However, the proposed creation of a slipway as part of the marina development has proved contentious.
One councillor branded the cost "excessive" and suggested using an existing slipway outside town.
The work is repairing significant corrosion to the crane rails and deterioration to the slipway.
The event, described as a celebration, took place on the very slipway from which Titanic left the shipyard.
The Marine Conservation Society (MCS) study found agricultural waste had been washed into Uphill Slipway beach from the River Axe.
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Clearance work has already taken place to unblock the waterway but a new boat house, slipway and landing stage will also be needed.
It is one of the last three traditional Filey "Cobles" still being launched most days from the slipway which leads straight onto the beach.
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High new entries also went to Enrique Iglesias' Greatest Hits collection at number three, who beat Razorlight's third album Slipway Fires into fourth place.
Drewry Shipping Consultants estimates that nearly half the ships due to be delivered last year are still sitting on the slipway or the drawing board.
The family of a woman who died when her car plunged off a slipway in Cornwall have paid tribute to a diver who tried to save her.
Reaching a slipway guarded on their approach by a fence running down into the water, some of the men plunged into the river and began swimming upstream.
About three years ago major repairs had to be made to the slipway at Nether Lochaber after the powerful propulsion of the MV Corran caused damage to concrete and piling.
Mr Blair needs to clean up the mess in Paisley fast, or risk seeing the new Labour flagship of Scottish devolution holed by Old Labour even before it has left the slipway.
To counter the high costs, he suggested putting the decision-making process on hold to allow a report and business case to be prepared on the potential for using an existing slipway at Wig Bay - four miles out of the town.
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