Member Info for Lottie123

Let's not forget Stokey, a weak Pound enhances our pricing attractiveness vs our overseas competitors. Additionally, as a nation, we have been running a massive trade imbalance with the rest of the world. A weaker currency will hopefully transfer some of the millions of jobs we exported, nearly all blue collar heavy industry.

Stokey. The media, mostly left wing, are bashing UK but fail to mention...The Yen and Euro hitting two decade lows vs $ ...the Yuan breaking 7 and numerous other large traded currencies following suit. This is not a UK issue its a dollar issue. Oil has slid again. Gas down sharply over last 4 weeks. Expect the wild inflation projections to be totally wrong.

I think we are nearing the top of rate rises. Copper is down by a third, container shipments down 66% and term mortgage rates have doubled. Do not get carried away with the media.
The best news is Sterling has hit a 30 year low vs the Yuan. Down 50% from highest level and still got further to go.
The big 3 shipbuilders, China, Korea and Japan are now forecast, by some, to see a reduction in working age population of nearly 50% by 2050. They will not be building ships then.

I think we are nearing the top of rate rises. Copper is down by a third, container shipments down 66% and term mortgage rates have doubled. Do not get carried away with the media.
The best news is Sterling has hit a 30 year low vs the Yuan. Down 50% from highest level and still got further to go.
The big 3 shipbuilders, China, Korea and Japan are now forecast, by some, to see a reduction in working age population of neatly 50% by 2050. They will not be building ships then.

One final take from the AGM. With the company totally rejecting a buy back...management using every excuse not to put in more of their own money...with newcomers (to the board) doing likewise to make any first foray into ownership...I conclude they are content for shareholders to carry a heavy burden of anxiety/loss. I suspect, we will here of a management share option scheme at some point in the not too distant future, allowing for huge rewards should we see significant performance gains...OMDB!
What should be happening is an emoyee tax efficient share ownership scheme which encourages all 1,000 staff to save tax free each month. This would create a natural demand to buy stock...Plus adding an incentive for staff not to get too far into bed with the unions...hey ho, what do I know.

Impediment not incumbent re third line

Additionally, I did ask if the now, insignificant market capitalisation, would be an incumbent to winning contracts. The board stated that the balance sheet was far more influential and as such, no barrier exists. Again, I do not agree. Our balance sheet is poor at best. The market cap, in our position, gives a forward impression of our future. Currently, at 9p, that speaks volumes. Sadly, not good ones.
The SP is now just an option on the companies future. Selling is almost pointless for us long term shareholders. I did state to Management that I thought we had put the cart in front of the horse in terms of expenditures. I understand that a lot of investment was needed to bring assets upto effective operation. However, talk late last year was of imminent cash break even. This has been continually pushed back, no doubt by a huge hiring programme which is always way ahead of business development. I did ask about staff numbers and the olive branch is that non blue collar staffing is optimal and extensive contracts wins will not require additions. Time will tell.
I got the feeling that we, as shareholders, are expected to accept this is a 5 year plan and should have known better than to expect a return on our hard earned monies any time soon.
With the current poor investment environment for small and mid cap stocks, the road is not paved with gold. What we do know is, with work from FSS, no matter who wins, coupled with massive investment in offshore wirly gigs from 2023 onwards, revenues will grow at least in accordance with current guidance. Survival is not in doubt. IM holds the key to high impact potential so I guess the next 3 months will (fingers crossed) be the blue touch paper. If, in Jan 2023, we are still at 9p or God forbid, lower, I will be very surprised.

Chrisatrdg...I was indeed sat behind you. I asked about the cost of energy impacting on the current work programme. They said they were still in a fixed long term contract so the negative energy environment is not yet reducing margins.
I asked our new NED to put on her Investment Banker had and comment on a share buyback. She rebuffed my idea and said current finances are better targeted at future revenue generation. I do not share that opinion.
The second trache of debt has not been drawn on and JW said that Appledore was now generating revenues which I took to mean, draw down (second tranche) is not imminent.
The first Saipem legs are being painted but as for a Methil update, did anyone go to the recent site visit?
We are to expect upto 4 new contracts of varying size by mid October...that is my interpretation of comments.

Chrisatrdg...I was indeed sat behind you. I asked about the cost of energy impacting on the current work programme. They said they were still in a fixed long term contract so the negative energy environment is not yet reducing margins.
I asked our new NED to put on her Investment Banker had and comment on a share buyback. She rebuffed my idea and said current finances are better targeted at future revenue generation. I do not share that opinion.
The second trache of debt has not been drawn on and JW said that Appledore was now generating revenues which I took to mean, draw down (second tranche) is not imminent.
The first Saipem legs are being painted but as for a Methil update, did anyone go to the recent site visit?
We are to expect upto 4 new contracts of varying size by mid October...that is my interpretation of comments.

The questions raised that you mentioned (buy back etc) were from me. I will update with more feedback later today.

Happy with outcome, nothing new but reaffirmed positive negotiations on contracts. New NED gets my vote. I bought two blocks of 50,000 this afternoon

See you there... might be 10 mins late

A deal with Iran on its nuclear programme is inching forward. Iran has around 85 million barrels of oil sitting in tankers off the Persian Gulf. Oil could see significant declines.

Ship broker Braemar, saw their shares rise 18% yesterday to a 5 year closing high.
They have seen a significant uplift in profits, sighting greater activity. They state that shipping is being booked out to 2025 and that secondhand ships are seeing greater premium than before. Ship building is at full tilt and shortages are beginning to appear in capacity.
All good news for an idle shipyard with huge capacity...fingers crossed

Talk of dry docking in Amsterdam

The UN has reduced further, the estimated level of both working age and total populations of China and South Korea. It is now estimated that the working age populations will HALVE by 2070, with total populations halfing by 2100. Japan is already Stepping up importing foreign workers into its shipbuilding industry due to a rapidly dropping working age population. These three countries make up the majority of commercial shipbuilding world wide. They are pushing their economic growth further up the manufacturing curve with design and innovation in technology. Heavy blue collar industries will continue to see lower avaliable workforce and an increasing demand for wage increaes. Sterling is at a 30 year low vs Yuan which helps further. Whilst this process will take time to unravel, it is clear that an opportunity to reverse the fortunes of British yards will materialise.

This latest contract surely cements opinion that the diversity the group offers, is now beginning to show some very positive results. I realise this contract is not sufficiently large in value to change the revenue forecast dial very far but its very nature is of more importance. The commodity/energy super cycle we are currently in has generated many many billions of additional,revenue and profits, for the very people HW deem to serve. I think a small pat on the back for the management would not go amiss.

I am...yes you are...
Did you say fillet or filter...the former sounds best

Iamsailing...wish you would.
Ok we get it! Your ****ed off. Now move on. Sept 6th is the place for this now. End of.

I thought the RNLI platform was due out in July. I see it is still not painted.