logo
Nationalised Ferguson shipyard names new boss

Nationalised Ferguson shipyard names new boss

BBC News20-03-2025

The nationalised Ferguson Marine shipyard has appointed a new permanent chief executive. Graeme Thomson will take over as boss of the Port Glasgow firm after the departure of the interim CEO John Petticrew and the sacking of his predecessor a year ago. Mr Thomson has most recently worked as programme director for Babcock where he oversaw delivery of the Type 31 frigate programme for the Royal Navy. The appointment was confirmed just days after the shipyard missed out on a crucial order for a fleet of small CalMac ferries.
Mr Thomson said he was "excited and enthused" to be taking up the new role which starts on 1 May. He said: "The business, and its people, have faced challenging times but as we look forward, we must focus on delivering key contracts that demonstrate our capability to exceed expectations and build world class ships on the Clyde. "This, and our commitment to build a better culture based on accountability and robust governance, will enable us to put past issues behind us, restore the reputation of Ferguson Marine and realise its potential as a leader in global shipbuilding."
The shipyard is still working to complete MV Glen Rosa, the second of two dual-fuel CalMac ferries which have caused the yard many problems since the contract was awarded 10 years ago. The ship is currently due for delivery in September, but resources were diverted last year in order to bring its sister ship Glen Sannox into service, and a further delay is widely expected. The yard has no other confirmed ship orders, but sub-contracting work from BAE Systems on units for the Navy's new Type 26 frigates is expected to start next month, according to Deputy First Minister Kate Forbes. The yard is also pursuing new private sector orders.
Mr Thomson has worked in shipbuilding, construction, defence and the nuclear engineering services sector for more than 20 years. Prior to joining Babcock, he worked at Lecor, Seaspan Shipyards and BAE Systems. Ferguson Marine chairman Andrew Miller said: "Graeme is a trusted and experienced leader with a sharp and intelligent business focus. "He brings to the role a diverse background of experiences and an excellent track record for delivery in the shipbuilding and construction industry. "He joins us at a crucial time for our business and the board believes he will be instrumental in achieving the goals set out in our strategy and, crucially, will deliver long-term growth for Ferguson Marine."
Previous bosses
Ferguson's has been without a permanent chief executive since March last year when the firm's board of directors unexpectedly sacked David Tydeman. Mr Tydeman had won praise for overseeing substantial progress on Glen Sannox and Glen Rosa after years of design challenges and disputes over costs. But the bill for the ships also rose substantially and more deadlines were missed as complications arose.Following his departure, board member John Petticrew took on the role on an interim basis, initially for six months but this was later extended. During his time in charge, the slipway launch of Glen Rosa took place and Glen Sannox was finally delivered to owners CMAL before entering service on CalMac's Arran route in January.Mr Petticrew had been expected to remain in post until a permanent replacement was announced, but a week ago Ferguson's said he had resigned early for "personal reasons" and was returning to his family in Canada.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Scottish financial services inward investment impresses
Scottish financial services inward investment impresses

