DOCSLIB.ORG

Annual Report 2007 2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2007 2 2007 Annual Report 2007 2 Contents Key Figures 3 Highlights 5 A Brief Presentation 6-7 Directors’ Report 2007 8-13 Accounts - Bonheur Group of companies 14-69 Income Statement 14 Statement of Recognised Income and Expense 15 Balance Sheet 16-17 Cash Flow Statement 18 Notes 19-69 Accounts - Bonheur ASA 70-87 Income Statement 70 Balance Sheet 71 Cash Flow Statement 72 Accounting Principles 73 Notes 74-87 Auditor’s Report 88 Corporate Governance 89-90 Fleet List 91 Addresses 93 ...at a glance 2 Bonheur ASA - Annual Report 2007 3 Key figures (consolidated accounts) IFRS NGAAP (NOK million) 2007 2006 2005 2004 2003 Income statement Operating income 7 765.9 1 588.3 1.3 1.4 350.5 Operating profit / loss (-) 2 927.1 311.7 -35.4 -16.6 -53.1 Share of profit in associates 4.2 681.1 741.5 849.7 211.3 Net finance income / expense (-) 195.3 -58.5 19.6 61.7 0.3 Profit before tax 3 126.6 934.3 725.7 894.8 158.4 Tax income / expense (-) -442.0 40.1 -2.5 -14.1 -24.0 Net profit from continuing operations 2 684.6 974.5 723.2 880.6 134.4 Net profit / (-) loss from discontinued operations 0.0 0.0 143.5 -48.8 -17.1 Profit for the year 2 684.6 974.5 866.7 831.8 117.3 Minority interests 1 180.6 135.6 0.0 0.0 -0.2 Profit for the year (majority share) 1 504.0 838.9 866.7 831.8 117.5 Balance sheet Non-current assets 13 651.0 13 182.7 4 617.0 3 685.4 5 068.6 Current assets 7 650.5 5 350.3 233.3 68.0 320.8 Equity ex minority interests 5 536.5 5 174.6 4 440.0 3 217.2 3 781.0 Minority interests 4 715.9 3 798.4 0.0 0.0 0.0 Non-current liabilities 7 591.6 7 583.3 328.3 458.5 1 294.1 Current liabilities 3 457.2 1 976.6 82.0 77.7 314.3 Total assets / total equity and liabilities 21 301.4 18 533.0 4 850.3 3 753.4 5 389.4 Liquidity Cash and cash equivalents per 31 December 1) 5 263.6 3 581.3 168.2 36.3 180.5 Net change in cash and cash equivalents 1) 2 165.1 3 446.0 126.0 -13.6 15.0 Net cash from operating activities 1) 1 516.6 561.5 5.2 105.5 31.8 Current ratio 2) 221 % 271 % 285 % 88 % 102 % Capital Equity-to-assets ratio 3) 48 % 48 % 92 % 86 % 70 % Share capital 51.0 51.0 51.0 51.0 51.2 Total number of shares outstanding 4) 40 789 308 40 789 308 10 197 327 10 197 327 10 242 327 Key figures per share (Amounts in NOK) Market price 31 December 4) 245 268.00 161.75 68.00 45.00 Dividend per share 4) 17.8 7.00 3.75 2.50 1.25 RISK per share (1 January) 4) - -1.25 -3.10 -1.53 -1.20 1) In accordance with cash flow statement. 2) Current assets as per cent of current liabilities. 3) Equity as per cent of total assets. 4) In 2nd quarter 2006 the existing shares in the Company were split in the proportion four shares for every share held. Previous years’ figures have been restated and made comparable with 2006. Due to different structure in the Group as from 4th quarter 2006, the figures are not directly comparable. Minority interests in the Bonheur Group of companies are presented in the income statement and the balance sheet. The minority interests consist of 46.58% of Fred. Olsen Energy ASA, 46.87% of Ganger Rolf ASA, 38.46% of Fred. Olsen Production ASA and 58,9% of Protura AS. 3 Bonheur ASA - Annual Report 2007 Bonheur Group of companies *) Total revenues EBITDA 8 000 NOK million 4 000 NOK million 7 000 3 600 6 000 3 200 5 000 2 800 4 000 2 400 3 000 2 000 05 06 07 05 06 07 Energy services Revenues EBITDA 6 000 NOK million 3 500 NOK million 4 800 2 800 3 600 2 100 2 400 1 400 1 200 700 0 0 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 Total Offshore drilling Floating production Total Offshore drilling Floating production Renewable energy Revenues EBITDA 300 NOK million 250 NOK million 240 200 180 150 120 100 60 50 0 0 05 06 07 05 06 07 Total Total Shipping Revenues EBITDA 2 500 NOK million 1 250 NOK million 2 000 1 000 1 500 750 1 000 500 500 250 0 0 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 05 06 07 Total Tankers Cruise Other shipping Total Tankers Cruise Other shipping Other investments Revenues EBITDA 60 NOK million 80 NOK million 50 40 40 0 30 -40 20 -80 10 -120 05 06 07 05 06 07 Total Total *) The segment information is proforma as shown in note 34. 