UK polar research ship nearly sank Cammell Laird

Boaty McBoatface blew a serious hole in the finances of British shipbuilder Cammell Laird, forcing it to seek emergency shareholder support.

The Birkenhead yard ran up £37.4m of losses on the £200m contract to build the ship, which was eventually named the Sir David Attenborough, and had to be rescued by its shareholders, accounts published at the end of December reveal. It also took a £15.8m impairment charge.

The Peel Group the property and investment group owned and DWS, the asset management arm of Deutsche Bank, invested an undisclosed amount in 2019 that prevented the 200-year-old company running aground.

The 15,000 tonne British Antarctic Survey ship was a bespoke vessel and the biggest built in Birkenhead since 1992. It was launched in 2019, two years late, and management admitted it was a bigger than expected challenge.

Cammell Laird made a pre-tax loss of £35.6m, up from £897,000 the year before while turnover fell to £88.6m from £154.2m.

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