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MPL Mercantile Ports & Logistics Limited

1.80
0.00 (0.00%)
Last Updated: 08:00:17
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mercantile Ports & Logistics Limited LSE:MPL London Ordinary Share GG00BKSH7R87 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.80 1.70 1.90 1.90 1.80 1.80 10,261 08:00:17
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Mercantile Ports & Logis... Share Discussion Threads

Showing 2851 to 2874 of 4175 messages
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DateSubjectAuthorDiscuss
31/12/2017
16:51
In third world countries much kudos is placed on zeal, contacts, ability to negotiate officials and ‘ having a go’ rather than qualifications and experience.

That very much seems to be the case here ,and from what i hear to the extent of fraudulent misrepresentation.

I would steer clear of any indian investment, and that is from someone who was raised in india, and who likes the people and the country.

escapetohome
31/12/2017
16:27
Shareholders should bear in mind that the last two British non execs together with the entire executive Board, who delivered a 97.5% post IPO share-price fall, followed by a shamelessly disingenuous emergency placing using documentation containing construction progress expectation claims that were totally fraudulent in a desperate attempt to raise a further £37m from clueless II's, do not hold ANY shipping or ports industry professional qualifications whatsoever!

Whereas, my two industry friends and i speak from a position of holding the highest professional qualifications both industries currently examine for and can back it up with a combined 70 years senior management experience across both sectors.

mount teide
31/12/2017
16:08
fft - 'The animation on the front page www.mercpl.com/ is enough to hold them bang to rights. Cranes, 2 entrances/exits, logistics, containers, 25m to storage etc etc. Looks incredibly like the original plans. No cheap Charlie 2 sided jetty to be seen !'

Incredibly, the management do not share your view - when i put it to them along with the fact that the website description for the project(a legal requirement) also detailed that the Karanja Port development would comprise a 200 acre terminal with a fixed 1000m all weather quay equipped with ship to shore cranes and had done for the previous seven years - the clueless, current CEO and COO laughably stated that "shareholders should not take as fact that what appears on our website or in promotional videos for the port will be exactly what shareholders will get!"

Following a letter of complaint to the Nomad, very shortly afterwards the Project description on the website was removed and replaced with the 400m lightweight, open jetty description.

mount teide
31/12/2017
08:29
Reminds me of another company many years ago, who had pictures on their website of properties they were purporting to be agents on for sale.

They probably thought they could get away with it, but one of them was a large hotel which they listed as being in another part of the world to where it actually was. I admit it was unlucky on their part, because who on earth would recognise that the hotel was in Costa do Sauipe in Brazil....unless you had been there!

I cannot believe the advisors continue to support such behaviour from the bod.

tiltonboy
31/12/2017
05:02
PJ1,

The animation on the front page www.mercpl.com/ is enough to hold them bang to rights. Cranes, 2 entrances/exits, logistics, containers, 25m to storage etc etc. Looks incredibly like the original plans. No cheap Charlie 2 sided jetty to be seen !

fft
29/12/2017
12:37
My heartiest thanks to the utterly mendacious management of MPL.

In 2016, after establishing beyond all reasonable doubt the management had repeatedly lied via verbal and written statements i, along with two industry colleagues elected to take a hefty loss and placed the proceeds into a quoted company operating in the mobile advertising sector, which has since been named AIM Company of the year in its sector for 2017.

Delighted to report the returns have been spectacular, with Taptica's share-price finishing 2017 at an all-time high in a sector with a huge flood tide behind it - the mobile ad sector has quadrupled in size over the last 10 years and is forecast to continue growing in excess of 20% per annum through to 2022.

In MPL's share-price terms the Taptica investment is now equivalent to £1.33, with some analysts forecasting MPL's IPO share-price of £2.50 for 2018.

Sadly, those taken in by your lies now need a 19 bagger here just to match our Taptica investment performance to date!

