SNP faces backlash as Scottish shipyard loses out to Poland on state ferry contract
A contract to build seven electric vessels for ferry operator CalMac has been handed to the Remontowa yard in Gdansk, which triumphed over four other bids including one from Clyde-based Ferguson Marine.
The Scottish yard was brought under government control by the ruling Scottish National Party (SNP) in 2019 and has received hundreds of millions of pounds of state aid.
Russell Findlay, leader of the Scottish Tories, said the decision to send business overseas rather than support the struggling state-owned shipyard was a 'hammer blow' for employees and a result of SNP 'incompetence'.
The contract was awarded by state-controlled procurement firm Caledonian Maritime Assets (CMAL). CalMac has also been under the direct control of the Scottish Government since 1990.
Unions also criticised the decision. Alex Logan, the convenor for the GMB union at Ferguson Marine, said: 'This contract should have allowed the yard to seize back a reputation for excellence unfairly torn away. We had a worldwide reputation for building small vessels and sending this work overseas makes no sense.'
Mr Logan questioned the logic of the SNP failing to award the contract to Ferguson Marine after pledging to invest in the modernisation of the yard. He said the Ferguson Marine workforce had been 'used as a political punch bag' over a number of years.
Sue Webber, the Scottish shadow transport secretary, said the decision could prove to be 'the death knell' for Ferguson Marine.
She said: 'It should be a given that a nationalised shipyard wins a Scottish Government contract. It's a measure of how badly the SNP have mismanaged Ferguson's that ferries, which should be built on the west coast of Scotland, are to be made in eastern Europe.'
Fiona Hyslop, the Scottish transport secretary, said the decision represented a milestone in modernising the fleet of CalMac.
CMAL said the five bids were assessed against various technical and financial criteria by its own experts and outside marine specialists.
Kevin Hobbs, the procurement company's chief, said it was required to select a yard that would both serve the needs of islanders and 'deliver the best value for the public purse'.
Ferguson Marine handed over the first of two new CalMac vessels six years late in January.
Remontowa has built vessels for CalMac before, though not for more than a decade, having most recently delivered the MV Finlaggan in 2011.
CMAL also overlooked a bid from Birkenhead-based Cammell Laird and one from Cemre of Turkey, which is in the process of building the next four ships due to join the CalMac fleet.
Cemre recently revealed that the first delivery, originally expected this month, had slipped to June, depriving remote islands of vital links upon which their economies depend going into the tourist season.
The seven electric ferries to be built in Gdansk will be deployed on short sea crossings to islands including Bute, Mull and Gigha.
Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
Upcoming Stock Splits This Week (August 11 to August 15)
These are the upcoming stock splits for the week of August 11 to August 15, based on TipRanks' Stock Splits Calendar. A stock split is a corporate move that hands out extra shares to existing investors, increasing the total share count without changing the company's overall market value. The share price drops accordingly, making the stock feel more affordable – and often more appealing – to everyday investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Most splits are designed to broaden a stock's reach by lowering its price tag, but some companies flip the script with a reverse stock split. Instead of multiplying shares, they merge them, cutting the share count and boosting the price per share. The company's market value stays the same, but this tactic is often used to meet exchange listing rules – like Nasdaq's minimum price requirement – and avoid being booted from the market. Whether it's about widening the investor pool or holding onto a market listing, these moves can be telling signals with real weight. Let's take a look at the upcoming stock splits for the week. NuCana (NCNA) – NuCana is a clinical-stage biopharmaceutical company based in Edinburgh, UK, dedicated to improving cancer treatment outcomes using its proprietary ProTide (phosphoramidate) technology. This platform is designed to transform traditional chemotherapy agents into more effective and targeted anti-cancer medicines. On July 11, the company announced a 1-for-200 reverse ADS split to support liquidity and satisfy Nasdaq's minimum bid price requirement. The split will take effect on August 11. Veru (VERU) – Specializing in treatments for cardiometabolic and inflammatory