5 Highlights 2007 Energy services Offshore Drilling Continued strong markets within offshore drilling Several new offshore drilling contracts, estimated contract value of USD 1 134 million Bulford Dolphin sold at USD 211 million, sales gain of NOK 1 041 million Floating Production Private placement, IPO and subsequent stock exchange listing of Fred. Olsen Production in 1st half 2007, gross proceeds of NOK 1 238 million Renewable energy Construction of the wind farm Crystal Rig II (117 MW) in Scotland commenced 7 years Power Purchase Agreement for Crystal Rig II with EdF Energy plc Shipping Cruise Lengthening of MV Balmoral and MV Braemar by approx. 30 meters each decided, agree- ments entered into with Blohm + Voss, Hamburg Tankers Sale of the suezmax vessel Knock Stocks, gross sales gain of NOK 108 million Sales agreement suezmax newbuilds, est. sales gain of USD 16.5 million Other Shipping activities Sale of ro-ro vessel Norcliff, sales gain of NOK 42 million Other investments Gain on sale of shares in TusenFryd AS of NOK 124 million Bonheur ASA - Annual Report 2007 5 6 Bonheur ASA – a brief presentation Bonheur ASA (the “Company”) is a company domiciled in Norway. The consolidated financial state- ments of the Company as at and for the year ended 31 December 2007 comprise the Company and its subsidiaries (for accounting purposes only in the following referred to as the “Group of companies”). Bonheur ASA has investments in several business activities, based upon its long term commitment to shipping, offshore drilling, floating production and renewable energy as well as to the travel and leisure time sector. Investments are normally made in cooperation with the listed subsidiary Ganger Rolf ASA. At year-end 2007 the main investments include the following business segments: Energy services The business segment offshore drilling consists The activities within floating productioncom - of the Bonheur Group of companies’ ownership prise the ownership of 61.5 % of Fred. Olsen of 53.4 % of the offshore drilling contractor Fred. Production ASA (together with subsidiaries Olsen Energy ASA (together with subsidiaries “FOP”), which has been listed on Oslo Stock “FOE”), which is listed on Oslo Stock Exchange. Exchange since May 2007. FOP owns and op- FOE owns and operates a fleet of eight drilling erates a fleet of seven Floating Production units and one accommodation rig. In addition Storage and Offloading (FPSO’s) and Float- FOE owns the ship yard Harland & Wolff in Bel- ing Storage and Offloading (FSO’s) vessels for fast. Up to November 2007 the business seg- lease to clients in the international oil and gas ment also included the ownership of the semi market. FOP has been active in the oil & gas submersible drilling rig Bulford Dolphin, which production business since 1994. had been operating in pool with four FOE-owned drilling rigs. The rig was subsequently sold. FOP manages its activities from offices in Sin- gapore, Norway, Nigeria, Gabon and Houston. FOE was established in April 1997 through the merger of the offshore activities of Ganger Rolf FPSO’s provide cost effective oil production ASA and Bonheur ASA and was listed on Oslo for smaller oil fields in areas where infrastruc- Stock Exchange in October the same year. ture may be limited. The company’s market is primarily in benign and intermediate environ- Dolphin Drilling Ltd based in Aberdeen, Scot- ments. FOP is well established in West Africa land, Dolphin AS in Stavanger and Dolphin and is also expanding into the Asian and South Drilling Pte. Ltd in Singapore form the main American markets. part of FOE’s drilling division. It is recognised as a medium-sized international drilling op- FOP’s current fleet includes three FPSO’s (one erator and has had a leading position within jointly owned) and two FSO’s. A further FPSO offshore drilling services for more than 35 is under conversion at Drydocks World Dubai years. The fleet includes 7 semi-submersible and will be operational from 2008. drilling rigs, of which one deepwater unit, one ultra-deepwater drill ship and one semi-sub- In 2007 FOP’s total revenues amounted to NOK mersible accommodation unit. 392 million and EBITDA was NOK 122 million. The principal activities of Harland and Wolff Group Plc.