So certain are we of MPL being a commercial failure because of the appalling behaviour of the management, we are seriously considering breaking a habit of a lifetime and going short MPL in 2018 but, would prefer to see a few more token management buys before we do - to push the share price up so we can maximise our returns.

mount teide
22/12/2017
15:43
PJ1 - The Port video had the following opening statement with respect to the design of Karanja Port:

"The port WILL be an ALL WEATHER PORT"

That is as blatant an example of misleading investors as its possible to get. The lightweight open jetty with a single access point at the eastern end is NO such thing and will restrict most if not all dry bulk shipping to just the 7 month dry season.

It is simply impossible to handle this type of shipping during the monsoon season without putting the entire ship's cargo at risk to water damage once the hatch covers come off the vessel cargo holds to commence cargo operations.

If a Port professional were asked to design a port terminal in a region with a monsoon climate and restricted draft access like Karanja Creek on the Uran peninsula, so as to offer the best prospect of achieving commercial success - the design would mirror the all weather terminal design with the fixed quay put together by Royal Haskoning, as detailed in the Arden Partners 2013 Note.

On the other hand if the request was to design a port terminal costing no more than £50m(equal to the bank debt), then what you would end up with is what shareholders are getting at Karanja - a lightweight, low tech weather affected open jetty, serviced with small mobile cranes and grabs, with an average cargo running distance to the open storage compound of 750m.

Never mind the port, where is the 100 acre logistics park that Gandhi told shareholders to expect first revenues from by the end of 2014 in an RNS in early 2014? Some 4 years later in late 2017, work to commence the reclaimation of the land to build the logistics park is still yet to begin! The most blatant example of Fraud by False Representation i've seen outside some of Aim's greatest ever frauds like the Globo Plc scam, which saw £100m of shareholders funds disappear like morning mist from the company's bank accounts.

Answers on postcard to Aim Regulation and the SFO.

AIMHO/DYOR

mount teide
22/12/2017
12:06
I agree, stay away from dodgy India, I certainly got burnt on this one. As MT says the Banks will foreclose when the paucity of business fails to support that 13.5% interest rate. Then a 'rescue' consortium will come along and pick the whole thing up for the price of the Bank debt. I strongly suspect the 'rescue' crew will be very well known to Mr Ghandhi. No point in going insolvent until the thing has been completed, so about 18 months then?

I suppose the 1000 claimed metres is both sides of the jetty plus the sheltered quayside. This is effectively a barge port, probably max 5000 tonnes? Perhaps the master plan is to rinse and repeat until Mr Ghandhi has a chain of coastal barge ports?

lefrene
22/12/2017
11:19
I have had a quick look at it seems the (pump) proposed Port simulation video has been removed from the web site.
pj 1
22/12/2017
10:12
Stay away from indian investments.

A mountain of hype.

Very little substance.

You dont need all that analysis of trade.

Just stay away.

escapetohome
22/12/2017
09:51
dvi - its very easy to get bums on seats if you target low value cargo which attracts very low port handling and storage rates - since few terminals want to handle it!

The type of traffic being contracted to Karanja to date most professional port operators would not have entertained, or considered only when all attempts at attracting much higher revenue generating cargo have been exhausted.

Its extremely low value dry bulk cargo, and so can only generate a very low level of handling and storage revenue per tonne handled - compared to handling very high value cargo in deep sea containers at JNPT.

Additionally, much of the dry bulk cargo is going to be seasonal - since the revised much lower spec terminal has no berth weather protection to allow handling of this tyre of cargo during the monsoon season, plus there is now a 750 m run to the storage compound compared to a 25m run for a terminal with a fixed all weather quay as in the original design.

mount teide
22/12/2017
09:26
INDIAH , GO there to learn business ethics!!
escapetohome
22/12/2017
09:25
OP - 'HE MADE HIS MONEY BY RENTING LAND TO PEOPLE FOR SHORT LEASES AND AT THE END OF THE LEASE KEPT THE BUILDING !!'

You seem to have overlooked one very important point - in this case, the asset Karanja Port reverts back to the MMB the Marine Authority, at the end of the operating lease!

