Harland & Wolff has decided not to make a formal bid to buy the company which operates the Isles of Scilly ferry service.
Its initial approach to acquire the Isles of Scilly Steamship Group (ISSCL) was “unequivocally rejected” last month.
And in a statement, the board of Harland & Wolff Group Holdings said it has concluded not to pursue this matter “and accordingly does not intend to make a firm offer for ISSCL”.
But Harland & Wolff insists it will continue with its plans to offer a fast ferry service on the Penzance – Isles of Scilly route as well as offering a dedicated freight service on the crossing.