Gibraltar shipyard anticipates Brexit boost

Managing director Richard Beards noted that the company had not seen any negative consequences so far as a result of the decision. “The decline in the value of sterling has made the yard more competitive compared with most of our eurozone-based rivals,” he said.

The vote has not deterred European customers, with Gibdock reporting strong business from German owners and managers in particular in the first half of the year. The yard has repaired seven German owned or operated vessels so far in 2016, including general cargo ships, container carriers, a reefer ship and a bulk carrier. With the exception of a first job for Bernhard Schulte, all projects have involved returning customers.

Projects of note for German owners in the first half of the year included an extensive ballast tank cleaning contract undertaken on the containership Las Palmas. The job involved working alongside contractors to dispose of contaminated ballast water.

“Winning every single repair project partly depends on the trading area of the vessel concerned, which is why our favourable location is critical for German owners,” said Beards. “However, our accuracy with quotations, quality of workmanship and on-schedule redelivery continue to bring German owners back to Gibdock, and attract high profile newcomers such as Bernhard Schulte.

“Our expectation is that we will be in a strong position in the final quarter of 2016, and will figure strongly in the plans of German owners considering their class renewal work as vessels come off charter.”