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Belfast’s Shipyard Harland & Wolff Denies Funding Rejection

17th May 2024
Harland and Wolff has said negotiations with the UK government are continuing
Harland and Wolff has said negotiations with the UK government are continuing Credit: Belfast Harbour-facebook

The shipyard owner of Belfast’s Harland and Wolff Group has denied that the UK government has refused to give the group a £200m loan guarantee which is seen as crucial to the yard’s future.

As The Times newspaper reported on Wednesday, the Treasury is set to block the £200m guarantee of the London-listed Harland & Wolf Group Holdings.

In addition to the 162 year old Belfast shipyard, the group has a further three sites across the UK, Arnish and Methil in Scotland and Appledore in England.

But the Queen’s Island in Belfast-based shipyard said negotiations which began in December last year with the government are continuing.

Harland & Wolff described the report as "misleading and inaccurate".

The Chief Executive, John Wood said "We were disappointed to read this article and the reaction it has caused,"

"Our application has not been rejected and continues to be a work in progress. I expect to be providing a fuller update on our refinancing plans in the next few weeks."

More on the shipyard story, BBC News reports.

Published in Shipyards
Jehan Ashmore

About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals. 

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Afloat will be focusing on news and developments of shipyards with newbuilds taking shape on either slipways and building halls.

The common practice of shipbuilding using modular construction, requires several yards make specific block sections that are towed to a single designated yard and joined together to complete the ship before been launched or floated out.

In addition, outfitting quays is where internal work on electrical and passenger facilities is installed (or upgraded if the ship is already in service). This work may involve newbuilds towed to another specialist yard, before the newbuild is completed as a new ship or of the same class, designed from the shipyard 'in-house' or from a naval architect consultancy. Shipyards also carry out repair and maintenance, overhaul, refit, survey, and conversion, for example, the addition or removal of cabins within a superstructure. All this requires ships to enter graving /dry-docks or floating drydocks, to enable access to the entire vessel out of the water.

Asides from shipbuilding, marine engineering projects such as offshore installations take place and others have diversified in the construction of offshore renewable projects, from wind-turbines and related tower structures. When ships are decommissioned and need to be disposed of, some yards have recycling facilities to segregate materials, though other vessels are run ashore, i.e. 'beached' and broken up there on site. The scrapped metal can be sold and made into other items.