Harland & Wolff Share Discussion Threads

[jaknife] 03/6/2024 12:41

seagreen,

"yawn .........the company is crucial to the UK shipping industry and the economy no billionaires in sight"

*IF* Harland & Wolff is "crucial" then let's save H&W. But the Government saving H&W isn't the same as the Government bailing out shareholders and bailing out Riverstone.

And yes, the two founders of Riverstone are billionaires, here's one of them selling his $72.5m New York mansion:



The founders of Riverstone would be the biggest beneficiaries of the Government lending £200m to HARL since £100m would immediately leave HARL to pay them off!

JakNife

[seagreen] 03/6/2024 12:27

yawn .........the company is crucial to the UK shipping industry and the economy no billionaires in sight

[loglorry1] 31/5/2024 15:59

I don't know how nationalising the ports/docks as you suggest JN would actually help HARL survive. They still burn loads of cash, are loss making, and have to repay Riverstone. Even if the Gov nationalised the ports/docks and let them work from them rent free it wouldn't particularly help. Why would Riverstone agree without suitable compensation anyway (being secured creditors) and then we are back to bailing out billionaires.

[atmysignal] 31/5/2024 15:46

Contracts are due next week

[jaknife] 31/5/2024 11:06

Harland & Wolff going to zero even with a Labour win says Evil Banksta

[owenski] 31/5/2024 10:03

Looks like the share price is heading for a cliff fall. Shouldn't be any surprise though to sensible folks.

[seagreen] 31/5/2024 09:41

SonOfAPeach - 03 May 2024 - 19:01:19 - 5022 of 5139 H&W...PIONEERING TWENTY-FIRST CENTURY OFFSHORE AND MARITIME ENGINEERING - HARL
Si,
Sad as it makes me, I did try to set up a new account, solely to explain my disappearance and to disappoint those who saw me as a troll and would have assumed I had slunk back to my cave.

Please do go back into your cave ...or post a balanced contribution.

Your sole contribution since your new log in is to post negative views a tad transparent say I

[sonofapeach] 30/5/2024 23:27

I am told that Methil has one employee greasing the wheels, to stop everything seizing; what else is going on up there?

[papillon] 30/5/2024 21:05

Looking at the long term chart in the header it looks to me like support has failed and the share price could be heading towards the low of circa 5p from around the end of October 2022. Whether it goes that low who knows? I can't predict the future.
PS my longer term log chart is Strongly Bearish. My short term charts are also Strongly Bearish.

[seagreen] 30/5/2024 16:17

Just the sudden volume in buys...maybe just maybe

Something for the weekend sir Suits you sir

[loglorry1] 30/5/2024 15:12

Yes continued meeting of payroll is a bull point. There's not much else though is there! bleat bleat.

[seagreen] 30/5/2024 13:49

Reading between the lines If he backs away (or convinces people) from the ferry shnanigans looks as though they would get the necessary approval potentially as it seems the existing ferry company is squealing. Interesting.

There is too much at political stake for the people of both Northern Ireland and Scotland not to approve potentially.

Well I have bought 200 sovs worth as a punt and gone long again.

The upside is to great if approval is met.

In my Humble oppinion.

Looks like yet another payroll met despite dear old Loglorry's bleating since he claimed thye would not meet September's payroll.

What larks

(From a technical point it has bounced on resistance )

[jaknife] 29/5/2024 22:55

Titanic shipbuilder warns Scottish yards and 500 jobs are at risk

[diku] 29/5/2024 08:35

Maybe people just don't want to work in industrial sectors...hard graft day in day out...rather have ones head buried in mobile phones...

[loglorry1] 29/5/2024 08:25

I'm not doubting your estimates but where are they getting the cash from for the wages? They were maxed out on the Riverstone loan almost a year ago now. I'm a bear but if a bull claims "well they can't be doing so badly cos nobody laid off yet" it needs a counter.

[sonofapeach] 28/5/2024 18:33

I think a mean wage bill of £3k per capita per month would be reasonable. There will be a lot of apprentices on far less, but we pay our skilled marine engineers a lot more; plus Woodie and Arun will be troughing around £50k per month each (before bonuses) and a lot of their senior chums will be coining it whilst they can.
Mostly someone else's money, of course (formally shareholders' [but they can't raise any more to steal], now Riverstone's), because they ain't generating much cash at the moment.

[loglorry1] 28/5/2024 09:22

Thanks SonOfAPeach but if the wage bill is £4-5m/month one does wonder how they are paying it! They should have run out of cash by now. The bulls will say its because sales are better than expected I suppose. I think its in the post.

[sonofapeach] 27/5/2024 20:14

Loglorry1,
Indeed; there are those who continue to insist that the £77m has been invested - where did it come from and where does it show? I can't find the relevant piece from the Company now (a LinkedIn comment or a response to the media), but from their own lips it was stated "the £77m to be invested". It sure ain't coming from the Spanish government, who would like nothing more than to have 100% of the FSS pie with Navalia, especially after Brexit.
The H&W wage bill alone (assuming they really do have 1500 on the books), given how top-heavy the place has become (so many washed-up old-timers taken on; presumably they know where the old bodies are buried, hey John?), must be £4-5m a month.
My colleagues were at the Scottish Skipper Expo a few weeks ago and got talking to the H&W rep (it was a pathetic show, by all accounts), presumably from Methil, to ask how things were going. Er, great, except we have no work, was the response...
Oh, I have just remembered - what was the recruitment fair in Southampton all about a while back?

[loglorry1] 23/5/2024 08:44

Labour will also say "no" because they are not in the business of bailing out billionaires who own Riverstone. They may say yes to a plan which first swaps the Riverstone debt to equity but then equity is toast anyway.

But setting all that aside - HARL have 1500 staff to pay for another 3-6 months while we elect a new set of idiots and they all then need a month or two to get their feet under the table. So no doubt HARL will run out of money by then and so somthing will need to get done first.

[john mcinnes wood] 22/5/2024 19:42

Agree there will be no decision now, looking forward to Kevan Jones being new Secretary of State for Defence. JW & 'LinkedIn Arun' need to look for a Plan B.

[tiredhands] 22/5/2024 14:24

This UKEF deal has been dragging on since last December and beyond.
Would suggest that the issues are fundamental ones and not straightforward? Otherwise, they could give "agreement in principle" while working through the detail.