Birkenhead’s Cammell Laird shipyard welcomes launch of Government’s Shipbuilding Credit Guarantee Scheme which could mean it winning more work. Tony McDonough reports

Cammell Laird could attract more shipbuilding and ship repair work to Cammell Laird in Birkenhead thanks to the newly-launched Shipbuilding Credit Guarantee Scheme.

In a bid to ensure more work won by UK shipyards in the face of fierce foreign competition the Credit Guarantee Scheme will see the Government act as a guarantor for lenders, unlocking credit for maritime firms.

It will guarantee a percentage of the value of loans used to purchase, refit, retrofit or repair vessels, sharing the risk with lenders. It is part of the Government’s £4bn National Shipbuilding Strategy Refresh, announced in 2022.

David McGinley, is chief executive of both Cammell Laird and A&P Group, two separate businesses with a common shareholder that have formed a strategic partnership. Mr McGinley has welcomed the launch of the scheme.

He said: “A&P and Cammell Laird are the UK’s largest commercial ship repairers and shipbuilders. As such, we have welcomed the announcement of the Government’s Shipbuilding Credit Guarantee Scheme.

“We operate four shipbuilding and repair yards which include 11 of the UK’s largest dry docks. Thes have allowed the facilities to deliver in excess of 1,500 dry-docking in the past decade.

“Recent new shipbuilding programmes for the UK home market include RRS Sir David Attenborough, one of the most technically complex ships ever to be delivered by a UK facility.

“This was as well as a range of modern vehicle ferries to organisations such as Red Funnel, Western Ferries and transport for Northern Ireland. Additionally, 12 barges have also been delivered to Cory for use on the River Thames.

“This shipbuilding and ship repair activity has already enabled A&P and Cammell Laird to continue to grow a highly skilled UK workforce, which today stands at almost 1,500.

“It also underpins our vibrant, award-winning apprenticeship programme, which employs nearly 250 apprentices across our facilities, with more than 300 adult and young apprentices having already entered the workforce in the last 10 years.”

Mr Ginley added the scheme will help the businesses “compete on a level playing field” with international competitors. It will, he said, help provide UK customers with world class and environmentally friendly new ships.

READ MORE: Cammell Laird cuts losses after polar vessel pains

READ MORE: Cammell Laird converts £70m MoD support vessel

“This in turn will help to meet the target of net zero whilst also driving huge social value into our communities and the important local SME supply chain,” he explained.

“Cammell Laird in particular is currently engaging in a number of opportunities which the Shipbuilding Credit Guarantee Scheme should support. We look forward to receiving further details of the new scheme.”