Srt Marine Systems Share Discussion Threads

[countryman5] 17/10/2018 20:42

I have had a quiet day today and have been researching Raymarine, one of SRT's main OEM outlets. Raymarine as a UK company went bust about 10 years ago and the brand was taken on by a US listed company called Flir. Interestingly they have just issued a press release about supplying 2000 AIS transceivers to the US Coastguard. I am assuming that this was one of the OEM large contracts that Simon alluded to in his recent webcast.

WILSONVILLE, Ore., October 16, 2018 – FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded a contract from the United States (U.S.) Department of Homeland Security (DHS) in support of the U.S. Coast Guard’s (USCG) Second Generation Automatic Identification System (AIS-2) program. The indefinite delivery indefinite quantity (IDIQ) contract has a ceiling value of $9.9 million to provide second generation Automatic Identification System (AIS) transponders, associated peripherals, and spare parts for nearly 1,774 boats and 282 cutters in the USCG’s active fleet.

The government anticipates the purchase of vessel class-specific kits and spare parts to equip all USCG vessels with AIS-2 over the next five years.

“We are pleased to provide AIS hardware and software technology to support the US Coast Guard’s mission,” said Jim Cannon, President and CEO at FLIR. “Our technology will provide enhanced levels of secure communication and coordination between Coast Guard boats, cutters, and shore stations. This award further extends our technology partnership with the Coast Guard, providing next-generation communication capabilities to complement their Raymarine SINS-2 navigation systems.”

The contract will be managed and executed by the FLIR Commercial Business Unit in the Nashua, New Hampshire facility.

Obviously this is significant OEM sales but the bigger picture is that SRT kit is perceived as being the best and when all the US police boats need AIS kit, hopefully Raymarine / SRT will be the supplier.

The US has been a very slow market but the potential is not to be under estimated.

I have this feeling that at last SRT are on a roll.

[lavalmy] 17/10/2018 18:38

No fish, as yet

[lavalmy] 15/10/2018 08:14

Indeed C5. It would seem that progress might be expected this quarter or next. The PM's decision envisages all offshore fishing vessels equipped with VMS or planned to be so by 2020.

[countryman5] 14/10/2018 21:30

I see that there was a photo on the SRT gallery of Mr T meeting the Vietnamese fishery minister in December 2015. This highlights the amount of engagement that takes lace to sell the SRT concept. The following is from the VASEP website (Vietnamese seafood industry):-

'Hung continued by saying that the warning from the European Union creates pressure for Vietnam to improve its fishery sector.

All the nine recommendations made by the EC are significant to the sector, he said, adding that the recommendations were put into the Law on Fisheries which will become effective in January 2019.

The Prime Minister also signed Decision No.78 approving a national action plan on preventing, reducing and eliminating IUU from now to 2025.

For long-term measures, Hung stressed the need to tighten management over fishing vessels, especially those operating offshore, review the development plan for the domestic fishing fleet in alignment with the seafood reserves, and intensify the enforcement of seafood origin and fishing diary declarations in line with regional and international regulations.

In September 2017, the European Commission issued a yellow card warning Vietnam for failing to progress in fighting IUU fishing.

After April 23, the EU will assess Vietnam’s efforts to fight IUU fishing. The "yellow card" is followed by a "green card" if the problem is resolved or a "red card" if it isn’t. A “red card” can lead to a trade ban on fishery products.

VNA

[lavalmy] 14/10/2018 13:51

An excellent summary of the Vietnam situation here:



' For the deal to be signed and become effective, Vietnam must prove its ability to fulfill high standards included such as sustainable development, the revision of the labor code, animal and plant quarantine, food safety and hygiene, and illegal, unreported and unregulated (IUU) fishing, for which Vietnam has got a yellow card by the EU and hence needs to fight before the deal signing.'

[countryman5] 14/10/2018 10:14

Lav. Another good piece of research. Anybody taking a shine to SRT At this late stage, as impending major contracts become apparent, will struggle to acquire a substantial stake. Many of the shares are tightly held

[lavalmy] 14/10/2018 07:37

Yet more re Vietnam:



Apparently, there is a road map for the EU Vietnam trade deal which foresees the Commission getting the approval of the Council (being the heads of state) to sign the deal in time for approval by the EU parliament after the EU elections in May next year. My working assumption is that no deal can be signed if the yellow card is still outstanding and that in turn would require concrete action on the Prime Minister's plan to overhaul the fisheies sector, as discussed here previously.

