Sweeney presses for shipbuilding finance reform

Scottish Labour MSP Paul Sweeney has urged ministers to treat the proposed four-vessel award to Ferguson Marine as a starting point for wider reform, warning that access to shipbuilding finance remains a barrier to winning commercial contracts.

Speaking in the Scottish Parliament following the statement on the direct award, Sweeney welcomed the programme as critical to the yard’s viability, arguing that a clear demand signal is essential to sustaining shipbuilding on the Clyde.

He said the four-vessel package was “very welcome news indeed” because pipeline visibility is fundamental to maintaining capability. However, he questioned whether the award would be used as a springboard for rebuilding a competitive commercial shipbuilding sector in Scotland.

Sweeney argued that securing a steady flow of work and upgrading facilities to a modern, internationally competitive standard were necessary steps. He added that if Scottish yards are to compete for open market contracts beyond the public sector, structural issues must also be addressed.

In particular, he pointed to shipbuilding finance as a significant constraint. He said that difficulties in accessing appropriate financial backing were currently the main blocker to securing non-public sector contracts, and asked whether the government would move to resolve that issue.

Deputy First Minister Kate Forbes acknowledged Sweeney’s long-standing advocacy on behalf of the yard and agreed that the direct award should be viewed as a “means to an end”.

She said the programme provides work and gives the yard a future, but added that it is not the complete solution. According to Forbes, Ferguson Marine must use the opportunity created by the direct award and associated capital investment to modernise its operations, secure further work and rebuild its reputation to engage effectively with a broader customer base.