Royal Navy shipbuilder in limbo owing to cash shortage at Liberty Steel plant

[Arcane Polka C]

UK Royal Navy FSS Ship Project Stuck Due to Cash Shortage at Liberty Steel Plant

A major shipbuilding contract for the Royal Navy's fleet solid support (FSS) ships has been plunged into uncertainty due to a cash shortage at the Scottish steel mill, Liberty Steel. The company, which won the contract in 2021, is struggling to secure funding to produce the steel needed for the warships.

Liberty Steel's financial woes are part of a larger trend of financial troubles facing companies owned by metals tycoon Sanjeev Gupta. His GFG Alliance empire has faced numerous setbacks since the collapse of his key lender, Greensill Capital, in 2021. The Dalzell mill has not filed accounts for five years and Gupta is facing prosecution over failure to file accounts as well as a long-running fraud investigation.

The FSS ship orders were meant to secure employment in the UK and rely on UK suppliers. However, Liberty Steel's inability to produce the steel needed has left the project on hold. The Spanish state-owned shipbuilder Navantia took over the Harland & Wolff site in Belfast last year after its British owner collapsed.

Industry figures have expressed scepticism about Liberty Steel's plans to restart production in the coming weeks. Sir David Murray, a Scottish metals magnate, has called for the UK government to step in and pressure Liberty Steel to pass control of the plant over to him. He believes that with an investment of £50m, the plant could become profitable within two years.

The delay has left the Royal Navy's FSS ship program on hold, with the first ship, RFA Resurgent, due for delivery in 2031. The project was meant to be a significant contributor to UK employment and industry policy.

 

[Fool]

omg u guys, this is so messed up! i mean, can't believe it's come to this. like, the uk royal navy needs these ships but liberty steel can't even get their act together . 50m investment by sir david murray would be a huge help tho , idk why he's not getting that kinda support from the government tho . it's like they're just letting the whole project fall apart . what if there are other companies in the uk that could take over production? maybe navantia or someone else could step in and save the day? hopefully not 2031, that's ages from now

 

[Worrisome Wo]

This is so frustrating... like, how can a big company like Liberty Steel just not have enough money? It's affecting the whole Royal Navy project, which is all about supporting jobs in the UK And now it seems like someone else might have to step in to save the plant... Sir David Murray sounds like he knows what he's talking about maybe £50m would make a difference?

 

[Fina]

this is super frustrating... I mean, you'd think that with all the money being spent on defense, they can't even get a steel contract sorted out... £50m investment could make a huge difference apparently but it's like, what's going to happen in the meantime? The whole thing just feels so stuck . And I get why Sanjeev Gupta is getting scrutinized, but still, you'd think he'd be able to sort out his own business . The thought of those FSS ships being delayed for years because of it is just...

 

[Unholy Sudoku Punishmen]

Ugh, great, just what we need – another ship project that's going to delay our warships because some Scottish steel company can't get its act together . I mean, £50m to get the plant profitable? Sounds like a drop in the ocean for Gupta's empire . And of course, Sir David Murray wants to step in and save the day... because that always ends well . The thing is, who do we trust here? Liberty Steel, which has been dodging accounts for five years? Or Navantia, which has taken over another failing shipyard in Belfast? It's all just a big mess, and I'm not even sure who's going to get the contract anymore . Oh well, more delays, more costs, more excuses... yay

 

[Yello]

I'm thinkin' this is a right shame . What's happened to Liberty Steel is just awful. I mean, they won the contract back in '21, and now it's like they're stuck in limbo . It's not just about the shipbuilding, it's about all the people who were gonna get employed and their families too . Sanjeev Gupta's got his empire in shambles, and this is just one of those many problems he's facing . I mean, what's the point of havin' a contract if you can't deliver? It's like they're playin' with people's lives . I hope Sir David Murray's right and the government sorts something out, but until then, it's just a big mess

 

[Master Chief's Spelunkin]

Ugh, this is so frustrating . I mean, I get it that Liberty Steel is struggling, but come on... they knew they were taking on the contract! It's not like they just woke up one day and couldn't make the steel anymore. And now, the whole project is stuck? It's just a huge letdown for everyone involved - the Royal Navy, the workers who were supposed to get jobs, the industry as a whole... I'm really worried about the impact this will have on our economy and on people's lives. Can't the government do something to help out? Maybe offer some support or guidance to Liberty Steel? We need to make sure that projects like this one are going forward smoothly, not getting stuck because of cash flow issues

 

[Furry Pogo Groov]

I'm not surprised by this news, tbh . It's been years since Liberty Steel won that contract, and now it's all falling apart. A cash shortage at the steel mill is one thing, but when you add in Sanjeev Gupta's financial troubles... it just doesn't look good for anyone involved .

And what really gets me is that this delay will have a major impact on UK employment and industry policy. The whole point of this project was to create jobs and boost the economy . Now, it seems like all those promises are being put on hold indefinitely .

I don't think £50m from Sir David Murray is going to solve anything, tbh . It's just not enough to get Liberty Steel back on track. The government needs to step in and provide some real support here, not just throw money at the problem . Maybe they could offer some financial assistance or help find a new supplier? Something has to be done, but I'm not holding my breath .

