able to provide the link --Chris perhaps !! Anyhow in these "dark" times all this is better than no activity being shown though I understand that there a lots in the pipeline (excuse the pun ),I suppose ...stay safe!!
......is now currently moored in our smaller dock at H&W. She is Norwegian owned by Misje Rederi AS and Bahamian flagged ( Nassau) Built in 1991 she is a small Bulk General Cargo vessel.She has been moored alongside for about a week probably waiting for JW to cash the cheque !! At least there is work to do in the yard amidst all the gloom now !!
According to Aljazeera today a large cruise ship has docked in Genoa ready to be urgently converted into a floating isolation hospital ship....so the idea is viable and probably very practical ..Watch this space and forum very carefully as it develops in the next few days ..JW has probably done well to get his feet under the door !!
......and also the post from Liquid is a timely reminder of JW's significantly painful but strategic holding in Infa ...."You puts your money where your mouth is"... etc.When the boss shares some of the risk ( and boy ,is there risk here !?) and has been prevented from increasing a holding due to Closed Periods or whatever if he ( or she !) were to take a further plunge even if it was to bring the average down then that would speak volumes !
Just to say thank you,Mr Liquid Silver ( or should it be Gold ?? ) for a positive and detailed well thought out post which is unusual for the drivel that often appears at weekends if at all. I too have been dabbling at under 0.3 ..I reckon that as soon as news flow overrides the doomsters and Covid-19 scaremongers our faith in JW & Co will indeed be rewarded..I too with others had a chat face to face with JW AR and JT at the AGM and there was certainly no long term gloom ..H&W had sound prospects when purchased at just over 5M and subsequent events and connections and team building are proving /enhancing those prospects ...IMHO of course !!
Nice One ,Radders,.....in fact brilliant considering that we all now "doomed"--I did post last week about bringing Cruise Liners alongside our berths or even in the big dock for refurbishment or update whilst the industry is in turmoil and it does seem that with Gov.support and JW's great contacts and persuasive powers we may have some great news on this front soon ....along with receipt of some dosh from Belgium and dare I say the ****** ******e !!...unmentionable still !!
.............in the affairs of man which ,when taken at the flood,leads on to fortune ". Talking about "flood " now is the time to open the gates to one of the largest Dry docks in W. Europe and grasp the opportunities upon us... hopefully the new H&W team are out there touting all those Cruise Liner companies whose ships will now be well placed for a stay of recuperation /refit and update whilst cancelled cruises persist ...just a thought....Seize the moment !
I was expecting choppy seas in March ..but not Cov19 ---we certainly need some positive news by the end of the month or early April to help overcome the swell on this interrupted voyage --Hatches firmly down for a while I fear !!
.....but be ready to open them when the stars ?? are aligned .. remember that our dry dock and cranes were completed in 1969 with Gov. help at the start of “the troubles “
To build it today( by blocking off the tributary of the Lagan as they did )would cost in excess of ..............yes £400m !! There are few such facilities in N Europe !!! Lots of opportunities! £5.2m was a snip !