Blyth Shipbuilding & Dry Dock Co Ltd, builders of the Sheaf Water. On the 2nd March 1883 the Blyth Shipbuilding & Dry Docks Co was registered as a limited liability company. The company built liners, tramp steamers and colliers. In 1914 a cargo ship that was under construction was purchased by the admiralty and converted into a aircraft carrier, namely the Ark Royal. During WW1 the company built various naval vessels for the Admiralty. After the war the company returned to the construction of civilian merchant vessels. Due to the post war slump and collapse of the freight market the yard shut.
In November 1926 Robert Stanley Dalgleish, a Newcastle ship owner purchased Blyth Shipbuilding & Dry Dock Co. The yards name was changed to the Cowpen Dry Dock & Shipbuilding Co and was later almalgamated with Ritson's Shipbuilding & Engineering Co. After completing a number of vessels, the yard closed in 1930.
1937 saw the yard reopen under its former name. During WW11 the company was for the most part engaged in the building of British Naval vessels. In 1967, due to the company having run at a loss for five years, the yard closed its doors for the last time.