After the Capture of Gibraltar, victualling facilities were provided from a small quay around what is now the North Mole, but a lack of berths prevented further development.

In the 1720s, however, the building of the South Mole was accompanied by the establishment of a small dockyard facility consisting of a careening wharf, mast house, and various workshops.

In the early 1980s, a decision by the United Kingdom's Ministry of Defence to cut back the Royal Navy surface fleet meant that the dockyard was no longer financially viable.

In 1997, the British shipbuilding company Cammell Laird based in Merseyside, were looking to expand their operations outside the UK and in early 1998 a management team arrived at Gibraltar.

The dockyard's future was again put at risk when in early 2001, Cammell Laird Group PLC ran into difficulties, which eventually led to its closure.

The company continued to trade as Cammell Laird Gibraltar Ltd until 7 December 2009 when it was renamed Gibdock following the sale of the rights in the historic brand to Northwestern Shiprepairers & Shipbuilders in the UK for an undisclosed sum.

Balaena Ltd's intention is to use the yard for the fabrication of their own design offshore utility platforms alongside its traditional ship repair usage.