Load more

Recommended publications
  • Shipbuilders to the World: 125 Years of Harland and Wolff, Belfast 1861-1986’ by Michael Moss and John R
    SHIPBUILDERS TO THE WORLD Introduction The following is extracted and slightly edited from the book ‘Shipbuilders to the World: 125 years of Harland and Wolff, Belfast 1861-1986’ by Michael Moss and John R. Hume published in 1986. The book was intended as a celebratory appraisal of the firm and as such focused mostly on the development of the shipyard. Although it was Edward Harland that began the firm, my interests are more familial than commercial and so the extracts below highlight the roles played by my great, great uncle Wolff and his uncle Gustav Schwabe. Moss and Hume write: During his apprenticeship Edward Harland had become friendly through his uncle, Dr. Thomas Harland, with Gustav Christian Schwabe. Thomas Harland had graduated in medicine from the University in Edinburgh in 1822 and had subsequently practiced in Salford. In 1842 he had married Mary Dugdale, niece of John Dugdale of Dovecot, a powerful Liverpool and Manchester merchant. Some years later Gustav Schwabe had married John Dugdale’s daughter, Helen (right). Gustav had been born in Hamburg in 1813, the son of Philipp Benjamin Schwabe, a wealthy Jewish merchant. During June 1819, along with the rest of his family, Gustav was baptised into the Lutheran church (source Staats Archiv Hamburg). In the 1820s many members of the Jewish community in Hamburg established businesses in Britain where trading conditions were more liberal than in Germany. The Schwabe family participated in this trend. Salis Schwabe, Gustav's uncle, set up a calico printing business in Manchester and cousins M. M. and H. L Schwabe opened a merchant house with a branch in Glasgow.
    [Show full text]
  • Navy News Week 35-2
    NAVY NEWS WEEK 35-2 27 August 2018 Russia debates giving up on building helicopter-carrier ships for its Navy Meduza 14:48, 20 august 2018 There‟s some confusion in Russia‟s shipbuilding business about whether or not the country is done trying to build helicopter carriers. Russia‟s industry and trade minister, Denis Manturov, said in an interview with the news agency Interfax on August 20 that these projects, “in a pure sense of the word,” are over, though the Navy will retain a few such ships. (Manturov added that Russia is still discussing the construction of a second aircraft carrier.) Almost immediately after the interview was published, however, a “high-placed source in Russia‟s shipbuilding industry” told RIA Novosti that the Defense Ministry hasn‟t yet made up its mind about the future of helicopter-carrier construction in Russia. In June 2017, Viktor Bursuk, the deputy head of Russia‟s Navy, said the country planned to acquire two helicopter-carrier ships and complete work on a new aircraft carrier before 2025. Moscow wanted to buy two Mistral-class helicopter-carrier ships from France, but the deal fell through in 2015, following the annexation of Crimea. Those vessels, built for Russia, were ultimately sold to Egypt. Source: https://meduza.io Competition to build cut-price frigates for Royal Navy relaunched Alan Tovey, Industry Editor 20 August 2018 • 1:35pm A computer-generated image of how the Type 31e ships could look The competition to build budget frigates for the Royal Navy has been relaunched after it was halted last month, with defence chiefs saying they had received “insufficient compliant bids”.
