A Tyneside boat builder has plans to keep the industry afloat into the 21st Century by setting sail on a new venture.

McNulty Boats, in Hebburn, plans to develop and manufacture a new luxury craft for the leisure market.

The company, which has been building craft on the River Tyne for more than 40 years, has been helped to get the new venture off the ground with a £3,000 research and development grant from South Tyneside Economic Development Team.

The new craft, Son of Drifter, is an extension of the company's acclaimed Drascombe family of boats and is already creating interest in the nautical world and giving the company a healthy order book.

Ian Heron, boat shop manager, said: "This is an exciting time for all of us and we can't wait to see the finished product when it goes on display.

"We had hoped Son of Drifter would be completed in time for the Earls Court Boat Show, but time is limited and our priority is to produce a high quality vessel.

"We are now looking to complete Son of Drifter for the Southampton Boat Show next year. We know there is a great deal of hard work needed if we are going to achieve our goal, but everyone here is fully behind the project."

Before the company starts on the project it needs to build a prototype out of wood to make sure all the angles are correct, creating a mould for the finished product from fibreglass.

Mr Heron added: "The Southampton Boat Show will be a crucial date in our professional calendar if we are going to impress potential buyers."