Author Topic: Ferguson Marine Engineering Ltd Nationalised  (Read 238 times)

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Offline Clydebuilt1971

Ferguson Marine Engineering Ltd Nationalised
« on: Aug 16, 2019, 12:12 PM »
As of this morning the shipbuilder Ferguson Marine Engineering Ltd has been taken over by the Scottish Government which will hopefully bring a two year feud between the company and government owned Caledonian Maritime Assets Ltd to an end.

This will allow the two LNG hybrid ferries FMEL are currently building for CMAL to be completed whilst a new owner is sought for the yard.

The only other option was administration - this would have most certainly led to the closure of the yard and the loss of 300+ jobs.

Whilst nationalisation is not the best long term solution it certainly buys some time.

I have been following this debacle closely in recent months and quite frankly this issue should've been sorted out more than a year ago. Current owners Clyde Blowers Capital did table some solutions in recent weeks however I think that they used the threat of administration to prompt some sort of move to break the current stalemate.

The main issue is the cost overrun on the fore mentioned CMAL ferry contract which FMEL say has been caused by the volume of changes to the design on the contract to date which may result in it being almost 100% over budget.

I have heard that the design was carried out by a CMAL appointed Naval Architect but were never approved by Flag (MCA) or Class (Lloyds or BV or DNV etc) therefore when the build was inspected it was rejected.

I am sure the actual reasons for the overruns will lie with both parties but am hopefully this will see an end to it and allow the yard to get on with completing the vessels.

BBC News link here:

Ferguson Shipyard Nationalised

Gav
« Last Edit: Aug 17, 2019, 08:31 PM by Isabelle Prondzynski »

Offline June Ingram

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Re: Ferguson Marine Engineering Ltd Nationalised
« Reply #1 on: Aug 19, 2019, 04:14 PM »
Many thanks for the news.  I do hope all will work out for Ferguson !
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Online Lynda Bradford

Re: Ferguson Marine Engineering Ltd Nationalised
« Reply #2 on: Aug 22, 2019, 02:39 PM »
Thanks for the update Gav, I they find a successful solution for the yard.
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by June Ingram