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Ferry nameplate makes final voyage home to Selby
Ferry nameplate makes final voyage home to Selby

BBC News

time4 days ago

  • General
  • BBC News

Ferry nameplate makes final voyage home to Selby

The nameplate of one of Scotland's longest serving ferries has been returned to Selby, where it was built more than 40 years ago.A special service was held at Selby Cathedral to welcome home the small fragment of the former MV Hebridean ceremony was attended by some of those who helped build the vessel as well as workers from Scottish ferry operator Caledonian MacBrayne, who delivered the the congregation was Phil Moat, who said: "It's been great to see everyone again - and to see shipbuilding getting some recognition in a beautiful place like this." Built by Cochrane Shipbuilers, in Selby, at a cost of £5.5m the ship was launched sideways into the River Ouse in the next four decades the 280ft (85m) ferry made journeys between islands such as Skye, Colonsay and Islay in north-west Scotland, before being withdrawn from service in among the crowd at today's ceremony was Jim Anderson, who said: "We are ex-shipbuilders. We get the togetherness of a shipyard, and why people are still so proud of a 40-year-old ship. That's why it was important to be here." The Duchess of Kent was in charge of the formalities at the launch, but it was the but it was the technique used to launch the vessel that has stuck long in peoples' had to get underneath the hull, hammer away wooden blocks holding the ship in place, then run for cover as it slid towards the McMillan, known as Mac, said: "The dramatic thing was when you saw people on the opposite bank being hit by the wash from the river."The emergency services were shouting 'get back, get back'. People would line up in big crowds - bring all their children - because they'd never seen anything like that."Paul Welch was one of the workers tasked with hammering away the said: "You've always got one eye on the ship moving. As soon as it moves, you duck and run. "All launches were special - this was one of many launches the shipyard did over the years. "Shipbuilding always was important, but today matters because there are so few of us left. We are a dwindling band." Stephen Mackenzie started at Cochrane's as an apprentice joiner in 1971 - his father and brother worked there as well - and stayed with the firm for 17 said: "This has been a long time coming. Shipbuilding has been going on here for years and years and we didn't get the recognition. I'm very pleased - shipbuilding is what makes Selby." Listen to highlights from North Yorkshire on BBC Sounds, catch up with the latest episode of Look North.

5 Insightful Analyst Questions From Coherent's Q1 Earnings Call
5 Insightful Analyst Questions From Coherent's Q1 Earnings Call

Yahoo

time30-06-2025

  • Business
  • Yahoo

5 Insightful Analyst Questions From Coherent's Q1 Earnings Call

Coherent's first quarter results reflected robust year-over-year growth, driven by continued strength in AI data center and telecom demand. Management attributed the quarter's performance to strong execution on new product introductions and expansion in advanced optical technologies. CEO Jim Anderson emphasized the company's progress in launching multiple high-speed transceivers and noted that recent product launches at the Optical Fiber Communications Conference captured customer interest. Anderson explained, 'We achieved record Q3 revenue which grew 11% sequentially and 54% year-over-year due to ongoing strong AI data center demand.' Is now the time to buy COHR? Find out in our full research report (it's free). Revenue: $1.50 billion vs analyst estimates of $1.44 billion (23.9% year-on-year growth, 3.9% beat) Adjusted EPS: $0.91 vs analyst estimates of $0.86 (6.2% beat) Adjusted EBITDA: $341.7 million vs analyst estimates of $323 million (22.8% margin, 5.8% beat) Revenue Guidance for Q2 CY2025 is $1.5 billion at the midpoint, above analyst estimates of $1.47 billion Adjusted EPS guidance for Q2 CY2025 is $0.91 at the midpoint, roughly in line with what analysts were expecting Operating Margin: 4.8%, up from 1.8% in the same quarter last year Market Capitalization: $13.56 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Samik Chatterjee (JPMorgan): Asked about the timing and impact of new product launches; CEO Jim Anderson stated 1.6T transceivers are expected to ramp this year, with broader adoption following early customer qualifications. Simon Leopold (Raymond James): Inquired about inventory levels and technology mix for transceivers; Anderson clarified there is no apparent inventory buildup and over half of transceiver revenue now comes from EML-based products. Thomas O'Malley (Barclays): Sought details on the financial impact of exiting the silicon carbide device business; Anderson noted this segment was pre-revenue, so its closure had minimal direct revenue impact. Papa Sylla (Citigroup): Questioned telecom segment growth drivers; CFO Sherri Luther identified data center interconnect as the main source of growth, with traditional telecom sentiment remaining cautiously positive. Meta Marshall (Morgan Stanley): Asked about industrial end market outlook; Anderson confirmed the cautious stance is due to macro uncertainty, not customer order pull-forwards. In the coming quarters, our analysts will monitor (1) the pace of adoption and revenue contributions from new transceiver generations, especially 1.6T and 3.2T products, (2) the effectiveness of cost reduction and yield improvement initiatives in driving continued margin expansion, and (3) signs of stabilization or growth in industrial and traditional telecom markets. Execution on portfolio optimization and capacity expansion will remain important markers for sustained performance. Coherent currently trades at $88.50, up from $69.62 just before the earnings. Is there an opportunity in the stock?The answer lies in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Top 10 highest-paid CEOs in the US for FY 2024-25: 4 Indian-origin CEOs in the list
Top 10 highest-paid CEOs in the US for FY 2024-25: 4 Indian-origin CEOs in the list

