Srt Marine Systems Share Discussion Threads

[eagle eye] 16/7/2018 16:44

LaVal,
Good spot.
A lot of detail in the 10 page document on how the system will operate.

There are stiff penalties for non-compliance (Section 26), plus unauthorized disclosure of sensitive information (Section 27) has pretty dire consequences:

'unauthorized disclosure of VMM data by any person shall be penalized with
imprisonment of six (6) months and one day to six (6) years, removal from office
and forfeiture of all retirement benefits, where applicable.

[hjb1] 16/7/2018 15:45

I certainly hope they can sign off soon too.This week will be good, suppose it's too much to ask though eh?

[lavalmy] 16/7/2018 15:16

From what I can see, the BFAR in the Philippines has just published the first draft of their rules on VMS and electronic catch reports as well as a separate set of rules on the observer programme. Their website has been down for a couple of weeks, but I suspect that these have been published today. Whilst the VMS theoretically allows different modalities and equipment to be used, in practice this is a red-herring (as discussed a few months back). (EDIT: for those who don't know, the PHILO 2 project is the VMS/catch reporting system)

The importance of these draft rules being published is, I think, that all the paperwork for the Philo 2 project has been completed and that it is likely that SRT and the BFAR will be signing the formal contract soon - SRT will be keen to have it done before the accounts are finalised, so quite possibly they will be pushing for this week.

[hjb1] 16/7/2018 13:17

any surprises expected next week in the final results? I notice a few selling lately, maybe they expect something not nice to come?

[zipstuck] 13/7/2018 09:27

The agreement with the Jap manufacturer could lead to takeover interest imo

[zipstuck] 12/7/2018 16:03

get the feeling that someone is mopping up any sold stock.

[countryman5] 11/7/2018 20:36

somebody clearing up stock at 31.5?

[philburt] 11/7/2018 13:02

C5 - Sounds promising...

[countryman5] 11/7/2018 11:32

Front page of today's Philippines Inquirer article on fishing and Duerte backs large budget for fishing infrastructure

[yump] 09/7/2018 14:42

For anyone who thinks Shrimp is just a minor issue, its one of the most versatile bases for a dish:

[lavalmy] 09/7/2018 14:17

A bit more on Vietnam:

'Last October, the European Commission (EC) issued a "yellow card" warning to Vietnam, after the country failed to demonstrate sufficient progress in the fight against illegal, unreported and unregulated (IUU) fishing worldwide. This has been seen as an action that may affect the ratification of EVFTA.

Co-chairman of EuroCham Nicolas Audier affirmed that the ratification of the EVFTA as a whole will be put in question due to this yellow card. However, he said that European institutions and Member States are monitoring Vietnam’s efforts in modernizing its legal framework and enforcement thereof.'

So there is a clear link between the free trade agreement and the yellow card, and any hold-up in ratification means a delay in the introduction of lower tariffs for Vietnamese exports to the EU (trade is hugely in favour of Vietnam, so lower tariffs will benefit Vietnamese exporters and/or Eu consumers).

When it comes to shrimp, the bonanza will be huge. Vietnam exports about $800 million (and growing) of mainly raw or processed shrimp. The import duties for the former will fall from 12.5% to 0% as soon as the agreement comes into effect, for the latter from 20% to 0% seven years after. Their main competition is, incidentally, Ecuador who are already on the lower tariffs.

If half of the exports are raw, the reduced tariffs would equal $50 million p.a. at current import rates - how that would be split between producers and consumers is anyone's guess. That explains quite easily why VASEP (the exporters group) is keen to have the yellow card removed and puts into context the relative cost of implementing a proper VMS versus the immediate potential gains. Not to mention the other sectors which would benefit from the free trade agreement.

[countryman5] 06/7/2018 18:48

LAV. Your Saigon research was v good. Clearly Vietnam is going to happen, with SRT In with a good chance. I believe that this was in last agm presentation at about 35 million.??? Looks like this autumn.these contracts always seem to take several moons to arrive. Gallery and snippets would suggest the following might be on the near agenda:- Indonesia Quenective (currently on hold), Indonesia fishing, Bahrain, Kuwait, Saudi, Philippines. Vietnam and Thailand. Clearly the market does not believe that the VSP is credible. I get the impression that the UK gov is now supportive of SRT with export guarantees. This should make a huge difference for cash flow. I guesstimate that nearly 50% of shares are held by a small number of people. If an institution wants to take a 5% stake they will need to be patient and also bid up.

[lavalmy] 06/7/2018 11:33

And the private sector, who do most of the actual exporting, are right behind it.

'Nguyen Hoai Nam, Vice Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said more than 60 businesses are committed to eliminating IUU fishing by buying seafood only from legal ships with clear origins. He said: "The Association’s businesses expect stronger measures from local authorities. We need to implement the Fisheries Law and the Prime Minister’s resolutions, decisions, and instructions to prepare for the EC’s inspection trip to Vietnam next year."

[lavalmy] 06/7/2018 07:10

The Saigon Times has an interesting article:



'A detailed roadmap should be prepared to install monitoring systems on fishing boats measuring 15 meters and longer and satellite-positioning devices on boats that are at least 24 meters long, while ensuring compliance with requirements on the operation of these devices when the fisheries law comes into effect early next year.'

The Vietnamese are taking the yellow card seriously, and I would expect that if they are going the AIS ground station/satellite add-on route with SRT, then conclusions and contracts on this will be decided in the coming months. All indications from the PM's circular in January suggest that this is the route that they have already decided on.

[fredfishcake] 05/7/2018 11:40

Interesting now you come to mention it that it doesn't specifically mention AIS. I wonder if it's the GEOVS analysis of radar and any other tracking methods available that they're after at this stage? Obviously you could exclude local vessels if you could identify them via AIS in future.....

[boadicea] 05/7/2018 11:10

2vdm - I think the "foreign vessels" are probably an order of magnitude larger than the local fleet - possibly factory ships.

[2vdm] 05/7/2018 08:28

...or was it pots of jam?

[fredfishcake] 05/7/2018 08:14

At least we see a spike up on this news. As hjb1 says, shame there's no indication of scale, but let's hope this is the first of the fleet of buses!

[2vdm] 05/7/2018 07:52

Can someone explain please? The RNS states : "The agreement requires SRT to supply and install its GeoVS display and analytics system in Ecuador and a feed of customised satellite monitoring data over a three-year period for the specific purpose of detecting illegal fishing activities by foreign vessels in and around Ecuador EE".

It then goes on to say: "We look forward to developing this relationship further in the future which may include expansion to include coverage of the local fishing fleet."

How do you stop illegal fishing without covering your own fleet with some form of AIS transponder, or have I misunderstood?

[countryman5] 05/7/2018 07:22

Bahrain provides the reference point and example for other countries in the Middle East. Ecuador will do the same for South America. Years of roll out to come. Well done to the SRT team. I understand that Jacob Rees-Mogg is the MP for MSN. Perhaps he will highlight that there are UK companies that export around the world.

[hjb1] 05/7/2018 07:21

decent news to start the day, would have liked to get some figures and timescale with it though!

[extrader] 03/7/2018 17:17

Hi EC,

May be that SRT just want a bigger time window in which to allow a contract or two to be RNS-able...?

ATB