Business
Milford Haven dry dock pitched as home for giant £480m superyacht yard
Port says dock is being actively marketed as company unveils vast shed plan that could transform town skyline and create up to 3,000 jobs
A HUGE plan to turn Milford Haven’s dry dock into the heart of a £480 million superyacht construction and refit yard has been unveiled, in what could become one of the most dramatic development proposals ever put forward for the town.
Renderings released alongside the announcement show a colossal enclosed build hall covering the existing dry dock and dominating the waterfront skyline. Based on the images, the proposed structure appears likely to be nearly as long as some of the German submarine pens built on the French Atlantic coast during the war.

The scheme has been put forward by Superyacht Sales UK, which says it is in early-stage discussions with Milford Haven Port Authority over the possible use of the Port’s 180-metre dry dock as part of a long-term vision for a major new marine engineering hub in Pembrokeshire.
The company says the wider project could eventually support up to 3,000 skilled jobs and generate around £150 million a year in social value, while helping establish Milford Haven as a centre for superyacht refit, construction and green marine technology.

Port’s response cautious
Despite the eye-catching scale of the proposal, the Port has given only a limited response.

In a statement to The Herald, a spokesperson for Milford Haven Port Authority said: “The dry dock is commercially available for rent and is being actively marketed. We have responded to various organisations that have shown an interest. We are unable to comment further due to commercial sensitivities.”
That response makes clear the dry dock is being marketed commercially and that Superyacht Sales UK is not the only organisation to have shown interest.
The release issued by Superyacht Sales UK says the company is also exploring the possible development of a custom new-build shipyard on the site of the former Royal Naval Armaments Depot on the edge of Milford Haven. However, it acknowledges that no contact has yet been made with the current landowners and that the entire proposal remains at concept and feasibility stage.
Kerry Ballard, founder of Superyacht Sales UK, described the plans as a long-term ambition and said discussions with the Port were exploratory.
She said: “This is a long-term vision, and we are at a very early stage. Our discussions with Milford Haven Port Authority are exploratory, focused on understanding what may be possible in respect of the existing dry dock facilities.
“Milford Haven presents a compelling opportunity. The combination of deep-water access, industrial heritage, and alignment with the Celtic Freeport strategy, particularly around hydrogen and green energy, creates a highly attractive proposition for a next-generation shipyard.”
She added that any development of this scale would need to be shaped in partnership with the local community, stakeholders and education providers.
Questions over scale
There is no doubt the vision is bold. If built in anything like the form shown in the released images, the structure would completely alter the appearance of the docks and create a huge new industrial landmark visible across much of the town.
Rather than sitting beside the dry dock, the proposed shed appears designed to swallow it almost whole, enclosing the dock within a giant shell intended for superyacht construction and refit work under cover.
The sheer scale of the concept is likely to prompt both excitement and scepticism locally.
Supporters will point to Milford Haven’s deep-water access, industrial heritage, marine infrastructure and long association with heavy engineering and energy industries. In theory, those strengths could make it a credible location for specialist shipyard activity if sufficient private investment and commercial demand existed.
The company says the international market for superyachts over 30 metres is growing, with existing European yards facing capacity constraints. Its pitch is that West Wales could capture part of that market while also linking the development to future propulsion systems, including hybrid, battery-electric and hydrogen-powered vessels.
The proposal also includes talk of partnerships with colleges and universities to create training pathways in advanced composites, precision engineering and sustainable marine technologies.
Speculative at this stage
For Milford Haven, the attraction is obvious. A project on this scale would not just mean another industrial tenant taking over an existing dock facility. It would represent a major shift in ambition for the waterfront and could, if realised, bring a new type of high-value engineering work into Pembrokeshire.
But serious questions remain.
No planning application has been submitted. No formal development agreement has been announced. The Port has not indicated support for any specific proposal. At this stage, there is no public evidence of secured funding for a project on anything like the scale being discussed.
There are also likely to be wider questions about land control, infrastructure demands, environmental considerations, traffic, visual impact and whether local people would genuinely benefit from the promised jobs and training.
For now, the proposal remains an ambitious vision rather than a confirmed development.
If the idea progresses, it could mark the start the biggest waterfront development discussions the town has seen in years.
Business
Cod price crisis puts Pembrokeshire chip shops under pressure
CHIP SHOP owners in Pembrokeshire say soaring costs are forcing up prices, changing customer habits, and putting pressure on young staff facing questions from customers.
Speaking to the BBC this week, Rhys McLoughlin, co-owner of Môr Ffres in Dinas Cross, said he is installing self-service tills partly to protect staff from being put on the spot over rising prices.
Mr McLoughlin said cod, once his biggest seller, is being overtaken by cheaper options such as chicken chunks as families look for ways to keep costs down.
Prices keep rising
He said: “There are lots of questions being asked. Incoming prices are going up and up.
“We have no control over that, so either we work for no money, or we follow the price increase and pass it on.”
The average price of takeaway fish and chips rose to £11.17 in March, compared with £6.48 in 2019.
