adrian77
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Post by adrian77 on Oct 11, 2018 15:37:22 GMT
I think the above is correct - my guess is that this one will eventually fill but I think it will be very close. I note several 5 figure investments including one just under £30K. Other loans have crawled to the finish line so I hope for the current investors that this one does as well.
Not sure how much cash will be left if this one fills as part of it will go to repay interest.
Interesting one to follow....
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ashtondav
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Post by ashtondav on Oct 11, 2018 15:56:47 GMT
It’s certainly tested my endurance!
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greenslime
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Post by greenslime on Oct 12, 2018 12:52:59 GMT
I note the escape plan is still to flog this as a crew transfer boat for North Sea rigs, and it is 'understood' (a wonderful weasel word) that there has been interest from the offshore industry. Not a naval architect, but I would have thought that a vessel optimised for trans-oceanic speed might lack some characteristics that were more desirable for the role.
I also note the valuation of £2M in the opinion of a marine engineer still features. My brother has been partner in a marine engineering company for a few decades. If he told me that No.3 cylinder head was totally ****ed (a technical term) I would believe him implicitly, I would also believe his estimate of the cost of repairs or, in worst case, a new engine. But I wouldn't necessarily attach the same weight to his opinion of the value of the whole boat.
Still, God bless her and all who invest in her ….
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adrian77
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Post by adrian77 on Oct 13, 2018 19:08:08 GMT
This is crazy - we have had statements from highly qualified experts in this field stating this is a complete non-starter on Health and Safety grounds. If you can't sleep just google this subject and see the vast amount of (justified) legislation in this area...
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adrian77
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Post by adrian77 on Oct 22, 2018 10:35:24 GMT
This one was 17% filled on the 8th and today (22nd) is it 25% filled so that is 8% over the last 14 days or well under 1.0% per day. So much for my prediction it would soon fill! At this rate it will need about 100 days - guess it might just crawl over the line unless some BHs pile in...hope this boat goes faster when going around the globe!
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Oct 25, 2018 17:58:44 GMT
This one was 17% filled on the 8th and today (22nd) is it 25% filled so that is 8% over the last 14 days or well under 1.0% per day. So much for my prediction it would soon fill! At this rate it will need about 100 days - guess it might just crawl over the line unless some BHs pile in...hope this boat goes faster when going around the globe! Let us all hope the Engines have a bit more get up and go than the funding of this loan or it won’t be so much a round the world race as a slow trip round the harbour and a fish supper and a bottle on stout 
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Imothep
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Post by Imothep on Oct 25, 2018 18:51:18 GMT
I note the escape plan is still to flog this as a crew transfer boat for North Sea rigs, and it is 'understood' (a wonderful weasel word) that there has been interest from the offshore industry. Not a naval architect, but I would have thought that a vessel optimised for trans-oceanic speed might lack some characteristics that were more desirable for the role. I also note the valuation of £2M in the opinion of a marine engineer still features. My brother has been partner in a marine engineering company for a few decades. If he told me that No.3 cylinder head was totally ****ed (a technical term) I would believe him implicitly, I would also believe his estimate of the cost of repairs or, in worst case, a new engine. But I wouldn't necessarily attach the same weight to his opinion of the value of the whole boat. Still, God bless her and all who invest in her …. bahaha, i’m a developer 50% of my time & the other 50% is spent working offshore in the North Sea in a fairly senior marine role , and i can tell you that this being marketable as a crew boat is absolute horseshit ... for many reasons but it is 1,000,000 percent horse  . in fact it’s an absolute impossibility ... the end
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kielbasa
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Post by kielbasa on Oct 26, 2018 6:59:11 GMT
Weren't we told that the Powerboat(s) had some firm interest from the offshore drilling industry as well?
