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Interesting Article from cruise industry news, just illustrates the popularity of suitable large dry docks located in Europe at the moment with the Cruise lines. Lets hope the Infa team can translate their current tenant into a large dry dock project .
https://www.cruiseindustrynews.com/cruise-news/25670-drydock-frenzy-as-cruise-lines-restart.html
The answer to your first question is easy........the Viking ships are parked in Belfast as it costs a hell of a lot of less to tie up a ship in Belfast than in Norway.
They are brand new ships built in 2017-18 and will only need a dry docking if there is warranty works to undertake. None of these ships have been dry docked In Belfast as yet but having them parked up would definitely helped drum up interest when JW was punting the company out to the IIs. The PIs invested in this company have played their part and its over to the IIs to provide the funds to move this company forward. Everyone knows this company is skint hence the new cash call which I called weeks before only to receive a load of abuse from the JW puppets and clowns who frequent this forum.
The reality in my opinion is the ML may come but it will be granted with that many restrictions it won’t be worth the paper it is written on. JW knew this long ago and quickly needed another revenue stream to maintain his lifestyle, hence the reason he bought the shipyard promising all kinds of work that was apparently in the pipeline. Outside of the Viking ships there hasn’t been a client brought into the yard that wasn’t already a client prior to the shipyard going into administration. In the meantime he has raised £15million to fund this purchase.......
Morning..........looks like the Viking Sun is on its way back to Belfast/H&W. Hopefully they will be able to dry dock some of these vessels as thats were the real coin is at. As can be seen from recent announcements in the cruise industry you don't get much revenue for parking these vessels.
Another Car Crash for loyal PIs..........any PIs that remain invested in this company are either delusional or have too much money. The reason I invested in this company was the fact they had landed the H&W facility and they are making a right mess of that. I said this before that large engineering projects with potential environmental issues do not happen in NI.........
You would be better putting your money on a single number on the roulette table............
Hey Tango..........as a poster and investor in Infra I have very right to ask the awkward and probing questions. If that does not make me popular - tough luck. I have every right to post my opinion which are always structured and researched unlike the majority of amateur hour cheerleading that goes on in this forum.
I have seen this time and time again with AIM companies where private investors are always the last to know before a company disintegrates before their eyes and they lose their hard earned cash. The directors are never too bothered as they have been earning massive salaries in the period of directorship and will move onto their next position. By the time this happens the smart money has already cashed out......if you don't know the answer to my questions just leave it to the more informed posters on this board that seem to have their finger on the pulse.
Does anyone know if the final payment for H&W (£1.5M) has been paid to the administrators and what is the latest on the payment to Constain. The administrators published a report recently on the ongoing administration process of the now redundant H&W company which makes interesting reading and is still ongoing?
If infrastrata cannot/refuse to make the final payment what is the potential implications in terms of the lease agreements between Infrastrata and their landlord BHC?
If this figure of £700k a month is accurate then we may have to raise more funds in the immediate future. Those sort of overheads equate to at least a turnover of £15-£20M to be in the black. How have you arrived at this figure?
H&W have two docks - the main building dock (one of the largest in Europe) and the ship repair dock.
Several people have commented on the fact that the ship repair dock (sometimes referred to as the Belfast dock) is out of service hence the reason the Arrow and Stena Europe were docked in the main dock. I think the management released a statement saying it was under maintenance. Possibly this has now been fixed and the owners just decided to dry dock in Cammells, which is of course a direct competitor to us.
https://www.vesselfinder.com/?imo=9119414
Looks like the Arrow is dry docking in Cammell Laird Shipyard, its a pity we couldn't take it. They need to get the Ship Repair dock back into service or possibly they have enough work as it is??
Well done dawski37.........finally somebody on this board realised the real reason they decided to dock a small ship like the arrow in one the largest docks in Europe!! This would have come at a price though as it costs a hell of lot more to fill and empty this dock than the belfast dock due to its size and the fact it was built as a 'Building dock' not a repair dock - Huge difference.
Anyway the P&O ship going in and out so quickly a few weeks back was the clue that there was something wrong with the gate at the belfast dock. Good to see somebody on this board is doing a bit of research.
Can anyone tell me what has changed here over the last month to dictate the massive swing in share price we have seen. A share that was trading close to £40 a share pre-Covid and then drops into the £6 region and then rebounds to above £17 and then back down to £11ish????
Like nothing has changed? All of Carnivals brands have their ships tied up but in the mean time the company has shored up its finances thanks to easy money from Trump and they are currently reducing their monthly costs. It just doesn't make sense????
I have successfully traded in and out a few times but this time its definitely a white knuckle ride.............
Does anyone know what authorities will dictate when the cruise ships can start operating again? Is this a mixture of when the actual companies can demonstrate that they can operate in a safe manner and the local geographic authorities? e.g. the USPH or CDC
I see some of the smaller lines are looking to resume services in late July of this year. I am interested in when and how the big 3 will return to the seas??
I have been a long term follower of this share and have been amazed by some of the posts recently by pi's and how heavily invested they are in this company in terms of their pension funds and SIPPs. I must admit that I was tempted to invest in this share at various times but that interest has disintegrated recently and even after reading the most recent RNS I find it hard to believe that you can put a positive spin on this RNS.
Main areas of worry for me are the following:_
IM project - these large scale engineering projects with possible environmental concerns do not have a good track record in NI. You only have to look at some of the Gold mining companies that have been trying to develop fields in NI over the past 20years with very limited success. Once local opinion gets poisioned even the best PR company in the world will have a job selling this and getting it up and running.
H&W - the cashburn is unreal. Why has nobody highlighted this? 2.7m in 6months - without a clear breakdown you can only assume that a large part of this was the wages of the facility and the newly recruited board. The assets of the facility have been independently valued at £11m? but surely everyone must realise that it would be near impossible to ever realise those assets, as who is ever going to buy large bespoke crane-age/dockgates that are only useful in their present use/location. Otherwise to this they are merely worth scrap value.
Timing - I think the management have been extremely unlucky in their timing. You must realise every cruise ship in the world is currently tied up and the companies will be reluctant to spend any more funds on them until they have forward revenue coming back on stream which will take some time considering the negative press they have had recently. The oil and gas industry is also on its knees.
Debt - is nobody concerned about the amount of debt they have taken on. The asset backed loaned for £2m is credit card lending at best and this was secured well before the pandemic crisis.
Do your own research into this, for example did anyone ever wonder how the former company managed to burn through £25m in cash over the last three years of operation of the facility? At this time they had a competent board and workforce in place and were carrying out major projects.