Mr McLoughlin warned that cod prices could rise further by September, saying: “If these prices continue to go up, who’s going to buy fish and chips for £21? Who can afford that?”
Staff under pressure
He said the planned digital kiosks would help manage queues in the small shop during the busy summer season, but would also reduce the pressure on young staff.
Mr McLoughlin said: “We have got young staff working here and sometimes this is their first stepping stone out of school.
“It’s no fun for a boy or girl to come to work to be asked pretty abrupt questions on the spot with 20 people in the chip shop.
“We have actually lost a few members of staff through that.”
Seaside favourite
In Saundersfoot, Sy Crockford, of Marina Fish & Chips, said keeping the traditional seaside meal affordable had become increasingly difficult.
He said cod alone had risen by around 50 per cent, adding: “One thing we don’t want to do is out-price fish and chips.
“It’s nostalgia, it’s romance, to come to the beach and have fish and chips. We definitely don’t want to outprice.”
Mr Crockford said cod and haddock were becoming “a luxury, not a necessity”, and suggested more sustainable and affordable fish options may become more common on chip shop menus.
Rural shops hit
At Cegin-24 in Crymych, owner Sioned Phillips said the price of a box of cod had risen from around £36 to between £50 and £60.
She said: “When I opened, it was £6.95 for a piece of cod. I’ve had to raise it to £9, and that’s being quite reasonable.
“If I wanted to make a normal amount of profit, it should be about £11 or £12 for a piece of cod.
“For me, in such a rural community area, to justify charging elderly people and local people so much for a piece of cod is absolutely ridiculous.”
Ms Phillips said some customers were still sticking with cod despite cheaper alternatives being offered, but were cutting back elsewhere by sharing portions of chips.
The National Federation of Fish Friers said cod price rises were linked to reduced quotas in the Barents Sea, sanctions on Russian fish, and wider cost pressures.
President Andrew Crook said many customers understood fish was a premium protein, but added that higher prices had affected visit frequency and footfall in many shops.
Business
Port reports record turnover, but debt, emissions and senior pay also rise
Annual report shows strong growth and major investment, but underlying figures reveal a more complex picture
THE PORT OF MILFORD HAVEN has reported another year of growth, investment and strong trading performance, with rising cargo volumes, record turnover and major spending on infrastructure across the Haven Waterway.
The Port’s 2025 Annual Report shows gross tonnage rose by 11%, while total cargo movements increased by 17% to 38.3 million tonnes.
Turnover also reached £45.2 million, up from £43.2 million in 2024, marking a fourth consecutive year of revenue growth.
The Port said service performance remained strong, with more than 98% service availability for customers using its pilotage services.
As one of Pembrokeshire’s most important economic institutions, the Port plays a central role in jobs, energy, tourism, marine safety and long-term investment across the Haven.
Dr Siân George, Chair of the Port of Milford Haven, said: “Our continued growth has been achieved not by chance, but through deliberate choices, and reflects our long-term perspective – one that prioritises our customers and our many stakeholders.
“As a trust port, we are committed to our mandate to ensure we hand on the Port in a better condition to future generations. We do this by placing responsible growth, environmental stewardship and prosperity for the communities who depend on the Waterway, at the forefront of our decision-making process.”
Tom Sawyer, CEO at the Port, added: “I would describe 2025 as another year of solid performance; one where our service delivery and business resilience continued to improve.
“We saw our fourth consecutive year of revenue growth and another year of strong profits. We thank our customers and Waterway communities and partners for their ongoing support, collaboration and challenge helping us to continually improve.
“And our thanks to our teams who have worked with an unerring focus on ensuring the Port of Milford Haven continues to deliver what our customers and communities deserve.”
Major investment
The Port continued a major investment programme during the year, spending £18 million in 2025 following £27.4 million in 2024.
Projects included a new pilot boat, upgrades to the Vessel Traffic Services command centre, refurbishment of marine facilities and further development at Milford Docks and Milford Waterfront.
The new 22-metre pilot boat, Llanion, completed sea trials and is expected to strengthen safety and resilience for vessel movements on the Waterway.
The Port also continued to position Pembroke Port for future floating offshore wind opportunities linked to the Celtic Freeport.
Supporters of that strategy argue that Milford Haven and Pembroke Dock could become central to the next generation of energy jobs, particularly if floating offshore wind develops at the scale hoped for by government and industry.
The Port also expanded its workforce, with 25 new employees joining in 2025 and four apprentices taken on, which it described as a record intake.
Its marine team has grown by 35% over five years.
Community role
The annual report highlights the Port’s role as a trust port, meaning it does not have shareholders and reinvests profits back into the business.
It says close to £500,000 was invested in community initiatives during the year.
These included water safety programmes, youth projects, support for Milford Youth Matters, the Torch Theatre, STEM opportunities for young women and local environmental work around the Haven Waterway.
Milford Waterfront also received recognition through a Tripadvisor Travellers’ Choice Award, while the Port said its hotels and tourism assets continued to support local jobs and visitor numbers.
The organisation was also recognised as one of the UK’s Best Workplaces for Women, an achievement in a sector that has historically been male dominated.
