Displaying items by tag: Liquidation

10th October 2017

Green Marine, UK Performance Yacht Builder, Goes Into Liquidation

Green Marine’s composite manufacturing facility in Hythe

#TradeNews - BBC News reports that Green Marine, the high performance yacht builder in the UK responsible for entries in the Volvo Ocean Race and America’s Cup, has gone into liquidation.

Forty-six jobs have been lost with the end of trading at the boatbuilder, which moved its core business to Hythe in Hampshire from Lymington and Southampton in recent years in order to take on multiple projects.

A slowdown in large yacht orders has been blamed for the decision to enter voluntary liquidation — though a Scuttlebutt Europe reader alleges manoeuvres at the builder’s Dutch owners Vitters undermined its ability to prosper.

Green Marine build more than 180 boats since it was founded in 1982, specialising in custom racing yachts such as those competing in the Volvo Ocean Race, the Vendée Globe, and Sir Ben Ainslie’s recent America’s Cup challenge.

BBC News has more on the story HERE.

Published in Marine Trade

Tagged under

Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

Tagged under

Boats to be Sold in Cork Liquidation Sale

Fancy a pre-season boat bargain? It may well be on offer later this month at a 'liquidation sale of boats' due to take place in County Cork with a selection of unused and used power boats. The sale is by order of Mr. Barry Donohue, KPMG, Liquidator, HM Yachts Ltd (In Voluntary Liquidation).

The boats on offer include three unused Jeanneau motoboats inlcuding the popular Merry Fisher Legend. The vessel comes with Suzuki 50HP Four Stroke Engine and road trailer, ready for the season!

The sale will take place at 12 noon on Tuesday 29 March 2011. Viewing is from 10am - 4pm Monday 28 March 2011 or by appointment. The sale takes place at the Michael Murphy Yard, Mission Hill, Kinsale, Co. Cork. (Across from Bandon Co-Op)

4_1

For sale: The Merry Fisher Legenda 585 Motor Boat

There are ten lots (including a van) but for the boats for sale include:

Unused Jeanneau Cap Camarat 715wa Motor Boat with a Hallmark Double Axle Trailer with Winch and Rollers, White / Blue.

Unused Jeanneau Cap Camarat 515 Style Motor Boat with a Suzuki 50HP Four Stroke Engine, Model DF50, Plus a Hallmark Single Axle Trailer with Winch and Rollers, White / Beige.

Unused Jeanneau Merry Fisher Legenda 585 Motor Boat with Enclosed Cabin with an Indspension Roller Coaster Single Axel Trailer with Winch and Rollers, White / Blue.

2006 Maxum 2400 SC3 26ft Motor Boat with 300Hp Petrol Inboard Engine with Double Axle Trailer, White / Blue.

2005 O'Sullivans Marine 710 23ft Fishing Boat with Cabin, Yanmar 27hp Diesel Inboard Engine, White / Blue, Name Mary-Linda.

For further details, please contact E-Auctions T: +353 45 883 554. More HERE.

Published in Boat Sales

Tagged under

Offshore wind

ESB know the importance of offshore wind in tackling climate change and delivering net zero. Ireland has a unique capability given its prime location to take advantage of the potential of offshore wind. ESB are working hard to develop offshore wind projects for the benefit of everyone across society in Ireland and the UK. This includes ongoing engagement with marine users and local communities so ESB can deliver these significant projects.

Offshore wind will play a major role globally in our fight against climate change. It will help to replace energy generated by burning fossil fuels with that from a clean, safe and secure renewable energy source. Ireland’s geographic location on the exposed edge of the Atlantic presents us with a significant opportunity to generate electricity from wind – both offshore and onshore.

Power from onshore wind farms currently provide over one-third of Ireland’s electricity needs. But, whilst its marine area is many times the size of its landmass, Ireland’s offshore wind potential is only starting to be realised. ESB have a coastline stretching over 3,000km but only one operational offshore wind farm – Arklow Bank, with a capacity of 25 MW. In contrast, Belgium’s coastline is only 63km long, but it has already developed more than 2,000 MW of offshore wind. In Great Britain, with a coastline four times the length of ours, offshore wind generation now equates to over 440 Arklow Banks, with an installed capacity of 11,0000 MW as of late 2021.

The Irish Government's target to install 5,000 MW of offshore wind capacity in our maritime area by 2030 is set out in the Climate Action Plan 2021. It also has the objective to source 80% of Ireland’s electricity needs from renewables by the same year. In line with this, ESB is applying its professional and proven engineering expertise to the challenges set within the Climate Action Plan.

ESB are committed to playing a strong role in developing Ireland’s offshore wind potential for the benefit of the people of Ireland. This will be done in consultation with marine users and local communities, and with due care for the marine environment.