Another FSG New Build

Started by Steven, January 02, 2018, 08:18:40 AM

Previous topic - Next topic

Steven

Irish Continental Group plc : Irish Continental Group plc invests €165.2 million to build a new cruise ferry for Dublin - Holyhead route

Released : 02 Jan 2018 07:00

Company Announcement

Irish Continental Group plc invests €165.2 million to build a new cruise ferry for Dublin - Holyhead route

Irish Continental Group plc ("ICG") has entered into an agreement, with the German company Flensburger Schiffbau-Gesselschaft & Co.KG ("FSG"), whereby FSG has agreed to build a cruise ferry for ICG at a contract price of €165.2 million.  Upon completion, it will be the largest cruise ferry in the world in terms of vehicle capacity.

The cruise ferry will accommodate 1,800 passengers and crew, with capacity for 5,610 freight lane metres, which provides the capability to carry 330 freight units per sailing.  Overall, it will effectively be a 50% increase in peak freight capacity compared to the MV Ulysses.

The Agreement between ICG and FSG provides that the cruise ferry is scheduled for delivery before Mid-2020. Twenty percent of the contract price will be paid in instalments during the construction period. The balance of 80% will be paid on delivery.  ICG intend to utilise credit facilities to finance the cruise ferry.  The pre-delivery instalment payments to FSG will be protected by means of bank guarantees.

This cruise ferry will be designed and built to the highest standards of cruise shipping, and equipped with efficiency, comfort and capacity in mind.  Emissions scrubber technology (included in the above price) and ballast water systems will meet current and known future environmental regulations and will deliver optimal fuel consumption while minimising related costs.  The cruise ferry will be powered by four main engines delivering 33,600 KW of power which will ensure a high degree of service reliability equal to the MV Ulysses which is currently the most reliable ship to ever operate on the Irish Sea.

The cruise ferry is being built specifically for Irish Ferries Dublin - Holyhead services.  It is expected to replace the schedule of the MV Ulysses, which in turn will replace the currently chartered vessel MV Epsilon in the fleet.  This will allow for the deployment of the W.B. Yeats (arriving Mid 2018) full-time on the direct Ireland - France route alongside the MV Oscar Wilde.  The cruise ferry will also adhere to Ice Class specification which allows for a wide geographic area of operation.

Freight capacity will be provided over five decks.  Uniquely, the vessel has been designed for three tier freight bow loading to allow for efficient loading/unloading and quick turnaround times.  Passenger facilities will be spread over three decks.  In addition to a superb choice of bars, restaurants (to include both á la carte and self-service options), special provision has been made for premium Club Class passengers, with a dedicated lounge featuring private access direct from the vehicle decks.  A choice of state-of -the-art entertainment options and cinemas, dedicated facilities for freight drivers, as well as many retail outlets will ensure that all passengers will be comfortable and engaged throughout their journey.

This new cruise ferry provides Irish Ferries with a significant increase in both its freight & tourism carrying capacity on the fast-growing Dublin - Holyhead route.

Cruise Ferry Particulars

  Cruise Ferry Details Ulysses
Gross tonnage (estimated) 67,300t 50,938t
Deck capacity
Trucks (maximum)
Trucks (effective peak capacity)
or
Cars (maximum) 

330
300



1,500 

241
200



1,342
Passenger Capacity 1,800 1,850
Passenger Cabins 152 96
Engine/output (4 engines) 33,600 KW 31,200 KW
Speed 22.8 knots 22.0 knots
Referring to the announcement Eamonn Rothwell, Chief Executive Officer, commented that;

"This investment underpins the confidence the Group has in the markets in which we operate. Alongside the recent investment in the MV W.B. Yeats, it brings our total investment to €315m for these two vessels designed for our operations on the Irish Sea.  The construction of a cruise ferry of this size will offer both additional capacity and an enhanced experience for both our tourism and freight customers.  This infrastructural investment enhances "the bridge" to the UK & Continental Europe that is a vital part of the continued success of Ireland's open economy."

