Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Scaffman ref 06.28 post The problem I have with your suggestion is that the Direct Lending Facility isfor HARL's clients not HARL as is clear by the reference to overseas buyers. The only thing that makes sense is if somehow the guarantee is to cover a contract or contracts falling within the defintion of environmental information under reg 2(1)(b) of the Environmental Information Regulations which covers '(b) factors, such as substances, energy, noise, radiation or waste, including radioactive waste, emissions, discharges and other releases into the environment, affecting or likely to affect the elements of the environment referred to in (a);' Although I cannot see how that could be the case. We will have to wait and see the response to my request for an internal review goes.
Today we have questions to the Scottish Ministers questions 2 and 14 made me laugh they both ask 'What recent discussions he has had with the Secretary of State for Defence on the level of defence spending in Scotland.' I did not realise that there was a problem with the level of defence spending in Scotland. May be they are concerned that if deence spending is increased in Northern Ireland they would get less.
I made a request under the Freedom of Information Act to ask for the reasoning behind the request for approval to give a 100% guarantee. I received this response.
'I refer to your request for information (set out below in italics) dated 3 April 2024, which has been
considered under the Environmental Information Regulations 2004 (EIR):
“I am writing to ask if you can provide a summary of the reasons why it was decided to
provide a 100% guarantee to Harland and Wolff in relation to Export Development Finance.
I appreciate that the full submission would probably include commercially sensitive
information, therefore. In so far as it does not include such information the executive
summary will suffice.”
In response to your request:
UK Export Finance (UKEF) holds no information in scope of your request. Discussions with
Harland & Wolff in relation to a potential loan facility under UKEF’s Export Development
Guarantee are currently ongoing.'
I am puzzled as to why the request was considered under the Environmental Information Regulations as they do not seem to apply. Looks like they just do not want to give anything away.
This was reposted by David Honeyman
National Shipbuilding Office
📢📢The UK Home Office are hosting a market engagement day on the 15th of May for the UK Border Force Maritime Capabilities Replacement Programme (MCRP).
This is an exciting opportunity for the UK’s #shipbuilding enterprise and the National Shipbuilding Office hope as many as possible can participate in the #marketengagement exercise.
🛥 This programme is for the replacement of the current fleet of five Cutters and six Coastal Patrol Vessels. More information can be found here: https://lnkd.in/dNHHMqEp
ℹ Suppliers who are interested in participating in the market engagement need to submit their expression of interest by e-mailing bfvesselsteam@homeoffice.gov.uk by 17:00hrs on 3rd May 2024 to receive your invite. Ensuring that the subject field states “C17501 – Expression of Interest – Maritime Capabilities Replacement Programme (MCRP)"
The Honourable Member for North Durham will eventually run out of questions or be voted out of office. This is the latest question from the delightful gentleman. https://questions-statements.parliament.uk/written-questions/detail/2024-04-23/23149 the translation of the answer is I am not telling.
This from UK Defence Journal https://ukdefencejournal.org.uk/building-of-new-fleet-solid-support-ship-to-start-next-year/ nice to get confirmation.
Bubble2021 ref 13.31 post What we do not know is what stage payments are payable under the manufacture sub contract between HARL and Navantia. It is a seven year contract for around £750m so I would not expect HARL to have to wait until the end of the contract to be paid.
Compoundinterest ref 12.53 post I did not say that the £300m+ was coming from SOWEC that figure comprised of Export Development Guarantee Funded Loan of £200m less $115m existing debt which is being paid from it. At today's exchange rate that would leave around £108m. Plus £270m investment funding this would come from SOWEC in whole or in part. How any shortfall in the investment element will be covered I am not sure. It is possible that a JV may be formed to develop either or both of Arnish or Methil.
This from the BBC https://www.bbc.co.uk/news/live/uk-scotland-68918348 I am not sure if this will affect the funding of SOWEC as the Scottish Executive is one of the partners in SOWEC.
Hebridean9 ref 11.29 post On what factual basis is this based on. As I posted a few weeks back the total of loans to be used for investment and investment from SOWEC amounts to over £300m. Of this only as far as I am aware £92m will be loans based on an exchange rate of 0.80USD to the GBP. In addition there is support in getting renewables contracts which would bring in work.
I would observe that we do not know the basis on which Ministerial approval was given for a 100% guarantee fir the UKEF funding. In my opinion there must have been evidence that it would bring in jobs and contracts exceeding the amount of the loan.
This from Cruise Industry News explains the recent departure and return https://cruiseindustrynews.com/cruise-news/2024/04/margaritaville-at-sea-islander-completes-sea-trials/ Looks like the refurbishment work to the systems were successful which should hep in getting more cruise refit work.
Bubble2021 ref 10.24 post I know about those things but there is no reason to believe that either will happen soon. In fact judging by the updates from Chrisatrdg about the judgement in IM I am not sure that we would hear anything this month.
Scaffman ref 11.57 post The Buyer Finance Solutions which are shown on the link I provided are the ones I was referencing in my post. They are separate from the Export Development Guarantee Scheme that HARL has applied for.