Member Info for MikeGP

Threeputt,..

If we were talking a tech contract where we were taking interim payment before a piece of kit was installed, tested and operational I would agree,.. some the monies recieved 'on account'.... might be booked as derek revenue,...... but in this instance,... we are presumably be paid for services rendered on a weekly/monthly/pership basis in areas,... The services that we have provided have been provided and should be booked accordingly? That's my reasoning.. ( not an accountant though,.... so I am sure there are more enlightened than me on here!!).

Threeputt,..... don't see why the revenue received to date would have to stay off the balance sheet? It clearly must be at a and agreed 'Rate',.... presumably a price per TEU. If that has to be adjusted at some point in time,... that could be via a Credit Note,... should the new rate be less than we are currently working to,.... or an invoice to cover any extras due. The long-term contract being in place, is irrelevant IMHO.

.. the first time that we have three ships line astern, with the the additional 200m of 'berthing' wall now available.

KMarin Azure and AS Carelia and Frisia Amsterdam

https://www.marinetraffic.com/en/ais/home/centerx:-0.007/centery:5.610/zoom:15

All in place at 14.33--- although suspect the AS Carelia will be off soon.

Aiming,... sorry,.. maybe wasn't clear.

IMHO I don't there is much downside from hear,..... hence ny comment that worst comes to worst,... we'll pretty much tread water until the Trading statement at end of Jan,.... and then when the market wakes up to a 70-80% increase in turn over on the previous FY sales turnover we should be in a better place.

I meant binary in the sense,..that if you believe that the contract will land this side of xmas,.. then you need to be in now,...

.. 14,000 TEU,.. MSC Ravenna left port this morning,.... was docked for 3 days,... as opposed to usual average 2day turnaround for the smaller vessels.

... and 10 trading days to Xmas.

You're in or you're out. Doesn't get a much more binary bet than this.

Downside scenario...it doesn't land before xmas,.... but we have a stellar Trading update to be delivered before the end of Jan.

But the pressure is building from all sides to get this resolved.... and so IMHO it is more likely, not less likely, that this will come to a head, and be sorted this side of xmas. Especially if MPS have refused to reduce the Dec 02 tariffs until an agreement is reached.

It's a 24/7 operation and operations they have been ramping up for the past few months. They won't want that to come to a standstill.

May be a tad harsh chaps,... bh ... apologised within 2mins of me posting! Personally i wouldn't bin him.

.. and Foxy has made a joke!!!

All is well. :)

bh,.... hey,.. at the end of the day we are free to post whatever we want,.... but we do seem to have gone a little of piste now! Climate change is an interesting topic,.. but of no real relevance to this site, IMHO.

If only we had some decent news coming out of the company I guess we'd have something relevant to discuss.

Anybody else put some year end financial together for discussion?

Best

... seen the WSG Board?

Agreed Aiming..... MPS gave us a figure for September,... but precious little since then. I even messaged them direct for the October numbers,.. but never heard from them,... shame there isn't a site which would allow us to monitor that,... or maybe there is,.. and we haven't found it yet?
Best.

... the announcement that an additional 200m of berthing frontage is operational we have a monster ship in Port,...

https://www.marinetraffic.com/en/ais/details/ships/shipid:758688/mmsi:636092268/imo:9484431/vessel:MSC_RAVENNA

MSC Ravenna,... over 365metres long and over 50m wide--- that's about the length of 3.25 premier ship football pitches!

That's my understanding too Tosh..... plus,.... I don't think MPS have yet conceded the 20% volume. I haven't seen that reported anywhere officially,.... in fact there is an article out there where GPHA say that the 10.9% negotiated was NOT related to any negotiation over the 20% volume.

three putt,

Ghana went live very end of June with a slow start up,.... but by September MPS confirmed they were operating at circa 65,000 containers/months. Since then my little log has shown that the run rate of ships has increased so I would suggest that the 65K is now higher,... prob late 70K's and the average weekly ship movements has gone from7to 8 to 9 to 10.
From the previous Port Tariff for Tema 2019 I identified something like circa US 13$ for the WSG/Scanport security handling,... 20ft Teu(full),.... circa £10... of which I assume WSG will get circa 70% ie as per the PH comment,.. " we will get the lion's share".

So I was conservative... as per my post--- 6 months at average monthly 62K TEU's x £7. That its's it.

62K is prob an under-estimation,.... and I suspect the £7/container might be too as believe there may be additional fees based upon unloading and inspection etc., of containers that get the 'red' light.

Hope that helps.

The Lunghi figure was based on circa 122k pax,... up from last years 113K pax. Then at 50% because we only get paid for embarkation,.... and then at US $40/per passenger. All pro rata'd for 6 months of the year as estimates relate to H2 only.

Best

... all to have a pop at!!! Be gentle with me!

Gross Sales- Full Year 2019 ESTIMATES

H1 - Reported as £5.6M Gross sales as per Half Year Report.

Managed Services H2 -Estimates!!

1.Lunghi- passenger-£1.3m
2.Lunghi-Freight- £25K (Guess)
3.Tema- £2.604M (say 6mths x ave 62K continuers x £7/TEU to WSG)
4.Keyguard- £0.7M (Discounted from projected £1.5M/annum)
5.WSG Training Facility- £150K (Guess)
6.Euro-ops - £50K (Guess)
7.Maintenance and service contracts- £230K ( 2018 FY£380K)
8.Ferry Sale - £150K

A -Managed Services sub-total= £5.209M

Tech Division
Asia Port Contract- £2.4M ( to be delivered Q4 and exc., Service contracts monies)
Other Tech Contracts- £330K (Guess)

B -Tech Division sub-total= £2.73M

Combined (A +B) Total= £7.939M/H2

Full Year= £5.6M H1 ( as reported)+ £7.939M H2 ( estimated)= £13.539M

Just spent some time looking at half and full year reports/accounts and tried to put some numbers to what we know and what we know to be in the pipeline.

IMHO 2019 gross sales will smash 2018's, £6.7M. I estimate that we will be circa £13M-14M.

Happy to post up my figures but would be nice if a couple of the other LTH's would like to go through the same exercise and then we can compare notes?

..today,.... so far!

Meanwhile.... past week another 9 ships serviced:

Friday 29th- Westermoor and MSC Renee
Saturday 30th- Westermoor and MSC Renee
Sunday 1st- CMA CGM Jamaica
Monday 2nd- CSCL Montevideo and Seaspan Santos
Tuesday 3rd- Kyparissia and MSC Margarita
Wednesday 4th- Kyparissia and MSC Margarita
Thursday 5th- Maersk Cape Coast and Cosco Osaka

Wk Fri 29th-Thurs 5th- 9 ships serviced

Tema,
Eskers and many others have shared research on here,.. which they could clearly keep to them selves.

Would be nice if you would do the same rather than the cloak and dagger business?

Aiming.... the T line .... the T Line..... :)

gibbo..... GOOD POINT!..... too chilled here in a spa and missed that!--- nevertheless,.... still SA and we are supposed to irons in that fire!