A public appeal has been launched to urgently raise funds to enable the historic Paddle Steamer Waverley to afford dry dock fees and re-commissioning costs, and therefore sail in 2023.
In 2022 Waverley operated in several areas around the UK coast following the easing of pandemic restrictions, but operating costs soared which has resulted in a lack of funds to survive the winter maintenance period. Despite carrying over 100,000 passengers with sailings around the Isle of Wight, in Scotland and up the River Thames to London there is a cash shortfall.
Paul Semple, Waverley’s General Manager, explains:
“Waverley must be taken out of the water and dry docked annually before her sailing season begins. She is now booked to dry dock in late-March and then re-enter service in May. Due to increased operating costs last season we don’t have enough money to afford this year’s dry dock and the numerous other costs we incur in the weeks before Waverley starts sailing.
“Last year our fuel costs increased by over 60% or in real terms by over £300,000. This is a cost which the owning charity hasn’t been able to withstand. We urgently need to raise funds or we simply can’t afford the start up costs for this coming summer season.”
The Dry Dock 2023 Appeal has a target of £180,000 with over £35,000 already raised. Those who donate by 1st March will be entered into a draw to be selected for the unique opportunity to visit Waverley and see her out of the water in dry dock.
Paul adds:
“Operating a historic steamship like Waverley is inherently expensive. We are now spending over £600,000 a year just to maintain her in operating condition. Spare parts for a paddle steamer are rarely ‘off the shelf’ and come at considerable cost. Dry docking the ship is the single largest expense of the winter maintenance work and as things are we can’t afford to dock her. We are asking for help from anyone who wishes to see Waverley sail again this summer to support our appeal.”
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Waverley’s outline sailing programme for 2023 has been published with the ship scheduled to start operating in May on the Firth of Clyde. Waverley is also due to visit Oban and the Inner Hebrides, the Bristol Channel, South Coast and London. Sailings from Liverpool and Llandudno are dependent on pier repairs being completed at the North Wales resort.
Donations to the Dry Dock 2023 Appeal can be made online at www.waverleyexcursions.co.uk.
is that what we do now for businesses that are failing- crowdfund, first sweet charlies, now waverley
whatever happened to getting a loan or selling part of the business to an investor -if these avenues are not open, then it is clear that the business plan isn’t feasible.
guess the owning charity didn’t build a cash reserve for unexpected increases in costs – if traditional lenders or investors won’t touch it, then it is doomed.
I think I’d agree.
£180,000 seems like a lot of money to be asking for. Good luck to them if they can get it, but, if I were thinking of giving money, I’d want to know that the charity is being run on a sound financial footing otherwise what’s to say they won’t be in the same position again this time next year?
I agree with you
More fool those that have donated so far. I am all for saving historic vehicles however having seen how this vessel is operated, usually massively overcrowded, it is a disaster waiting to happen. Better it is docked somewhere as a floating museum.
apparently they are skint – from their last accounts…
The holding of shares in WSN, the owner of P.S. Waverley, represents 68% of shares issued. The shares are shown in the accounts at their nominal value as shareholders in the Company cannot benefit from their holdings, as it is constituted as a charity (registered in Scotland as no. SC005832). At 31 October 2020 the aggregate amount of its group capital and reserves was £3,190,791 (2019 – £2,872,391) and its group net income for the year then ended was £318,400 (2019 – £184,336). P.S. Waverley is operated by Waverley Excursions Limited (WEL) which is wholly owned by WSN.