    [Show full text]
  • Annual Report 2007 2
    2007 Annual Report 2007 2 Contents Key Figures 3 Highlights 5 A Brief Presentation 6-7 Directors’ Report 2007 8-15 Accounts - Ganger Rolf Group of companies 16-52 Income Statement 16 Statement of Recognised Income and Expense 17 Balance Sheet 18-19 Cash Flow Statement 20 Notes 21-52 Accounts - Ganger Rolf ASA 53-71 Income Statement 53 Balance Sheet 54-55 Cash Flow Statement 56 Accounting Principles 57 Notes 58-71 Auditor’s Report 72 Corporate Governance 73-74 Fleet List 75 Addresses 77 ...at a glance 2 Ganger Rolf ASA - Annual Report 2007 3 Key figures (consolidated accounts) IFRS NGAAP (NOK million) 2007 2006 2005 2004 2003 Income statement Operating income 38.7 1.8 2.6 3.3 350.5 Operating result -26.5 -39.8 -34.0 -14.7 -54.4 Share of profit in associates 1 222.1 713.7 530.9 675.7 176.2 Net finance income 96.2 29.8 124.1 102.5 14.7 Profit before tax 1 291.8 703.7 621.0 763.6 136.5 Tax expense (-) -60.8 -1.6 -2.4 -27.6 -26.5 Net profit from continuing operations 1 231.0 702.1 618.6 736.0 110.0 Net profit/ (-) loss from discontinued operations 0.0 0.0 143.5 -48.8 -17.1 Profit for the year 1 231.0 702.1 762.1 687.1 92.9 Minority interests 0.0 0.0 0.0 0.0 -0.2 Profit for the year (majority share) 1 231.0 702.1 762.1 687.1 93.1 Balance sheet Non-current assets 4 948.1 3 986.0 3 736.2 3 063.5 3 949.9 Current assets 839.7 795.3 237.0 68.1 321.2 Equity 5 267.2 4 616.3 3 697.7 2 687.6 2 738.8 Non-current liabilities 110.4 153.1 193.2 366.0 1 218.9 Current liabilities 410.2 11.9 82.3 78.0 313.4 Total assets / total equity and liabilities 5 787.8
    [Show full text]
  • Sunrise in Korea, Sunset in Britain: a Shipbuilding Comparison
    Copyright By Dan Patrick McWiggins 2013 The Dissertation Committee for Dan Patrick McWiggins certifies that this is the approved version of the following dissertation: SUNRISE IN THE EAST, SUNSET IN THE WEST: How the Korean and British Shipbuilding Industries Changed Places in the 20 th Century Committee: __________________________ William Roger Louis, Supervisor ____________________________ Gail Minault ____________________________ Toyin Falola ____________________________ Mark Metzler ____________________________ Robert Oppenheim SUNRISE IN THE EAST, SUNSET IN THE WEST: How the Korean and British Shipbuilding Industries Changed Places in the 20 th Century by Dan Patrick McWiggins, B.A., M.A. Dissertation Presented to the Faculty of the Graduate School of The University of Texas at Austin in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy The University of Texas at Austin December 2013 DEDICATION This dissertation is dedicated to the memories of Walt W. and Elspeth Rostow Their intellectual brilliance was exceeded only by their kindness. It was an honor to know them and a privilege to be taught by them. ACKNOWLEDGEMENTS This dissertation has been a long time in the making and it would not have been possible without the help of many people around the world. I am particularly indebted to Professor William Roger Louis, who has been incredibly patient with me over the eight years it has taken to get this written. Regular work weeks of 60+ hours for years on end made finding the time to advance this project much more difficult than I anticipated. Professor Louis never lost faith that I would complete this project and his encouragement inspired me to keep going even when other commitments made completion look well-nigh impossible.
