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Shetland Islands to Iceland, via the Faroe Islands


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29 replies to this topic

#16 ll

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Posted 30 October 2016 - 11:42 AM

So based on Muckle Joanie's calculations, the figures extrapolate to over 2 million GBP dividend total paid out.

 

If the company is do better now, there are a few other things that will further increase our divend -

 

cheaper fuel costs

 

weaker pound

 

So better to keep our finger in the pie.

 

It's the only ferry that Shetland has that is making the council money.5 years ago the Scorrie's ferry route needed £10,000 a day to keep it going! Not saying we take away your ferry, merely bringing to your attention.

 

Whilst Northlink needs £800,000 per week from government to keep it afloat.



#17 Frances144

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Posted 30 October 2016 - 12:23 PM

Where can I find some Smyril line shares, apart from the obvious, to buy?



#18 Scorrie

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Posted 30 October 2016 - 02:15 PM

So based on Muckle Joanie's calculations, the figures extrapolate to over 2 million GBP dividend total paid out.

 

If the company is do better now, there are a few other things that will further increase our divend -

 

cheaper fuel costs

 

weaker pound

 

So better to keep our finger in the pie.

 

It's the only ferry that Shetland has that is making the council money.5 years ago the Scorrie's ferry route needed £10,000 a day to keep it going! Not saying we take away your ferry, merely bringing to your attention.

 

Whilst Northlink needs £800,000 per week from government to keep it afloat.

 

You're comparing the incomparable.

 

Putting that aside and going back to my original question, I can see why there would be (in some people's eyes) more sense gambling with the money by keeping it in. But, as I said in my previous post, £137k pa is not that much money if we've got better use for it elsewhere. 

 

I'm not saying I have the right course of action in mind, just posing the question.



#19 George.

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Posted 30 October 2016 - 05:28 PM

How many billions of our pounds did the S.I.C invest in Smyril to generate the supposed £137k p.a return? What sort of percentage return is it paying at present?



#20 ll

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Posted 30 October 2016 - 06:12 PM

£4.2m, so likely iro. 3%. Any banks offering this at the moment? Cannot disagree that LPA certainly did well, as did shops and accommodation providers for a number of years with the cash it injected into the Shetland economy that went into out circular flow of income.

If the company is now performing well, why sell up shares. We spent £15m on two tugs for Sullom that were no use and not needed. S C Chambers brokerage website is now selling the Tirrick, so it seems like instead of needing 6 tugs, we only need 3?

#21 George.

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Posted 31 October 2016 - 09:00 AM

£4.2m, so likely iro. 3%. Any banks offering this at the moment? 

 

What relevance do banks have to this? The TSB's current account pays 5%. Peer to peer savings, at present, are paying 5% and more, and there are many other forms of investment offering markedly better returns.

 

A 3% annual return is very like the S.I.C - insulting to the common man.



#22 mikeyboy

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Posted 31 October 2016 - 09:18 AM

The TSB are paying 5% up to £2000 not Millions. Peer to Peer investment is a risk and not all it is cracked up to be but then again I suppose all investments are a risk. So 3% is probably not bad.

The question is do we need the money back?



#23 George.

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Posted 31 October 2016 - 10:54 AM

The TSB are paying 5% up to £2000 not Millions. Peer to Peer investment is a risk and not all it is cracked up to be but then again I suppose all investments are a risk. So 3% is probably not bad.

The question is do we need the money back?

 

We possibly don't need it back at the moment, but it would be nice to think that it's recoverable for the next investment opportunity, tunnels to Yell and Unst which should have been put in decades ago or even the Christmas party for the big knobs that claim to run the council, while in reality the only thing they're really doing is stripping it bare. Having said that, it's an investment made by the S.I.C so don't hold your breath.



#24 ll

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Posted 31 October 2016 - 12:49 PM

If you look at AHS at Knab, Bressay Bridge, two tugs and Sumburgh runway, that nearly £33,000,000 and nothing to show for it.

 

Likely compared with this, it's pretty good.

 

Could have had one of the tunnels for what's been wasted.


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#25 George.

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Posted 31 October 2016 - 02:41 PM

If you look at AHS at Knab, Bressay Bridge, two tugs and Sumburgh runway, that nearly £33,000,000 and nothing to show for it.

 

Likely compared with this, it's pretty good.

 

Could have had one of the tunnels for what's been wasted.

 

Could have had more than just one of the tunnels for what's been wasted. Should have had some tunnels, for what's been wasted. Surprisingly, no justification from the council. No reasoning to back up the utterly wrong decisions to maintain the ferries that are totally useless to anybody that needs to travel, for whatever reason, at perhaps three o'clock on a Sunday morning.

 

Not even a very poor excuse from them. No doubt a very large proportion of *supposed* workers at the council have 90% of their family getting all they can working on the ferries, while the council staff do sausage all useful but keep their jobs and get a very good income for doing nothing useful as well.

 

And it has all gone on for a very long time. Disgusting.


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#26 ll

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Posted 31 October 2016 - 07:25 PM

Most folk likely not caring about anything outside of Lerwick.

 

Surprising how many folk know very little of regions beyond Gulberwick or Staney Hill.


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#27 George.

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Posted 01 November 2016 - 08:28 AM

Only a third of Shetland's population live in Lerwick. Why should the other two thirds care about the place?


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#28 suuusssiiieee

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Posted 01 November 2016 - 10:03 PM

Tunnels should have been constructed 20-25 years ago at a time when it was obviously cheaper to do so. The failing of numerous councils over this time is not only frustrating but ultimately costly, ferries need to be maintained and replaced,likewise with terminals, piers etc.

 

The fact that 200 "workers" were recently evacuated from the white hoose tells you just how much wastefulness is going on to this very day. 


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#29 ll

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Posted 01 November 2016 - 10:27 PM

When it's just 240 metres fae Lerwick ta Bressay and it wis 320 metres far Trondra to Burra, it's absurd that there's still a ferry going. The width of the 'channel' marked between the buoys like likely about 60 metres? 


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#30 ll

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Posted 03 November 2016 - 12:03 PM

Think that's as near as makes no difference - £40,000,000-00 da SIC- or some of it's offshoots has blown on nothing or things not fit for purpose:

 

Any they fuss on about a few pounds here and there

 

New school at Knab

Bressay Bridge

Bonxie - tug

Solan - tug

Westering Homewards - Foula Ferry

White House

Sumburgh Runway

 

Based on past performance, it's a wonder they don't stick up 1 windmill to see if what they are buying fir V.E. is suitable for the Shetland weather. - Pity they didn't put one the same abun Rova Head- ideal opportunity to try one?

 

Most be about 50% of windmills that have gone up in Shetland have not been a success