Member Info for MikeGP

Aiming... check out Smithers post at 13.17..... may be something more in it than just a stock photo.... --- wouldn't it be nice if it was a little clue to us LTH's from PF?

"Also in January 2019, James Sutcliffe, by agreement, left the Westminster Group Plc board to take on the role as Chairman of the International Advisory Board, where the benefit of his extensive international experience and high-level Government contacts overseas can be of significant value to the Company's business development and expansion going forward. James is already assisting the Company with several large-scale opportunities in Asia and South America."

Where is Rio? :)

gw...

"The Group generated a gross profit of £2.0m (H1 2018: £1.6m) which equates to a gross margin of 36% (H1 2018: 61%). The reduction in gross margin percent reflects the higher mix of lower margin Technology sales."

From the Half Year report,... which backs up previous post about lower margins on tech contracts.

Best

Tosh,... stop being coy,.... go for the full 100%.... if it's only 99.9% we will forgive you!!

gw,

Margin looks light to me. Gross margin has historically always been higher for the WSG Group as a whole and the managed services usually delivers the higher margin compared with the tech division.---

55% in 2018 for the group as a whole in 2018

See page 12.

https://www.wsg-corporate.com/wp-content/uploads/WG-PLC-Annual-Report-2018.pdf

Could it be the Port where did the recent, end of Oct, review?

Personally I would have thought that it might just be a generic shot,.... but who knows!

Countdown is indeed on....:

http://euro-ops-group.com/
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So the site goes live over the week-end of 15th Dec--- News on the Monday do you think?... would it warrant an RNS,... if it turns out just to be the web-site up and running without any specific 'project'news?

Hmmmmmmmmm........ now that is interesting?

Would be nice to think that the new brochures had been updated and uploaded to co-incide with the launch of some important company news!?

Ahhh... re-reading that,... it is only 220 of 300m..... the other 80 still scheduled for q1....... 220m isn't enough for them to stack 3 of the usual size ships in port at the same time,.... most are circa 320-40m long....
So unlikely that we will see 3 being serviced at the same time for a few more weeks yet.

Berth 3 ...... already!

I doubted that a few days ago,... yet it is done, months ahead of schedule. Great news for volume and capacity at T3,... will be interesting to see how this impacts upon the ships being serviced over the next few weeks.

Are we training even more staff for the ground operations I wonder. Can't wait for the Trading Statement in January,....

1 post in the last month and that was it. Interesting.

Txs for your insight.

... this is the last official comment by the company issued via RNS:

"As previously reported the Scanport Westminster partnership, is the sole appointed contractor for the x-ray screening and secondary search operations of containers passing through the new Tema Container Port (Terminal 3), a $1.5 billion US Dollar investment project by Meridian Port Services ('MPS').

The various contractual arrangements between all the different parties, MPS, Scanport, Westminster and support contractors, are agreed in principle and Westminster is pleased with the outcome. Contracts are due to be signed once certain financial arrangements between MPS and the port authorities have been put in place, which are in the process of being finalised.

Screening and search operations have been in place since Terminal 3 opened on 28 June 2019 and payments on account to Scanport and Westminster for work undertaken are being made, whilst awaiting final contracts execution.

The Company will update the market further on this important managed services contract once the contracts are signed."

... have included for the standardisation of fees at both the Takoradi Port and Tema port. Previously Tema's fees were a separate document. It makes sense to standardise,... so that the two Ports which are relatively close don't compete on price,...IMHO this negotiation process between the two ports may have been a factor in the overall delay in getting the new Tariffs out.

J,

Terminal 3 isn't shut. Ships still coming and going on daily basis. I've only seen reference to one article and it mentioned one union,.. was it about 120 members,.. and said some of them were taking strike action? I can't find the link...

You might find you are wrong MikeGP.
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I frequently am!!!

Think the reference to the Third Berth being partially opening in that article is a bit miss-leading and poor reporting.IMHO ... they meant Terminal 3 is partially open,.....ie we have two of the four berths under construction operational,..... berth 3 is meant to be operational end of Q1 2020,... with berth 4 operational Dec 2020.

Novice,..

The MSC Renee.--- Already been and gone. Was in dock Friday,.. and now left.

Gibbo,..
...it was the second time reported this week,...in the press.... but the other ship was actually in port on 20th October... 4 weeks ago. Last week saw the ships serviced equal the high.... so clearly they are continuing to improve their servicing capability...
Best,

https://www.voanews.com/middle-east/voa-news-iran/more-european-nations-join-effort-bypass-us-sanctions-iran

"Six European nations say they will join a fledgling financial system to bypass U.S. sanctions against Iran, challenging U.S. President Donald Trump days before he meets leaders of some of those nations in London.

In a joint statement Friday, Belgium, Denmark, Finland, the Netherlands, Norway and Sweden said they are in the process of become shareholders of the Instrument in Support of Trade Exchanges (INSTEX). Britain, France and Germany launched INSTEX in January to enable companies to trade with Iran without using U.S. dollars or going through U.S. banks, thereby shielding such companies from U.S. sanctions."