RE: Contract12 Feb 2024 12:27
@Stokey12, pure conjecture on my part,
however I have a suspicion that I could be correct.
If I was a cruise ship owner , looking to refurb and looking for finance to do so , I might very well consider the buyers credit facility. See link below.
If ?? Margaritaville and Villa Vie have availed of this, then they may well be the first of many to do so.
H& W due to their huge dry docking facilities have a massive advantage over many other UK yards , the sheer size of most cruise ships precludes many .
Reading about the facility , the minimum loan is 5mm and 15% must be paid upfront.
Perhaps loans agreed in principle, but until the UK exporter (H&W)
in this example have sight and confirm scope of work, it cannot be finalised.
Obviously many 3rd parties involved in any refit and therefore perhaps contracts NDA as fluid. I don't know.
Thus far , as far as I am aware, we haven't seen any such contracts go thru our books. Maybe they have a different criteria as to how they are reported. Maybe milestones for pyt release are set differently and the they amt to multiple small contracts for reporting purposes . Dont know ?
https://www.gov.uk/guidance/buyer-credit-facility