¹ Where appropriate, the above figures represent the total revenue for the MOD and industry together. For those vessels sold on a Government-to-Government (G-2-G) basis in later years by the Ministry of Defence’s Disposal Services Agency (DSA), there is usually an agreement with industry for regeneration and modernisation work. Much of the information on revenue received by the MOD from the sale of each individual vessel is not held centrally and could be provided only at disproportionate cost. Some deferred/time-related payments will still be outstanding.

⁴ HMS Unseen was leased to Canada with an option to purchase, which has subsequently been exercised. The lease covers four submarines, the remaining three, HMS Unicorn, HMS Ursula and HMS Upholder are still under lease until 2008. The total value of this lease is Canadian $360 million for all four submarines—future exchange rate fluctuations make it impossible to estimate a final return in sterling at this time.

⁵ HMS Bicester and HMS Berkeley were transferred to the Hellenic Navy. This transfer involved the vessels being sold to Vosper Thorneycroft (VT) for £5 million each. VT prepared the vessels for transfer resulting in the MOD incurring minimum transfer costs. Although not transferred directly on a G-2-G basis, they are highlighted because of the significance of the sale. The Acquisition Agreement for HMS London and HMS Coventry for Romania covered the acquisition of these ships with UK MOD procuring their regeneration and modernisation through a “back-to-back” contract. The ships were already decommissioned, no longer in operational condition and were in need of major regeneration. The value to the UK of the project is £116 million including a return for the MOD of between £1.5 million and £2 million for the hulls (£200,000) and the provision of services.