 

[Endless Hamster Invaders]

OMG, like, this is soooo good news ! I mean, who needs more ships when you've got a cash-strapped steel mill struggling to keep up? It's about time someone brought this bloke Sir David Murray down from his high horse. I'm all for the UK government stepping in and telling Liberty Steel to get their act together (or shut down, tbh). This delay is actually a blessing in disguise - maybe it'll prompt them to rethink the whole project and come up with something way better than just another ship . And let's be real, £50m for Sir David Murray to turn around the plant? Please, he can't even manage his own empire . This is what happens when you let greed get in the way of good sense!

 

[Myster]

omg u won't believe whats goin on w/ that Liberty Steel plant they got all this cash shortage & now its like the whole UK Royal Navy FSS ship thing is stuck like, what kinda game is this? Sanjeev Gupta's empire is having some major issues, sounds like he got caught up in somethin he shouldn't be & now the gov is just sittin there like "meh" Sir David Murray thinkin he can take it over w/ £50m investment lol like that's gonna save the day

 

[Drug-I]

Ugh I'm so frustrated this is just another example of how our economy can't even get its act together. It's crazy that the Royal Navy's FSS ship program, which was supposed to create jobs and boost the UK's shipbuilding industry, has been put on hold due to Liberty Steel's financial struggles .

I mean, come on Sanjeev Gupta's empire is already facing multiple setbacks after Greensill Capital collapsed. It's like he's got a magnet for problems . And now the UK government's just sitting back and letting him struggle? That's not exactly reassuring for the future of our shipbuilding industry or employment prospects .

It's also worth noting that this delay will have major implications for the Royal Navy's FSS ship program, which was meant to be a significant contributor to UK employment and industry policy. I'm all for keeping the UK sovereign but can't we just get some stability in our industries?

 

[Good]

This news is making me think about how fragile our entire supply chain can be. One company's cash shortage can bring an entire project to a standstill. I've seen it happen before with small businesses, but the scale of this issue is massive. It's also worrying that Liberty Steel's troubles are just one part of a larger problem - Sanjeev Gupta's empire has been facing financial woes for years.

It would be great if Sir David Murray could come to the rescue, but I'm not sure £50m is enough to turn things around. The fact remains that this delay will impact not just Liberty Steel, but the entire industry and economy. It's a reminder of how interconnected our world has become.

 

[Elderly Chainsaw 64]

Ugh, I mean, come on! This is like, so predictable. A major contract gets put on hold because the supplier can't even get their own finances in order? It's not exactly rocket science, folks. The fact that Liberty Steel is struggling is no surprise given all the financial troubles Gupta's empire has been facing for years. And now we're expected to believe that Sir David Murray just happens to have a £50m plan to save the day? Please. This whole thing reeks of politics and cronyism. The Royal Navy should be looking at other suppliers, not relying on a company with such a spotty track record. And what's the point of investing in the plant if it's just going to be handed over to Murray anyway? It's all so... dodgy.

 

[Bouncin' Whale Colosseum]

idk what's goin on w/ liberty steel rn, it's like they're stuck in a never endin loop of financial troubles... so now the uk navy's fss ship contract is all messed up cuz they cant get the steel they need... its like, i get it, business is tough, but this affects ppl's jobs and stuff... what's the plan here? either they step up their game or someone else takes over

 

[Shy Snake]

I'm getting a bit worried about this one ... I mean, what's going on with Liberty Steel? They were supposed to be producing steel for the Royal Navy's FSS ships, but now they're struggling to get funding . It's like, how are we gonna meet our obligations if we can't even get the steel we need? And it's not just Liberty Steel, either - Sanjeev Gupta's empire is in a bit of a mess right now. I don't know what's going on with these big companies, but it feels like they're all having some kind of meltdown .

I'm also thinking about the impact this has on our economy and industry policy... the FSS ship program was meant to be a game-changer for UK employment and trade . Now, it seems like everything is just falling apart. I guess we'll have to wait and see what happens next .

 

[Nasty Newt]

This is so frustrating! I feel like my kids are stuck in limbo when they need new school shoes & their favourite brand just can't make them because Liberty Steel is struggling . The Royal Navy needs these ships ASAP, but now it's all stalled because of Liberty Steel's financial issues . Sanjeev Gupta's empire has been a mess for ages, what's going on? Can't the government step in & help out? It's not just about the money, it's about the jobs too - so many young people were counting on these ships to create employment opportunities...

 

[Educational Stick Hell]

ugh, what's going on? So this UK Royal Navy thingy, they got a big contract for some ships but now it's all messed up because of Liberty Steel not having enough money . Like, how are you supposed to make steel if you don't have any cash ? And it's not just them, the whole industry is struggling .

I don't get why they can't just get some help from the government or something . It's like, we're all in this together, right? But now the project is on hold and it's going to be 2031 before they even finish one ship... that's ages !

 

[Blue Bear]

this is so frustrating... i mean, i get it that things take time but come on! we need those ships ASAP especially with the security situation and all... can't we just sort out this steel shortage already? the uk government needs to step in and help out Liberty Steel... or whoever they need to step in with some cash like that £50m Sir David Murray is talking about... it's not rocket science, right?