Srt Marine Systems Share Discussion Threads

[supernumerary] 27/3/2024 21:20

This is a useful analysis of the Baltimore accident. It's clear that AIS was still operating at the time of impact, as I surmised. Unfortunately the information generated didn't go into a system that was capable of interpreting it and taking the appropriate action eg alerting vehicles entering and already on the bridge.

What's new for me in this is the capability of AIS, with supporting systems, to inform the subsequent enquiry and remedial actions.



A few extracts:

At the time of the accident, two pilots [...] from Baltimore were on board. The Dali was broadcasting its position publicly via the automatic identification system (AIS) and was traveling at a speed of over 8.5 knots. It then slowed to around 6 knots in the moments before the crash, according to AIS data.

[...]

Lawyer James Turner of Quadrant Chambers in London specializes in, among other things, ship collisions. He says that there would have been no automated systems on board a merchant ship of this kind able to prevent the impact. Information from radar, AIS, and visual observations would have been available to the crew, however.

[...]

He adds that estimates of the ship’s speed at the time of the incident as recorded by AIS are likely “99.99 percent accurate.”

[supernumerary] 27/3/2024 18:34

cm - thanks - it seems astonishing to me that for a behemoth like this, there's no battery backup for vital safety systems. I don't suppose ST commented on that?

[countryman5] 27/3/2024 18:04

I sent an email to Simon about the Baltimore bridge and he consented to me posting his reply. (Note the SRT reference)

The bridge had 4 SRT AtoN devices fitted to guide vessels in the right area. The issue was it lost power and steerage and so couldn’t do anything about it.

What it does do is highlight how important navigation aids are - the atons were fitted to stop the many accidents that would otherwise happen. We can now see what happens when a ship hits a bridge. 99.9% of the time having das atons will prevent accidents. Most bridges are yet to be fitted.

He also said that the cause needs to be investigated and it appears the vessel lost power.

[lavalmy] 27/3/2024 13:14

Hi AE

If we assume that series of projects resembles a much bigger version of what Bakamla are getting and with extra bells and whistles, then there was a Norwegian, a German and a French bidder. The IMEMS project was to be financed by a French Treasury loan rather than export credit. I don't think that the buyers' processes differ between the two, but the financing is well different, a soft loan as opposed to export credit which has to meet WTO standards.

Given the size of the overall programme, I think it is safe to assume that all the big players will have been pitching for business.

[pinkfoot2] 27/3/2024 12:54

If it was a loss of power on the ship, AIS wouldn’t help at all

[countryman5] 27/3/2024 11:18

UKEF support for future systems contracts around the world will become increasingly important. Obviously M E countries with oil revenue have the necessary funds but many S E Asia and African countries need a line of credit. Although the UKEF contract has taken much longer than SRT had hoped, it has set the ball rolling for other future contracts. Although £145 million is the largest SRT systems contract so far, others in the pipeline are much larger. Another source of finance for fisheries contracts is the World Bank, which understands the SRT system. My understanding is that the World Bank will fund upto 50% of certain fisheries contracts.

[alter ego] 27/3/2024 10:48

"a less suitable bidder if they have the finance"

well we know what happened when CLS was deemed less suitable but had the finance. Who else would qualify as less suitable?

[effortless cool] 27/3/2024 09:58

Thanks, but what is the source, and how would you interpret it?

[lavalmy] 27/3/2024 09:05

I saw this and found it interesting.

[...]

It seems to be something of a leak and suggests to me that decisions are currently being made on the PCG's budget. Tier 2 (new) projects have to be submitted by 20 April to the budget people and, of course, on the right forms. Foreign assisted projects have a different form to local ones and you can't submit both.

The other thing is that even if you are the preferred supplier the project can be awarded to a less suitable bidder if they have the finance. I know that UKEF have been in discussions over there but our experience to date with them has yet to show an outcome. However, given the very large expenditures envisaged for the APF/PCG modernization plan, finance will count for a lot.

[yump] 26/3/2024 18:18

With a ship that size, they would have had to change course a long way before the bridge, so power must have been lost a fair time before the collision.

[supernumerary] 26/3/2024 15:44

Well, you could automate the process to put warnings on the bridge signs: that would stop vehicles entering and warn those already on it. Yes, it could be done manually, but that costs money, and is not very reliable, particularly for accidents like this that happened overnight.

[west country elvis] 26/3/2024 15:40

Also, the piers of this bridge are already marked with AIS AtoNs. Take a look on marinetraffic.com. Each pier has a marker plus one to either side to mark the navigable channel.

However, in general CM5 is correct, marking fixed structures in the busy marine domains with digital AtoNs is a very good idea.

[goodapple] 26/3/2024 14:47

I read that the vessel is believed to have lost power ( and therefore steering ) shortly before the collision.
Not much DAS could do about that.

[countryman5] 26/3/2024 13:53

A major shipping disaster at Baltimore in the US. Major rivers are used as transport arteries in the EU as well as the US. DAS has the potential to revolutionise the navigation of these transport routes. DAS can provide information about height clearance under bridges and details of side currents. DAS also allows ships to view other ships hidden behind bends in the river, both day and night. No doubt there are numerous information feeds that can be transmitted to passing ships via DAS.

[pinkfoot2] 22/3/2024 16:45

The company has a serious problem with over egging and under delivering CM-SP spikes then falls away, normally with a cash raise in between.We now have a long period of account which one can only assume dispenses with a disastrous warning this month.This after the 23 numbers were apparently skewed by late revenue into 24-now unsure whether received.

How can we follow this from a normal reporting and valuation perspective?

It all hinges on hope and FOMO for me-that’s what binds us in

[countryman5] 22/3/2024 11:37

The CEO released the price sensitive information about the contract and UKEF support with the RNS in May. However, the market is frustrated about timing of the start date for the contract.
Obviously numerous people (company employees, Nomad, UKEF, Country MOF etc) are aware of events and timings and therefore these people are insiders and unable to trade in SRT shares or pass on such information to others. Likewise, Mr T cannot give a running commentary.

[supernumerary] 22/3/2024 11:30

Does anybody ever get in trouble for anything on AIM? There's not much evidence of it.

[effortless cool] 22/3/2024 10:16

CM5 - CEOs don't get in serious trouble for disclosing price sensitive information. They can get in serious trouble for not disclosing it, however.

[countryman5] 22/3/2024 08:38

I imagine that ST is as frustrated (if not more!) as all posters on this board with the delay in announcing the start of the UKEF loan agreement for £145 million.(RNS 17 May 2023. 80% contract spend over 2 years). I suspect that he would like to disclose the expected timing of such an announcement, but he would be in serious trouble for disclosing such price sensitive information. Let us not forget that the share price was over 60 p when the deal was announced. As always, SRT is dependent on timing decisions controlled by others.

[lavalmy] 20/3/2024 17:36

Mind you EE, not all are feeling that bright, probably because of the poor record etc.

Of course there still is the high growth potential and I expect to see some fairly vertical action at some point soon both underlying and share price performance. How that relates to the long-term performance with all the dilution along the way versus any expanded market that might materialize is a bit moot. I certainly would have preferred more instant gratification as opposed to none at all over 8 years.

[yump] 20/3/2024 17:34

Yes probably 30%+ each time !

Trouble is, sod’s law is waiting for the day you sell and then watch the price permanently jump to a new level.

[colliera] 20/3/2024 16:30

Agree eagle eye. Wish I'd been a trader rather than a holder for the last decade though, there has been a nice little turn to be had after each contract in recent years.