Srt Marine Systems Share Discussion Threads

[lavalmy] 27/11/2023 17:48

BTW re the Philippines, this confirms what I mentioned a short while ago about the PCG/AFP.



'The PCG is working with the Armed Forces of the Philippines in finalizing a comprehensive modernization roadmap...'

[lavalmy] 27/11/2023 17:25

CliffPeat

You see the intelligence, risk and compliance professionals is all about the big boats and sanctions etc (e.g ship owners have to be careful about charters, oil producers about who is buying/shipping their production). The global enterprises angle is more where exactEarth hope to compete, how much oil is on its to way to xxx, how much sugar, where is my stuff and when will it get to whereever, that kind of analysis.

SRT cannot sell their data as it is not theirs to sell - one of their major USP's is that it is under the unique control of the customer, as is any analysis performed by the SRT system they have bought.

I don't know about super-profits or indeed any at all. They warned on their outlook two or three weeks after listing which gives an indication of what sort of people they are.

[cliffpeat] 27/11/2023 17:03

Windward Ltd is an Israeli company and listed on the London Stock Exchange WNWD.L

Half year figures:

T/O US$12.8m and operating loss of $5.9m (Which is about the same amount as R&D costs not capitalised)

Accumulated losses $74m

More at



The Dec 21 placing document includes this:

"Background on Windward

Windward was founded in Israel in 2010 by Ami Daniel and Matan Peled, ex-navy officers who identified that although maritime risks pose a major threat to many participants, they had not identified a solution that offered the fusion of multiple data sources and analytics to provide understanding of insights and actionable recommendation to the various stakeholders in the maritime eco-system.

By combining maritime expertise, big data tools, AI and machine learning, the Directors believe that Windward has built a world class, patented Predictive Intelligence Platform that is now powering some the world's leading intelligence, risk and compliance professionals and has also now been applied by blue chip global enterprises. With strong belief in transparent feedback loops, including exchange of both data and insights, the Predictive Intelligence Platform is based on the real-time, market-sourced data, and Windward's customers can benefit from insights tailored to their controls and workflows."

So a fusion of "market-sourced data" but (presumably) SRT is not selling their own sourced data at the moment.

It operates on a SaaS subscription basis - which means recurring income. I guess the medium term attraction is that when (if) they get to break-even point the high marginal benefit of additional subscriptions sold will/might produce "super-profits" in a short time frame.

Just a guess

[lavalmy] 27/11/2023 15:37

YumYum

SRT doesn't compete in their market. Windward take public AIS and analyse the data for sanctions busting etc (large vessels). SRT's stuff takes national AIS data provided and harvested by themselves and fused with whatever other data streams the customer has or will pay for. The result of their analysis is the elimination of the bulk of the targets so that those very few of interest are investigated. SRT do not analyse the high seas AIS signals unless it is their customers' ships nor are they interested in finding out who is shipping oil to where.

I suppose exactEarth might be a competitor to Windward.

Edit: My point about Windward not being in a position to demand upfront payment is precisely that all they can say is that either we will not sell you our service at all (strange for a small company) or we will sell it potentially to your competitor which would be equally daft, as Coast Guards do not have competitors. Hence the upfront payment must be based on a large discount - so they need the cash.

[yumyum] 27/11/2023 15:25

Or simply that Windward's analytics are superior to SRT's. It is what Windward do as a full time job.

[lavalmy] 27/11/2023 15:08

That contract has already been mentioned here. I suspect that Windward discounted the price heavily to get the upfront payment. They don't install any hardware so the contract is for future services for which they note they had international competition. So it makes no commercial sense to pay upfront unless the service is effectively commoditized and heavily discounted. Windward are not in position to say 'sign now and pay upfront or we will ...' without shooting themselves in both feet. So presumably they need the cash.

[scrutable] 27/11/2023 14:36

The following RNS last week, leads one to believe that SRT might be somewhat weak in their megotiating skills. SRT seem always to have to wait tantalisingly long for payment for each segment of their contracts.

RNS Number : 3906U Windward Ltd. 23 November 2023

€3.2m Contract Win with a new European national coastguard customer

Windward (LON: WNWD), the leading Maritime AIcompany, is pleased to announce the signing of a five-year contract with a European national coastguard ("the Customer"). The contract has a total value of €3.2m (c. US$3.5m) which is expected to be paid in full up front, further strengthening the Company's cash position, while the revenue will be recognised over the course of the contract, adding approximately $700k peryear to Windward's Annual Contract Value.

The contract, which was won in a competitive tender against international
competition, will see Windward's maritime AI technology deployed by the
Customer to protect against the increasing sophistication of maritime bad
actors.........

SRT migt do well to get close to Windward for mutual support in the EU and have something to gain by adding Windward/s services once they have signatures to their own package and have closed each new big contract in Asia and the Gulf.

[countryman5] 24/11/2023 21:58

FT 22/11/23. US and Philippines launch joint air and sea patrols in the South China Sea....amid growing tension with Beijing in the disputed waters.Philippine Coastguard contract being discussed?

[supernumerary] 24/11/2023 17:50

The burghers of Esch-sur-Sûre living up to their name :¬)

[pinkfoot2] 24/11/2023 16:10

AIS for land locked states-cracking idea

[supernumerary] 24/11/2023 14:11

LV - yes, they've had various bits and pieces during the year, leading to an share price turnround starting in the middle of the year. They're still two thirds down since listing though, so a long way yet to go.

[extrader] 24/11/2023 13:59

The oak's on me.

;->

[lavalmy] 24/11/2023 13:38

On the ball today, Extrader:)

[extrader] 24/11/2023 13:23

? Surely Luxemburg is land-locked.
Would this be for river navigation? Or for Luxemburg-flagged ships ?

If there's some new requirement that's registry-driven, this could be the first acorn in a new market sub-sector.....

ATB

[lavalmy] 24/11/2023 13:19

Windward do analysis of AIS (publicly available) and other data.

[zingaro] 24/11/2023 13:17

Sorry, but what is the connection of windward with SRT ?

[yumyum] 24/11/2023 13:08

signed and going ahead contract. Cash up front. What a dream !

[lavalmy] 24/11/2023 12:56

Super

Windward just announced a new five year contract with a European coast guard. It sounds like Luxembourg to me, as it is $3.5 million in total. Paid upfront mind you which suggests that cash is tight and they gave them a discount.

[goodapple] 24/11/2023 12:17

The USP of Nexus is its fusion of AIS with VHF radio. This will set it apart from the opposition. My understanding from discussion at the AGM is that Nexus will be exclusive to EmTrak for quite some time i.e. Nexus won't appear under Raymarine etc branding short term.
Correct me if I'm wrong.

[supernumerary] 24/11/2023 12:16

dave - thanks for that. Your link points to some sort of crowd-funding scheme? The home for the company is here:

Really doesn't look like much competition for SRT to me.

EDIT: I see that Windward Maritime has come alive again recently...

[davebowler] 24/11/2023 11:39

Someone else sees potential in the sector.... HtTPs://www.seedrs.com/intelligent-devices-ltd/coming-soon?utm_source=mailchimp&utm_medium=email&utm_campaign=inv_yacht-sentinel_comingsoon&mc_cid=958a5a61c5&mc_eid=3393ee80e1

[pinkfoot2] 21/11/2023 17:31

It seems IC comes to the rescue again-

[extrader] 21/11/2023 15:57

Cryptic!......who/whom?
Surely not the Pres of S Korea?

[lazyj] 21/11/2023 15:19

Spoiler Alert. I'm not usually excited by State Visits.