Member Info for stokey12

Si_Derman ref 07.21 post if my count is correct HW Marine Services now has four boats. Puffin, Naomi Jennifer, Terramare and Valonia. Scilly Ferries has two I believe Atlantic Wolff I cannot recall the name of the other one unless I am imaging it.

Interesting article about what to do when/if AI is used when tendering for public contracts. https://www.lexology.com/library/detail.aspx?g=ec227644-ab25-427f-a938-8785757218dc&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2024-06-05&utm_term=

I note that additonal questions will be asked if AI is used.

Findingtheta ref 06.49 post thanks for that the correct link should be https://www.linkedin.com/feed/update/urn:li:activity:7203401559349604354/

Seen this on LinkedIn JW is doing a lot of profile raising.

Sharon Jones Business Manager - Maritime Enterprise

1 day ago

A busy week starts at Belfast Harbour with the Maritime UK and Northern Ireland Maritime & Offshore Coastal Powerhouse programme.

Some key themes coming through panellists and keynotes;

🤝 collaboration

⚓️ scale and more than one solution

⛓️ supply chain

🧑‍💻 using data and knowledge sharing

The decarbonisation panel, expertly chaired by John Wood brought together James Gladman CEng MRINA, Jesper P. Christensen and Prof. David Rooney to explore the collective opportunities and ways forward in clean maritime.

2050 is just one ship design away - we need to be revolutionary by design, yet future fuels = complexity.

💡 The scale of need influences fuel choices, infrastructure and safety for operators.

💡 Commercially some fuels will work better on particular routes and use cases.

The morning programme then continued with Gina Panayiotou LLB, LLM, CBA, MBA outlining the work of WISTA International and particularly WISTA UK.

Matt F. of Ancoris provided a compelling case for becoming an AI native enterprise.

Opportunities include;

🤖 Miniaturisation of Gen AI which will support in decarbonising the supply chain

🤖 Problem-solving skills - leveraging an emergent technology with sector specific critical thinking.

🤖 Human -AI collaboration

The final session before lunch was brilliantly presented by Iain Percy who outlined the amazing achievements of Artemis Technologies Ltd and was candid about the challenges in developing green tech in maritime;

🍀 First mover ‘disadvantage’

🍀 Setting the standards (regulation)

🍀 Pushing the boundaries

A lively and informative programme which has deftly illustrated the incredible maritime sector, both in Belfast and across the U.K.

The link to the post is https://www.linkedin.com/feed/?midToken=AQGRryqTPzsywA&midSig=3ZCFXCxFcQPbg1&trk=eml-b2_professional_identity_digest_02-header-0-home_glimmer&trkEmail=eml-b2_professional_identity_digest_02-header-0-home_glimmer-null-20grzd~lx19tzme~u0-null-null&eid=20grzd-lx19tzme-u0&otpToken=MTMwNzFmZTcxMzJiYzhjNWI3MjQwNGVkNDcxOWUyYjE4N2NkZDI0NDliYWY4ODYxNzRjNjA2Njg0YTU4NWVmMmZlZGZiMTgzNDdlNGQ5ZTc3M2E1YTdkNzhhM2NmMGM1MTVhMTI5NjVmOGJhYWEwMWY1OWYsMSwx

I note that nobody has pointed out that the thread title is actually wrong. 30p would not be the previous high. If I recall correctly the previous high was around 47p.

I have just did a google check and the current SOFR rate which the current Riverstone loan is pegged to has gone up slightly to 5.34% from 5.33%. The current SONIA rate which I understand the new debt package is pegged to has remained at 5.20%. If my very ropey maths is correct the difference adds about an additional £11,500 to the interest bill. Also the difference in the interest rate on the Riverstone loan is costing an extra circa £9.4m in nterest. So the sooner we get the UKEF backed loan agreed the better. Can somebody who did not get a F- in maths check my calculations.

Caravan ref 06.38 post they are probably acting as a broker not a principal so it would be clients instructions. So the question should be why are their clients selling.

This came back on my timeline https://www.linkedin.com/feed/?highlightedUpdateType=PAGES_TRENDING_CONTENT_BY_COMPANY_YOU_FOLLOW&highlightedUpdateUrn=urn%3Ali%3Aactivity%3A7201164081767006208 The text of the post says

Ben MurrayBen Murray • Following • Following Chief of Staff and Corporate Affairs at Harland & WolffChief of Staff and Corporate Affairs at Harland & Wolff 5d • Edited •

5 days ago

With the general election called for 4th July, companies up and down the country have a unique opportunity to engage with those hoping to be elected to represent our communities in the future.

At Harland & Wolff, we believe in the power of collaboration and dialogue. We're keen to engage with all candidates across each of our communities during this campaign to discuss how we can work together to address the challenges and seize the opportunities that lie ahead for our communities and country.

From defence to energy security and decarbonisation to regional growth, H&W can help unlock the future, and we look forward to working with all stakeholders to deliver further well-paid, high-quality, sustainable jobs.

As ever, if stakeholders would like to meet and discuss how we can work together, feel free to contact: corporate.affairs@harland-wolff.com.

The fiirst comment is interesting as it is the first time that someone has commented in a post that would want to collaborate with HARL. The graphic is also interesting. It shows that in two years HARL has had 134 apprentices start. It does not state how many applications they had. But for 2024 if you add up the applications shown on the graphic they have had 241 applications. Not sure how many have been accepted but it is interesting that the number of applications exceed the figure for the last two years combined.