The Herald Scotland

timea day ago

  • The Herald Scotland

Scottish financial services inward investment impresses

There seem to be many who would rather it was all going horribly wrong, so they could point their fingers and declare, for political reasons, that Scotland is some kind of basket case and that it is all the SNP's fault. If anyone thinks this statement is overdone, they might want to contemplate the horrified glee with which the cost overruns and huge delays on the two ferries which Port Glasgow shipbuilder Ferguson Marine has been building for CalMac have been greeted. That is not a reference to people on Arran or others actually affected by the knock-on disruption to ferry services which has resulted from these delays – they are perfectly entitled to make their viewpoints known. Rather, it is a reference to those who are not affected directly but seem compelled to carp from the sidelines, at great volume and with spectacular frequency and on occasion pomposity. The cost overruns and delays on this contract for the Glen Sannox and Glen Rosa, awarded by Caledonian Maritime Assets Limited and lamentably complicated by what seemed like an unnecessary requirement for dual-fuel vessels operating on marine diesel and liquefied natural gas, have been far from ideal, to put it mildly. However, in the political fishbowl that is Scotland, it would be good if the carping were proportionate. Scotland's continuing strong performance in financial services foreign direct investment (FDI) was revealed in figures published by accountancy firm EY on Monday. These showed Scotland, as well as remaining second only to London as a destination for financial services FDI in the UK last year, also achieved a decade-high for the number of such projects won. The EY figures show Scotland attracted 11 financial services FDI projects in 2024, up from nine in the previous year. This advance was achieved in spite of a sharp fall in the overall number of financial services FDI projects won by the UK in 2024. EY's figures show Edinburgh, with the six financial services FDI projects it attracted last year, was the joint-top city outside London for such wins, alongside Manchester. London attracted 39 financial services FDI projects in 2024. Glasgow earlier this year climbed further in a closely watched league table of global financial centres. The city rose by five places to 32nd spot in the latest twice-yearly Z/Yen Global Financial Centres Index, published in March. In September 2023, Glasgow was in 51st spot, before climbing to 42nd place in March 2024 and then 37th place in September last year. Edinburgh's position was, at 29th in the latest rankings, unchanged from September 2024 when it climbed to its current position from 33rd. However, while its league placing was unchanged in the latest index, the Scottish capital's overall score improved. The EY figures published this week show the US continues to be the top source of financial services FDI for Scotland, accounting for five such projects in 2024. And the US has been the source of 38 financial services inward investment projects for Scotland over the last decade, EY noted. Meanwhile, the accountancy firm highlighted an important sign of strength in financial services FDI in Scotland overall last year, in terms of overseas companies already operating here deciding to invest further in the nation. Sue Dawe, EY's Scotland managing partner for financial services, said: 'We continue to see Scotland perform well in attracting financial services FDI projects. In 2024, we saw almost as many projects expanding existing operations as we did brand new projects - which is a great indication that these companies view Scotland as a viable proposition to continue investing in.' The UK attracted 73 financial services FDI projects last year, down from 108 in 2023. This is a sharp drop, making it all the more impressive that Scotland managed to buck this downward trend at a UK level. However, EY noted: 'The UK continues to be Europe's most attractive location for financial services FDI with total project numbers across Europe falling 11% year on year - from 329 projects in 2023 to 293 projects in 2024.' Read more It added: 'The UK's 73 financial services projects is more than double second-placed Germany, which recorded 32 projects - a 16% decline from 38 in 2023. France fell to third position with 30 projects in 2024 - a 23% decline from 39 projects in 2023.' EY highlighted the importance of Scotland continuing to work hard to secure financial services FDI, given the fall in the number of projects attracted by the UK overall last year. Ms Dawe said: 'While the UK continues to be Europe's top financial service FDI location, the fall in overall investment that was recorded at both those levels [tells] us that we cannot take the foot off the [pedal]. If Scotland is to remain an attractive place for companies within an increasingly competitive market, then we need to dial up what we do well - working together across sector, government and education - and not shy away from challenges on the horizon.' She added: 'Financial services isn't simply one of Scotland's growth sectors - it's the growth sector that enables other growth sectors; so, if we get this right and continue to be the most attractive place to establish financial services operations outside London, the Scottish economy as a whole will benefit. We've already demonstrated what can be achieved when we work together - this should be no different.' There is clearly much to continue to strive for in this arena, building on impressive successes to date. Sandy Begbie, chief executive of industry body Scottish Financial Enterprise, said: 'EY's latest attractiveness survey demonstrates the continued strength and attractiveness of Scotland's world-class financial services industry, based on the depth, breadth and maturity of our ecosystem, the quality of our universities and skills pipeline, and the leadership we are showing in priority areas like data, AI (artificial intelligence) and green finance.' Mr Begbie underlined the potential to build further on Scotland's success in this key area. He said: 'We believe there is even greater potential for progress - particularly by taking advantage of global trends around near-shoring and the establishment of large regional hubs - and have redoubled our efforts to promote Scotland as a good place to invest.' Commenting on the EY figures, Mr Begbie observed 'these results also show that we are operating in an increasingly competitive marketplace and, if we want to retain our strong reputation internationally, there is no room for complacency'. He declared that it is 'vital that industry and government work closely and constructively to further build upon our longstanding reputation as a good place to do business, attract further inward investment and create new high-value jobs that benefit everyone in Scotland'. The numbers for financial services FDI in recent times suggest that, in highly competitive global conditions, the sector in Scotland, as well as government and educational institutions, are doing a great job in working together to attract high-value activity to the nation. Those who like for their own political ends to try to paint a picture of the Scottish Government not doing well on the economy might want to reflect on that. However, they probably will not.

