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Too many people heaping too much significance on this decision. The shipbuilding alone is worth double the current share price.
I do recall JW saying in the proactive interview that if the decision didn’t go our way, his expectation was that there would be 2 or 3 areas to re-address.
Think the most interesting thing we’re waiting for is the size of the grants from the government from UKEF and renewables grants for ports. These aligned with the debt restructuring are the gamechangers for profitability and share price.
This is the document he refers to
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1061201/_CP_605____National_Shipbuilding_Strategy_Refresh.pdf
Agree, the thing that is so often missed is the knowledge transfer from Navantia, and the automation of Belfast using Navantia know how. Navantia very rarely miss delivery deadlines, which keeps costs low and reputation high
The Sunday Times has a very biased article today about the wonderful BAE and the anti British , state owned Navantia winning the FSS contracts “most of the work is expected to take place in Spain” “ not a level playing field said one U.K. shipbuilding executive “.
It does mention that the new Defence Command paper will be issued in the coming weeks which will give more certainty about the size of future shipbuilding projects
Here is a link, sorry it’s behind a firewall, but if you can, comment and also message the journalist Jim Armitage
Royal Navy’s submarine hunters breathe fresh life into Britain’s shipyards
https://www.thetimes.co.uk/article/9669bc82-1c14-11ee-a1d2-5f915afc01a5?shareToken=f46ad888a61e3127fd1e9165b2b00dde
Just found this, pages 27,28,29,30. The ports the government needs to invest in. Government needs to spend £4 billion. First £160m announced today, and Methil has a ring round it, Appledore in Celtic sea area and Belfast gets mentioned a lot
https://cdn.ymaws.com/www.renewableuk.com/resource/resmgr/docs/flow_tf_-_inegrated_report_f.pdf
Did Shishir not say at the beginning of the interview “half way between 2 RNS’s”. As we’re a month from the last, that presumably means a month to the next. I’m definitely topping up based on the current production forecasts, let alone the completion of the deal
To paraphrase, John Wood says he was involved in writing the U.K. ship building strategy which is 150 ships in next 30 years
He saw the potential and bought Belfast first then Appledore and Mithil.
He knew they needed full automation so that’s why he partnered with Navantia as they will do the knowledge transfer.
In addition the renewables market will be 500 billion in next decade
In addition Island McGee is now worth double what it was when they first proposed it. He said the protesters actually did them a big favour as everybody now knows how vital it is
I’d say it’s undervalued. Now back to just reading!!
This is a great listen for those who haven’t heard it
https://www.**********.co.uk/articles/harland-wolff-1-6-billion-contract-is-a-truly-defining-moment-for-the-company-954a97e/