    [Show full text]
  • The United Kingdom's Naval Shipbuilding Industrial Base: The
    CHILD POLICY This PDF document was made available CIVIL JUSTICE from www.rand.org as a public service of EDUCATION the RAND Corporation. ENERGY AND ENVIRONMENT HEALTH AND HEALTH CARE Jump down to document6 INTERNATIONAL AFFAIRS NATIONAL SECURITY The RAND Corporation is a nonprofit POPULATION AND AGING research organization providing PUBLIC SAFETY SCIENCE AND TECHNOLOGY objective analysis and effective SUBSTANCE ABUSE solutions that address the challenges TERRORISM AND facing the public and private sectors HOMELAND SECURITY TRANSPORTATION AND around the world. INFRASTRUCTURE Support RAND Purchase this document Browse Books & Publications Make a charitable contribution For More Information Visit RAND at www.rand.org Explore RAND Europe View document details Limited Electronic Distribution Rights This document and trademark(s) contained herein are protected by law as indicated in a notice appearing later in this work. This electronic representation of RAND intellectual property is provided for non- commercial use only. Permission is required from RAND to reproduce, or reuse in another form, any of our research documents. This product is part of the RAND Corporation monograph series. RAND monographs present major research findings that address the challenges facing the public and private sectors. All RAND mono- graphs undergo rigorous peer review to ensure high standards for research quality and objectivity. The United Kingdom’s Naval Shipbuilding Industrial Base The Next Fifteen Years Mark V. Arena Hans Pung Cynthia R. Cook Jefferson P. Marquis Jessie Riposo Gordon T. Lee Prepared for the United Kingdom‘s Ministry of Defence Approved for public release; distribution unlimited The research described in this report was sponsored by the United King- dom’s Ministry of Defence.
    [Show full text]
  • Harland and Wolff GROUP PLC
    Harland and Wolff GROUP PLC QUEEN'S ISLAND BELFAST BT3 9DU TEL (028) 9045 8456 FAX (028) 9045 8515 PRESS RELEASE Fred. Olsen Energy acquires property interests of Harland and Wolff BELFAST, 7 February 2001 – Fred Olsen Energy ASA (FOE), the parent company of Harland and Wolff Group PLC, last week released its financial statements for the 4th Quarter 2000 and preliminary results for the full year. Specifically in relation to Harland and Wolff they said : “FOE has extended financial support totalling GBP 89 mill (including a GBP 50 mill loan guarantee) to the yard, secured by the property interests (including Titanic Quarter), and proceeds from the claims against Global Marine. “An agreement has now been signed with the Belfast Harbour Commissioners for the commercial development of approximately 100 acres of land adjacent to the city centre of Belfast (Titanic Quarter). A professional project management team is being retained to develop the overall business plan and submit a planning application due to be filed within this summer. “The Company announced on 17 November that the payment from Global Marine of the USD 31 mill. delivery instalment on the drillship Jack Ryan, as awarded by an Arbitration Tribunal, had been turned down by the High Court on appeal. Harland and Wolff has appealed this judgement to the Court of Appeals, which has granted a hearing. “As previously announced, Harland and Wolff’s main claim against Global Marine is subject to arbitration at a later point in time.” Fred. Olsen Energy has today announced that: “In order to further secure its interests, and in an effort to strengthen the balance sheet of Harland and Wolff, a subsidiary of Fred.Olsen Energy ASA has purchased the property interests from Harland and Wolff for a gross consideration of GBP 46 mill.
    [Show full text]
  • Turning the Tide Rebuilding the UK’S Defence Shipbuilding Industry and the Fleet Solid Support Order CAMPAIGNING for MANUFACTURING JOBS
    CAMPAIGNING FOR MANUFACTURING JOBS Turning the Tide Rebuilding the UK’s defence shipbuilding industry and the Fleet Solid Support Order CAMPAIGNING FOR MANUFACTURING JOBS A Making It Report Written by: Laurence Turner, Research and Policy Offer, GMB Photographs on this page, page 10, 19 and 38 are published courtesy of BAE Systems. The pictures depict the QE Carrier, Type 26 and River-class Offshore Patrol Vessel ships which were built by GMB members. All other images used are our own. The picture opposite shows GMB shipbuilding reps meeting MPs and Shadow Ministers in Parliament to discuss this reoprt. Some images in this report are reproduced from a mural commissioned by the Amalgamated Society of Boilermakers, Shipwrights, Blacksmiths and Structural Workers. The mural commemorates GMB’s proud history in shipbuilding and other engineering occupations. Artist: John Warren. A GMB Making It report 1 Contents FOREWORD CAMPAIGNING FOR MANUFACTURING JOBS British shipbuilding is at a crossroads. Executive Summary 3 History 4 As the aircraft carrier programme winds down, there is real uncertainty over the future of the industry. The Government says that it wants to see a shipbuilding ‘renaissance’ but it has not The Royal Fleet Auxiliary and the Fleet Solid Support order 6 introduced the policies that would achieve this aim. Shipbuilding manufacturing is as much a part of our sovereign defence capability as the The RFA 6 warships and submarines that it produces. British yards can still build first class fighting and support ships: the Type 45 destroyer is the envy of the world. We are proud that it was made by Government shipbuilding procurement policy 6 GMB members.
