December 20, 2024
Audit Scotland says in a report:
- The future of Ferguson Marine Port Glasgow (FMPG) is uncertain, with no work secured beyond the completion of GLEN ROSA, expected in September 2025. While the yard recently delivered the delayed GLEN SANNOX, significant investment is needed to remain competitive.
- FMPG currently relies on Scottish Government funding, guaranteed until 2026, and lacks contracts beyond the two ferries.
- Hopes to secure work under the small vessel replacement programme were impacted by UK subsidy laws, requiring FMPG to compete with five other firms for the tender.
- Auditors have highlighted serious governance issues, including unauthorised employee exit packages exceeding public sector thresholds and improper contract changes leading to £48,000 in underpaid taxes. Addressing these governance failings is critical for the yard’s future stability.
Publication: The 2023/24 audit of Ferguson Marine Port Glasgow (Holdings) Limited