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TonyMWeaver

Oscar Wilde - Sale

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COMPANY ANNOUNCEMENT

Sale of M. V. Oscar Wilde

Irish Continental Group plc (“ICG”) announces that it has entered into a bareboat hire purchase agreement for the sale of the cruise ferry “Oscar Wilde” to MSC Mediterranean Shipping Company SA.

The total gross consideration for the sale is €28.9 million, payable in instalments over 6 years, up to 2025. Delivery to the buyer is expected to take place during April 2019.

The “Oscar Wilde”, built in 1987, was acquired by ICG in 2007 and was operated by its subsidiary Irish Ferries on the Ireland – France route. The proceeds less the net book value of the Oscar Wilde (€7.7 million) and related disposal costs will result in a profit on disposal which will be reported as part of the 2019 financial results of ICG.

 

https://www.rte.ie/amp/1041978/

Edited by TonyMWeaver

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So, ICG finally make the announcement. Worth noting the price too considering that there are those who believe ferries such as Bretagne only have scrap value.

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MSC = SNAV whose only current overnight route is Split to Ancona using the Aurelia, which they've only just purchased after years of chartering. They could perhaps be looking to double up on that route.

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3 hours ago, jonno said:

So, ICG finally make the announcement. Worth noting the price too considering that there are those who believe ferries such as Bretagne only have scrap value.

How much would scrap value be?

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Plates and girders are just over a hundred pounds per ton. 

https://www.google.com/url?sa=t&source=web&rct=j&url=http://scrapmetalreaders.co.uk/scrap-metal-prices/&ved=2ahUKEwiLiLbZq8jhAhWi3eAKHYfQB-4QFjALegQIAhAB&usg=AOvVaw0Xz5TY7jTjn1hY6dysv3_T&cshid=1554996137517

Taking her weight from Wikipedia that puts her value at around £3.5m. Not much! Plus you'd have the problem of getting her to Burnley. A high speed run into Blackpool beach on the Lancashire coast might not take you far enough inland. 😂 Ed. 

Ed

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46 minutes ago, Cabin-boy said:

Plates and girders are just over a hundred pounds per ton. 

https://www.google.com/url?sa=t&source=web&rct=j&url=http://scrapmetalreaders.co.uk/scrap-metal-prices/&ved=2ahUKEwiLiLbZq8jhAhWi3eAKHYfQB-4QFjALegQIAhAB&usg=AOvVaw0Xz5TY7jTjn1hY6dysv3_T&cshid=1554996137517

Taking her weight from Wikipedia that puts her value at around £3.5m. Not much! Plus you'd have the problem of getting her to Burnley. A high speed run into Blackpool beach on the Lancashire coast might not take you far enough inland. 😂 Ed. 

Ed

Obviously Bretagne would be worth more as she’s laced with gold 😉

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19 minutes ago, Gareth said:

So is this the end for Rosslare - France services from Irish Ferries?

Looking at the website, it would indeed appear to be the end.  Both for Rosslare services and Roscoff services.  The only IF route to France in their 2019 route network is Dublin-Cherbourg.  End of an era, particularly in respect of Rosslare.  ICL has been sailing from Rosslare to France since, when, around 1973?

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I don't think Epsilon has covered winter maintenance for Isle of Inishmore at Pembs either, certainly not when I lived there. If I remember the draft is only 7.5m on the berth... too shallow for a ship needing over 6.5m, the Haven is rocky and filled with WWII Sunderland flying boat debris... not to mention that the Visentini is going back next year even if MHPA planned anything.

I wonder if there's something going on there too. Are ICG planning to close their remaining Rosslare link over winter?

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On 11/04/2019 at 20:47, Gareth said:

Looking at the website, it would indeed appear to be the end.  Both for Rosslare services and Roscoff services.  The only IF route to France in their 2019 route network is Dublin-Cherbourg.  End of an era, particularly in respect of Rosslare.  ICL has been sailing from Rosslare to France since, when, around 1973?

The St Patrick was delivered to Irish Continental Line on the 29 May 1973 and she inaugurated Rosslare to Le Havre on the 02 June 1973.

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On 11/04/2019 at 16:28, Cabin-boy said:

Plates and girders are just over a hundred pounds per ton. 

https://www.google.com/url?sa=t&source=web&rct=j&url=http://scrapmetalreaders.co.uk/scrap-metal-prices/&ved=2ahUKEwiLiLbZq8jhAhWi3eAKHYfQB-4QFjALegQIAhAB&usg=AOvVaw0Xz5TY7jTjn1hY6dysv3_T&cshid=1554996137517

Taking her weight from Wikipedia that puts her value at around £3.5m. Not much! Plus you'd have the problem of getting her to Burnley. A high speed run into Blackpool beach on the Lancashire coast might not take you far enough inland. 😂 Ed. 

Ed

In all seriousness she could get down the Mersey and down the MSC or down the Ribble and be broken up quayside.

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