Statement Issued by Waverley Steam Navigation Co. Limited, Waverley Excursions Limited and PSPS

Waverley Steam Navigation Ltd, owner of the classic coastal motor ship Balmoral and her operator Waverley Excursions Ltd. have, together with the Paddle Steamer Preservation Society, agreed to MV Balmoral Fund Limited’s request to allow work on assessing the feasibility of returning the ship to service to continue until the end of April, and to make a financial contribution. Provided MV Balmoral Fund Limited can raise sufficient funding, including from pledges already in hand, to meet the remaining cost, investigation will include preliminary dry docking. This will mean the ship can be authoritatively assessed for the work, and the cost in detail, required to renew passenger certificates. It will also give time for MV Balmoral Fund Limited to finalise a business plan and approach potential funders for support not only for the physical work necessary but for a new business start-up.

All parties recognise that if the work required or the start-up cannot be funded then a different future for the ship will have to be sought.

Waverley Steam Navigation will also use the period to assess options for the ship including establishing whether there are other parties who might be interested in taking over her operation. This does not indicate any lessening of its commitment but is merely what any prudent custodian of charitable funds would do. Balmoral means a great deal to many people and everything possible must be done to see if she can be returned to service.

Also see the message from the PSPS Chairman regarding financial support here.