The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Https://www.scilly.gov.uk/news/statement-council-isles-scilly-isles-scilly-sea-links
pdf also embedded
Https://www.islandmageeenergy.com/about-us/#:~:text=Since%20the%20inception%20of%20the,marine%2C%20geological%20and%20geophysical%20studies.
The website says £14.5m, may be out of date.
Saw that Bubble 👍 and seems to be a push across UK media ( like Sky news today ) for the need to push UK defence spend higher.
https://www.gov.uk/government/news/foreign-secretary-calls-on-nato-allies-to-spend-and-produce-more-in-the-face-of-russian-aggression
Https://www.offshore-energy.biz/cma-cgm-picks-damen-to-upgrade-100-vessels/
Great deal for Damen
Up until now, CMA CGM has been using shipyards in China and occasionally in the Middle East, but this agreement marks for the first time their use of European yards for these complex modifications.
In January this year, the French shipping heavyweight signed a deal with China State Shipbuilding Corporation’s Qingdao Beihai Shipbuilding Co. to carry out a containership methanol dual-fuel conversion project at Beihai Shipbuilding. The deal is expected to cover 9,360 TEU vessels built around a decade ago, with the commencement of the contract set for the beginning of 2025.
That's a big deal / market
📢 📢 Government Procurement #Opportunity - Prior Information Notice (PIN) for the UK Border Force Maritime Capabilities Replacement Programme (MCRP).
ℹ This PIN is for the replacement of the current fleet of five Cutters and six Coastal Patrol Vessels, this is not to be confused with the PIN for the Ships Life Extension Programme (SLEP) which was published recently. More information can be found here: https://lnkd.in/dNHHMqEp
🛥 This is an exciting #opportunity for the #UKshipbuildingenterprise and the NSO hope as many as possible can participate in the market engagement exercise.
✅ Suppliers who are interested in participating in the market engagement are requested to submit their expression of interest by e-mailing: bfvesselsteam@homeoffice.gov.uk by 17:00 on 3rd May 2024. Please ensure that the subject field states “C17501 – Expression of Interest – Maritime Capabilities Replacement Programme (MCRP).”
➕ Following receipt of expressions of interest, suppliers will be invited to an Industry Day event which is expected to take place on the week commencing 13th May 2024.
UK Home Office
Description
The Authority acting through Border Force (BF) is conducting a review of its maritime capabilities with potential for a replacement of the current fleet. The current fleet consists of 5 Cutters and 6 Coastal Patrol Vessels (CPVs).
The new vessels will be required to contribute to Maritime Security through cross Government working (particularly with the MOD/Royal Navy) and provide support to the Military in a National crisis response.
Noting the additional capabilities required (noted in more detail at section 11.7), the new vessels will be procured via the Defence and Security Public Contracts Regulations 2011 (as amended) or as a defence and security contract under the Procurement Act 2023 if a tender notice is issued after its commencement (likely 1 October 2024)
Appledore Clean Maritime Innovation Centre
A few drone shots from our Appledore site - the demolition phase is nearing completion, with the clearance enabling development later in 2024.
We can't wait to see the opportunities that this Innovation Centre brings to the area 🌊
Good photos of work underway and highlights close proximity to the H&W Appledore yard. From memory £15.8m development.
Again like Stornoway Port development will be of benefit to H&W.
Tender notice is issued after its commencement (likely 1 October 2024). It is expected that UK, British Overseas Territories and Crown Dependencies suppliers will be allowed to bid for this opportunity. They may submit bids with international sub-contractors or they may form joint ventures or consortia or similar with international parties, subject to appropriate legally binding agreements being in place. Please note the following:
• A Modified Off the Shelf solution to meet military requirements is expected (or potentially a new design) which may include; enhanced resilience (additional ballistic protection), an armoury / magazine, enhanced survivability (watertight compartments), hull signature control measures etc. Consortiums or joint ventures must be led by a UK, British Overseas Territory or Crown Dependency supplier
• The ambition of the Authority is to enable the design modifications, procurement activity, assembly and commissioning to be delivered in the UK (or British Overseas Territories and Crown Dependencies) (in line with the security requirements)
• Vessel support for an initial short period (tbc) (as necessary) would be provided in the UK.
Any security requirements and financial standing assessments will be equally applicable to all parties in the supply chain.
The precise mix of vessels has not yet been agreed and will be informed by Market Engagement.
As part of this initial market engagement exercise, Border Force is looking to engage with a range of interested suppliers (including those based overseas) to better inform a future procurement with respect to capacity, capability, configuration, costings and timelines.
