DFDS Cancels P+S Werften Shipbuilding Contracts
Short sea RoPax ferry operators DFDS cancel contracts for two RoRo freight ships from Gernan shipyard in liquidation.
DFDS say that the contracts worth DKK 1.0-billion are cancelled on account of the shipyard’s breach of several terms of the contracts, while the payments that have been made to the shipyard are covered by a bank guarantee.
The consequences of the cancellation of the contracts for DFDS’ future tonnage requirements cannot at this stage be determined with a reasonable level of certainty. Likewise, the amount of any one-off costs that may result from the cancellation cannot yet be determined by DFDS.
The newbuildings were included in DFDS’ expectation for investments for 2012 with an amount of DKK 450m.