Ship&Offshore | Issue 08/2024
H&W faces uncertain future
As shipyards in Northern Europe cash in on buoyant newbuilding and repair markets, troubled Belfast shipyard, Harland & Wolff (H&W), is struggling to secure its future. In mid-July, a GBP 200 million loan guarantee facility from the new UK Government was turned down and the iconic shipbuilder was forced into emergency talks with lenders. According to reports, the shipbuilder had been assured of further support by the previous UK Government more than twelve months ago. Refusal to extend the loan guarantee came as a bitter blow following more than a year of interim support which was thought to be a pathway to more secure arrangements....