Bibby Stockholm: Profit rises for asylum seeker barge ahead of closure
The Bibby Stockholm barge, which houses asylum seekers off the coast of Dorset, continued to turn a profit in 2023, it has been revealed.
The three-storey vessel has posted a pre-tax profit of £167,035 for the 12 months, down from the £421,701 it reported for 2022.
Newly-filed accounts with Companies House also show its turnover increased from £1.8m to £2.6m over the year.
The vessel, which is moored off Portland on the south coast, has capacity for up to 500 men, aged from 18 to 65.
It was one of several sites, including the military bases RAF Wethersfield in Essex and RAF Scampton in Lincolnshire, used by the previous Tory government in a bid to cut the cost of housing migrants in hotels.
The ship was built in 1976 and is registered in Bridgetown, Barbados. It was converted into an accommodation barge in 1992.
The ship is owned by Bibby Line Group, one of the oldest privately-owned companies in the UK.
The Liverpool-headquartered group was founded in 1807 by John Bibby.
Bibby Stockholm barge to be closed
The results come after it was announced in July this year that the contract for the Bibby Stockholm barge would not be renewed past January 2025.
The Home Office said that it would have cost more than £20m next year to extend the use of the barge.
At the time, the Home Office said the move was part of a commitment to “clear the backlog and fix the asylum system”.
The Labour government added that scrapping it forms part of the expected £7.7bn of savings in asylum costs over the next 10 years.
Speaking in July, Dame Angela Eagle, minister for border security and asylum, said: “We are determined to restore order to the asylum system, so that it operates swiftly, firmly and fairly; and ensures the rules are properly enforced.
“The Home Secretary has set out plans to start clearing the asylum backlog and making savings on accommodation which is running up vast bills for the taxpayer.
“The Bibby Stockholm will continue to be in use until the contract expires in January 2025.”