Indian Express

time09-06-2025

  • Business
  • Indian Express

Top 10 highest-paid CEOs in the US for FY 2024-25: 4 Indian-origin CEOs in the list

Amid a highly volatile and uncertain environment driven by geopolitical and trade-tariff tensions, the chief executives (CEOs), the main business drivers of big corporations, are playing a significant role in navigating risks and making strategic decisions for profits and overall success. Despite these pressures, the position is accompanied by highly lucrative compensation packages; last year, the CEOs' salary levels worldwide soared to unprecedented figures, driven by a mix of high base pay, lucrative stock options, and performance-based bonuses. Last year, the CEO compensation among the largest U.S. companies continued to rise, with the median total pay package rising to $25.6 million, the annual Equilar 100 list reported, reflecting a 9.5% increase from the previous year; however, it was at a slower pace than the 11.4% growth recorded in 2023. In 2024, the most significant driver of CEO pay growth was the rise in stock awards. Its median value rose to 40.5% year-on-year and $18.6 million, making up approximately 73% of the total median CEO compensation. Furthermore, the 2025 Equilar 100 highlighted only six women on the list of highest-paid CEOs, with their median compensation at $24.5 million last year. At the top of the overall list was Jim Anderson, the CEO of Coherent, whose total compensation amounted to $101.5 million. Following next is Starbucks' CEO, Brian Niccol, who assumed the role in September 2024, has a total compensation of $95.8 million. For both, more than 90% of their compensation came from long-term equity awards. In a notable mention, the list features four Indian-origin CEOs leading major U.S. companies: Satya Nadella of Microsoft, Nikesh Arora of Palo Alto Networks, Shantanu Narayen of Adobe, and Rajiv Ramaswami of Nutanix, highlighting the growing presence and impact of Indian-origin leaders in global business. Source: 2025 Equilar 100 List Methodology: The study provides an outlook of the largest CEO pay packages among U.S. companies with $1 billion or more in revenue by analysing companies that filed proxy statements by March 31, 2025—the midpoint of proxy season. Cherry Gupta is an Assistant Manager - Content at The Indian Express. She is responsible for crafting compelling narratives, uncovering the latest news and developments, and driving engaging content based on data and trends to boost website traffic and audience engagement. One can connect with her on LinkedIn or by mail at ... Read More

Turkish-built CalMac ferry completes first sea trials
Turkish-built CalMac ferry completes first sea trials

