A new £200m Royal Yacht is to be commissioned within weeks according to reports in the Sunday newspapers.
The new yacht will be named after Prince Philip and will be successor to HMY Britannia, which was decommissioned in 1997.
According to The Daily Telegraph, the new Royal Yacht will be formally announced by Prime Minister Boris Johnson in a matter of weeks.
A Downing Street spokesperson did not deny the reports, saying: “The prime minister has an exciting vision for shipbuilding in this country and is committed to making the UK a shipbuilding superpower.
“We are always looking for new ways to promote global Britain around the world, driving investment back to the UK and delivering value for money for the British people.”
It is not clear whether British taxpayers will foot the bill or whether the yacht will be funded privately.
Royal Yacht Britannia was Her Majesty’s personal ship and was in service from 1954 until 1997 when it was decommissioned by the government.
HMY Britannia was the 83rd such vessel since King Charles II acceded to the British throne in 1660.
During her career as Royal Yacht, Britannia conveyed the Queen, other members of the Royal Family and various dignitaries on 696 foreign visits and 272 visits in British waters. In this time, Britannia steamed 1,087,623 nautical miles (2,014,278 km).