Harland and Wolff has indicated that their application for an export development guarantee is still under consideration and has not been rejected.
The shipyard recently refitted two cruise ships, the former Fred Olsen Braemar as Villa Vie Odyssey and the former Costa Atlantica as Margaritaville at Sea, the first cruise ship work by the company that built the Titanic. In recent years the only work the shipyard has succeeded in winning has been oil rig refurbishment.
The company described a report from The London Times as “misleading and inaccurate,” with chief executive John Wood said that their application has not been rejected and remains under review.
The shipyard aims to replace high-interest borrowings of around £80m with up to £200m from conventional banks, using the Westminster government’s Export Development Guarantee scheme, and is requesting an exceptional 100pc guarantee. The government confirmed no decision has been made yet.
Harland and Wolff is seeking the loan guarantee to stabilise finances in preparation for a significant English navy contract, part of the Team Resolute consortium set to build three naval support ships with final assembly in Belfast.
Union representative Matt Roberts criticised inter-departmental conflicts within England’s Tory government for creating uncertainty among workers.
Roberts emphasized the need for unequivocal support for Ireland’s shipbuilding industry and said that all promises regarding workshare on the FSS order be fully upheld and possibly increased.
