The Marine Society & Sea Cadets launched the appeal to build the new ship during events to celebrate the charity's 250th anniversary in 2006, in the presence of its patron Her Majesty the Queen. The target was reached in just over a year thanks in particular to a generous donation of £1m from The Jack Petchey Foundation.

The design of the new ship is very similar to the charity's existing

power training ship, 'TS John Jerwood'. The provision of a sister ship to the TS John Jerwood will considerably increase the charity's capacity to offer young people from the age of 12 a six day voyage at sea.

Over an anticipated 25 year lifespan, the new power vessel will be home to some 16,000 young people and 3,000 adult volunteers who will learn skills such as engineering, electronic communication and chart systems, cook/steward, the need to be vigilant and keep watch, the value of living in a tidy and disciplined environment, and the need to employ sound social and communication skills when working in a team.

Mike Cornish, chief executive of The Marine Society & Sea Cadets, said

'We are delighted to have been able to award the contract for the TS Jack Petchey to a British shipyard as it contributes in a small way to ensuring those technical and boatbuilding skills for which Britain as a seafaring nation can be rightly proud are kept alive.'

Bridgend director Peter Humphrey added, 'It's a large contract and will give the company a lot of stability. We are hoping that the Queen might come down and crack a bottle over it.'

Bridgend Boat Company will build the new TS Jack Petchey ship according to MCA and Lloyd's regulations entirely under one roof. After making the plug, they will go on to construct the mould from which they will produce the hull, which will form the foundation to the fit out and the finished product.

The new ship will enter service in spring 2010. It will be based at the Royal Naval Reserve Training Centre, HMS President, close to Tower Bridge in the heart of London.