REG - Harland & Wolff - Contract Win

Harland & Wolff groupAnnouncement

11/04/2022 07:00

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RNS Number : 8797H  Harland & Wolff Group Holdings PLC  11 April 2022

11 April 2022

 

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Contract win from P&O Cruises and Cunard for dry docking two cruise
vessels in Harland & Wolff (Belfast)

 

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company
focused on strategic infrastructure projects and physical asset lifecycle
management, is pleased to announce that its subsidiary, Harland & Wolff
(Belfast) Limited (Harland) has been awarded a dry dock contract for two
cruise ships from P&O Cruises and Cunard respectively that will occupy the
Belfast drydock for 33 days in total. The companies have selected Harland
& Wolff's iconic 81-acre Belfast shipyard to undertake drydocking works on
two of its ships - Aurora and Queen Victoria.

The works due to be undertaken to both ships are standard drydocking
operations that will give Harland & Wolff the opportunity to demonstrate
to the wider cruise industry, its skills, capabilities and expertise in these
types of projects.

The first ship to dock under this agreement will be Cunard's Queen Victoria
that entered service in December 2007. With a length of 294m and a beam of
32.3m, it will be in the yard from 2(nd) - 19(th) May 2022.  Queen Victoria
will be the largest cruise ship ever to have drydocked in a UK shipyard and
the only Cunard ship to have ever drydocked in Belfast.

The second ship is P&O Cruises' Aurora that entered service in May 2000.
With a length of 270m and a beam of 32m, it will be in the yard from the 9(th)
- 23(rd) June 2022.

The arrival of these ships in Belfast will mark another milestone completed in
relation to the Harland & Wolff's re-activation strategy across its key
markets. Harland & Wolff's strategy has been very clear, i.e., to operate
in five markets and six service sectors to ensure continuity of projects and
to provide longevity of employment for the core workforce. This will result in
improved productivity and reduced project costs for vessel owners.

With the recent release of the National Shipbuilding Strategy (NSbS), repairs
& maintenance projects, as well as through life support services, are key
activities that will facilitate the continuity of skills and enhance
productivity levels at Harland & Wolff required to win new build
projects.  As indicated in the NSbS, there are over 150 domestic vessels to
be built in the coming years, in addition to the fabrication works for the
renewables sector following the latest ScotWind licensing round and future
licensing rounds yet to be announced.

Harland & Wolff, group CEO John Wood, commented:

"When acquiring the assets of Harland and Wolff (Belfast) in December 2019 and
in a pre-pandemic period, the cruise industry was one of our key target
markets.

"Our facilities are ideally placed to capitalise on these types of large
projects whilst we continue servicing our smaller but regular clients. We have
now secured contracts in four out of our five markets; commercial, cruise
& ferry, renewables and energy - we now hope to complete the final
milestone of securing a defence contract in the near future."

Carnival UK, vice-president maritime David Varty said: "We are delighted to be
able to have these two ships at a UK shipyard with such a long heritage and
reputation and we very much look forward to supporting the UK maritime
industry and working closely with the Harland & Wolff team on this
project."

 

 

 

For further information, please visit www.harland-wolff.com
(http://www.harland-wolff.com/)  or contact:

 

 Harland & Wolff Group Holdings plc                                        +44 (0)20 3900 2122

 John Wood, Chief Executive Officer                                        investor@harland-wolff.com (mailto:investor@harland-wolff.com)

 Seena Shah, Head of Marketing & Communications                            media@harland-wolff.com (mailto:media@harland-wolff.com)

 Cenkos Securities plc (Nominated Adviser & Broker)                        +44 (0)20 7397 8900

 Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance)

 Michael Johnson (Sales)

 

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the
maritime and offshore industry through five markets: commercial, cruise and
ferry, defence, energy and renewables and six services: technical services,
fabrication and construction, decommissioning, repair and maintenance,
in-service support and conversion.

 

Its Belfast yard is one of Europe's largest heavy engineering facilities,
with deep water access, two of Europe's largest drydocks, ample quayside and
vast fabrication halls. As a result of the acquisition of Harland & Wolff
(Appledore) in August 2020, the company has been able to capitalise on
opportunities at both ends of the ship-repair and shipbuilding markets where
there will be significant demand.

 

In February 2021, the company acquired the assets of two Scottish-based yards
along the east and west coasts. Now known as Harland & Wolff (Methil) and
Harland & Wolff (Arnish), these facilities will focus on fabrication work
within the renewables, energy and defence sectors.

 

In addition to Harland & Wolff, it owns the Islandmagee gas storage
project, which is expected to provide 25% of the UK's natural gas storage
capacity and to benefit the Northern Irish economy as a whole when completed.

 

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