The dockyard was used extensively by the
Royal Navy, docking many of the Navy’s most prestigious ships. In the early 1980s, a decision by the
United Kingdom's
Ministry of Defence to cut back the
Royal Navy surface fleet meant that the
dockyard was no longer financially viable. In 1984, the dockyard passed into the hands of the UK ship repair and conversion company,
A&P Group. A government
grant and a prospect of lucrative
Royal Fleet Auxiliary refit contracts did not help A&P Group, however, and they passed the yard into the hands of the
Government of Gibraltar. A company was set up to run the yard and it became known as
Gibraltar Ship Repair. In the early 1990s, the dockyard was taken over by
Norway-based engineering and construction services company,
Kværner, who ran the yard until 1996, the yard then closed for a period of approximately 18 months.
Cammell Laird In 1997, the British
shipbuilding company
Cammell Laird based in
Merseyside, were looking to expand their operations outside the UK and in early 1998 a management team arrived at Gibraltar. The yard was reopened and the first ship docked within a few weeks. The dockyard's future was again put at risk when in early 2001,
Cammell Laird Group PLC ran into difficulties, which eventually led to its closure. When it became inevitable that
Cammell Laird Group PLC was to close, senior management in Gibraltar, with the backing of the Government of Gibraltar, were successful in their quest to source the necessary financial assistance to keep the company's Gibraltar operations running.
Renaming to Gibdock During the first quarter of 2006, Cammell Laird Group was sold in its entirety to private investors. The new owner's intention was to continue with the existing business. The company continued to trade as
Cammell Laird Gibraltar Ltd until 7 December 2009 when it was renamed
Gibdock following the sale of the rights in the historic brand to
Northwestern Shiprepairers & Shipbuilders in the UK for an undisclosed sum.
Balaena Ltd In May 2022, Gibdock Ltd was wholly acquired by a UK company, Balaena Ltd for an undisclosed sum. This acquisition saw the start of a revival of the yards military history, with a significant upswing in usage by the Royal Navy. Balaena Ltd's intention is to use the yard for the fabrication of their own design offshore utility platforms alongside its traditional ship repair usage. ==At present==