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Displaying items by tag: Sell to MSC

#ferries - Irish Ferries cruiseferry Oscar Wilde which operated Rosslare based routes to France until last year has according to owners Irish Continental Group to be disposed following an agreement to sell the 1987 built ship to a new owner.

Under the terms of a bareboat hire purchase agreement, ICG has agreed to sell the Oscar Wilde to MSC Mediterranean Shipping Company SA.

The Swiss based group Afloat adds is a major player in the global container market and has divisions involved in cruiseships and ferries serving in the Mediterranean Sea. 

The total gross consideration for the sell of Oscar Wilde is €28.9 million, payable in instalments over 6 years, is to take up to 2025. Delivery to the buyer of the 1,400 passenger/580 car capacity cruiseferry is expected to take place during April 2019.

As for Rosslare Europort based routes to France this season, Irish Ferries have yet to confirm with an update following a decision in December that they were unlikely to operate a service between Rosslare and France in 2019 but added then this situation was under review.

Kronprins Harald was acquired by ICG from Norwegian operator Color Line in 2007 to begin a Irish Ferries career on the French services to Cherbourg and Roscoff. Since Autumn last year, the ship was transferred to Dublin to provide cruiseferry services on the Cherbourg route in advance of the much delayed newbuild W.B. Yeats. This much larger cruiseferry entered service on the direct Dublin-France route almost a month ago. 

The proceeds according to ICG less the net book value of the Oscar Wilde (€7.7 million) and related disposal costs will result in a profit on disposal. It said this will be reported as part of the 2019 financial results of ICG. 

Published in Ferry

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