Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Stokey...in my many years of mis-pricing contracts the reason for my poor costing was... factor X.
In other words...the unknown. Until you start breaking ground or dismantling, you have no idea what unforseen issues will arise. Just ask Hs2 management. They know a thing or two about raising estimates or the builders of the Scottish Parliament. Lets not talk about the Scottish ferry fiasco
Good update from JW which hinted at further updates in Q4 of new cruise bookings plus we anticipate, according to brokers Cavendish (formerly Cenkos), an additional barge contract...should these additional revenue streams be confirmed the 2024 revenue backlog would be nearing the forecast £200m.
What are the chances that the forecast is raised? Even a guidance of £200-230m would be significant because it raises the spectre of positive EBITDA and cash flow.
Yes, i know i am looking through (sea) rose tinted glasses but hey ho, ive been waiting four long years
LSE03. Good article. It highlights that the American investor is spending £300m into one port. HW have negligible debt considering they have 4 newly refurbished facilities plus a £1bn order book.
Nice post re US investment Synoogold.
Today saw the UK and Europe release their respective PMI data.
These show the current and prospective performance of both the industrial and service sector.
Weakness across the board has led many commentators to believe they signal recession in both areas.
Since the Bof E started raising interest rates, small and medium stocks have underperformed larger companies by around 30%. This is a normal reaction due to the domestic nature and debt profile of the smaller companies.
Today economic data point to the next move being down...in my opinion...If the wider market starts to come to that opinion, we should expect portfolio rotation to benifit smaller companies. Of course, it will not float all boats...see what i did there...but lets hope it floats a shipbuilder...
Can i ask why reasonably minded intelligent people would continue to read posts from individuals who clearly have no interest in informative, beneficial posts which we can debate.
The filter button is there for a reason. Whilst i no longer see the details from the 10 posters i have filtered, i do get pointless replies from people who are agitated by what they read because they refuse to filter. If we all filtered, thereby not relying, these individuals would soon get bored. By rising to the bait, you are perpetuating the endless, often offensive, posting.
Why waste your and my time?
Start filtering.
Cenkos did tentatively take the Sea Rose into their fcasts but confirmation gives them a more sure footing for their BUY note in September. They also refer to the expectation of a further barge contract (which makes the refent announcement of a tug purchase more relevant) and the hope that the new offices in Southampton and Miami will soon be producing cruise wash and brush ups.
If we now believe the 2023 and 24 revenues fcasts are nailed on...do we dare start to believe JWs £500m revenue projection??? Thats the biggy now. £200m gets to break even. Above that, we need to talk of net profits and who knows...dividends
It may influence Cenkos to update their forecast. The real positive will come if Liberum, the second shop broker appointed in last 12 months, sees this contract as the threshold to write their first HW research note. Liberum are far more institutionally focused than Private sharehloder Cenkos.
With £10m of the contract revenues in fy 23, the £100m forecast for full year 2023 looks all but done. Revenues for 2024 now total around £150m vs fcast of £200m. This target now looks very achievable and helps with the expectation of balanced cash flow which has been a concern for a long time. Well done to the HW team, yet another milestone reached.
Synoogold...well done. I agree. I am hoping the company have held back the contract confirmations until this, probably to be expected, appeal was lodged. Hence, no further bad news then the LoI, funding and potentially additional contracts eg barges? Cruise?
Stokey. Yes, it was to be a training ship for cadets, that got binned. Then various uses bounded about but recently, talk of Lithuanians wanting another mine sweeper so could be used as hull for that. Who knows. Like everything, we are taunted with wonderful upbeat expectations, only to be totally ignored. If the company have money to burn on projects and really believe in the future they paint, they should buy back stock at this level. At least initiate an employee shareholder tax incentive programme. Too much to ask whilst swanning around political arenas
I see JW has posted about mental health day and how the company takes it seriously...well for a start, they could announce the long awaited debt facilty and LoI confirmation, that would certainly help with mental health. . of the bloody shareholders.
Si...i totally agree. This so called fabrication company with its 50% footprint of coastal capacity have not signed a meaningful contract all year. This cods wallop of an announcement is just a smoke screen. With four yards and a much bigger payroll, the absence of work is very concerning. Nearly four years into the 5 year and very little to cheer about for investors. The management need to do much better. Stop messing about in, non focus, cash draining games and get the revenues moving.
Ireland is one of only two EU countries to have a budget surplus, Cyprus being the other.
The government is due to announce next years budget on Tuesday and it is widely expected to approve significant extra spending on infrastructure which has been a greatly underfunded, important national asset.
Additionally, at the EU summit in Spain this week, the Taoiseach made a speech in which he stated the budget would include supports, including energy.
Whilst this will undoubtedly relate to support for consumers, investment in the long term energy security of the country cannot be ruled out. With a budget surplus and a debt to GDP ratio of only 40%, sizeable spending for investment purposes would appear very possible and not imprudent.
Who knows, maybe gas/hydrogen storage and or support for wind farms etc
Rumelt. The Irish joined the EU because they could get huge free handouts which allowed them to bring the country out of the dark ages. Much of that money came via UK payments to the EU.
The tax rate is a con but yes, as you say it is for a sovereign nation to decide. The fact is, much of the revenues Ireland receives was genersted by companies business in the UK.
As for defence, be serious, Ireland needs to spend a fair amount to defend its shores. Relying on the UK is nothing to do with schools, if the UK were not so defence minded, this conversation would have been in German ya
Rumelt. So if i get what your saying, the Irish government are happy to side with the EU to bash the UK, happy to have a corporation tax rate which sucks revenue out of the UK....but leaves the defence of its sea to...the UK. Hhhmmm sounds like a good deal...for them
As a side issue relating to the Isles of scilly ferry. The debt facility the steam ship company have in place to build the next generation ferry would be based on cash flow assumptions of a company that holds a monopoly over the route. This ability to dictate fares is reassuring to the bankers. If that monopoly is then threatened by a third party, one who could potentially utilise substantial government funding, then projections of inflation plus fare rises become highly unlikely. This potential flaw in revenue is more than likely to lead to a suspension of the debt facility until such times as the threat to its monopoly is withdrawn. A game of chess is clearly in play.