The iconic paddle steamer, Waverley, has been withdrawn from service.
It was previously announced that the vessel needed extensive repairs to her boilers.
It has now been decided that the paddle steamer will need new boilers, if she is to carry on.
Waverley Excursions Ltd General Manager, Paul Semple, stated: "The challenge ahead is significant and unlike previous challenges the ship has faced in the last 45 years through her preservation.
"I am personally appealing to anyone that wants to see this historic ship sail again.
"I know first-hand the fondness that the general public have for Waverley and I know this news will be upsetting. However, Waverley can sail again if we can raise the funds required to purchase and install new boilers.
"The Registered Charity which owns Waverley will shortly launch an appeal to save the ship and ensure she sails again.
"The cost of the required works is significant but if every passenger who would have sailed this year donated the cost of their ticket towards our appeal we will return Waverley to steam. More than ever we need support to preserve this iconic vessel as the last sea-going paddle steamer in the world.”
Donations can be made by texting STEAM 20 to 70085 to donate £20 or by clicking the link.