Member Info for stokey12

A further delay in the financing is not helpful as it raises concern about the managements competence. That said the delay if it would lead to a 100% guarantee up from the normal 80% is fair as it would require ministerial approval. I also note that interest based on SONIA which is currently just over 5%. So the interest looks like it will be below 10% so once agreed interest payments should drop significantly.

Interesting article on new rules for CO2 Transport and Storage Licensing for transport by pipeline. Also Transport and Storage of Hydrogen. https://www.lexology.com/library/detail.aspx?g=d85a0d4c-175f-4ea3-bfed-5c7970570104&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2023-12-29&utm_term= If I am reading this correctly if/when IM moves to hydrogen storage this will require a license. I am not sure if any of the license conditions would give rise to any need for fabrication work that HARL could bid for.

Xenor ef 09.29 post I am not sure you are right. Tomorrow is what a press officer of my acquaintance would call a good day to bury bad news. That is to say everyone will be wantng to get off for the New Year break if they had not already. Not sure that it quite worked out last year. If the only bad news in the trading update is that they missed the revenue target by 10-20% then they could have posted the update last week.

Findingtheta ref 08.33 post my thoughts exactly.

Chrisatrdg ref 07.25 post If the finance news does not come tomorrow then we might have a sitiation where market confidence in HARL management that when it does come it would not cause a lift in the share price.

MaryBr190 ref post thanks that was very educational but not very good for insomnia you need the one for counting to a thousand.

Broomtree ref 13.06 post I would add to your list of things that news is waited on

The disposal of the Ex HMS Atherstone with the M55 presumably near completion news on what is going to happen to this ship that was bought for disposal is overdue.

The Green Tugs after around six months news on how this project is going on is about due.

Official news on the Maritime Division is still outstanding

Harland and Wolff Technology an update on this would be nice.

Progress on the Enchidia and Austal collaboration is also something that might be interesting.

Finally I would start to get a little bit concerned if we do not hear somethiing about Renewables and in particular sub contract work on Wind Farm development.

That is all I am expecting/hoping for nes on apart from what you mentioned.

ForestGump ref 12.01 post I think you will find that most traders are off until Tuesday. As a result I do not see any significant volume until then.

Just seen this article https://www.lexology.com/library/detail.aspx?g=ebc0a13e-0230-4270-abbd-5d446ff914aa&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2023-12-27&utm_term= When the Act comes into force it would be interesting to see how it is applied in relation to defence contracts. BAB and BAe do not strike me as the most innovative of companies. If that impression is true then it possibly opens up opportunities for HARL by leveraging its collaboration with other companies like Austal, Artemis Technologies and Echnidia. With these collaboration HARL might be able to show how green technology can be used in the military sphere.

I do not normally agree with Sinn Fein but if this report from UK Defence Journal is accurate then I will have to say they are right on this point https://ukdefencejournal.org.uk/sinn-fein-say-irish-reliance-on-british-forces-embarrassing/ I am sure that HARL would be willing to assist.

Broomtree ref 14.25 post Judging by JW's use of twitter I am surprised that he would even be on FB let alone replying to something on it.

This is from the Cornwall Live newspaper https://www.cornwalllive.com/news/cornwall-news/new-isles-scilly-fast-ferry-8993516 Interesting what is says about the two ferries I missed that. Nice to know the names.

JW reposted this post from HARL.

Season’s greetings!

2023 saw our organisation, capabilities and markets continue to grow and 2024 is set to be bigger and busier with major projects being delivered across commercial, cruise and ferry, defence, energy and renewables 📈

As our 1000-strong crew prepare to take a well-earned, short break over the festive period, everyone at Harland & Wolff would like to wish you all a Merry Christmas and a Happy New Year! If you need urgent operational support, please get in touch with your normal point of contact.

I wonder how long we will need before we find out what these major projects are we know what two of them are. The arrival of the SeaRose and the start of Scilly Ferries is there anything else? Might we see some renewales contracts I do not know just guessing.

Si_Derman ref 08.59 post In relation to the Valonia the following is taken from the Kraken Marine Services website.

General & Dimensions

Type of Vessel - Twin Screw Multipurpose Crew Vessel

Built - 1995 Australia. Redesigned in 2010

Call Sign - 2CVV9

IMO Number - 922579

Flag - UK

Gross Tonnage - 30t

Classification - MCA Cat 2 - 60nm from safe haven

So appears to have been designed as a crew vessel so I am not sure why it cannot be quickly adapted to work as a Crew Transfer Vessel.

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Broomtree ref 09.04 post on your point about it being accretive the issue is that we do not have any indication as to what the costs would be. We do not even have enough information to do an uneducated guess. I also note that two nore vessels are due in January. In addition it would seem that Kraken is already transporting passengers. Hopefully in the next seven days we will get an end of year update that does update us on all the new initiatives that have been started this year.

Lottie123 ref 09.13 post while I agree with the underlying sentiment the problem is with the wording of the model form of articles of association. If I recall them correctly, and by all means check as it has been a couple of decades since I last looked at them, they are worded in such a way that the Board of Directors can do virtually what they want short of liquidating the company without needing shareholder approval. The other exception is a takeover which requires the issue of shares. In short as far as I am aware JW has not done anything improper in starting this new venture.

With a new ferry service being launched next year this from City AM may give pause for thought https://www.cityam.com/uk-recession-risk-grows-as-new-figures-suggest--has-flatlined-since-march/?utm_source=CityAM&utm_campaign=11c4746a50-EMAIL_CAMPAIGN_2023_12_22_07_13&utm_medium=email&utm_term=0_-11c4746a50-%5BLIST_EMAIL_ID%5D I know this seems to contradict my Kraken Marine Services thread but I wrote that before I saw this. It may notbe all doom and gloom if the new freight service is competitively priced it might gain some new customers from the steamship company. In that case this could offset and reductions in visitors caused by people tightening their spending.

I have reflected overnight on yesterday's events or at least events that first came to light yesterday. On balance my view is that they can ultimately be found to be beneficial. I say this because according to the scilly ferries website two more boats are coming in January. This woulld mean that the marine division will have a fleet of four boats available. It is not clear if this is in addition to the two tugs mentioned in June I think it was. When they are not needed I believe the plan is to hire them out.

I am not sure how much HARL pays in transport costs but if a proportion of this is transferred to being moved by sea using the marine division this would reduce overheads. So long as costs are properly controlled, the combination of fees for hiring out the workboats and reduction of transportation costs may lead to a reduction in operating costs in FY24. Hopefully JW is not looking in but there is the question as to whether it woulld be cost effective to purchase some tugs/workboats and then charter them out to companies constructing windfarms.

LSE03 ref 19.24 post that is a very good question going by SYN00GOLD's 18.18 post and the documents filed with Companies House I would have to say no as nothing has been filed with Companies House to that effect. However if you look at the Scilly Ferries website then yes. Some clarity on the issue from HARL would not go amiss.

I wonder as the purchase of KMS would have been an all cash offer, as anything else would if I recall require shareholder approval, would the setting up the marine operations be in part the cause of the undershoot on revenues. My reason for saying this is that the Heads of Terms was in October but the acquisition was not until December. As indicated in the 9th October JW wanted to treat KMS as part of HARL from the signing of the Heads of Terms. This would have meant that HARL would have got the income from then. The auditors may very well baulk at that as JW did not actually own KMS during that period.