    [Show full text]
  • Introduction to the Harland & Wolff Papers
    INTRODUCTION HARLAND AND WOLFF PAPERS November 2007 Harland and Wolff Papers (D2805) Table of Contents Summary .................................................................................................................2 Deposits of records, 1960s-1990s ...........................................................................3 The content of the archive .......................................................................................5 Terms of access ......................................................................................................7 Other Harland & Wolff records in PRONI.................................................................8 Harland & Wolff records held elsewhere................................................................10 Public Record Office of Northern Ireland 1 Crown Copyright 2007 Harland & Wolff Papers Summary The Harland & Wolff archive in PRONI comprises c.2,000 files, c.200 volumes and c.16,000 documents, 1861-1987, documenting most aspects of the history of Belfast's famous shipbuilding firm. The Harland & Wolff archive is one of the most extensive business archives held in the Public Record Office. But it was not until Michael Moss and John R. Hume, who had earlier completed a similar account of the history of the Scottish shipbuilders, William Beardmore & Co. of Glasgow, undertook to write the company's official history published in 1986 as Shipbuilders to the World, that the various departments in Harland & Wolff began to yield up their records for ultimate deposit in PRONI.
    [Show full text]
  • The National Shipbuilding Strategy: January 2018 by Louisa Brooke-Holland Update
    BRIEFING PAPER Number, 9 January 2018 The National Shipbuilding Strategy: January 2018 By Louisa Brooke-Holland update Summary The Government published a National Shipbuilding Strategy in September 2017, fulfilling a commitment made in the 2015 Strategic Defence and Security Review. The Strategy completely overhauls how the Royal Navy will procure and build its new fleet of general purpose frigates. The Government has already committed to a fleet of eight Type 26 frigates, the first of which will enter service in the mid-2020s. The Shipbuilding Strategy focuses more on the five cheaper frigates, the Type 31e. The Government remains committed to building Navy warships in the UK but the design and build will be open to competition rather than via a non-competitive single source contract with BAE Systems. Exportability will be built into the design of the new Type 31e frigate fleet, to counter the Navy’s poor record in exporting new ships. Lastly, the strategy sets out an aggressive timetable with the main contract to be placed in early 2019 and an in-service date of 2023 for the first in class for the Type 31e. The Royal Navy is in the midst of a major programme to replace and renew its surface warships. Six new destroyers (Type 45) entered service in the first half of this decade and the first of two new aircraft carriers, HMS Queen Elizabeth, was formally commissioned into the fleet in December 2017. The focus now is on the Navy’s frigate fleet and that is the subject of the National Shipbuilding Strategy.
