Member Info for stokey12

Wyndrum ref 11.24 post I am not sure that is correct as surely as part of the assets you would include the forward order book. The known forward order book less debt comes out at about plus £400m which is around 20 times the MCap.

ForrestGump ref 07.11 post I think the problem to date was that with a duopoly if you exclude one for poor performance you end up with a Monopoly.

MaryBr190 ref 07.05 post Morning to you as well have a great day as well.

First day back after the Christmas break for MPs on Monday sees Defence Questions. All the questions that have been tabled can be found here https://commonsbusiness.parliament.uk/Document/83925/Html?subType=Standard In view of the recent posts about the ability of the Republic of Ireland to defend itself this question is interesting. '19Jamie Stone (Caithness, Sutherland and Easter Ross): What steps he is taking to help maintain security in the North Sea.'

The first question is 'Virginia Crosbie (Ynys Môn): What steps his Department is taking to support defence jobs. (900852)'. The rest of the questions appears to be around aid to Israel, Ukraine and Gaza. Amongst the other questions is this one. 'Mrs Pauline Latham (Mid Derbyshire): What recent progress his Department has made on the AUKUS partnership.'

MaryBr190 ref 06.55 post Last night there appears to have been a number of posts I think five were actually about HARL. On your first option complaining about a single post is not effective as I have seen from the past all that will happen is the offending post will be removed and not much else will be done. I am inclined to the view that what would be best is if everyone who is concerned about a poster was to email LSE and ask for a review of all a particular posters post for a breach of rule 4 this might be more effective.

This article on the Procurement Act 2023 which is due to come into force in October 2024 covers exclusion from taking part in future procurements. It covers two discretionary grounds but not any of the mandatory grounds. https://www.lexology.com/library/detail.aspx?g=222d8937-b17b-49f5-9f9f-e379a70c1e33&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2024-01-05&utm_term=

'Contractual performance

This is not an entirely new ground but it is more prescriptive and detailed. This includes:

not performing to the authority’s satisfaction, being given the opportunity to improve performance and failing to do so;

sufficiently serious breaches of contract (i.e. leading to termination, damages or a settlement);

a court judgment confirming a sufficiently serious breach; or

a notice being published relating to breach/poor performance.'

One interesting question that arises out of this is If BAB or BAe were to fail to deliver a contract on time and to repeat to do it in circumstances where the reason for the delay was not due to any failure by the MoD the government would exclude them from future procurements. To date this has not been done but with a tightening of the rules will there be a change. Time will tell.

In relation to the improper behaviour ground during the FSS procurement the unions were very vocal in their demands. One of the conditions of the tender precluded lobbying of the MoD. It has never been stated why Team UK was deemed to be Non Compliant in their bid. However if it related in part to the lobbying by the unions then in the future could a repeat lead to an exclusion? If that was to happen then we could see an interesting sitation where one of the main defence contractors is unable to bid for more defence contracts.

Broomtree ref 17.33 post I think you will find that as with Austal that it was the case that HARL had something that Navantia needed and Navantia had something HARL needed.

Kaeren ref 16.06 post a useful appointment hopefully we can see some more cruise ships coming in for refits on the back of this.

Apothecary ref 09.59 post The £200m loan facility is not as far as I am aware linked to IslandMagee so what happens with the appeal does not affect the debt facility. It is true that IM is one of the assets that would be part of the security of the loan but that would be true regardless of the deision on the appeal. As I said earlier in the week the £200m facility is to be used for general Capex to hekp HARL with export orders and not for any specific project.

Consuela ref 08.57 post it will take approximately 7 years as I understand it to build out all the seven caverns. It will take less than that to obtain a fresh planning permission for the storage of hydrogen especially if they use a private Act of Parliament. The technology for storing hydrogen in salt caverns is I believe the same as for gas storage so there would be no need for any changes. The pricing modelling would subject to any legislative changes be the same.

As far as the need for a license as a energy producer under the Energy Act 2023 is concerned I do not see that taking more than a couple of years so I do not see any insurmountable difficulties in switching from gas to hydrogen storage as the legal backing is already in place.

I decided to assume that the argument by David and Hebridian9 may be correct and that IM would cost billions so to test this I assumed that the Capex for IM was £300k in 2010. If anyone knows what the actual original Capex was can they adjust my calculations on this site https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator . I then used this site to adjust for inflation. This gave an inflation adjusted Capex figure of £441,787,378.39. Even if you were to use the Producer Prices Index which I could not find a calculator for I do not see the Capex reaching close to £1bn yet alone to the billions suggested.

Bubble2021 ref 08.14 post You are quite at liberty to filter them if you wish and only rely on TheDogFarther. However, I believe in engaging with them so that we can debate their points of view. In doing so other people who only read the posts can see that what is being said. That is why I favour using factual arguments instead of abusing posters.

Hebridean9 ref 22.26 post i will ask you the same question I asked David which he was not able to answer. Why do you say it would cost billions. While the points you make are valid they would also support IM costing in the £100k plus range rather billions so how did you get to billions. IslandMagee Energy already own the land I believe so they will not have that cost.

Just seen this job advertised on LinkedIn. As it is based at Appledore might suit anyone in the North Devon area who knows what a production planner does. Job details are

About the job

Production Planner

The Production Planner will support production, ensuring the preparation of planning/scheduling instructions, equipment and materials are available for production to run efficiently. This role requires responsibility and accountability for developing and delivering the production plans, engaging with colleagues and customers to provide accurate, up to date information to ensure efficient scheduling and execution of current and future projects.

The Role

Plan, produce, issue, and monitor weekly manufacturing production schedule

Will drive awareness and accountability of daily performance targets and will be accountable for achieving them and highlighting any issues that may prevent to the Manufacturing Planning & Scheduling Manager.

Highlight any issues and/or improvement areas, making recommendations as required, to improve production schedules and business efficiency

Correctly compile all data within the Production Packages

Ensure all checks are completed prior to releasing Production Packages to manufacturing

accountable and take ownership to ensure material is available within the required time-frames on the production processes.

assist with planning equipment and material needs for job order.

Creating production schedules, producing batch production sheets and overseeing document flow from creation to archive.

Communicating with other departments regarding production schedules and any possible changes.

Maintenance of the MRP system

Other duties relevant to the role as required

Benefits

31 Days holiday

Company pension

L&D opportunities

Life assurance

Will probably be busy over the next week keeping an eye on the two oil traders and the general cargo shp that will be going through HARL Belfast.

Broomtree ref 17.20 post I do not see anything inappropriate in the way I used it. It is the only confirmed income in H1. Leaving any other as yet unknown income to cover everything else.

Broomtree ref 16.53 post you clearly did not recognise the figure I chose to use. £65m is all from the SeaRose contract so does not include any other work. Also as it only related to H1 the other costs you mentioned would be met from earnings in H2 as well as any income other than SeaRose in H1.

David ref 17.01 post two points firstly the FID has not been made so we do not know how it will be financed it could be financed by government grants. Secondly how did you get to costing billions of pounds.

David ref 16.19 post Can I just check what research you have done on the company order book to see if the debt can be serviced? The projected interest on a £200m loan at SONIA +3.75 would be circa £18m. Projected H1 income is £65m so the interest is covered by 3x. If the Sonia rate was to go down then the interet would also go down. Until the final loan terms are given we will not know what the principal payments are. From 2025 until 2032 the base income from the FSS contract so not including any other contracts would be circa £100m so why do you think HARL will be going bust in 10 years?

Bubble2021 ref 15.41 post as far as IM is oncerned prudence suggest to plan on a judgement in Q2.