Having read all the comments on this thread since I started it I am comfortable with my current guesstimate of circa £171m revenue for 2024 subject to two matters below. On the Islander I think my figure of £10m is a reasonable guess when you google the Islander and look at all the refurbishment work that was done on it. In addition if I recall correctly it did go out on two different weekends for sea trials. This seems to be confirmed by thishttps://en.wikipedia.org/wiki/Margaritaville_at_Sea_Islander As far as I am aware you do not need sea trials for a paint job.

With the Odyssey again I am going to stick with my estimate as we have only seen videos of the first two weeks in drydock so we do not know what else was done.

there are two things that would cause my figure to be wrong oher than the things I did not include for various reasons. Firstly, JW has said previously that he is expecting more cruise ships in this year so if we get anymore in and time is running out to get them in to count in this years accounts this would increase the revenues figures. Secondly. with the M55 project due to complete this year that means that the ex HMS Atherstone can be converted to whatever it will become. We were never told as far as I am aware how much HARL paid for it, if anything. The M55 project was £55m so the conversion of the ex HMS Atherstone might bring in the same. I am not sure how much of that would count for this year.

Broomtree ref 18.49 post We will have an indication if I am right in September when the interim results come out. As we do not know what the scope of work was for the Islander and is for the Odyssey are you not also speculating on the likely amount that HARL is making from these two refits?

Last time I tried to do this the complaint was made that I did not take expenses into account but as the thread titlesays I am only lookng at income and have not considered expenses. Current guidance is for £200m in revenue this year. Nobby31 has said that the scope of the SeaRose has increased so revenues from that may go up by half. I would expect that this would result in an RNS to cofirm this. That said as the departure date fro the SeaRose has been put back by about six weeks I am going to go with what Nobby31 has said. That gives us income from the contract of circa £90m. The Falklands contract assuming it has been signed although this has not been confirmed together with the contract at Arnish under the Master Services agreement should bring in around another £61m. I have apportioned the value of both of these as 50% being paid this year with the balance next year. If I recall correctly it has been reported that the MAS Islander refit cost around £10m but this is unconfirmed. I do not have a figure for the Odyssey but it may be about the same. So as best as can be said from the few RNSs issued this year and guesstimates on the work at Belfast and Arnish we have circa £171m in income. This does not include any income from Appledore, Methil or other work at Arnish. It also does not include anything from the barges work for Cory or any preparatory work for FSS.

If the guess work above is accurate then there is a slight possibility that HARL might exceed current guidance.

Nobby31 ref 10.28 post thanks for that hopefully we will get a trading update someday soon to put some meat on the bones of the the RNS following the last set of doom and gloom rumours.

Nobby31 ref 19.21 post Thanks for the info. Are you hearing anything about anymore cruise ships coming in for refits? JW has said about more being expected this year. However, when I checked on the Belfast Harbour website I could not see anything expected during the next 90 days.

Si_Derman ref 09.00 post did a quick check on Google to see if anything was mentioned and came across this https://www.projectcargojournal.com/project-logistics/2024/04/22/pentagon-handles-searose-fpso-refit-logistics/?gdpr=deny I note that it says that the SeaRose is expected back at the end of the year. Makes me wonder whether the July date was being used as a target date in order to earn a bonus payment. Hopefully it is not a late completion as if it is then the possible consequences would not be good.

I have just noticed that the SeaRose departure date for the SeaRose has changed to 14 August 2024 at 11am.

My only complaint is that it is not clear what HARL is doing I could not see anyone in a HARL flourescent jacket. It would be nice to see what work HARL is doing. At the moment it looks like HARL is only providing the facilities.

Findingtheta ref 10.19 post You mean like the position BAB found itself in recently when they faced a £100m shortfall on a MoD contract which they blamed on an onerous clause in the contract. I am not sure exactly ho the issue was resolved but a clarification was apparently reached.

Consuela ref 08.59 post What makes you think that a consortium bidding on a £1.6bn tender for which they were given support in the sum of £5m. Also where they were the beneficiary of a sustained political campaign to be awarded the contract would deliberately put in a non compliant bid. Taking all the circumstances into consideration including all the lobbying for Team UK to be just given the contract it is more likely that it was not a deliberate tender of a non compliant bid.

Consuela ref 07.41 post The similarity arises from the fact that in both cases non compliant bids were submitted and in both cases the bids were disqualified. Interestingly also in both cases there was only one compliant bid left and they were awarded the contract. So in fact rather unusually the two cases are largely the same except in the FSS case you had a select committee asking questions on why the non compliant bid was disqualified. The only thing we do not know with the disqualified bid by Team UK is why it was non compliant.

Quick trip down memory lane. As some of you will recall Team UK were for reasons that were never disclosed adjudged to have submitted a non compliant bid for the FSS Contract. This article discusses a recent case which coverred a similar situation. What the case decided seems to indicate that a non compliant tender bid can lead to disqualification of a bid. Please note that this is a first instance decision so is not binding on other courts but it is binding on tribunals and government departments. https://www.lexology.com/library/detail.aspx?g=f5f7ece2-6c02-4c54-83ca-38dfb25f1aa8&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2024-05-31&utm_term=