Srt Marine Systems Share Discussion Threads

[countryman5] 27/4/2018 19:32

Quarterly live shareholder webcast soon?

[lavalmy] 27/4/2018 16:13

AE

The upload is dated Feb 2017. They often idealize what has actually happened in these marketing blurbs and can get away with it citing confidentiality. ST's reply to Extrader in the header speaks only of two large scale projects actually done, Bahrain and Mexico - for the latter SRT only supplied the Identifiers.

Now that I think about, some plonker on here got excited when that very 'case study' was mentioned on SRT's news section back in February last year. I dismissed both it and him at the time, if memory serves.

So, puff and old puff at that I am afraid.

[alter ego] 27/4/2018 16:03

YUMYUM, I think not. Last year it was a prospect, not a contracted project according to info published at the AGM. Now it is a case study of an implemented project.

[yumyum] 27/4/2018 15:58

alter ego. That looks like an old report you found.

[effortless cool] 27/4/2018 14:36

If anyone is present at Mello for Tucker's presentation today (just now), it would be great if you could let us know if he says anything interesting.

[alter ego] 27/4/2018 14:25

There is a case study on the SRT website about the supply of a VMS system for a South American fishing fleet.


It looks to me to be Ecuador and the more detailed download version says:

"Today the customer is able to reliably monitor its national fishing fleet and enhance its management and efficiency of the local fisheries. Additional functionality and capability is already being planned, which is easily implemented on top of the existing system: thus ensuring the customer has a future-proof system.

I can find no announcement of the signing of a contract here. At the last AGM it was listed as a $21m VMS in the VSP. SRT said that there had been "extensive trials and discussions over the last 18 months".

In the last half year report, no mention was made of South America so I assume the supply of this system is more recent. However the absence of a RNS puzzles me. Even if the value so far was small, surely it is significant news. Can anyone shed light on this?

[goodapple] 27/4/2018 09:01

I guess he would be just in conversation at the SRT stand yesterday ( short reference to this from Paul Scott )

[alter ego] 27/4/2018 08:51

Goodapple, 2.30 according to schedule although he was there yesterday too.

[goodapple] 27/4/2018 08:39

At what time is ST due to make presentation at Mello today?

[lavalmy] 26/4/2018 18:09

"If" I repeated myself, would the reaction be the same?

[2vdm] 26/4/2018 17:38

Thanks La Valmy and glad to see you are back on thread. Clearly there is interest amongst investors at the chance of something being announced looking at today's rise.

[2vdm] 26/4/2018 17:36

How is Samantha anyway, Did the op go well?

[robward] 26/4/2018 15:39

"IF" my Auntie had balls she would be my Uncle, however, the reaction would be the same, simple astonishment

[countryman5] 26/4/2018 13:56

If company achieves t/o of £30 million this year, at 50% margin, this might leave a PBT of £9million. How will market react?

[yumyum] 26/4/2018 09:29

All very positive and full of promise.

I know....

[lavalmy] 26/4/2018 09:18

Plenty of new pictures.

Including:

GeoVS being presented for massive Indonesian smart port program.

[crystball] 26/4/2018 08:04

Thanks LaValmy. Good spot.

[lavalmy] 26/4/2018 07:42

There it goes - just have to wait for an RNS.



I don't think the change of scope is 1.7 billion pesos - that was the amount in the tender document.

[lavalmy] 25/4/2018 08:48

Out of interest, it is not only SRT that thinks the market is growing.

[lavalmy] 24/4/2018 14:17

YumYum

I am sure ST will give out as much detail as he can, though maybe Thursday/Friday rather than tomorrow. It would count as their second biggest ever contract after the delayed Indonesian, as well as having satellite and their VMS Connect system. The Philippines have trained some 600 observers or so who will be going out on boats to log the catches via the smartphones, through the Class B box and onwards to the authorities - a robust yet cheap system. The observers will be paid some $15-20 per day by the boat owners, who will in all likelihood have to fork out for the kit as well. The smaller boats covered by the broader roll-out are expected to pay up, so I imagine that the big boys will have to as well.

The broader roll-out does seem to be well thought through and they seem to be trying to win hearts and minds, including by trying to develop rival systems - note the less than impressive picture at the bottom:



They are now doing a bigger trial of 50 boats:



Here is some hearts and minds propaganda:



Once the 117 base stations are in place in the smaller ports, I can't see much point induplication with non AIS systems - presumably visualisation on the GeoVS monitors would be nigh on impossible for non AIS solutions as well.

I know that it is still in the draft phase and, just as a reality check, the Philo 2 project was agreed and financed in 2015, but this is the first publicly announced roll-out of vessel monitoring on a large scale that I have seen.

[yumyum] 24/4/2018 12:34

Thank you LaValmy. Let's hope it IS not only rubber stamped tomorrow but also that we get some positive detail from SRT.

[lavalmy] 24/4/2018 10:16

Thinking about it, I don't know if SRT's pre-emptive approach to this contract might not be beneficial overall. I think we might assume that the Philippines idea of deliverable milestones may not exactly match SRT's view of the same. However, the kit is already in situ, and who knows, they may have unpacked it and installed it. The point being that they will be that much closer to being paid than if they waited until now. Even if 10% is retained, I would guess that well north of £5 million will be flowing SRT's way by the end of June/beginning of July.

[lavalmy] 24/4/2018 08:57

Mr Tucker might well have to skip the Mello event in favour of the next available flight to Manila.

The Neda Board meets tomorrow;



The Philo 2 project is just for rubber stamping. I assume that SRT have signalled the urgency that the contract has to them both to the BFAR and CLS, so would expect news soon. It will come as a welcome relief to SRT's auditor as well, I imagine.

More seriously, I think the detail will prove interesting. The expanded scope, for one, and the expected impact on cash flow, for another.

More broadly, the Philippines seems to be aiming towards coverage of all fishing boats greater than 3 tons. Draft regulations are here:



The document, which does not yet seem to be in force, envisages all sorts of methods for vessel monitoring, but the system they are putting in is AIS based. I have no idea how a non AIS based system could interoperate, so I conclude that it is more theoretical and future-proofed in case of new technologies. Also, I would imagine that all AIS suppliers will be fighting for a slice of the action. The BFAR does have to certify any rival system and presumably AIS devices as well. The criteria, encryption, tamper-proof etc, would seem to disallow this sort of device:



I would also think that the BFAR would get its system up and running before testing and accrediting anything else.

Excellent news, though.

[davidosh] 23/4/2018 17:03

Just to remind you all that SRT are presenting at the huge Mello2018 investor event at the end of this month so good timing with the trading update just out.

They have presented at a Mello event before and Simon Tucker is scheduled to present on Friday 27th April at 2.30pm. Here is the link if any of you would like to come along and meet them....