diseases, clinical-stage biopharma Veru is taking steps to lift its share price. On August 6, the company announced a 1-for-10 reverse stock split to comply with Nasdaq's $1.00 minimum bid rule. The change took effect on August 8, with split-adjusted trading beginning August 11. Energous (WATT) – Energous develops RF-based, over-the-air wireless power networks that deliver cable-free energy to IoT devices in sectors like retail, logistics, and industrial monitoring. On August 6, the company announced a 1-for-30 reverse stock split, effective August 11. The move aims to boost the share price and regain compliance with Nasdaq's minimum bid price requirement. Shineco (SISI) – Beijing-based Shineco is a diversified holding company operating across healthcare, agriculture, and textiles. It develops in vitro diagnostic reagents and medical devices, processes and distributes plant-based products like fresh fruits and silk goods, and even runs a restaurant in Fuzhou. On August 7, the Board approved a 50‑for‑1 reverse stock split to comply with Nasdaq's minimum bid price requirement, effective on August 11. NanoVibronix (NAOV) – NanoVibronix develops non-invasive medical devices such as PainShield® and UroShield®, which use surface acoustic wave technology, and the FDA-cleared ENvue™ feeding tube navigation system. On August 8, the company announced a 1-for-10 reverse stock split effective August 11, with split-adjusted trading starting August 12, aiming to boost its share price and support compliance with Nasdaq's listing requirements. Catheter Precision (VTAK) – Catheter Precision specializes in designing and manufacturing advanced medical technologies for cardiac electrophysiology, including its 3D mapping Vivo™ system and LockeT™ suture retention device that assist clinicians in arrhythmia procedures. On July 28, the company announced a 1‑for‑19 reverse stock split, effective on August 15. The split is intended to lift its per‑share trading price and meet NYSE American's minimum bid price requirements to maintain listing compliance.
The Hill
3 hours ago
- The Hill
Some Claire's, Icing stores set to close after bankruptcy filing: court docs
(NEXSTAR) — More than a dozen Claire's stores, as well as a few Icing locations, are set to close in the coming weeks after the former filed for bankruptcy. Illinois-based Claire's, which also operates Icing, announced Wednesday that it was voluntarily beginning Chapter 11 bankruptcy proceedings 'to maximize the value of its business.' 'This decision is difficult, but a necessary one,' Chris Cramer, CEO of Claire's, said in a press release, citing pressure from 'increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail,' as well as debt obligations and 'macroeconomic factors.' 'We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives,' he added. Trump promised lower grocery prices 'on Day One.' Here's what happened In the same press release, the company said Claire's stores 'will remain open.' Court documents filed the same day, however, identified 18 stores — five Icing stores and 13 Claire's locations — across 13 states for potential closure. These stores were previously identified as locations that 'should be exited,' court documents explain. Alabama 3518 Eastdale Mall, Montgomery California 8042 Galleria at Tyler, Riverside (Icing) 5586 Newpark Mall, Newark Illinois 5307 Ford City Mall, Chicago Massachusetts 3358 Market Street at Lynnfield, Lynnfield Michigan 5896 Bay City Town Center, Bay City 3422 Woodland Mall, Grand Rapids (Icing) Minnesota 6684 Northtown Mall, Blaine New Jersey 6373 Livingston Mall, Livingston New York 8456 Greece Ridge, Rochester (Icing) Pennsylvania 5406 Union Town Mall, Union Town Tennessee 5368 Pinnacle at Turkey Creek, Knoxville Texas 6252 Shops at Highland Village, Highland Village 8615 Mall of Abilene, Abilene (Icing) Utah 6705 Provo Town Center, Provo 6233 Junction Commons, Park City 8668 University Orem, Orem (Icing) Washington 722 Woodinville Plaza, Woodinville Store closing sales are expected to end no later than September 7, should the filing receive approval. Claire's, well-known for its affordable jewelry and accessories, as well as its piercing service, previously filed for bankruptcy protection in 2018. According to CNBC, the retailer is facing a similar burden now, namely a steep debt load. Tariffs and increased competition are adding to the pressure now. Currently, Claire's has about $500 million in debt and between $1 billion and $10 billion in assets and liabilities. Citing court documents, CNBC reports Claire's is exploring a sale of its assets. Other retailers that have filed for bankruptcy this year include At Home and JOANN. Fellow mall-focused stores, like Torrid, have also been forced to close dozens of stores.
