adrian77
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Post by adrian77 on Jan 20, 2018 16:34:39 GMT
interesting the range of knowledge on this forum. What concerns me (as a non-engineer)
is whether these engines with this fuel are going to run flat out (not even stopping during refuelling) for over 22,000 miles. To get an engine to do this would be an amazing technical feat and I wish this team well but to me considering this boat is not even built yet the timescale to race later this year strike me as a tad optimistic. Interesting one to watch - I really hope they pull it off and I hope all FS investors get their money back...
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rogerthat
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Post by rogerthat on Jan 20, 2018 23:38:04 GMT
14% and a free boat ride, what's not to like! Whats not to like ?...I think in certain countries 'a free boat ride' is a slightly different terminology to the one you're thinking of 
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rogerthat
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Post by rogerthat on Jan 20, 2018 23:54:16 GMT
On the other hand I have had a nibble at the 52ft Sports Cruiser Renewal offer. The valuation seems OK to me at £150K. This looks a very comfortable, high quality and reliable boat to me and would be very derisable to own. If I had the money, which sadly I haven't, would I buy a luxury sports cruiser for £150K or this boat for "£1.75m" - answers on a digital postcard... Saturday 1320 hrs : Sports cruiser 87% filled This boat 49% filled QED I also had a nibble on the Cruiser ..I thought the valuation (despite its stated limitations ) by Vlad was very interesting and thorough. Fairline boats are also not very far from me and have always had a good reputation. I see the loan has filled some time ago but in fairness the Endurance Boat is more than 9 times the required loan amount. However I was delighted to get my 4 figures back without having to wait for the EB to fill and bank a healthy slice of tax free squid 
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mikes1531
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Post by mikes1531 on Jan 21, 2018 4:51:39 GMT
43% filled! It appears I underestimated peoples appetite for risk. I think if anything was underestimated, it was the power of the thought of a 14% return to blind punters to the risks. It's 52% funded now. The renewal of the loan on the collection of NI properties was a bit smaller than this loan (£725k vs. £938k) and took about four weeks to become fully funded. Will this loan take longer than that? Or will the 14% work its magic? To add another personal insight... In the early days of North Sea development -- late 1970's -- I was working for an oil company. They were concerned about the cost of transporting workers offshore, so they thought about using a good-sized ship with a helideck to do the job. I was on one of the sea trials of the operation. When we got out to the destination platform, it was quite a challenge getting the helicopter to and from the ship to shuttle the workers. (I was offered a visit to the platform, but they weren't sure they'd be able to get me back to the ship, so I declined.) And, IIRC, the sea wasn't particularly rough that day. I don't know if there were any more trials, but they certainly gave up on the idea of transfers by sea. I must admit that I did enjoy the idea that this endurance boat could be used for this purpose -- it was worth it for the entertainment value!
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rambler
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Post by rambler on Jan 21, 2018 18:49:44 GMT
Still at 52% so new funding seems to have dried up.
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mikes1531
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Post by mikes1531 on Jan 21, 2018 19:00:25 GMT
Still at 52% so new funding seems to have dried up. Sunday never has been a day for much activity. A better indicator will be what happens in the coming week.
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greenslime
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Post by greenslime on Jan 24, 2018 7:02:00 GMT
What kind of rubbish are FS serving up now? to even consider putting this comment in a loan description tells me how gullible they are & shows how they will believe anything a borrower tells them "interest from the oil and gas industry for crew transfer to and from rigs in the North Sea" would the borrower care to tell us which company?................................no thought not as no such company exists except in cloud FS land I have been in the offshore game now for over 35 years & I can categorically state that no Oil Company would ever, ever consider using this toy as a means to transport crewmen to a Rig or Platform 1: The work force would quite rightly never get into this boat & 2: How would the guys get transferred to the Rig from this toy? It is a difficult enough operation when using a 200+ft Supply Boat with a clear deck, so to try & use this thing bobbing about in a 10ft swell is a big no no FS really need to get a grip Following on from the line you quote We have discussed this with the Technical Director of ****** *********, a company that specialises in servicing marine engines. ********** have been particularly impressed with the design and build of the boat and believe a realistic price of the finished boat would be around £2.2m.I note that this is not actually an explicit endorsement of the concept of using this thing as a service boat in the North Sea - which I agree with you is laughable.