If the Karanja port operator is unable to make the terminal a commercial success(a nailed on 100% guarantee), not only will the banks take the asset back but, the 'value' of the operating lease on the terminal when they market it for a trade sale will be extremely low.

mount teide
22/12/2017
09:21
Updated pictures...
someuwin
22/12/2017
09:15
They actually didn't expect to get bums on seats this quickly so well done Mpl. Wow after a painful 5 years, they are finally getting there. I remain a long term holder but certainly tempted to add now. As always, thanks to MT for keeping us all firmly grounded!!
deepvalueinvestor
22/12/2017
08:58
HAVE ANY OF YOU EVER READ j.j.ASTOR LANDLORD OF NEW YORK ?HE MADE HIS MONEY BY RENTING LAND TO PEOPLE FOR SHORT LEASES AND AT THE END OF THE LEASE KEPT THE BUILDING !!
I THINK THIS IS A VERY CLEVER DEAL.NO CAPITAL COST BUT LOTS OF FUTURE BENEFIT

old punter
22/12/2017
08:52
This RNS should/will make extremely disturbing reading for shareholders with any knowledge of the shipping and ports industry.

The new contract is to handle shipping and cargo at the very bottom of the ports industry food chain - extremely low value and low handling revenue generating cargo.

The type of business typically handled at small little tidal ports on the River Humber - it would not sustain a £20m new build terminal never mind one with a £150m build cost carrying £50m of debt with a 13.5% interest rate.

In addition, the client has negotiated with MPL to do all its own cargo handling! Clueless, totally clueless!

Its almost as if Ghandi has carefully selected clients/cargo guaranteed to very quickly deliver an operating performance that is guaranteed to be a commercial disaster. So that when the Port fails spectacularly and the banks grab the assets back, they would probably be willing to accept a very low ball offer from a consortium of Indian investors very well known to MPL's existing shareholders.

AIMHO/DYOR

mount teide
22/12/2017
07:51
Nope - not currently in this. But watching.
someuwin
22/12/2017
07:47
The port is not going to be able to service its debts with that grade of contract.
Another equity raise next year priced at pennies to clear the debt?

phowdo
22/12/2017
07:45
Lol. Hope your not in this one someuwin Customer building own warehouse. Very low value customers.
waterloo01
22/12/2017
07:37
Mercantile Ports & Logistics enters second binding customer contract in India

StockMarketWire.com

Mercantile Ports & Logistics entered its second binding customer contract to manage cargo at a port and logistics facility in Mumbai, India.

The contract, which is with an Indian-based trading and stevedoring company, has a seven-year term, and is then extendable by an additional two years.

Under the contract, MPL will provide berthing facilities and approximately seven acres of backup land suitable for storage of cargo, which is expected to include pulses, fertilizer and construction materials.

The area of backup land will increase as the cargo volume is increased. The contract envisages a minimum of one million tonnes of cargo in Year 1, two million in Year 2 and three million in Year 3.

Under the contract, the customer shall be responsible for all handling operations and the customer will make a substantial capital investment in the facility through the construction of warehouses for storage.

The first cargo under the contract will land once the customer's warehouses have been constructed, which is expected to be in the second half of February 2018.

PROJECT UPDATE

Having announced that piling was completed on 3 November, the company is pleased to report that three berths on the jetty have been completed and are capable of receiving vessels.

Channel dredging is complete and dredging in the berth pocket is progressing in line with the jetty becoming functional.

The reclaimed land is being readied with the required finished surfaces for the different cargo types.

An initial area, approximately 50 acres, will be completed and available as the necessary back-up land by January 2018, in time for the first cargo under the contract announced on 20 August, which is scheduled to land during the third week of January 2018.

The team has focused on ensuring that the facility will be part operational by the end of the year and the company is pleased that this target was met.

The company is also pleased to report that the vast majority of the technical and engineering workstreams for the entire facility are now complete.

