Repairs to the Steam Packet’s flagship vessel Manxman are expected to cost around £5 million, the company has revealed.
The estimate relates to dry docking and repair work being carried out after wear was discovered on propulsion shafts and associated components during a routine inspection in July.
The affected shafts, liners and bearings were removed and sent to a specialist engineering firm in Denmark for repairs.
The Steam Packet says the work has now been completed and the components are due to return to Cammell Laird shipyard in Birkenhead for reassembly and recommissioning.
Manxman is currently targeted to return to service by the end of November, subject to sea trials.
The Cost
The company stressed that the estimated £5 million cost will be met from its own reserves and will not require government funding.
Managing Director Brian Thomson said: “We’re extremely conscious at all times of our position as both a publicly-owned entity and a vital link in the Isle of Man’s infrastructure. Prudent financial planning is a cornerstone of how we manage the business, operating within our means at all times. Therefore, we always ensure there are contingency funds to cover unforeseen eventualities such as this.
“The Company has commissioned an independent report into the causes of the wear and will be seeking to recover costs through insurance and warranty where appropriate.
“We look forward to bringing updates on the completion of works and the return to service of our flagship.”