[yump] 13/10/2018 18:49

I'm getting confused, or have I not understood the nature of SRT's business ?

Can someone explain how irons in the fire can turn into jam please.

[pinkfoot2] 13/10/2018 18:34

We shall see on cake Accounts-a £40m turnaround in cash and halving profitability takes some doing.Astonishing actually-but it looks like lack of cash brought the issues to light.

Anyway,SRT now well funded after the last raise and directors seem confident enough.

[pinkfoot2] 13/10/2018 17:53

It’s a pity investors don’t read Accounts closely enough-look at this week’s cake events though not suggesting SRT is the same at all.

SRT need turnover that is backed up with hard cash-or they will need to raise more again.For example,it looks like the 2017 contract still has to generate any cash per the auditor note on receivables.Directors must be confident on recovery however.

It’s right to look forward of course but I wouldn’t be recognising material revenue without material cash paid on signing the contract.It sets a tone which can lead to disappointment as recent events confirm.

Anyway,the future looks bright with or without jam!

[goodapple] 13/10/2018 17:51

Just waiting for the share price to wake up.

[owenski] 13/10/2018 17:37

'Looking to have projects running on three continents'.... Believe that's happening in this coming half year. Looking like SRT starting to work out at last.

[countryman5] 13/10/2018 16:39

Lav. And very interesting irons they are too!!!

[lavalmy] 13/10/2018 16:10

Totally irrelevant both that the accounts are filed and that they are not pretty. We know they weren't. We all have copies and have had for a while.

What is relevant is that the share price is back roughly to where it was prior to the annoucement of the drastically reduced outcome and yet there is no real market knowledge that the contract in question is about to be re-awarded. When that is announced, the last 6-8 months will seem just like a bad dream. And then there are all the other irons in the fire.

[pinkfoot2] 13/10/2018 13:08

2018 Accounts are now filed-not pretty.More jam needed-lots of it

[philburt] 12/10/2018 10:20

I missed out on the jam pot collector’s item, but hope that holding a fair few shares will, in time, be reward enough! Lol

[yumyum] 12/10/2018 10:16

I am jealous.

[yump] 12/10/2018 10:15

I thought I saw my jam pot move last night as I went past the shelf, which was worrying until I read a few of the posts this morning; at least mine didn't speak.

It seems the stresses of being an SRT shareholder are taking their toll ;-)

[eagle eye] 12/10/2018 10:07

The jam has no date on it because it's not meant for consumption.
It's an item to portray the commitment of 'I was there before SRT was famous'.
In the future an unopened pot could well command a huge sum on ebay.
Opening it would be sacrilegious,and I'm surprised anyone would ever suggest consuming it.

[goodapple] 12/10/2018 09:55

My wife has remarked that there is no Best Before label on my special jar of jam, and she always looks a little baffled when I tell her the best is yet to come.

[countryman5] 12/10/2018 09:49

Owenski.
I like your humour. My wife thinks that I am also odd. Then perhaps most wives think that their better halves are odd.

[owenski] 12/10/2018 09:38

The jam pot spoke to me when I walked past it last night, perched as it is on top of the fridge, occupying a commanding vantage point of the kitchen, it demanded to be opened and spread on toast. Soon I said to it, soon my precious, and lovingly polished the dust from its lid. My wife thinks I'm odd, I talk to jam pots.


Looks like with Philo now in play plus the other opportunities - ref webcast - we should have some good news flow over the coming months. From the time when SRT bought Geovs to today has been about 4 years, and the company has morphed into a national systems provider, not a bad achievement. Been a wait, but in the scheme of things, 4 years isn't that long considering the work that goes into these contracts, just frustrating at times for holders on the outside of the company. Hey ho.

[cliffpeat] 12/10/2018 09:30

C5

What is the total value of SRT sales to UK government agencies and companies over all these past years?

I am not sure that UK plc has given all that much commercial support to "our" enterprising company (other, perhaps, than R&D tax credits).

It would be a very sad day if Rees Mogg used them as part of his conspiracy campaign (IMO).

I endorse FredFishcake comments too - thanks to all those who continue to post such useful and informed contributions.

[goodapple] 12/10/2018 09:26

Yes, a great photo opportunity for Mr Rees Mogg in front of SRT display.I assume he has paid a visit to the premises before today since it's in his constituency. Certainly the award of contract for the world's largest VMS would be good for his local (and national) political profile.