Member Info for MikeGP

dhc,

Agreed. The scaling up on site will be interesting to watch, hence I check and recored the daily ship movements. We are still presently servicing one ship per day,... and these are medium size,.. which suggest 3-4,000 TEU's. We consistently have two of these 270m long x 40m wide ships in port,... although on one day this week there was a third smaller ship in port at the same time.

I think we could already be scanning circa 1M TEU's year... 352 days x 3000 TEU/day.

I would like to get some clarity on current agreement in respect of sales revenue for the containers we are scanning. I can understand if we were operating gratis for a week or so whilst the system bedded in and we were in effect 'on trial"; however,.. we have now scanned circa 30 ships and if we haven't agreed some sort of remuneration for that I would be pretty disappointed. I have e-mailed PF and MH and neither have been forthcoming,.. saying that can't comment on 'commercial terms ' etc., etc.,
If MPS aren't able to agree final rates, due to their on-going negotiations with the Port authorities,.... then we need to enter in to an interim agreement.
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Hope we will get an update on the quantity of TEU's scanned.

From 18th July until this Thursday and I estimate that they will have 'serviced/scanned' the cargo from circa 25 ships.... @ 3-4,000 TEU's ( guesstimate.. given the size and potential cargo of the vessels,...).... it would suggest that we have scanned 75,000-100,000 20ft containers being off-loaded.

That figure include a number of assumptions,..
1 That when a ship comes in to port all of the containers are offloaded? Or will a ship be loaded for deliveries at several ports and so they are not fully offloaded? I don't know that works..any thoughts?
2 That we only scan containers being offloaded. If a 3,000 capacity ship is off loaded and then loaded,... we would be getting fees for both,. ie 6,000 scans?)....possible?,... again,..I don't know how that works,... any thoughts?

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Tardi,.. at the last AGM the new CFO said he would like to improve on the reporting for the Interms an end of year financials etc.,.... I think that is what we are seeing here.... as you say,.. it is a month early then in previously years.

Best

TPK....

My plan too. Sold a lot of SXX at 15 before the fall... to top up here.

Qualia,...agreed. I think we all feel like that!

What breaks the tedium of the wait for me,...is checking on the Port movements and trying assess what this is really worth to us. I think we are getting in to deep with them to let us walk away,... it's a lose/lose situation if that happens,....... so whilst the wait is frustrating ... I believe it will happen.

The tock has been ticking for some time,.. and even with an expansion in the scope of works it doesn't feel like they can continue for much longer before either MPS or WSG bring this to a head. I very much doubt that MPS are un-loading all of these ships and containers for nothing..... so why should we?

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Foxxy.... :)

Pour a glass of Red!!

Steve,... the CFO told me that they were in a 'close period' at the AGM,... and ever since they have been in a period of negotiating for the TEMA. and possibly other, contracts,... so I don't see that they would have had an opportunity to lift that during the past 4 or 5 weeks and they have all been privy to price sensitive information. etc.,etc.,

Hi h&n.
Yes,..agreed he scope of the works has increased,...but not sure that the wording of that RNS confirms that we ( as in WSG)... are employing the guys on the ground. We are certainly doing the induction and training. IMHO the majority of the staff are employed directly by Scanport... trained by us.---- either way,... it is the increase in the scope of the works that is the important factor.

I reckon we are already scanning circa equivalent of 1M teu's/annum,.... at one 3000/ Teu ship day....... using the two berths. By the end of next year there should be 4 berths..... so whatever they agree in terms one the next few weeks is likely to double within a relatively short time span..... and if they can ramp up volume to the 3M+ TEU's that they hope,... then this could generate a staggering amount of cash at £30M per year based upon the current Port Tariff at TEMA. ...

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MTP.....
Morning,... my recollection of a conversation I had with PF was that we were doing the training etc., ..but the local staff, actually on the ground, were being employed by Scanport ie our partners in the arrangement.---- I believe he made a comment to the effect of "we're not in the business of employing hundreds of people on the ground etc.,"

I could be wrong,.. or he might be referring to a limited number of specialist WSG'ers on the ground ie the Trainers and Maintenance crew.... or I might be wrong!!!!
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Moz,
Yes,.. that seems to be the general consensus of option here,....
Meanwhile..... we wait.
PS... one of the ER France is an enormous ship..( in dock at present).. 270M long 40M wide.

Friday 2nd - Maersk Indus and MSC Kim
Saturday 3rd- Season Dalian and CMA CGM Lapis
Sunday 4th- Season Dalian and CMA CGM Lapis
Monday 5th- Maersk Congo and Zim Rio Grande
Tuesday 6th- Maersk Congo and Zim Rio Grande
Wednesday 7th- ER France and Season Lahore
Thursday 8th- ER France and Season Lahore

Friday 9th- ER France and Kota Lamba

They should be pretty good with record numbers at Lunghi and the deferred balancing payment from last years big tech contract falling in to this quarters sales figures.

Aiming,..... as far as I understand it the company has not said that they are doing anything for free... they did say that the revenues would not commence until the final details of the contract had been agreed...( that was in the RNS of 18th June). we could be chalking all of this work up on account. I agree it is a bit vague... and I e-mailed PF and MH for clarification and I got the standard "we cannot comment on the commercial terms on the contract" etc., etc., stock answer...

There has since been a further RNS,... describing the extension to the LoI and changed to the scope of works to include the secondary screening process,...hence, perhaps the delay to the signing of the contract,.given the scope of the works on the ground is bedding in during this soft start up period that PF mentioned. We now appear to be screening at least one ship per day,... which even at the lower/small end of the container ship volume would equate to circa 3,000-4,000 TEU's per day, even if the ships are only circa 60-75% fully laden. They appear to stack a number of ships just outside of the harbour, so there is very little downtime between one leaving and another arriving.
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.. are enormous.

The Maersk Congo is 250m long. = about 2.5 x football pitch

..one ship a day.

Friday 2nd - Maersk Indus and MSC Kim
Saturday 3rd- Season Dalian and CMA CGM Lapis
Sunday 4th- Season Dalian and CMA CGM Lapis
Monday 5th- Maersk Congo and CMA CGM Lapis
Tuesday 6th-
Wednesday 7th
Thursday 8th

andy,

If they went to SVS then the administrators could exercise the warrants for the benefit of the creditors if the share price was above 12.5p.
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I guess that would also depend on whether they could raise the £1.25M they would need to exercise the warrants? If they are in administration I guess there won't be much floating around and even though they would just be 'turning' them,... they might struggle to find someone to underwrite that?
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What a great drive by Hamilton.... and the Aussies still going strong.

Sooo....

Having posed the question and read the responses I'm no further forward with the SVS/warrant situation.

Do we believe that have received the monies, since the admission date was 1st? If this is the case then shares should have been taken up by the placees,....

So the question is,... are the warrants directly "linked' to those shares, and therefore will have been transferred to the same placees? ...or, are the Warrants,... specifically granted to SVS,...in which case they may well die with the company if they aren't ever able to exercise them?

If the warrants were transferred to the Placee .. they would no longer be under the control/ownership of SVS, and they could be exercised by the placee at any time subject to the 12.5p/two year strike conditions?

I would have thought that WSG would have to clarify the current situation by RNS as it does have implications for TVR's etc.,

If the reports regarding SVS are true... are we thinking that the 10m warrants are now dead in the water,.. or can they be transferred in someway?
Best

PS. Hope anyone here who is caught up in it comes out ok.

cheers Andy.

h&n,
Taken a look at the web site.... the accounts available on line only go back to 2014 as far as I can see..... can you provide a little detail?
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