Return of MV Caledonian Isles delayed due to adverse weather
Return of MV Caledonian Isles delayed due to adverse weather

The National

time2 days ago

  • The National

Return of MV Caledonian Isles delayed due to adverse weather

The vessel has been out of action since a catalogue of issues was identified when it went in for its annual overhaul in January 2024. It was due to return to service on Thursday but after it undocked 24 hours late due to "poor conditions", it is now due to begin a phased return on Friday. This phased return will continue through Saturday and Sunday, with a return to a full timetable on Monday, June 15. CalMac said: "There will be a delay to the phased return of the vessel. MV Caledonian Isles will begin a phased return on Friday, June 13 and continue through Saturday, June 14, with a full return to timetable on Sunday, June 15." READ MORE: 'Multi-billion-pound' renovation for Faslane nuclear base on Clyde The MV Isle of Arran replaced the Caley Isles on the Ardrossan route, but moved on in January this year, leaving the town without a ferry service since that date. The MV Glen Sannox has been operating from Troon – alongside the MV Alfred – because it is too large to dock at Ardrossan. Transport Secretary Fiona Hyslop announced earlier this year that she had asked officials to look at the potential purchase of the harbour in North Ayrshire. The Ardrossan Harbour Task Force met for the first time in a year in April after which the Scottish Government said it remained committed to trying to purchase the site. But campaigners fighting to save Ardrossan Harbour told The National last month they fear negotiations to bring the site into public ownership are 'far from complete' after meeting with CMAL, Transport Scotland, CalMac and Peel Ports. The Ardrossan port requires a costly berth realignment in order to accommodate the new Glen Sannox – which entered service to Arran in January – and the Glen Rosa – which is now not due to be delivered until 2026. READ MORE: 3000 sign NC500 pledge amid Highland concerns over tourism impact The Ardrossan Harbour Project – to develop the port and make it suitable for the Glen Sannox and Glen Rosa – was given the go-ahead way back in 2018 by then transport minister Humza Yousaf, but the project was paused in 2023 and a fresh business case has never emerged. With ferries only going in and out of Troon for the past few months, residents in Arran have been struggling to get to medical appointments at Crosshouse Hospital in Kilmarnock, which is easily reachable by bus from Ardrossan but much more challenging to get to from Troon. Foot passengers have also had to board a shuttle at the Troon port if they want to get to the town's railway station and travel on towards Glasgow, with Troon station being around a 25-minute walk away. Ardrossan train station, on the other hand, is right by the port and the timings of service line-up with the ferry timetable. Transport Scotland said it will update Parliament and the community once there is progress to report on the potential purchase.

UK to spend more than $8 billion on submarine-building capacity
UK to spend more than $8 billion on submarine-building capacity

Reuters

time2 days ago

  • Reuters

UK to spend more than $8 billion on submarine-building capacity

LONDON, June 10 (Reuters) - Britain will invest over six billion pounds ($8.13 billion) in its submarine building capacity, supporting firms like defence group BAE Systems and engineering multinational Rolls-Royce, finance minister Rachel Reeves is set to announce on Tuesday. Responding to U.S. President Donald Trump's insistence that Europe take more responsibility for its own security, Prime Minister Keir Starmer has pledged the largest sustained increase in British defence spending since the end of the Cold War. Last week, Britain said it would increase the size of its nuclear-powered attack submarine fleet to as many as 12, up from the current seven, responding to an independent review of its current military capacity and ability to meet future threats. No cost was given at the time but in a speech on Tuesday Reeves will say that investments in the defence nuclear sector will include over six billion pounds to boost the "capacity, capability and productivity of the UK's submarine industrial base", including at BAE Systems and Rolls-Royce Submarines, a subsidiary of Rolls-Royce. The investment, which will cover the four-year spending review period, will help companies deliver the increase in submarine production rate announced last week, the government said in a statement. Reeves will announce the results of her first multi-year spending review on Wednesday, including an investment of four billion pounds over the next decade in its Plymouth naval base. The finance minister will also announce an investment in the redevelopment of a naval base in Scotland and in Sheffield Forgemasters, a steel company that produces components for submarines. ($1 = 0.7387 pounds)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store