Hallin Marine Subsea Share Discussion Threads

[stluke] 15/9/2009 07:44

Pretty much as expected no real nasties in there, margin was better than I expected, thought it may be sub 25%, management seem to be taking proactive action which is always good to see.

[evaluate] 15/9/2009 07:41

Results out.

- Revenues flat with last year
- Profits slightly down
- Order book level with end of March
- Relatively confident outlook statement

All in all, they're quite a relief.

Should rise steadily from here.

[koolio] 15/9/2009 07:34

Nobody has anything to say about the results and statement????

[investinggarden] 14/9/2009 12:27

Hallin wins Indonesian deal

[fr4dge] 14/9/2009 11:44

The rise continues.

let's hope the results add fuel to the fire.

Particularly iterested in reading their outlook statement.

[clancrackan] 12/9/2009 20:57

T20
It seems that there is a contrast between the East Division's current performance
especially in Asia and the currently stronger West division
which is performing strongly offshore Africa, Gulf of Mexico, India and
the North Sea. I wonder if there is any particular reason for this or it
is just the market or perhaps Cal Dive is pushing strongly in Asia at the
moment, I don't know. However Hallin has the ability to be adaptable and
I expect to see a strong performance in the West this year. We shall see.

[joe say] 12/9/2009 08:26

Since the last annuals, publically announced contracts include;

$5m contract extension
$6.5m vessel
$15m (across 2 years)
and now this $20m.

This from a base revenue of less than $140m, and excluding all the routine small contracts, and those existing revenues/contracts already in place, together with the early termination fee which allowed the company to effectively part double bag on the same asset.

Looking good imo

[greek islander] 12/9/2009 01:40

UK Analyst late evening:

"Shares in subsea solutions company Hallin Marine (HMS) climbed 8p to 132.5p after the group announced the award of a two year, 20 million dollar contract with Pertamina Hulu Energi. The contract will see the group's flagship subsea operations vessel, SOV Ullswater engaged in the Java Sea, Indonesia. It will also involve Hallin in the subsea inspection, repair and maintenance of 34 offshore oil and gas platforms and associated pipelines and subsea infrastructure. Jon Attenburrow, of Hallin Marine, said: "We are pleased to be able to announce this significant contract award with this industry major." The client is also entitled to call on a variety of options, which offers scope for extra, chargeable call-off work. The group states that the timing of the new contract makes efficient use of the early completion of the contract that the Ullswater has been working on in the Philippines, where a client paid an early termination fee to the company after its vessel requirements on the project changed. "

[taylor20] 11/9/2009 20:09

LOL! I doubt I had any influence, although I nearly prefaced my comment with a gnawing doubt to cash in some profits (It does tend to drop back after these pre-announcement rises). The forthcoming results stayed my hand.

As you rightly say the important thing is that the assets are employed. I've often tried to highlight the significant value of Hallin's assets - believing that they typically are worth much more than their book value. As such I have not really been troubled with any worries regarding depreciation - having been proven time and time again that their Sat systems usually get sold at a profit to their NAV.

If we get the opportunity to pick up shares below £1 again must remember to tuck in!

[loafingchard] 11/9/2009 12:05

Excellent news again imho . I am very comfortable with my holding here . Onwards and upwards .

[fr4dge] 11/9/2009 10:17

HMS have now announced $41.5m in new contracts in 6 weeks.

This will be on top of smaller project that they don't announce.

Sounds like things are well back on track to me.

[clancrackan] 11/9/2009 09:21

Ditto T20 holding and steadilly adding.

[taylor20] 11/9/2009 09:02

Still holding all my Hallin shares.

Playing D.Advocate, an alternative reading of the situation is that: Shell found a cheaper vessel to provide accommodation support than the Ullswater (which was chartered in Feb for $20m for one year, with options to extended), and bought out of the contract. Hallin have managed to redeploy the vessel at relatively short notice but with a Sat system and only for $10m/year.

[volvo] 11/9/2009 08:59

THE DIVERS KNOW LOL.

[greek islander] 11/9/2009 08:44

Yes superb news and I now rewarded for my faith here as are many of you - well into the blue again, particularly chuffed at recent buys when the share price dipped.
Will be buying more if there is any sort of retracement.

[rivaldo] 11/9/2009 08:15

Terrific news - $20m is pretty material stuff.

Back to 160p or more pronto imo assuming the outlook is as reasonable as all the recent contract wins suggest.

[mpclag] 11/9/2009 07:59

mm's caught with their trousers down on this one!

[evaluate] 11/9/2009 07:20

Great news.

A bonus for finishing another project early - great for customer satisfaction & a new large contract to boot - with potential extras chucked in.

Brilliant news - these will be back retesting recent highs very soon IMHO.

Really glad I kept all mine when things were a bit rocky a few months ago.

[koolio] 11/9/2009 07:14

Loving it...

What a result for the management & the shareholders.

[koolio] 11/9/2009 07:14

Loving it...

What a result for the management & the shareholders.

[joe say] 11/9/2009 07:13

excellent news - continuing asset use + clarity of revenue + potential extra chargeable works

[koolio] 11/9/2009 07:13

Loving it...

What a result for the management & the shareholders.

[stluke] 11/9/2009 07:12

Yes as I suggested the other day a new pre results contract, I guess the most pleasing aspect is that their assets are going straight back into utilisation which bodes well for the future.