    [Show full text]
  • Arbon, Anthony Lyle PRG 1190/6 Special List ______
    _____________________________________________________________________________________ Arbon, Anthony Lyle PRG 1190/6 Special List _____________________________________________________________________ 1. Australia. Shipbuilders. Arranged alphabetically by name of shipbuilder. See Item List for PRG 1190/6/1. Box 1 A-Z 2. World. Shipbuilders Arranged alphabetically by name of shipbuilder. See Item List for PRG 1190/6/2 Box 1 A-R Box 2 S-Z 3. Shipbuilding. 5 envelopes 0.02cm Arranged under Australia, then World. In PRG 1190/6/2 Box 2 4. Ship repairers. 4 envelopes 0.02cm Arranged under Australia, then World. In PRG 1190/6/2 Box 2 5. Shipbreakers and shipbreaking 2 envelopes....0.01cm In PRG 1190/6/2 Box 2 6. Shipbrokers (sellers of ships) 1 envelope 0.01cm In PRG 1190/6/2 Box 2 PRG 1190/6 Special list Page 1 of 5 _____________________________________________________________________________________ Part 1 : Shipbuilders Reg Adams Clayton and Co Adelaide Ship Construction Pty Ltd, Birkenhead, South Australia Atlas Engineering Austral Ships Pty Ltd, Henderson, Western Australia Australian Fishing Industries Ltd, Worth, Sydney, NSW Australian Ship Building Industries Pty Ltd (W.A.) Australian Submarine Corporation Pty Ltd Wynne S. Breden Pty Ltd (Newcastle, NSW) Broken Hill Pty Ltd (Whyalla) Bundeng Ltd Callen Brothers Carrington Slipways Pty Ltd Cockatoo Dockyards Pty Ltd Colan Shipbuilders Pty Ltd Commonwealth Naval Dockyard (Williamstown, Vic.) Eglo Engineering Pty Ltd Eken and Doherty Pty Ltd Evans Deakin and Co Ltd George Frost Geraldton
    [Show full text]
  • Connors EBHA 2011.Odt
    The long drawn of death and grieving process of the British Shipbuilding Industry in perspective 1960 1980 A long term view Duncan Philip Connors University of Cambridge European Business History Association Annual Conference Athens 24th August 2011 1 INTRODUCTION Eleven years ago Hugh Pemberton argued in Public Administration for the integration of the ' policy networks of Martin Rhodes with the social learning theories of Peter Hall (Pemberton, 2000, Hall 1993 and Rhodes, 1992, 1994, 1995 and 1997). Pemberton stated that the conventional 'Westminster' model is restricted in its ability to comprehend subtle administrative nuances and yet the policy network alternative of Rhodes is in itself restricted in its ability to deal with the typology and internal dynamics (Pemberton 2000, pp. 771-772). Pemberton therefore proposed to integrate the policy network model with the work of Hall on social learning a complex to developed a nuanced schema that would incorporate Rhodes network classifications with a the Hall model of change (Pemberton 2000, pp. 772-776, see also Rhodes, 1997 pp. 36-37, Hall, 1993 pp. 281-287). However, with the development of the varieties of capitalism literature and in particular the institutional complementarities proposed by Hall in the early part of century there is scope for further development of Pemberton's ideas beyond his Treasury centred view of the 'Keynesian Plus' period of economic policy in the early 1960s (Hall & Soskice, 2001, Howell, 2003, Morgan, 2005 and Hancke, Rhodes and Thatcher, 2007). This paper will demonstrate the relevance of Pemberton's model to current debated using recent research into industrial policy under the Harold Wilson Labour government of 1964-1970 by focussing on the failure of the Shipbuilding Inquiry Committee and Shipbuilding Industry Board to prevent the collapse of the British shipbuilding industry.
    [Show full text]
  • Appledore Shipyard to Reopen Following £7 Million Sale 25 Aug 2020
    Appledore shipyard to reopen following £7 million sale 25 Aug 2020 This is a huge boost for the whole community in North Devon Infrastrata plc, which recently acquired Belfast’s Harland and Wolff, have bought the Devon yard for £7 million. The 200-year-old yard will be renamed H&W (Appledore). Infrastrata say that whilst the yard only comes with one employee - the current site manager – it believes the workforce can be very quickly ramped up upon execution of contracts, discussions for which are already being undertaken with both Government and private vessel owners. The historic shipyard closed back in March 2019, despite a wide campaign fought by workers unions and the community as a whole. Matt Roberts, GMB Organiser, said: "We are absolutely delighted with the confirmation that the yard will reopen. “We have always firmly believed that the yard can be viable and thrive in the right hands. “Our members will be excited to be teaming up with the iconic Harland & Wolff shipbuilding family and working closely with the famous Belfast yard. “This is a huge boost for the whole community in North Devon." Jake Mclean, Appledore Shipbuilder, said: "We all welcome the news the iconic Harland and Wolff yard has acquired our Appledore shipyard. “This is great news after what has been a turbulent two years. “Workers are looking forward to getting back building ships again in our famous yard.” Ross Murdoch, GMB National Officer & CSEU Chair, said: "This is fantastic news for the local community and recognition of the world-class shipbuilding skills of the former Appledore workers.".
    [Show full text]