A NORTH Yorkshire shipping business has expanded its fleet after securing a £2 million funding package.

Mainprize Offshore, based in Scarborough, is investing in its fifth ship MO5, after receiving the funds from the Royal Bank of Scotland.

The new vessels will allow Mainprize Offshore to continue the expansion of its support to the offshore oil, gas and renewable industries and create jobs.

The work carried out by the new ship will expand the work Mainprize does in underwater cables, pipeline guarding, seabed surveys, traffic monitoring and crew and equipment transfers.

Director Bob Mainprize said: “While we have a good reputation in the offshore industry, the funding received from Royal Bank of Scotland was necessary to allow us to continue our operations effectively and expand. We’re always striving to be better and this is a big step in helping us do so.”

Eileen Tocher of RBS, said: “Mainprize Offshore is a well-established company that prides itself on innovation and delivering high quality service in a complex industry.”