Member Info for stokey12

When I saw that there not a late large trade this took me by surprise. I had been expecting one due to the large difference between sells and buys. In this case the difference in value was around £30k so I would have thought that the share price would have gone down unless there was an undisclosed trade. We might see it on Monday.

Broomtree ref 16.05 post I agree neither us knows what the FY2023 figures are. That being the case eithher of us could be right about the cashflow situation. I do not see how it follows that your assumption based on money going out without any accounting for money coming in is reasonable. While my arguing that looking at contractual work coming in shows that there is no cashflow problem is not a reasonable assumption. We do not and have no right to know the contractual payment schedule so we do not know in most cases what if any prepayments have been made or when or if any milestone payments will be made.

LSE03 ref 15.21 post I am going to disagree with you Arnish will benefit from this. The port autority would not have spent the money on a link road from the depwater terminal to Arnish unless it was integral to their plans.

Both Hebridean9 and broomtree raised the issue of costs. So I have gone back to the costs for year ending 2022 as this is the most recent set of accounts. I added up costs of sales, administrative expenses and finance costs so as to capture the wage bill and interest payments to Riverfort. These costs totalled £98,771,138. I appreciate that the wage bill and other costs would have gone up so I added 30% for these costs and came to the figure of £128,402,479. As payments to subcontractors would presumably come under either costs of sales or administrative costs they would be within these figures. It would therefore seem that the income from the known work for 2024 would more than cover HARLs costs so there would be no issues with cashflow.

This was posted by HARL on LinkedIN

'This week, members of the Harland & Wolff team travelled to Glasgow for the 2024 Offshore Wind Conference.

Growing our business and building customer relationships in the Energy & Renewables sectors are amongst our key priorities in 2024. The conference provided a wonderful opportunity for our team, led by Daniel Fearnley, to meet with clients new and old and provide insight on the work that Harland & Wolff is developing and delivering across these critical maritime sectors.'

Posted on LinkedIn interestingly this is the second one this week which was a six month fixed term contract. This reinforces in my mind that here is something going on at Appledore. I do not think it is the pontoon for KBS Marine as that is supposed to be done by Spring. This is for a Precision Grinder

About the job

As a Grinder, you will be responsible for operating various grinding machines to shape and finish metal or other materials according to specifications. Your precision and attention to detail will contribute to the production of high-quality components for our diverse range of products.

Set up and operate grinding machines such as surface grinders, cylindrical grinders, and centreless grinders.

Ensure machines are calibrated and adjusted to produce quality finished products.

Monitor machine parameters and adjust as necessary.

Review work orders and blueprints to understand material requirements and specifications.

Select appropriate grinding tools and abrasives based on material type and finish requirements.

Inspect finished products for adherence to specifications, ensuring dimensions, surface finish, and overall quality meet the required standards.

About you

Proven experience as a Grinder or similar role in a manufacturing environment.

Knowledge of various grinding techniques and equipment.

Ability to interpret blueprints and work orders.

Strong attention to detail and precision.

Package

6 months Fixed term contract

Company pension

31 days holiday

Just seen on LinkedIn. I think this was mentioned previously.

⚓FIRST STEEL CUT ANNOUNCEMENT ⚓

Work is now underway at our Appledore yard on the construction of a specialist cable barge for defence contractor KBS Maritime Ltd. First steel has been cut and once complete this Spring, the barge will enter service in His Majesty’s Naval Base (HMNB) Portsmouth and support naval vessels such as Mine Hunters, Type 23’s and Type 45’s.

James Davis, Managing Director at KBS Maritime said, “The acquisition of the new cable barge is a key investment supporting our Asset Management strategy across Portsmouth Naval Base. By working with Harland & Wolff to design a forward-thinking and purpose-built barge, specific to the needs of this busy Naval Base, it will enable our Alongside Services teams to continue to deliver vital services to the Royal Navy in an efficient and safe way.”

Read the full press release here:

https://lnkd.in/d7MMrVAH

LSE03 ref 07.20 post there is this on the Navy Lookout twitter feed https://twitter.com/NavyLookout/status/1750792858016063826

The latest update on this can be found here https://www.stornowayportauthority.com/media/momfakhs/stornoway-pa-newsletter-december.pdf . It would seem that the link road from the Terminal to H&W Arnish is complete or near complete. When the January nesletter comes out we will see if the project has finished on time.

Dawski37 ref 10.25 post I did not mention Methil as I was under the impression that it only did overspill from the other sites so I would have covered any work with the other sites.

LSE03 ref 13.38 post Thanks that works.

LSE03 ref 10.07 post I am getting a 404 not found message on this link

Si_Derman ref 08.24 post You are right I forgot about that.

Ref my 05.57 post It should also be noted that this list does not include any contribution from Harland and Wolff Technology Limited or Harland and Wolff Marine Services due to insufficient information being available.

