In 1980 , the steam ship M V Shanklin was purchased from the Waverley Steam Navigation Co Ltd , shipowners, Glasgow, Scotland, by Gorto Ltd , shipowners, Paisley, Renfrewshire, Scotland. The M V Shanklin had been built by built by Denny Brothers , shipbuilders, Dumbarton, Scotland, in 1950-1951 and was delivered to British Rail. Gorto Ltd, with their registered office in Glasgow, had been formed in 1980 to purchase the vessel and in the following year the company became the Firth of Clyde Steam Packet Co Ltd , deliberately choosing the name of a former Clyde company,. The sole reason for the purchase of the M V Shanklin was to earn money that would be used to help finance the preservation of the paddle steamer Waverley . The company's board of directors were responsible for the ownership, maintenance and employment of the M V Shanklin while the day-to-day management was the responsibility of Waverley Excursions Ltd , Glasgow. The ship started a cruising service in 1981, the same year as it was renamed Prince Ivanhoe . In August 1981 , the ship was wrecked when she hit a submerged object at Port Enyon of the Gower peninsula. No lives were lost but the liquidation of the company was discussed in May 1982 , but as the process of insurance claims went on for many years, the Firth of Clyde Steam Packet Co Ltd was not finally dissolved until 1984 .
From the guide to the Records of the Firth of Clyde Steam Packet Co Ltd, shipowners, Glasgow, Scotland, 1951-1982, (Glasgow University Archive Services)
