The Cromarty Firth Port Authority runs 2 joint ventures .
Cruise Highlands, which has been operational since pre-trust port days (2003) and has helped built the cruise ship business up to what it is today through use of the Admiralty Pier. The port have publicly pulled out of this (see http://www.ross-shirejournal.co.uk/News/Invergordon-25m-investment-plan-amidst-cruise-business-shake-up-26082016.htm) which presumably underlies the decision to go it alone and spend £25 million on further expansion.
There is also Port of Cromarty Firth Services Ltd (PoCFS) – a joint venture between the CFPA (50% shareholding) with private sector investors – Coillemore Ltd (25% shareholding whose director is Edmund MacLellan) and Martin Brayshaw (25% shareholder).
In the last available return to Companies House, the Port has given £459,000 worth of loan notes to this company and the private shareholders have each given £175,000 in loan notes. Who benefits from PoCFS? What publicly funded assets does this company use? Given that there are other competitors providing similar services why are they not identified on the CFPA website? They are surely stakeholders too and deserve a level playing field to compete for business. Would the £459,000 siphoned off the Port’s surplus not fund the interest payments for the Phase 4 development instead of imposing STS upon community stakeholders that do not want this?