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adrian77
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Post by adrian77 on Oct 26, 2018 7:25:30 GMT
FS have told us this boat could be used for crew transfer yet numerous people who know this industry say this is complete codswallop. This is a highly specialised (and still not finished) boat which is basically a socking big fuel tank on steroids. I don't think FS are doing themselves any favours by a) treating we investors as complete idiots and b) spinning "alternative facts" of which they clearly have zero technical knowledge c) throwing a great deal of (our) money into a proposition which seems problematic at best
This one has rocketed from 25% filled on Monday to 26% today (Friday) so at this rate it is not looking good is it!
Thus can I pose a question for people who know the boat industry - just what is this thing worth on the open market - in fact has she got any value at all? Not sure how many people would want to buy an untrialled and unproven boat.
If we can't trust the FS comments on this loan then how can we trust them with other loan comments?
I think this applicant also has the rapidly aging speedboat which again I wonder if that boat anywhere near the FS valuation - my wild guess would be 10-25% of valuation but I know nothing about this market.
Unless some miracle is pulled out of the bag I can foresee this one being the mother of all FS disasters which is no mean feat!
I hope I am wrong but if were in this boat loan I would throw myself overboard!
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Imothep
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Post by Imothep on Oct 26, 2018 11:41:41 GMT
Weren't we told that the Powerboat(s) had some firm interest from the offshore drilling industry as well? not from the off shore drilling industry I work in ( unless there is another one ) ... crew transfers from crew boats to ships are considered to be very dangerous and hard to risk assess (generally africa only ) , there are severe HS and weather limititations , to off shore installations it can really only be done with heave compensating gangways ( 1M plus and huge ) and generally the crew boat ( normally a construction vessel as these are big bits of kit ) would have dynamic positioning ( holds postion automatically at a given reference point ) ... i would suggest the best market for a quick sale would be the bahamas where i’m sure it would be very proficient at fast cargo ops into the US as a go fast boat as they are known  
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jonno
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nil satis nisi optimum
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Post by jonno on Oct 26, 2018 12:04:50 GMT
Weren't we told that the Powerboat(s) had some firm interest from the offshore drilling industry as well? not from the off shore drilling industry I work in ( unless there is another one ) ... crew transfers from crew boats to ships are considered to be very dangerous and hard to risk assess (generally africa only ) , there are severe HS and weather limititations , to off shore installations it can really only be done with heave compensating gangways ( 1M plus and huge ) and generally the crew boat ( normally a construction vessel as these are big bits of kit ) would have dynamic positioning ( holds postion automatically at a given reference point ) ... i would suggest the best market for a quick sale would be the bahamas where i’m sure it would be very proficient at fast cargo ops into the US as a go fast boat as they are known There may be some South American "agri/pharma" outfits who may be in the market for a "go fast"boat 
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adrian77
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Post by adrian77 on Oct 29, 2018 16:37:01 GMT
I am sure there are but the UK government authorities have a database of all such boats and checks who actually buys them - can't possibly imagine why!
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kielbasa
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Post by kielbasa on Nov 10, 2018 0:20:09 GMT
I have a doubt it will fill this time round. Luckily I've sold my part about 4 months ago, but feel sorry for those who are still in this loan. 32 days and only 30% filled. I think df might be right.
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rs
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Post by rs on Nov 10, 2018 6:23:50 GMT
32 days and only 30% filled. I think df might be right. I’m not in this loan but am I correct in assuming the lenders in this loan have not received their capital and interest as the loan hasn’t renewed yet? Also the new lenders in the new I filled loan are accruing interest at the same time. If the new loan does not fill then I’d assume the new lenders would get their capital and interest but old loan investors would not get their capital and interest?
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09dolphin
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Post by 09dolphin on Nov 10, 2018 9:18:51 GMT
I'd have thought the circumnavigation attempt would have been completed by now - after all it was supposed to start in both Spring and Autumn last year.
This seems like some of other boat loans from FS that promised much and deliver nothing.
Can't say I'm surprised the renewal is only 30% filled. What does surprise me is that anyone has committed any money at all to this loan - altruism obviously.
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. in fact it’s an absolute impossibility ... the end 