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Post by Deleted on Jan 24, 2018 8:56:40 GMT
"This looks a very comfortable, high quality and reliable boat to me and would be very derisable to own" in ref to the 52 footer. It ain't.  Under the water it is badly designed and lacks the stability that a long keel would give it (made it a bit cheaper to build and was a fashion of the times), so it needs the enclosed cockpit to keep the crew dry and the cockpit base is elevated to deal with stern sinkage under power, as a result the crew are held too far above the centre of buoyance so you really sway about. I'd not go out in it above a force 4 in the open sea. More a flat water motor boat with a mast. |
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ozboy
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Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Jan 24, 2018 14:26:18 GMT
I like you bobo, you're one informed guy, on a variety of subjects, and you share.
Many of us really appreciate your comments, please keep 'em comin'!! (Thumbs up emoticon here )
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madpierre
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Post by madpierre on Jan 24, 2018 15:07:25 GMT
I like you bobo, you're one informed guy, on a variety of subjects, and you share. Many of us really appreciate your comments, please keep 'em comin'!! (Thumbs up emoticon here ) And whoever said the boat was "derisable" to own was spot on 
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Post by wavydavy on Jan 31, 2018 21:46:00 GMT
"This looks a very comfortable, high quality and reliable boat to me and would be very derisable to own" in ref to the 52 footer. It ain't. Under the water it is badly designed and lacks the stability that a long keel would give it (made it a bit cheaper to build and was a fashion of the times), so it needs the enclosed cockpit to keep the crew dry and the cockpit base is elevated to deal with stern sinkage under power, as a result the crew are held too far above the centre of buoyance so you really sway about. I'd not go out in it above a force 4 in the open sea. More a flat water motor boat with a mast. You're showing a real lack of understanding of boats with those statements. There's no planing motorboat in the land (or sea) that has a keel, "long" or otherwise. It's not a cost cutting measure, but a hull design and performance measure. "Enclosed cockpit to keep the crew dry and the cockpit base is elevated to deal with stern sinkage under power, as a result the crew are held too far above the centre of buoyance so you really sway about" - again you're not talking sense. Those Fairlines have an Olesinksi designed hull with excellent sea-keeping - a force 4 with wind against tide is no problem for a boat like that. She'll take a big sea. "flat water motor boat with a mast" - now I get it - you're talking about a different boat. Who has a planing boat with a mast???
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Post by wavydavy on Jan 31, 2018 21:47:11 GMT
I like you bobo, you're one informed guy, on a variety of subjects, and you share. Many of us really appreciate your comments, please keep 'em comin'!! (Thumbs up emoticon here ) And whoever said the boat was "derisable" to own was spot on If informed == ill-informed then I agree. That was a load of nonsense he just typed.
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Post by Deleted on Feb 1, 2018 7:44:22 GMT
"Ref the 52 footer". Not the Endurance boat, I can understand your confusion I was responding to an earlier point a contributer made about a different boat, sometimes these long threads get a bit silly and confusing. But you are right and I am right. By the way welcome to P2P forum. |
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r00lish67
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Post by r00lish67 on Feb 1, 2018 9:11:26 GMT
I wrote a largely waffly post, now deleted, which I realised boils down to this. The asset value of this loan for us investors is solely derived by what a sponsor is willing to pay. This project has been going for years and years, and does not have a sponsor currently secured.
If a sponsor wanted to commit themselves with a formal undertaking subject to the boat being built with FS funding, then it'd be a different matter. But they haven't. So, as far as we know, we're funding the completion of a boat with no real financial value despite what they say it's currently and will be worth.
I wish the team well, and there's more to life than money. But they should be being funded by their to-be benefactors, or bridged by us to their to-be benefactors, not by us with the hope of finding benefactors.
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adrian77
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Post by adrian77 on Feb 1, 2018 9:27:44 GMT
exactly
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