THE Bristol Channel's famous classic pleasure steamer, MV Balmoral is in difficult financial waters and may never sail again unless people help launch the fundraising lifeboats now.

That's the grim warning from her owners, following a second poor summer sailing season in a row.

This summer she travelled far and wide around the UK the ship but lost 25 per cent of her scheduled sailings due to bad weather combined with some untypical technical problems.

"This has left us with a massive £350,000 to £500,000 shortfall, which we need to find before next season, if indeed there is to be a next season," said MV Balmoral Funds Trustee, Paul Doubler.

"So now we are appealing to everyone who loves and values the ship, or who has ever sailed on her in the past to answer our emergency appeal. Balmoral's financial troubles come as a bitter blow to the local supporters, who managed against all the odds to save her."

Mr Doubler said the end of Bristol Channel passenger ship cruising would be a great loss for the historic pier in Clevedon, and harbours such Lydney, Sharpness, Minehead, Watchet and especially Ilfracombe where she lands thousands of happy holidaymakers from Wales and up channel.

"While it is a huge sum of money all is not as bad as it initially appears. A large legacy and early fund raising success means that almost a third of our target has been achieved so that gives us much confidence that we can be successful” he added.

The sleek motor yacht-shaped vessel, which can carry up to 600 passengers, was taken out of service in the autumn of 2012 by her then owners, Waverley Steam Navigation Company of Glasgow.

But a small dedicated band of volunteers refused to give up on Balmoral spent the next two and a half years raising the funds and doing a huge amount of maintenance work to keep her ship-shape.

Between public subscriptions and a Coastal Communities Fund Grant more than £650,000 was raised to return her to sailing last year.

"We are hugely indebted to West Country folk who love the ship have supported us so well in the past. It would be a very sad loss to all but the West Country especially if we don't get the support we need and Balmoral was lost," said Mr Doubler.

If you would like to help save Balmoral donations can be made via Mydonate.bt.com or via cheques to the treasurer, MV Balmoral Fund Ltd, 23 Adder Hill, Great Boughton, Chester, CH3 5RA.