State-backed CalMac Ferries has triumphed in a $1.3bn battle for Scottish routes.
It has been named as the preferred bidder by the government for the next contract to operate the Clyde and Hebrides Ferry Services (CHFS) network.
Its bid of £900m ($1.3bn) came in under the £1bn upper limit envisioned by the state, and was enough to beat private company Serco to the punch.
But