New York Post
7 hours ago
- New York Post
Netanyahu lays out Gaza City incursion goals as critics warn it could turn to Israel's ‘Vietnam'
Israeli Prime Minister Benjamin Netanyahu laid out Sunday his five goals to seize Gaza City and free it from Hamas — as he faces mounting pressure, with one world leader warning that the military incursion could turn into his own 'Vietnam.' Netanyahu called his plan to invade Gaza City 'the best way to end the war' quickly, as he laid out the five-point plan for peace. 'One, Hamas disarmed. Second, all hostages freed. Third, Gaza demilitarized. Fourth, Israel has overriding security control. And five, non-Israeli peaceful civilian administration,' the premier summarized. 5 Israeli Prime Minister Benjamin Netanyahu defended his decision to invade Gaza City on Sunday as the best way to end the war and free the remaining 50 hostages. POOL/AFP via Getty Images 5 Smoke rises over Gaza City on Friday after Netanyahu's cabinet cleared the way for a full military incursion to begin. AFP via Getty Images 'That's our plan. Given Hamas's refusal to lay down its arms, Israel has no choice but to finish the job and complete the defeat of Hamas,' Netanyahu added. Netanyahu maintains that the operation won't lead to the full military occupation of Gaza, instead, it will focus on targeting Hamas' terrorist cells stationed in Gaza City. The premier did not offer a timeline on how the military incursion would proceed, saying only that it would be done 'fairly quickly.' He likened the operation to the military takeover of the southern city of Rafah, another controversial incursion that was once tapped as the final tactic to eliminate Hamas last year, only for the terror group to re-emerge elsewhere in Gaza. 5 Israel has faced severe backlash across the world over the continued fighting in Gaza and humanitarian crisis affecting Palestinian civilians. REUTERS Experts have also expressed doubts that such an operation could be speedily resolved, with many warning that it would only indefinitely extend the war, which has raged on for nearly two years. As the United Nations holds an emergency meeting this weekend to discuss the Gaza City incursion, Italian Foreign Minister Antonio Tajani presented a stark warning to Netanyahu. 'The invasion of Gaza risks turning into a Vietnam for Israeli soldiers,' he told the daily Il Messaggero, referencing the years-long quagmire and losses in Vietnam that ended with the withdrawal of the US military. 5 Mass protests erupted in Tel Aviv on Saturday night demanding a diplomatic end to the war. AP When news of the incoming operation broke last week, Colin Clarke, a counter-terrorism expert at the New York-based Soufan Group, told The Post that the incursion would put more IDF soldiers at risk of being attacked by not only Hamas, but also by armed insurgents opposing the occupation. 'This puts the IDF under new risks, with the soldiers having to deal with regular ambushes, improvised explosions and sniper fire from an insurgency,' Clarke warned. The plan to invade Gaza City, which IDF chief of staff Eyal Zamir also opposes, has also caused tens of thousands to march in the streets of Tel Aviv to oppose their government's action, calling for a cease-fire agreement in its place to free the remaining 50 hostages. 5 The families of the hostages still in Gaza fear an escalation in the war will put their loved ones at risk. Getty Images Netanyahu and his cabinet have claimed that the military operation is still the best way to free the captives, only 20 of whom are believed to still be alive. The embattled premier also faces pressure from members of his far-right coalition accusing him of falling short on the goal to take over Gaza. Bezalel Smotrich, a member of Netanyahu's security cabinet, said he has lost faith in Netanyahu's ability and desire to lead Israel to victory. With Post wires
