Srt Marine Systems Share Discussion Threads

[hjb1] 14/1/2021 12:18

''order book for £550'',ha ha! you've heard about the vsp too then?

[countryman5] 14/1/2021 11:31

I have been a supporter of this company for several years. I know nothing about boats. I was introduced to the company via my stockbroker. I liked the management and I thought that the product had great potential. Investing is always a gamble but I believe the path that the company has trod has been very fortuitous. The purchase of Geovs was the foundation of the 'Systems' business. I recognise that Mr T regards the company as his own. This shows a commitment but I have always found him accommodating to his fellow shareholders. I don't know of any other company where the CEO opens up to questions on a regular basis. There are many start out companies that are losing vast amounts of money each year but nevertheless have fancy valuations based on the assumption of future growth. This company started with creating the hardware of AIS modules. It has grown Emtrak as its own brand and developed ATON and is now developing a completely new device which will come onto the market in a few months time. They appear to have acquired some very clever 'boffins' which keep developing new technology. This side of the business, including OEM sales to the likes of Raymarine (currently supplying the US coastguard)provides annual revenues that underpins the company overheads. Sales are growing about 15% PA with margins of nearly 50%.
The purchase of the Geovs system provided the platform to bolt on layers and layers of software that gives the company the 'economic moat' for the 'systems' business. This business has the potential to provide enormous revenues with generous margins. The starting point was Bahrain. I suspect that it was the personality of Mr T that persuaded Bahrain to be the first Country to gamble on the SRT system. It was a gamble for Bahrain to buy this system. However, it appears very proud of its purchase and has become the shop window for the SRT system. It appears that all of its neighbours, Saudi, Kuwait etc are going to buy the SRT system and then share information. I don't think the market has woken up to this.
The other major triumph for Mr T was persuading the philippines fisheries (BFAR) to buy the SRT system. The first SRT system is currently being installed / commissioned and there is huge potential for follow on contracts, not only with the Philippines but also their neighbours. The driver for the fish monitoring systems is the EU. The EU buys a lot of fish from SE Asia and does not like illegal and unregulated (IUU) fishing. A red card means no exports, hence the need for the SRT system. SRT claims that it has the potential order book for £550 million. Some of these are near term opportunities and some more distant!!
Why should countries chose the SRT system?
Basically the answer is cost and reliability.
The SRT system primarily uses AIS and land based transmitters. Other competitors rely on expensive satellite systems, including iridium. The clever Geovs system collates various information feeds, such as radar, satellite and CCTV. It then 'slices and dices' the information and issues alerts to the operator if something appears illegal. The Geovs system is constantly being upgraded and now includes fish catch reporting.
My wife suggests that I have 'rose coloured' spectacles with regard to SRT.
I genuinely believe that we are on the cusp of an enormous break through with imminent announcements. I am well aware of the 'jam tomorrow' comment and recognise that PI's have been waiting a long time

[lavalmy] 13/1/2021 08:34

The Qataris have patched up their differences with the neighbours, to an extent in any case. There was a project on the boil down there prior to the big bust-up which was put on the backburner. Maybe that will come back?

[countryman5] 12/1/2021 18:31

Bahrain’s Parliament to take action against Qatar over fishing boat incident

By
Menatalla Ibrahim
-

December 14, 2020
Perhaps it is time for Bahrain to upgrade its monitoring system.

[pinkfoot2] 10/1/2021 14:32

The big question is ‘when’

If the question is ‘if’ then you shouldn’t be in this stock

[yump] 10/1/2021 13:23

Well I believe the problems that have been detailed, of negotiating contracts of this sort, complexity and size overseas. They really can't be forced.

That doesn't mean they will happen, but there is integrity in the reasons I think, which is more than can be said for some businesses selling a simple product, where they can't even get a foothold in the UK, so they sign up lots of 'partnerships' overseas.

[roycecooledge] 10/1/2021 13:20

The difference being the tech is proven and ready to go. Some tech promises are still on the drawing board

[pugugly] 10/1/2021 13:15

Currently still feels like a "sucker stock" All promises but continually fails to deliver - As for pipeline - equivalent to the man who claims to be developing a more efficient lower cost and higher density battery with a demand pipline of mega billions - Just needs an investment of $100,000,000 to navigate the few months until contracts are signed.

[extrader] 10/1/2021 12:10

Hi Countryman5,

You won't be able to sell that business an anti-collision device ..."

;->
ATB

[countryman5] 10/1/2021 11:55

Warren Buffet quote:-
“The most important thing [is] trying to find a business with a wide and long-lasting moat around it …

[yump] 10/1/2021 10:39

Well there is no doubt that the market has a following wind. Srt just has to get out of the calm water.

The only consolation for lack of tangible contract progress for me is that I’ve seen a lot of businesses that take years to get going in relatively new markets after initial investor enthusiasm and then it all takes off.

Imo main thing is the expanding potential market and a killer product. Without those nothing spectacular can happen.

SRT has both.

The rest is down to competition and management, assuming the business is actually viable.

[countryman5] 10/1/2021 10:21

Vietnam urged to do more to eliminate IUU fishing by local fishermen
By
Toan Dao
November 25, 2020

Vietnam is being urged to act more forcefully to put an end to illegal activity perpetrated by its fishermen in the exclusive economic zones of neighboring countries, according to Vietfish Magazine on 24 November.

