Historic Bristol passenger ship the Balmoral has been awarded a government grant of more than a third of a million pounds. The ship, docked outside the M Shed, has been out of service since 2012 and is currently owned by a group of volunteers. £344,000 from the government’s Coastal Communities Fund will pay for further repairs, dry docking, new navigational and safety equipment. It will also help pay for a crew and setting up a new operating company to run and market the vessel. Once restored it is hoped that the ship will return to cruising the Bristol Channel and beyond. Bristol West MP and minister for communities Stephen Williams announced the funding on Monday and said it will "give a real boost to tourism in the South West and beyond". The work is expected to take several months to complete, with the Balmoral aiming to resume passenger cruising for this year's summer season. Chairman of the Balmoral Fund Dave Basset said: "The grant is a major step towards the Fund’s goal of returning Balmoral to service, offering summer cruises on the Bristol Channel and special programmes of sailings in other parts of England and Wales." He added that there are also plans to use her in a "static role" in the Floating Harbour when not in service and to place greater emphasis on educational opportunities. The Balmoral is a member of the National Historic Fleet, and officially recognised as a ship of national historic importance. Since she was built in 1949 she has carried some two million passengers.