Member Info for stokey12

Ref my 08.24 post that should be not done to the granular level.

Consuela ref 08/15 post You do realise that accounts are done to the granular level so that you can tell how much was recieved from any one contract. All the accounts will tell us is how much was recieved in a particular period not from where.

Consuela ref 19.32 post In your post you state 'I didn't get into the specifics for a reason.' I presume the reason is that you have no clue what you are talking about. The only reason that a payment below the base contract value would be paid is if there is a liquidated damages clause in the contract and the work to be done under the contract is completed late. As the bid was written by a professional bid writer and not JW this would have been provided for in the pricing. As the term base contract value is used I would presume that there is a price variation clause in the contratc to allow for additional payments above the base.

Bearing all this in mind I would expect that if there is any change in the contract value it would be an upward variation. I also note that HARL did the 2012 drydocking so there might be some employees on staff who would have been around then who would know the SeaRose and can help things run smoothly. Considering who the other bidders were is probable.

Came across this on LinkedIn https://maritimeuksw.org/south-west-maritime-to-receive-7-5m-funding-boost-to-drive-innovation/. HARL does know about it as Ben Murray celebrated the news. Not sure if this would be of interest to people on the Board who live in the area.

Kaeren ref 10.37 post thanks for that looks like I may have got the barge count wrong.

This article from the NI Ferry Site shows how vessels built by HARL in the mid to late 1970's are still in service. Hopefully HARL will be able to do the next refit on some of them. I hope some of the skills from the 1970's have not been lost completely. https://www.niferry.co.uk/sealink-saints-get-a-fantastic-new-lease-of-life-part-1-galloway-princess-stena-galloway-le-rif-morocco-sun/.

On checking the 1 June 2022 RNS the first contract was for 11 barges. To date six barges have left Belfast. Does anybody recall how many have left Methil. By my count it looks like the number needed to complete the 1 June contract must be nearly done. This would bring in £8m less any advance payments.

Can I just check from any accountants on the board does the payment get shown on the accounts when recieved or when the contract is completed.

Hebridean9 ref 09.39 You are right but I did use the low end of the FSS Manufacture Sub Contract so I could be £90m out the other way. But my point was that despite the weakness in the balance sheet they are able to secure contracts from big players.

LSE03 ref 08.05 post That is interesting as no barges are showing yet as due for departure from Belfast. Could we be having two departures from Methil?

Below you will find a list of all the major contract wins in the last 18 months by HARL as far as I recall. If I have missed any please let me know. To get on the list the contract value has to be above £20m so the cory barges contracts which combined at circa £18m is not on this list.

M55 Contract 55

FSS Manufacture Contract 700

SeaRose 61

Total Value 826

I would observe that none of these contracts would have been awarded to HARL either as a free standing contract or as part of a consortium if there was any doubt of HARL's financial health.

Consuela ref 18.04 post they did not do so in 2012 when they did the last dry docking of the SeaRose. Do you have any factual basis for your statement?

Consuela can I ask for a clarification of your 12.48 post as it is ambiguous. Are youn saying that HARL will get less than £60m which is less than the base contractual amount. If so can you exxplain the basis for saying this. Or are you saying that HARL will get more than this in which case we are for once in agreement.

Consuela ref 12.48 post you are right HARL are not getting £60m the base contractual value is £61m which means that is the minimum they will get. Did I misunderstand your post and you meant that they will not get the money due on the contract if that is meant as this was a contract one against stiff competition from well known international competitiors can you justify that statement.

Correction to my 03.04 post yes In was up that early. On checking the Belfast harbour website it would seem that the visit is to pick up cargo. We might see her in future for dry docking.

Just saw this as reported yesterday the cruise season is oer so the reason for the this visit is unknown. There are two reasons that I can think of. The first is sea trials if she is due to work a route out of Belfast they need to know that she can get in and out of the Berth. Second she is coming in for final repairs. https://www.linkedin.com/feed/update/urn:li:activity:7121615308389273600/?origin=SHARED_BY_YOUR_PAGES

I wonder if this will lead to work on any of the four planned FPSOs for the UK due by 2027? Belfast has one of the few drydocks of the right length.

Oldbutnowisa ref 15.02 post Yes look at the accounts but not only the accounts. I note that there has been no equity raise for over 12 months yet in that time there has been the £700m FSS Manufacture Sub Contract. There was also the £55m HMS Quoron Contract. Neither was followed by an equity raise. Can you please be factually accurate when rubbushing HARL.

Jfk9 ref 13.20 post I supect if this appeal they will petition the Supreme Court for permission to appeal to them. Only about 5% of people get permission to appeal to the Supreme Court but it is good for at least a years delay.

Wyndrum ref 12.31 post as things stand IM can legally go ahead subject to one caveat. The judge dismissed the application for a judicial review so the license remains in place. As I read the RNS the caveat does not apply.

A n RNS has been issued confirming that an appeal has been lodged. I note that discussions towards monetising IM remain ongoing.