Vietnam was first issued a yellow card in October 2017 by the European Commission, which said the Southeast Asian nation had not done enough to eliminate illegal, unreported, and unregulated (IUU) fishing. Since its imposition, the E.U. has been conducting a review of Vietnam’s fisheries- and seafood-related policies to determine which route it will take out of three options available to it: Maintaining the country’s yellow card status; issuing a red card banning all seafood imports from Vietnam; or rescinding the yellow card and resuming normal trading relations. The two sides had two virtual meetings, in June and October this year, to review Vietnam’s progress, according to the magazine.

[countryman5] 10/1/2021 10:11

From the Philippines, where the new SRT system is being installed / commissioned:- In 2020 DA-BFAR filed a total of 793 IUUF related cases; 684 cases of which were resolved.

[countryman5] 10/1/2021 10:08

The Us and EU inland waterways are an enormous market for the SRT 'Environmental Systems'
USCG reminds the importance of accurate AIS data entry
The Inspections and Compliance Directorate reminds the maritime community that accurate AIS data entry and display is essential to safe navigation.
E-NAVIGATION | 15/05/20

A recent collision on the Mississippi River serves as an important reminder that accurate AIS data entry and display is crucial to safe navigation. This is considered an important tool, which provides vessel operators with a clear picture of possible upcoming vessel passing situations.

Regarding this incident, prior to sunrise, two towing vessels were approaching a bend on the Mississippi River. Neither vessel was broadcasting the total length overall of their tow to other AIS users. The first vessel’s AIS broadcast showed its length at 72 feet, but the total length of the ship and its two-barge tow was 672 feet. The second vessel’s AIS broadcast showed the length at 200 feet, but the overall length of the vessel and its 40-barge tow was 1,600 feet.

Without the information regarding the total length of the other vessel and its tow, the operators did not have a full understanding of the pending passing situation. As the ships rounded the bend and completed their turns, they collided, causing the down bound towing vessel to capsize and sink with several fatalities.

[hjb1] 08/1/2021 19:46

Ahh!, the mythical VSP, pmsl!!

[pinkfoot2] 08/1/2021 19:25

Sorry Lav but calling SRT a ‘global technology leader’ with under £4m of t/o in the first half of this year is optimistic.No problem with that but let’s see this VSP convert into real money

[lavalmy] 08/1/2021 17:36

Very unfair comments re C5. He is a long-term holder, convinced of the merits of the company with nothing to gain from ramping the share price.

He has made some extremely valuable contributions to this board, most memorably when he sniffed out the original BFAR invitation to bid. Other posters have made no relevant contributions.

[pinkfoot2] 08/1/2021 16:16

It would be a real challenge to sell this to a PE house given the lumpy and unpredictable revenue and cashflow-and the valuation is high for what is very low historic T/o and profit.The company needs to demonstrate recurring performance-it may be near but it hasn’t happened yet.

Countryman-I’m starting to think some of your recent words of wisdom are thinly disguised ramping-without much substance but plenty of stardust!

[hjb1] 08/1/2021 15:47

fft, yes codswallop indeed!

[fft] 08/1/2021 11:51

C5,. For the last few years you have mentioned how people would like to buy SRT. It hasn't happened, and I don't think that anyone has made any approaches. Do you have *anything* to back up your fantasies ?

[countryman5] 08/1/2021 09:22

Further to the above, PI's should visit company website and view DAS under the products section. This is all part of the turnkey 'Environmental Systems' package that the company recently launched. This is aimed at ports and inland waterways around the world. The immediate markets are the EU and N America. Take up will be initially low but momentum builds when operators see the benefits of the early installations. Another very major leg of this business going forward. I suspect that the company has already been approached by Private Equity teams looking to gobble up this global technology leader. However, this is nearly like a private company where I suspect that Mr T personally knows the major shareholders of approximately half the company.

[goodapple] 08/1/2021 08:52

While we languish in lockdown awaiting news of contracts, some interesting browsing re the AtoN market in which SRT has been active for some years now.
Countryman5 has often referred to the potential for this segment of the business, so he will no doubt be acquainted with this particular customer of SRT.

SEALITE is the global leader in the design and manufacture of marine aids to navigation equipment with manufacturing and office locations in Australia, Singapore, the United Kingdom and the United States, as well as distributors servicing over 100 countries.
Their website - sealite.com - gives a fascinating insight into the scale and complexities of their business. Amongst others they are suppliers to the US Coastguard and Trinity House. They are doubtless the conduit for SRT’s ambitions with these particular end customers.
Sealite incorporate SRT’s transceiver modules into various products as well as stocking the complete AtoN which we would recognise from SRT’s literature.
Anyway, it is well worth signing up for their Newsletter which gives some indication of current market developments.
In particular the recent edition gives notice of an upcoming webinar on the Monitoring and Asset Management of AtoN.
I trawled back and watched Webinar3, presented by a gentleman from US Coastguard which gives a fascinating background to AtoN and the enormous potential that AIS AtoN has for the delivery of information and data.
Well worth a look, and some reassurance that we are just at the beginnings of a long upward curve for this particular segment of SRT’s business.
Countryman5: I’m sure you know this already!

[pinkfoot2] 06/1/2021 19:20

Thanks Yumyum-I suspect being opaque is helpful just now.

[yumyum] 06/1/2021 13:57

Piedro, SRT could not detect such objects. Unless they had AIS transmitter fitted and when surfacing they transmitted. So...no ! Interesting story though. Thank you.

[yumyum] 06/1/2021 10:15

Hi pinkfoot2. All forecasts withdrawn due to covid crisis. Will be reinstated once some of the systems contracts are 'reinstated'. That is my understanding anyway.