Yahoo

time05-06-2025

  • Business
  • Yahoo

Turkish-built CalMac ferry completes first sea trials

The first CalMac ferry being built by a shipyard in Turkey has completed its initial set of sea trials. MV Isle of Islay is one of four new ferries being built for Scotland's west coast routes by the Cemre shipyard at Yalova. The contract was awarded in March 2022 with delivery expected last October but after a series of delays it is now likely to enter service later this year. CalMac has extended the charter of the catamaran Alfred for a further five months to provide extra capacity while it awaits the arrival of new vessels. Representatives from CalMac, ferries procurement body CMAL and UK regulators were present as MV Isle of Islay underwent eight days of technical trials off the Turkish coast. CMAL said it now hoped to provide an updated delivery date once a second set of sea trials have been conducted during the summer. Director of vessels Jim Anderson added: "There is a great feeling of momentum following the successful completion of this first phase of sea trials." CMAL has previously said the delays in construction are partly due to the impact of the 2023 Turkish earthquake and global supply chain problems. Fresh delays to Turkish-built CalMac ferries Turkish-built CalMac ferry successfully launched The new "Islay-class" ferries have conventional diesel engines, used to generate electricity for electric motors, and also large batteries which can provide power when manoeuvring in harbour. They will be the first large vessels in the CalMac fleet fitted with a Voith Schneider propulsion system, which uses vertical spinning blades instead of a traditional propeller and rudder. The next stage of construction will involve installing the batteries and testing how the ships perform in harbour. CalMac has warned it faces another difficult summer due a shortage of vessels and potential breakdowns of its ageing fleet. MV Glen Sannox, built by the Ferguson shipyard, entered service in January on the Arran route but other large vessels have been out of action, and one vessel, MV Hebridean Isles, was retired in November. The situation should start to ease next week when the old Arran ferry MV Caledonian Isles returns to service after 16 months of repairs. The 32-year-old ship is expected back from 12 June, providing the first Arran sailings out of Ardrossan since January because Glen Sannox is too large to fit and has to sail from Troon instead. CalMac has also extended the charter for MV Alfred from Pentland Ferries until October at a cost believed to be around a million pounds a month. The catamaran has been on charter now since the spring of 2023, meaning the charter fees are far in excess of the £14m which the vessel cost to build. MV Isle of Mull is currently in dry dock for the fitting of a replacement evacuation chute system after a fault left it restricted to carrying just 45 passengers. While no date for the arrival of the new ferry MV Isle of Islay has been announced, it should be in service later this year, with three similar vessels following on at six monthly intervals. MV Glen Rosa, sister ship of MV Glen Sannox, is still being fitted out at the Ferguson shipyard in Port Glasgow. The two ships are larger and have more complex dual-fuel gas propulsion systems, but Glen Rosa is now expected to be delivered between April and June next year.

Turkish-built CalMac ferry completes first sea trials
Turkish-built CalMac ferry completes first sea trials

BBC News

time05-06-2025

  • Business
  • BBC News

Turkish-built CalMac ferry completes first sea trials

The first CalMac ferry being built by a shipyard in Turkey has completed its initial set of sea Isle of Islay is one of four new ferries being built for Scotland's west coast routes by the Cemre shipyard at Yalova. The contract was awarded in March 2022 with delivery expected last October but after a series of delays it is now likely to enter service later this year. CalMac has extended the charter of the catamaran Alfred for a further five months to provide extra capacity while it awaits the arrival of new vessels. Representatives from CalMac, ferries procurement body CMAL and UK regulators were present as MV Isle of Islay underwent eight days of technical trials off the Turkish coast. CMAL said it now hoped to provide an updated delivery date once a second set of sea trials have been conducted during the summer. Director of vessels Jim Anderson added: "There is a great feeling of momentum following the successful completion of this first phase of sea trials."CMAL has previously said the delays in construction are partly due to the impact of the 2023 Turkish earthquake and global supply chain problems. The new "Islay-class" ferries have conventional diesel engines, used to generate electricity for electric motors, and also large batteries which can provide power when manoeuvring in harbour. They will be the first large vessels in the CalMac fleet fitted with a Voith Schneider propulsion system, which uses vertical spinning blades instead of a traditional propeller and rudder. The next stage of construction will involve installing the batteries and testing how the ships perform in harbour. When will CalMac's ferry shortage ease? CalMac has warned it faces another difficult summer due a shortage of vessels and potential breakdowns of its ageing fleet. MV Glen Sannox, built by the Ferguson shipyard, entered service in January on the Arran route but other large vessels have been out of action, and one vessel, MV Hebridean Isles, was retired in situation should start to ease next week when the old Arran ferry MV Caledonian Isles returns to service after 16 months of 32-year-old ship is expected back from 12 June, providing the first Arran sailings out of Ardrossan since January because Glen Sannox is too large to fit and has to sail from Troon instead. CalMac has also extended the charter for MV Alfred from Pentland Ferries until October at a cost believed to be around a million pounds a month. The catamaran has been on charter now since the spring of 2023, meaning the charter fees are far in excess of the £14m which the vessel cost to build. MV Isle of Mull is currently in dry dock for the fitting of a replacement evacuation chute system after a fault left it restricted to carrying just 45 passengers. While no date for the arrival of the new ferry MV Isle of Islay has been announced, it should be in service later this year, with three similar vessels following on at six monthly intervals. MV Glen Rosa, sister ship of MV Glen Sannox, is still being fitted out at the Ferguson shipyard in Port Glasgow. The two ships are larger and have more complex dual-fuel gas propulsion systems, but Glen Rosa is now expected to be delivered between April and June next year.

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