Consuela ref 07.44 Yes it tells me that those saying that it is on the verge of going bust or there are cashflow problems are in fact wrong. Do you have any factual information to dispute anything in my post or are you just sour because it looks like HARL may be turning the corner.

In the absence of anything from HARL I am going to list all the contracts that I am aware of starting with known contracts. To assist debate I will state the source of my information about contracts.

Belfast

SeaRose FPSO Life Extension Project Contract - £60m+ contract. The RNS for this contract stated that the base contract value was £60m. So I would not expect any further RNS in relation to this contract.

MAS Islander There is very little information on the actual work that is being done on this ship from social media we know that it is in for a refurbishment having been bought by its new owners. From HARL’s social media it would seem that HARL will be providing project support. No indication as to value of contract.

Songa Crystal

This oil tanker was in for emergency repairs no indication of contract value. Information on reason for visit taken from media reports and social media post from HARL.

Thun Gratitude

This oil tanker is due for a second visit 26/01 – 30/01 according to the Belfast Harbour website. It is not clear if it is just discharging cargo or coming in for repairs. Initially this visit was showing as a single day visit but it is now showing as longer.

Cory Barges

Ongoing contract to build barges no information on stage payments.

Appledore

M55 Contract this is the renovation of the Ex HMS Quorn for the Lithuanian Navy. The contract value is £55m. As the contract is ongoing not sure what payments are due this year.

There was a job vacancy for a six month contract for a project controls engineer. As the name implies they would work on a particular project. I am therefore not sure if there is another undisclosed six month contract.

Arnish

There is no information as to what if any new contracts are being worked on at Arnish.

From this list it does not look like there are any cashflow problems as the combination of the SeaRose and MAS Islander contract with the ongoing work on Cory Barges and M55 would bring in over £100m in income. I would observe that after taking out Cory and M55 the rest of the contracts above would end in Q3 so there is still work for Q4 to account for.

Just seen this article on LinkedIn unffortunately it is too long to do a copy and paste. https://www.linkedin.com/news/story/shipping-woes-to-sink-profits-5873732/. The problem is that ships are being diverted round the Cape of Good Hope to avoid attacks from the Houthis. This means that are coming from the far east will be taking longer to arrive. This would potentially affect steel coming from the far east. Also ships built in the far east run the risk of attack if they go through the Red Sea. I am not sure about the viability of going around the cape of Good Hope.

The other issue is that the increase costs will probably have to be passed on raise the possibility of inflation going up later in the year postponing any interest cuts.

LSE03 ref 18.19 post I like how instead of the simple thing of bringing this guidance in from October. It comes into force today at the same time as the consultation on the guidance.

Just seen this on Linked In

Lee-Anne SmithLee-Anne Smith • 3rd+ • 3rd+ Senior Project Controls ManagerSenior Project Controls Manager

1h •

1h •

Check out this job at Harland & Wolff: Project Controls Engineer (6 month contract)

Harland & Wolff

Project Controls Engineer (6 month contract)

Job by Harland & Wolff

Belfast, Northern Ireland, United Kingdom (On-site)

Job Details

About the job

Job Summary

The main requirements for this position are as follows: -

Development, deployment, collation, execution and production of daily, weekly and monthly reports and underpinning processes under the management and direction of the Project controls manager or a designated supervisor to meet the requirements of the client and internal and external stakeholders.

Supports the continuous improvement of project management/controls across the project.

Partakes in the continuous development of project controls systems.

Ensuring that All reporting is produced, reviewed and issued in line with defined calendars to the quality levels and standards required.

Promotes a positive HS&E culture within the business and engages in the HS&E process.

Ensure that company policy, rules and regulations are adhered to in the performance of their duties.

Key Activities

The essential duties for this position are as follows:-

Develop, Produce and Execute “SMART” project reporting for relevant stakeholders to defined targets against agreed formats.

Provide input to monthly integrated project reviews where required.

Carry out any other duties as reasonably requested in line with their skills and experience.

Essential Knowledge, Skills & Experience

The following are required for this role:-

Strong experience within a Project Controls position with responsibility for site based reporting in a high regulatory environment (ideally within the Oil & Gas construction sector)

Proficient in MS office software package (Word, Excel, etc)

Power Bi experience would be preferable.

Demonstrated ability to work to tight deadlines.

Resilient approach to delivering tasks and achievement of outcomes.

Good problem solving and decision-making skills.

Effective communication skills both written and verbal.

Good time and self-management Skills.

Consuela ref 16.09 post No what I am saying is that the General Manager is permitted to obtain contracts to do work. This would seem to be clear as the General Manager at Arnish. Assuming that I am wrong and permission to obtain external contracts was needed I can see no reason why such permission would not be given as it had been for Arnish and in addition income from such work would feed into the Group income.