Profit picture
But the report also shows that, beneath the positive headline figures, the Port faces financial and environmental pressures.
Although turnover increased, operating profit fell from £6.8 million in 2024 to £5.2 million in 2025.
Profit before interest and tax rose to £6.9 million, but that figure was helped by a £1.7 million gain from the revaluation of investment properties.
The Port’s underlying profit measure, which strips out some accounting costs such as depreciation and amortisation, also fell from £11 million to £9.2 million.
That suggests the organisation is still profitable, but facing higher costs and tighter margins despite increased shipping activity.
Borrowing rises
Borrowing also rose sharply during the year.
The report shows total borrowings increased from £17.5 million to £25.2 million, while net debt rose from £15.3 million to £20.7 million.
Much of that increase appears to be linked to long-term capital investment, including marine infrastructure, dock improvements and hospitality assets.
Ports are expensive businesses to run and maintain, and major investment often requires borrowing.
However, because the Port is a trust port with responsibilities to the wider community, the level of borrowing is a legitimate matter for public scrutiny.
The Port says committed financing is in place until 2028 and points to strong operating cash flow and diversified income as evidence of resilience.
Emissions increase
The report also sets out the Port’s sustainability ambitions, including a target to cut total greenhouse gas emissions by 63% by 2035 and reach net zero by or before 2050.
It generated close to five gigawatt hours of renewable energy in 2025, avoiding almost 900 tonnes of carbon dioxide equivalent emissions.
But the report also shows direct emissions increased.
Scope 1 emissions rose from 1,340.39 tonnes of carbon dioxide equivalent in 2024 to 1,578.15 tonnes in 2025, largely due to diesel use.
Carbon intensity also rose from 31.03 to 34.94 tonnes of carbon dioxide equivalent per £1 million of turnover.
The figures underline the challenge facing the Port as it tries to balance growth in marine activity with its environmental ambitions.
Executive pay
Another figure likely to attract attention is senior remuneration.
The annual report shows the highest-paid director received £494,000 in 2025, compared with £271,000 in 2024.
The Port says the figure included a one-off compensatory award following benchmarking of senior executive pay.
There is no suggestion of wrongdoing, and the Port is entitled to argue that a nationally significant energy port requires experienced leadership.
But at a time when many local households and businesses are facing rising costs, executive pay at a trust port is a legitimate public-interest question.
Balanced picture
Overall, the Port of Milford Haven remains one of Pembrokeshire’s most important economic success stories.
The report shows a business that is growing, investing and planning for the future while maintaining a crucial role in UK energy infrastructure.
It also shows an organisation contributing to local skills, tourism, community projects and long-term regeneration.
But the annual report is not simply a success story.
It also shows falling operating profit, rising borrowing, increased direct emissions and a sharp rise in the remuneration of the highest-paid director.
Those issues do not cancel out the Port’s achievements.
But they do matter.
For a trust port serving Pembrokeshire and the wider national interest, scrutiny is not hostility. It is accountability.
Business
Welsh business confidence rises but firms face cost squeeze
PEMBROKESHIRE BUSINESSES WARNED OF PRESSURE FROM FUEL, TRANSPORT AND SUPPLIER COSTS
WELSH business confidence improved in April, but firms are still facing falling orders, job cuts and rising costs, according to the latest NatWest Wales Growth Tracker.
The report, compiled by S&P Global, found that confidence among Welsh businesses picked up from March’s recent low, amid hopes of stronger demand over the coming year.
However, the overall picture remains challenging. The Wales Business Activity Index rose to 47.9 in April, up from 46.2 in March, but remained below the 50 mark which separates growth from contraction.
For Pembrokeshire businesses, particularly those in tourism, hospitality, transport, food, farming supply chains and small-scale manufacturing, the figures point to continued pressure from higher fuel, materials and delivery costs.
The report found that output and new orders were still falling, although at a slower pace than in March. New sales declined for a third month running, with firms blaming weak customer demand and wider economic uncertainty.
Employment also fell sharply. Welsh businesses recorded the steepest drop in workforce numbers of any of the 12 UK nations and regions monitored, with firms cutting staff or not replacing workers who had left.
Cost pressures were a major concern. Operating expenses rose at the fastest rate since November 2022, driven by higher fuel, transportation and supplier costs. Firms increased their own prices in response, but not by enough to fully offset the rise in costs.
Jessica Shipman, Chair of the NatWest Cymru Board, said: “Welsh business confidence ticked higher on hopes of stronger customer demand and planned investment in building resiliency.
“However, we saw contractions in output and new orders soften during April, but underlying business conditions told a challenging tale. A further drop in new sales led to sharper falls in backlogs of work and employment, as firms sought to cut costs and streamline processes.”
She added that pricing remained a key concern, with higher fuel and transport costs putting further pressure on businesses.
The report also found that Welsh export conditions improved only slightly, with weaker performance in Germany and France weighing on the outlook.
For Pembrokeshire, where many businesses rely on seasonal trade, logistics, hospitality and supply chains linked to agriculture, energy and the port economy, the figures suggest that confidence may be recovering, but margins remain under pressure ahead of the summer trading period.
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