Jump to content

HONFLEUR - New Build for Ouistreham Route - CANCELLED


Recommended Posts

  • Replies 2.5k
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

That may well be the view being presented for now, but things can change. My point being that until the several thousand tons of hull sat floating actually have a decided future, I wouldn't 100% disco

I get the impression we've put more hours into this thread than the German shipyard have into the real ship. Ed. 

And don't forget that the ship's real achievement was the production of zero CO2 emissions, zero waste water and zero satisfied passengers for the whole of the 2019 summer season. Ed. 

Posted Images

2 minutes ago, Cabin-boy said:

I said last week that IF should take her over and rework the interior to suit their needs. If she's still a year from completion then that might be feasible. I smell a Euro-plot!

Ed

 

But what about the fuel system ?

 

Link to post
Share on other sites
3 minutes ago, Chef said:

But what about the fuel system ?

 

What about our new ferry we've been promised and have helped to finance over the last few years?

I agree that might be a challenge but I'm sure someone can deliver LNG to Holyhead if needed.

Ed

Link to post
Share on other sites
3 minutes ago, Cabin-boy said:

What about our new ferry we've been promised and have helped to finance over the last few years?

I agree that might be a challenge but I'm sure someone can deliver LNG to Holyhead if needed.

Ed

See my comment in another thread. Roué has told employees to expect 5 tough years, the time needed to repay the € 170 million government backed loans obtained. Salaries should not be affected, but staff cuts are inevitable, hopefully mainly only seasonal employees.

Tough times. It would have been so different if some of us here had been in charge of course, he says, promptly running for cover behind his Ricard glass.

  • Like 1
Link to post
Share on other sites
11 minutes ago, colin said:

Tough times. It would have been so different if some of us here had been in charge of course, he says, promptly running for cover behind his Ricard glass.

It might have been though with someone like Gourvennec running it.

Link to post
Share on other sites

This is disappointing, if not entirely surprising .  What are the financial implications for BF, what sort of deposit would they have had to put down?  Could be somewhat difficult to recoup from a firm that is essentially bankrupt...

Edited by Chaplain
Link to post
Share on other sites

those deposits are usually covered with bank guarantees. Of course there would have to be a legitimate reason to cancel - but that is given, with the long delay and the insolvency of the Yard.

Link to post
Share on other sites

Many thanks. Makes sense.  Could BF be looking at the possibility of new owners taking the yard over, then going back to see if they can get a better deal to complete the vessel at FSG, or alternatively buy the hull and take it for completion elsewhere?  Or is it simply they no longer need the vessel given all that is going on...

  • Like 1
Link to post
Share on other sites
Just now, Gareth said:

Should have done this 18 months ago.

It would be very interesting to know chapter and verse of the original contract, payment terms and schedules, penalties if any, and how the situation then evolved through the yard turmoil, delays and so on. Without all that we are in pure conjecture mode.

  • Like 2
Link to post
Share on other sites

A point of interest will be whether this is purely a case of they can’t afford it in light of Covid losses, or whether it is the first indication of a review of fleet needs for the way they see operations going forward.  Does this indicate, for example, a withdrawal from Le Havre.  Or...are they just going to get another one built elsewhere?  As Colin says, the details will be interesting.

Link to post
Share on other sites
1 minute ago, Gareth said:

Or...are they just going to get another one built elsewhere?

They have borrowed as much as they can and are on the hook for renting the eflexers for 5 years, the next 5 years will be about reducing services and costs and getting more from us. I doubt if anything is safe, they can now make some very unpopular decisions and blame it on the virus.

  • Like 2
  • Sad 1
Link to post
Share on other sites
2 minutes ago, Gareth said:

A point of interest will be whether this is purely a case of they can’t afford it in light of Covid losses, or whether it is the first indication of a review of fleet needs for the way they see operations going forward.  Does this indicate, for example, a withdrawal from Le Havre.  Or...are they just going to get another one built elsewhere?  As Colin says, the details will be interesting.

Maybe a new one capable of Spain in 24 hours. Not to flash just good cabins, comfortable seating  areas and a middle of the range eating option.

Unlikely I know but just thought I might as well have my two pence worth

Link to post
Share on other sites

I think that regardless of the stick BF management get here, they have faced a situation far beyond anything experienced before, and will have focused on preserving the company, employment and some form of ability to face the future. This decision may well have come down to a simple calculation of what has been lost, what will be needed financially to have her delivered and whether the latter can be justified in the market conditions expected for the next few years?

Edited by colin
  • Like 4
Link to post
Share on other sites
15 minutes ago, Chaplain said:

Many thanks. Makes sense.  Could BF be looking at the possibility of new owners taking the yard over, then going back to see if they can get a better deal to complete the vessel at FSG, or alternatively buy the hull and take it for completion elsewhere?  Or is it simply they no longer need the vessel given all that is going on...

That’s true.  It could just be a bargaining move.

Link to post
Share on other sites
Just now, Gareth said:

That’s true.  It could just be a bargaining move.

I can't see them getting the financing for it - the comments yesterday discussed them borrowing the maximum. One possibility if BF are still interested is to get Stena to take it over and BF to rent it - however that would probably be worse cash flow wise.

Link to post
Share on other sites
9 minutes ago, colin said:

I think that regardless of the stick BF management get here, they have faced a situation far beyond anything experienced before, and will have focused on preserving the company, employment and some form of ability to face the future. This decision may well have come down to a simple calculation of what has been lost, what will be needed financially to have her delivered and whether the latter can be justified in the market conditions expected for the next few years?

Indeed.  I still don’t think it’s a foregone conclusion that BF will survive this crisis.

Link to post
Share on other sites
  • Gareth locked this topic
Guest
This topic is now closed to further replies.

×
×
  • Create New...