Member Info for stokey12

Si_Derman ref 19.30 post I believe based on a response on LinkedIn to a post from that right troublemaker Michael Vidal that the three ship deal is with Seatruck. Of course there could be two three ship deals.

Avyererdowt ref 18.30 post I meant October 2021 the Belfast Harbour website does not give information that far ahead. I found these specifications for the Polar Onyx https://deepoceangroup.com/asset/polar-onyx/. I wonder what it is coming in for.

Just done my evening check on the Belfast Harbour and it shows that the Polar Onyx will arrive at the Commissioning Quay lunchtime on the 5 October and will shift to BBD lunchtime on the 9 October.

Details on the Polar Onyx can be found on this link https://www.vesselfinder.com/vessels/POLAR-ONYX-IMO-9664706-MMSI-258768000 it is not a small OSV.

ThisTimeNextYeer ref 15.25 post I will not be able to make it, it would be easier for me to go to Paris than Methil and quicker. I note that I got my email about this a couple of weeks back and there has been no RNS on it. Looks like only people on the Investors email are being offered the opportunity to attend. Going to chase them on a reply to my email about whether this would be online as well.

Just seen this tweet from H&W https://twitter.com/HarlandWolffplc/status/1455577782751277062 For the two not on twitter it says 'We are more than just shipbuilders, we provide through-life support. Watch here as the QEC enters our Belfast drydock, showing that we are QEC ready today' Clearly promoting the ability to handle large ships.

I note the reference to the type 83 which is planned for the end of the 2030s

On FSS the ships will be integrated in the UK with a substantial amount built in the UK. Also reference was made to the Multi Role ship which was due to be made towards the end of the decade. There was pushback on the FSS Competition and how much will be built in the UK. The need for social value was pressed.

The National Flagship was raised the security exception under the WTO will be used to justify a build in the UK. The cost £200 - £250 million with a £40m a year running cost. Asked if it will be in the equipment plan Minister will write in answer.

Equipment plan to be produced shortly

Looks like this will be the last evidence session as the witnesses are Jeremy Quin MP, Minister for Defence Procurement, Ministry of Defence; Vice Admiral Chris Gardner, Director General, Ships Domain, DE&S, Ministry of Defence; Admiral Tony Radakin, First Sea Lord, Ministry of Defence

oldtramp ref 14.27 post thanks for this I missed seeing it as I did not check the Order Paper today.

Nobby31 ref your 11.56 post a March 2022 FID is not likely to cause an issue with the construction timetable as some of the conditions to the License require notice to be given before work starts to various bodies. Some of these periods if I recall go up to six months. I am not sure if they can give notice that they intend construction before the FID.

This is the take on yesterday's announcement https://www.energyvoice.com/renewables-energy-transition/360699/harland-and-wolff-renewables/ which focussed on the potential contract wins. This can be contrasted with this report in the Times. https://www.thetimes.co.uk/article/harland-amp-wolff-losses-grow-qqlvbhbzs Which focussed on the increased losses. All the press reports fall in one of these two camps.

Does anyone have any idea what just caused the spike in the share price?

Tapp ref 17.40 post in your 15.50 post you said £20m. Also I note that your calculations do not seem to factor in the monthly payments under the Saipem contract which I have calculated at circa £3m a month. This calculated as Cenkos have estimated the payments for this year to amount to £15m and the payments started in August.

oldtramp ref 16.14 post I note what is said about smaller projects being done while they wait the arrival of the Entsha. I think the period ending December 2021 has been alot busier than prior to July 2021 at all sites.

Tapp ref 16.01 post IN RNS Number : 8083V Infrastrata PLC 19 April 2021 it clearly states 'Proposed change of year-end date from 31 July to 31 December; current financial year will now be a 17-month period from 1 August 2020 till 31 December 2021.'
I note that you have not answered my question On what do you base your assumption of a turnover of £20m

Tapp ref 15.50 post on what do you base your assumption of £20m turnover. If that turnover is for the year ending December 2021 it is off. If you look at my post from just before 8am this morning based on information in the public domain and brokers note the likely turnover will be significantly higher than that.

ThisTimeNextYeer ref 15.29 post like you I was surprised that the market did not look at the widening losses and mark the share price down.

I was looking at the National Infrastructure Bank and in particular where it invests. See here https://www.ukib.org.uk/where-we-invest. IslandMagee seems to meet the four investing principles. The only concern is around what it says about gas. The wording does not seem to precluding an asset that stores gas it only seems to prohibit assets that extract gas.

Hidden in the results under going concern was this statement in regards to IslandMagee 'the Company will seek to attract new investors at the project level and proceed to Final Investment Decision.' So it seems that there will be no dilution of shares in HARL to fund the IslandMagee project.

I have had a quick read of the interim results. I will beat BlairPeach to it and mention the negative point which is the widening losses recorded. Losses are up by around 50% to £16m this may be viewed negatively by the markets. Almost all of the loss will be met by the revenues from the Saipem contract so I am not that concerned about it. Net assets are up to £22,210,505. Total Liabilities amount to £34,243,051 these liabilities are covered by total assets of £56,453,555. Can someone tell me what the debt cover is. The loss for the period of £16,661,349 is covered by known revenues for the period to 31 December 2021.

The revenue for the period is £ 10,178,378 since then payments under the Saipem Contract have started and the payments due to December 2021 are £15m. In addition we have the payments for works done on the Azura, Victorine, Seatruck Progress, Stena Estrid, Relentless and the Tug Boat for Torridge District Council. As well as the income on the new contract at Amish and when it arrives the Entsha. I have not included any ships that have not yet gone through the shipyards.

In relation to the 37 tenders across Defence and Commercial that HARL is engaged in I would hope they could win about a third of them. On the whole based on these results I am likely as soon as funds permit to increase my holding in HARL