Penzance Dry Dock saved after being bought by a marine engineering company


One of the UK’s oldest dry docks was rescued from closure after it was sold to a Cornish marine engineering consultancy.

After more than six months of negotiations, the Isles of Scilly Steamship Group announced the successful completion of the sale of Penzance Dry Dock (2009) Ltd to Linked Solutions SW Ltd, based in Penzance.

Business will continue as usual in the dry dock, as all current employees will remain employed. In addition, Linked Solutions is also committed to maintaining the dry dock facility for pleasure and commercial vessels.

There were concerns that the dry dock, which opened in 1834, would be permanently closed after the tenant of the Isles of Scilly Steamship Group decided to end its involvement.

The dry dock, fully equipped for marine engineering and maintenance activities, had been leased and operated by Isles of Scilly Steamship Group since 2009.

But in January this year, the group announced its intention to focus on its core transport business and confirmed that it would not renew the lease for Penzance Dry Dock.

Linked Solutions SW Ltd, which provides marine engineering, design and manufacturing services as well as project management and consulting, has purchased 100% of the shares of the operating company. The Steamship Group is providing financial support to enable the sale to continue.

The sale received a positive reception from Cornwall’s business and engineering leaders.

“I am delighted to see Penzance Dry Dock come back to life. Penzance is an important part of Cornwall’s marine infrastructure and the Graving Dock will help establish its forward-looking ambitions and regain its place as a provider of suitable marine facilities. We wish the new venture every success, ”said Kim Conchie, President of the Cornwall Chamber of Commerce.

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Although the sale took more than six months, the shipping company said it fully supports the transaction and expects to continue working with Linked Solutions “for many years to come.”

Stuart Reid, Managing Director of the Isles of Scilly Steamship Group, said: “We are delighted that the operation of the dry dock continues under a new owner. The Isles of Scilly Steamship Group is committed to focusing on our core business of transporting passengers and freight by sea and air.

Isles of Scilly Steamship Company Ltd was established in 1920 and the first Scillonian ship began regular voyages to the Isles of Scilly in February 1926.

The company has continuously operated the maritime transport service, which has been a lifeline for the Isles of Scilly community for 95 years, as well as the Skybus fixed-wing service to and from the island since 1984.

Founded in 2019, Linked Solutions is a global team of marine engineers based in Penzance that provides bespoke project support, facilities and strategic partnerships to deliver high performance marine engineering projects.

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