Member Info for stokey12

I had three announcements pencilled in for this quarter/month. The National Shipbuilding Strategy, The new National Flagship and the Dry Docking contract for the Queen Elizabeth Class of Aircraft Carriers. It now looks like all three announcements will be in quarter 1 2022 at the earliest. This inability of the government to make decisions does not bode well for the implementation of the National Shipbuilding Strategy. It is alright having a pipeline but you need to actually move the pipeline along. I am losing confidence in the government being able to implement the shipbuilding strategy whenever it comes.

I have just seen this article https://www.lexology.com/library/detail.aspx?g=4c5d5171-dee6-4b6d-964b-0b0abd0a407f&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2021-12-29&utm_term= Of particular note is what is said about exemptions for some defence contracts. Hopefully this would shorten the time defence procurements take. Other changes might also help HARL.

This is from the BBC Northern Ireland page of the BBC website https://www.bbc.com/news/uk-northern-ireland-59808598 includes nice photo of Samson and Goliath. The article confirms that it is a fire at the scrap metal recycling centre and it is nota small fire.

Q4 ends on Friday I wonder if we will get an update this week. Thought everyone.

oldtramp ref 11.14 post I note from the vessel tab on vesselfinder that prior to Arnish the Anita Hagedorn spent about 36 hours at Frederiksvark, Denmark. The previous stops were in Demmark.

I note that Leave has been granted by the Supreme Court in this case https://www.serlecourt.co.uk/news/article/serleshare-judgment-in-shanghai-shipyard-co-ltd-v-reignwood-international-investment-group-company-limited-2021-ewca-civ-1147. It relates to guarantees for shipbuilding work.

Merry Christmas

Running1 ref 13.04 post very interesting I note that the 10th February event is the only event that is completely on FSS. As social value is a key part of tender evaluation the spread of where they are having the roadshows indicates that all parts of the UK will be involved. Also the timing is interesting as these roadshows will be before the final tender bids will need to have to be put in for the FSS programme.

Jabido ref 09.35 post Q1 2022 we might get the carrier maintenance contract news. The deadline for applying for a Judicial Review over the grant of the ML is in Q1. With regards to the FSS if I recall correctly that decision is more likely Q2/Q3. I would agree with everything else you say.

Lottie123 ref 12.39 post as can be seen from this article https://www.offshorewind.biz/2021/12/17/mingyang-enters-uk-offshore-wind-market-with-major-investment-plans-and-mou-with-government/ there seem to be the possibility of supply chain work.

Chrisatrdg ref 10.48 post the Seatruck Performance has been in Belfast for the last eight days according to the Belfast Harbour website and is due to leave at 2pm today.

Just seen this article it does a reasonable summary of this week's report from the Defence Select Committee. https://www.northwaleschronicle.co.uk/news/national/19782153.navy-needs-build-warships-counter-future-threats-say-mps/

oldtramp ref 07.45 post not ****** comment but if H&W do get this they need to be careful to ensure that they are guaranteed to getting paid as that area of the world does not have a good reputation when it comes to paying bills.

SI_Derman ref 13.24 post thanks for that.

I see that Killick or more likely their clients are not bailing on HARL which is a good sign. They must be on very significant losses.

Just listened to this one thing that I noted and is at 15 mins in. John Wood says no bonus this year I know some would not believe this but he would be extremely stupid to say that when this would be easily disproved when the accounts come out in June. I was intrigued by what I saw in the background. There was a picture of a ship and the figure £350m I wonder what that related to. One important dodge I noted was when asked that Defence was a hard area to get into JW answered in a roundabout way without taking the question on head on. Instead he referenced the National Shipbuilding Strategy which he said is due this year.

Noted will listen later in the day.

spudtheplumber ref 12.17 post By all means knock away but I think you are not being entirely fair to JW I remember reading a post I cannot recall if it was twitter or LinkedIn but it would seem that JW is originally from Fife. If that is correct the purchase of Methil may in part be trying to put back to the community he was bought up in. It would follow that he would work hard to keep the facility working. As far as Arnish is concerned that is likely due to local developments to become a good investment.

Lottie123 ref your 10.36 post and in relation to what you say about detractors I note that the only plan B that the detractors offer would actually make HARL's position worse. If you sell off all the shipyards you would have no money coming in so there will be even more fundraises causing the share price to go even lower. Bearing in mind the location of the four shipyard sites if you overlay a map of existing and proposed wind farm leases from both the Crown Estate and Crown Estate Scotland you will find all four sites are close to a number of sites. This would mean if the four shipyards are sold after all the investment that has been put into them you will be potentially gifting the new owners £bn in revenues. That does not sound like a sound proposition. I would expect the fabricating side of the business to pick up during the course of next year as the leases are awarded and planning permissions granted for the wind farms.

BlairPeach I am going for a combined salary of £1.5m

nightflight ref 16.22 post If you were to get the 5% of shares needed to requisition a general meeting I would oppose any motion that involves the disposal of the shipyards. I agree that there have been some missteps by the current management. However, disposal of the shipyards is not the answer. All four sites have significant fabrication facilities and are in close proximity to lease areas for fixed and floating offshore wind farms. All the leases will have local content requirements so the fabrication facilities at these sites will be needed to fabricate a proportion of the equipment needed for the wind farms. The contracts for the fabricating the jackets for the turbines are going to be in £19m+ So contrary to what BlairPeach says in his 16.37 post the sites have value in relation to their use in fabricating parts for wind turbines. As I have said before their is nothing wrong with the strategy set by the current management the issue has perhaps been with the execution. My view based on all the information I have read is that nothing should be done for the next six months as then the Annual Report and Accounts will be out. This will allow fully informed decisions to be made. I am not happy that I am sitting on a four figure loss on this share others have even higher losses. However, I am of the strong view based on everything I know and not just what the BoD says that it would be a mistake to bailout of HARL at this point.