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Those Boys Form Aberdeen Are A Bit Shy About Sharing The Good News....


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HOLA441

Oooh, now I've got a reason to go visit the folks, I'm looking forward to seeing that.

(If it's the bit I'm thinking, there's usually a few rigs there even in normal times. But not more than half a dozen)

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HOLA442

I don't think anybody who visits here is enjoying the fact that oil workers are losing jobs though.

But think of these cold stacked rigs like skyscrapers. You know, the ones that pop up just before a big recession.

Drilling is just about 100% speculation, and if there's no punters, they will cold stack.

It will come back, but most of these rigs will be scrapped, with new ones built abroad.

Its the engineering of them. I know. I've been on 100's of rigs/vessels all over.

Once you lose the capital components to corrosion and abandonment, it is usually cheaper to buy new.

Might take a few million squid to drill a well, and you may only get a small weather or political window to do so, and being in refit for donkeys years isn't going to get you the prized day rates of £250k or more.

Well I'm certainly not happy.

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HOLA445

https://www.energyvoice.com/other-news/99586/aberdeen-hit-by-largest-hotel-occupancy-drop-in-uk/

Aberdeen had the largest fall in hotel occupancy and revenue of anywhere in the UK, new figures have shown.

The latest report by accountants and business advisers, BDO LLP, showed occupancy in the Granite City fell by 19.7% compared with 2014.

Meanwhile revenue fell by 45.7% from £79 to £43 in 2015. The figures were for the month of October in 2015.

Wow.

For those that aren't aware of the Aberdeen area, its been subjected to massive VC speculation in commercial ventures in the past few years; office spaces, hotel complexes, retail spaces.

So many of these office spaces are sitting empty, or occupied by skeleton crews, or a security guards. Examples ; A specialist vessel contractor has a massive presence just west of Aberdeen city, and now they've moved all the staff into one of the complexes.

There are commercial 'to let' signs in all the once busy industrial estates around Aberdeen city; Tullos, Westhill, Altens, Wellheads, Pitmedden, Kirkhill, Bridge of Don, etc.

The hotels were built on the idea that oil workers need digs during their mob/demob days and their parent company/client will be paying top rate for rooms, often fleecing folk out to 100's of pounds. And then there are the several big industry shows per year that pack the place.

So basically, many of these hotels are sitting empty and awaiting the return of an economic model that will likely never return.

Same goes for all the office space.

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HOLA446

Sturgeon begs for "City Deal" for Aberdeen

https://www.holyrood.com/articles/news/nicola-sturgeon-urges-prime-minister-confirm-city-deal-aberdeen--matter-urgency

Looks like those £200 minimum withdrawal cashpoints could be a thing of the past, do the taxi drivers still drive AMG Mercs?

What about the nightclub with £1000 minimum spend tables?

I wish they had got Independance.

Edited by workingpoor
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HOLA447

Looks like those £200 minimum withdrawal cashpoints could be a thing of the past <-- eh? What's this? Never heard of it.

do the taxi drivers still drive AMG Mercs? <-- yep, but not so many now

What about the nightclub with £1000 minimum spend tables? <-- went bust about a month later I think, lol, it was a dump too. The proprietor obviously never tried overcharging a teuchter for a pint

Edited by cashinmattress
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HOLA448

Looks like those £200 minimum withdrawal cashpoints could be a thing of the past <-- eh? What's this? Never heard of it.

do the taxi drivers still drive AMG Mercs? <-- yep, but not so many now

What about the nightclub with £1000 minimum spend tables? <-- went bust about a month later I think, lol, it was a dump too. The proprietor obviously never tried overcharging a teuchter for a pint

Cashpoints at the arrivals hall:

http://www.telegraph.co.uk/finance/oilprices/11397855/Aberdeen-is-paying-the-price-for-oils-decline.html

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HOLA449

Hmm. I was in a shopping centre in Poland recently, and it was 'calibrated' to dole me out 1000 zlotys (£100). I just pressed 'other amount'.

Also happened in Croatia last year, offered me 1000 kunas (£100) or other amount.

What are the cash points offering at Heathrow as a first choice?

I don't see how that is news.
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HOLA4410

Are you sure. Some of the old sh1te ive been on. Ive wondered if they'll sink before they get a chance to scrap them.

Actually thinking about it, it was just one company that seemed to have all the shite. Italian.

At on point on one of their vessels you had a mathematically higher chance of comming back from Afghanistan unharmed as a uk soldier than as a Phillipino deck hand from that vessel.

Saipem, Bluewater by any chance?

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HOLA4411

Sturgeon begs for "City Deal" for Aberdeen

https://www.holyrood.com/articles/news/nicola-sturgeon-urges-prime-minister-confirm-city-deal-aberdeen--matter-urgency

Looks like those £200 minimum withdrawal cashpoints could be a thing of the past, do the taxi drivers still drive AMG Mercs?

What about the nightclub with £1000 minimum spend tables?

I wish they had got Independance.

The cash machine was I think a Forex machine in the airport, so a fabrication of the truth.

Also, that club as ludicrous as it was only had one minimum spend table to he booked for 12 people, so not quite how it was described. Anyway, rumour has it that club was destined to fail, as the owner tends to set up business and put them under for tax reasons.

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HOLA4415

she's goin down........

Aberdeen hotels have suffered a 46% one-year drop in revenue per room, as the oil industry downturn has seen business spending cut.

It was the worst performing part of the UK last October, according to a regular survey of 3 and 4 star hotels by accountants BDO.

http://www.bbc.co.uk/news/uk-scotland-scotland-business-35387418

Edited by workingpoor
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HOLA4416

There seemed to be a lot of old crap floati g around in the late 90s early 2000s. 2005 onwards seen a lot of new stuff coming on line, still a lot being built in yards. They carried on using the old stuff due to sheer demand. But i reckon youre right theyll use this downturn to get rid of a much old rigs And vessels as they can.

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