The initial data gathered will be used to inform decisions around how Border Force might deliver the future capability including a high-level view of potential replacement vessel options and the fleet mix (this could also include through-life support, training, communications systems, and other associated equipment) and future procurement strategies and routes.
Https://www.glassdoor.co.uk/job-listing/border-force-border-transformation-engineering-delivery-manager-maritime-capabilities-replacement-programme-home-office-JV_IC3298888_KO0,107_KE108,119.htm?jl=1009089424858
Interviews completed it seems looking at the dates
Bidstats have published on Maritime Capability Replacement Programme today
Https://breakingdefense.com/2024/04/austal-rejects-hanwhas-takeover-bid-for-now/
Https://renews.biz/92261/cip-impax-net-irish-funding/
The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency, has announced three new climate investments targeting offshore wind energy, renewable energy developers, and start-ups in energy transition.
The investments include €200m in Copenhagen Infrastructure 5, the latest Flagship fund of Copenhagen Infrastructure Partners, and €50m Impax New Energy Investors 4 Fund. Both CIP and Impax are currently developing wind farms in Ireland.
The final investment was €30m in ArcTern Ventures Fund 3.
Https://m.theinvestor.co.kr/view.php?ud=20240402050709
Hanwha, on the other hand, explained that it sees a high chance of a successful takeover, citing its recent businesses in the Australian defense sector including the K9 self-propelled howitzers and Redback infantry fighting vehicles, which Hanwha Aerospace has exported to Australia, and the amicable relationship between the Korean and Australian governments.
According to industry sources, the buyout discussions between Hanwha and Austal have been ongoing since the former initially proposed the takeover offer about six months ago.
“When Austal first raised the possibility of the Australian government disapproving the Korean company’s attempt to take over its defense company, (Hanwha) carried out due diligence through a global law firm and confirmed that there were no issues regarding Austal’s concern,” said one of the sources.
The source added that Austal agreed to the result of due diligence on obtaining regulatory approvals and proceeded to carry out business due diligence in March but abruptly canceled an on-site inspection a day before the planned schedule.
Hanwha’s positive outlook for the takeover completion has gained steam as the portion of Australian companies that ended up getting disapproval for a buyout attempt from a foreign entity is estimated at only 0.2 percent among some 4,000 takeovers over the last three years.
Hanwha said the Austal acquisition is expected to create synergy as Hanwha Ocean’s steel ship capabilities will open up chances to score battleship exports across the world if combined with the Australian shipbuilder’s existing businesses, particularly in the US defense sector. Austal’s shipyard in Alabama accounts for about 80 percent of the firm’s revenue.
Yes Bubble 👍
https://www.worldofcruising.co.uk/cruise-news/first-cruise-ship-stornoway-deep-water-port
The 48,000 gross-tonne MS Ambition arrived in Lerwick at 7am on April 1, 2024, before departing for Belfast at 1pm the following day, disgorging 1200 passengers upon the Hebridean shores of Scotland's new cruising hotspot.
It will be a further three weeks before the next sizeable cruise vessel arrives following Ambassador’s inaugural visit, permitting the final stages of port construction to continue throughout April.
The port may still have been under construction as Ambassador Ambition threw her mooring line, but the symbolism is clear – Stornoway’s future has arrived.
An incredible milestone achieved today at Stornoway Port with the inaugural docking of a vessel at the new Deep Water Terminal.
We welcomed the Ambassador Cruise Line vessel, 'Ambition,' for its maiden call to Stornoway, the first of 45 large cruise vessels due at the Terminal this year.
The new terminal will be able to accommodate cruise vessels up to 360m and we look forward to many more successful voyages and milestones ahead! 🛳 🌟
Good news for H&W hopefully soon, Deep Water Terminal Stornoway Port niw operational.
Https://financialpost.com/pmn/business-pmn/macquarie-unit-is-leading-50-billion-investment-in-offshore-wind
Corio Generation Ltd., the fully owned offshore wind unit of the Australian financial giant, along with partners including TotalEnergies SE, plans to make the investment over the next seven years in markets that include New York, New Jersey, Scotland, England, Taiwan and Ireland, said Chief Executive Officer Jonathan Cole.
If Hanwha were ultimately successful presumably they would novate the MoU with Harland and Wolff
https://www.naval-technology.com/deals-dashboards/signal-harland-and-wolff-signs-mou-with-austal-australia/
They are also looking at European shipyards. H&W could be a candidate. Invest NI offices in Korea may be able yo facilitate a discussion.