jollyjacktar said:
For anyone to honestly believe that Irving could deliver cheaper than Davies, then they're seriously deluding themselves. Irving is the grand master, and I mean MASTER, of lowballing the government before bait and switching up to the vastly more expensive reality of what they do deliver (time after time, just like Lucy and Charlie Brown and the football). They have that shit down to a precise science that even Stephen Hawking would be challenged to follow the numbers and Machiavellian machinations.
This timeline thing can become quite addictive:
19 Oct 2011 Irving and Seaspan selected for NSPS
12 Jan 2012 Irving and Seaspan and the Government of Canada sign Agreements in Principle
30 Mar 2012 Government of Nova Scotia fronts Irving 300 MCAD to modernize its yards
3 Apr 2012 Seaspan awarded 5 more Coast Guard MEMTVs and 5 more Coast Guard OPVs
19 Oct 2012 Seaspan ground breaking on yard expansion - 170 MCAD of privately raised money
12 Dec 2012 Seaspan and Government of Canada sign Umbrella Agreement
7 Mar 2013 Irving gets 250 MCAD AOPS definition contract
18 Mar 2013 Seaspan get OFSV definition contract
June 2013 Berlin design selected for JSS
21 Aug 2013 Irving invests 300 MCAD in yard
10 Dec 2013 Irving announces the expenditure of 175 MCAD at yard
Time passes
27 Oct 2014 OFSV 01 First Steel Cut
6 Nov 2014 Seaspan ceremony for new yard
23 Jan 2015 Irving gets AOPS Build Contract
24 Jun 2015 Seaspan gets OFSV 01 Build Contract and has Keel Laying Ceremony
3 Sep 2015 First Steel cut on AOPS 01
Now, like I said before, a timeline is a sequence of discrete events that may or may not be connected.
But my sense of looking at that sequence is that Seaspan is the more aggressive, proactive group. It raised its own money to build the yard and started work on its yard 9 months after signing the original Agreement in Principle. The OFSV steel was cut 24 months later, 6 months before they got the Build Contract.
Meanwhile Irving doesn't cut steel for another 11 months, and only after it had been fronted 300 MCAD by the Government of Nova Scotia, and then has 250 MCAD of the Government of Canada's money in the bank did it start modernizing its yard, 10 months after Seaspan.
Now, Irving is probably the better company for its investors but Seaspan might be a better choice for its clients.
But that is just idle speculation on a snowy Sunday morning.