PYX Resources: Achieving volume and diversification milestones. Watch the video here.
Great articles LSE and Kaeren
don't see why this would be RNS as its only proposals; but with all the recruitment,trucks they are really gathering pace and it also shows what the company are working on behind the scenes.
Every day and week that passes we are gradually leaving the naysayer's behind. crack on John; crack on...
Agree bubbles It is now fish and chip paper.
but posters should not be responding in a now "old news" thread title to suit others agenda.
regarding Ukef This has been thrashed about over and over in previous posts for weeks
H+ W do not have control of the decisions or timeframes on this so if sonia rate has risen... so be it.!
Afaiaw there are approx 600 direct employees in Belfast that includes numerous Apprentices with then 600 around the other yards. A lot of the admin and management "office" based roles would be in Belfast for the whole company. You will have project managers, supervisors, H+S, banksmen, Machine operators, You then have work ongoing on barges, prep. work for FSS and a 900' long cruise ship to sort out. What's the fascination with subbies being used all of a sudden.
Https://www.nao.org.uk/wp-content/uploads/2020/07/Department-for-International-Trade-and-UK-Export-Finance-Support-for-exports.pdf
This is the only data I can get that mentions a timeframe for UKEF at 49 days average but t.b.h. this is from 2020 so the timeframe might have expanded from then or contracted who knows!
Expanding export finance products
2.39 UK export deals could fail if exporters lack the capital they need or there is a
risk of a buyer default. UKEF’s role is to ensure that no viable UK export fails for
lack of finance or insurance. In the 2018 export strategy, DIT and UKEF identified
that access to export finance can be a barrier to trade.
2.40 UKEF is expanding the finance and insurance products it offers to meet
a wider range of exporters’ needs. UKEF performed well in the 2019 British
Exporters Association’s annual benchmarking report, achieving a score of nine
out of 10 on the range of products it offers. Product developments include:
• a General Export Facility being introduced in 2020 to support exporters’
overall working capital requirements, rather than linking this support (as it
does now) to specific contracts. This is intended to help smaller businesses
and those with shorter manufacturing cycles; and
• a direct lending facility which is aimed more at large infrastructure projects.
This allows UKEF to provide loans directly to overseas buyers (including
governments). Initially UKEF had £3 billion of direct lending capacity but
in 2018 HM Treasury announced an additional £2 billion of capacity for
2020-21 and 2021-22. In the 2020 budget, the government made this
additional capacity permanent. UKEF can also lend a further £2 billion to
support projects supporting clean growth and a further £1 billion to support
overseas buyers of UK defence and security goods and services.
2.41 However, stakeholders have raised concerns that UKEF’s application
processes can be slow and smaller businesses would benefit from shorter
turnaround times and simpler requirements. To address these concerns, UKEF
has introduced greater delegated authority to five banks, who can apply for some
of UKEF’s products via an online portal and obtain immediate cover. This digital
process is quicker but when applications do not meet the eligibility criteria UKEF
reverts to a manual process, which takes on average 49 days. In 2019-20,
389 applications were made through the portal, of which 62% were eligible for
immediate cover using the online process. In February 2020 UKEF streamlined
the eligibility criteria with the aim of reducing the number of applications
requiring manual review
Regarding Sonia Rates, thanks for charts
for comparison; I have a couple of shares in Tullow and they refinanced at 10% + Sonia for 400m - shareholders didn't bat an eyelid on the rate.! To qualify for UKEF is a game changer; so just have to wait & wait .... & then wait a bit.
This small incident will actually help long term. No-one hurt; little if any damage done. It will give the companys H+S a great opportunity to Review and Revise their working methods and knuckle down on any H+S complacency in subbies/workers.-so it will improve H+S. At the end of the day you have hundreds of workers doing tasks with a wide variety of hazards. That's what H + W are all about and unfortunately human nature is exactly that - human.
think it should be just left alone now.
Nextyear
It could just be chalked down to experience; readjusting of methods and a scolding.. At the end of the day H + W are the MC and are therefore responsible for ensuring every subbie is following a safe system of work. unless of course the subbie went off track... that's different. If this happened at other yards I don't think too many would know about it t.b.h.
anyway, hoping to hear an update on Falklands very soon.
I struggle to see the Atlantic Wolff getting everything arranged in time-proper,unless they forego painting, but then all certifications have to be done as well.? They may charter in a temp Ferry as well as crew from IMS (would explain why it seems a stock photo used and not the Wolff pic) for the first 1-2 months to get things off the ground on time. At least it would give them more time to finish the Wolff proper,train,recruit, certify etc.?
but Communication to those passengers making bookings is now "Critical" and letting us know wouldn't harm either.!
Https://twitter.com/CommonsNIAC/status/1764991753357025596
Its funny that even on the defense select comm. twitter feed for the submissions they use the H+W crane
If only H+W could collect royalties for everytime its represented. lol
Kaeren No this has not been mentioned or viewed at all.
I found the RUSI Paper no 2 good reading as well where the Authors discuss Thales H + W and Spirit Aerospace as the three main companies not being utilized.
Perhaps we could see collaborations between these companies in the future.
https://www.rusi.org/explore-our-research/publications/occasional-papers/defence-industry-northern-ireland-leveraging-untapped-potential