Reclamation work has continued in parallel with other workstreams since the monsoon eventually ceased in October and, now that the site is dry, reclamation and ground improvement activity for the balance of the reclamation works will accelerate and continue whilst the Facility is operating.

Additional surcharge material continues to arrive on site on a daily basis and, early in the New Year, resource will focus on the less technically demanding expansion of the site's footprint.

To date, approximately 95 acres have been reclaimed and reclamation material for a further approximately 10 acres is already on site.

The company's infrastructure and equipment purchasing schedule is progressing as expected.

The group's first contracted customers will initially employ their own equipment and the Board is confident that the facility's infrastructure and equipment will meet the requirements of its customers, as necessary.

As the facility approaches the date on which it will welcome its first customer, the company has intensified its marketing efforts.

One example of this was management attending the Maritime, Ports, Logistics and Warehousing Exhibition 2017, which was organised by the Confederation of Indian Industry in Mumbai last month.

The company was proud to exhibit alongside some of India's leading companies in the sector. The company's business development team leader, Umesh Grover, was a panel speaker, and the company was delighted with the profile that this event achieved.

Executive Chairman Nikhil Gandhi said: "Management is very pleased to have reached this important milestone.

"The contract announcements, together with the commencement of operations, leads management to be increasingly optimistic on the operational prospects of the company as we seek to achieve our goal of creating a modern logistics facility, which is strategically positioned to be an important part of Mumbai's logistical infrastructure."

someuwin
30/11/2017
09:13
"A Tale of Two Ports" would make an apt title for a piece in, say, the FT.
phowdo
29/11/2017
16:22
Barely two years after commencing the build out of JNPT's new Terminal 4, vessel operations are due to start next month.

PSA International took delivery of three super-post-Panamax ship-to-shore cranes for the Port Terminal in June and the second three in September.

In addition, 18 rubber-tire gantry cranes and four rail-mounted gantry cranes, designed to handle the 1.5-kilometer long double-stack container freight trains that will service the Port have arrived and are now installed.

The first phase of the Terminal includes a quay of 1,000 meters and a cargo capacity of 2.4 million TEU per year. Phase two will see the berth extended to 2,000m and the storage yard double in capacity to 500 acres. This will increase JNPT’s combined capacity to nearly 10 million TEU.

PSA have hired the waterfront workers from the local community for employment at the terminal as part of a previous government commitment to rehabilitate farmers who had surrendered land for the port development, and will continue to give priority to suitably qualified JNPT project-affected persons, according to management.

Interestingly, in addition, JNPT is positioning itself to handle higher volumes of general cargo trade, via a number of coastal general cargo berths together with a string of rail-road connectivity infrastructure projects with state investments worth Rs. 1,117.03 crore. These include a common rail yard for all terminals, a dedicated rail link to the PSA terminal, a third rail corridor between JNPT and the Jasai rail station, refurbishment of connecting highways, centralized parking lots for trucks, and backup yard improvements.


Congratulations to ITD for bringing the huge JNPT Container Terminal 4 into operation on time and budget.

mount teide
22/11/2017
09:04
In 2018/19 they certainly won't be generating anywhere near the cash required to pay 50% of the interest on the debt, never mind any of the Capital.

It is totally disingenuous to claim a 360m lightweight weather affected, open jetty as having 800m of 'working' quay length.

Most 4,000 dwt small dry and break bulk carriers will only be able to access the 'Port' for 4 - 6 hours a day due to the the fact that no dredging has been carried out in the three mile Karanja Creek approach channel from Mumbai Harbour, other than off the berth(Confirmed by latest Navigational Chart updates). Which is totally contrary to the management's claim that approach channel dredging has been going on for 2.5 years and is now complete!

Since a 2.5 year dredging contract for the approach channel for a minimum 4.5m depth (since reduced to 3.5m, the current natural scoured depth!), would have cost circa £5m plus, some 'organisation' would seem to have got paid handsomely for largely doing sweet FA, according to the latest Admiralty navigational charts.

AIMHO/DYOR

mount teide
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