02 January 2018

END

http://otp.investis.com/clients/uk/icg1/rns/regulatory-story.aspx?cid=500&newsid=962216
Steve in Belfast (suburbia)

Flickr: www.flickr.com/tarbyonline

ferryfan

Option exercised! So the WB will be permanently moved to Dublin-France, presumably the OW will then become a more seasonal service ex Rosslare. Given that the OW is off service from September this year (Epsilon providing all France services from October) maybe she is off for a long over due and much needed modernisation?.  I also suspect that the end of the Swift is signalled by this announcement. Exciting times I wonder what Stena will do as they will have to react to this.

Davy Jones

They haven't said how long she is likely to be. Given the size of WB Yeats currently in the build hall she is unlikely to be much wider, and to build her higher than Ulysses will affect her draft which is critical at Dublin. I assume that she is therefore going to be quite a bit longer than the current stable, which will affect port infrastructure (in addition to fitting the third loading tier). Stena may take advantage of that at the same time, and reply by either lengthening either one of the new builds or Adventurer or bringing in her sister ship Scandavinica. Would it be enough though?

A83

This is news indeed, Irish Ferries in exercising the second option seem to be clear  that the priority [growth?] routes are Dublin-Holyhead and Ireland [Dublin?]- France.

This approach seems to leave Rosslare- South Wales as the poor relation regarding the UK and indeed it makes one wonder if there is a question mark over Rosslare- Cherbourg/Roscoff?  Given the opening of the Enniscorthy bypass in 2019 Rosslare should be easier to access from Dublin and Belfast. Maybe Rosslare is not so attractive if faster more fuel efficient  ships can do the same trip in the same time from Dublin to France?

It also seems that IF are confident that Brexit will not cause bottlenecks in Holyhead and that they will be able to discharge the increased number of trucks quickly.

Interesting times.

ferryfan

Is this an early indication of the actual ship?

CH1

Does anyone have a guess or prediction of Stena's reaction on Ireland to France routes ?

SEA

THE OSCAR WILDE  is 30 years old so lets face it she has to be more problematic and far more expensive and far more un economical to run than the newer ships.
She is a beautiful ship internally and externally but I reckon with the new tonnage arriving sadly her days are numbered .
I don't ever think Rosslare France routes will ever be axed . However how this will be achieved in have no idea

CH1

And then OW will need to be replaced, but how ? I wonder if Stena could focus only on the Cherbourg-Rosslare route rather than opening a direct link to Cherbourg with an Adventurer or a Seatruck unit

Steven

Personally I think we'll see Oscar stick around for a few years yet, at least on a seasonal basis, unless a good offer is received for her.  The lack of any reference to the fast service between Holyhead and Dublin suggests to me that the introduction of this new vessel will lead to it being withdrawn.  They should have ample passenger capacity after all between this and Ulysses. 

As for Stena's reaction, we'll have to wait and see.  It was looking like E-Flexer 1 would end up at Holyhead anyway, so I'd say thats pretty certain to happen now.  They could always find something on the second hand market in the meantime (what and from where I have no idea mind!), or modify something else.  For all we know they could secretly be building a deathstar in Korea somewhere  :o  :o !

Whether there is a future in Rosslare - France remains to be seen but Oscar and Horizon are still there.  Its early days for the Dublin to France services, but if the operators can offer a similar crossing time to Dublin (which is more convenient for a lot of people as well as hauliers) then Rosslare won't look as attractive as it once did, even I would argue if there is a small premium to be paid for the extra distance covered at sea.  Epsilon must have done pretty well for ICG to be confident enough to be throwing €160m odd of tonnage investment at France though!   Dublin also has the potential to become a hub in much the same way as Belfast has for Stena, Rosslare less so as the freight volumes simply aren't there. 
Steve in Belfast (suburbia)

Flickr: www.flickr.com/tarbyonline

CH1

And then where Ulysses could go, in your opinion ? Cherbourg Ireland route ?

Steven

#10
Quote from: CH1 on January 02, 2018, 06:19:10 PM
And then where Ulysses could go, in your opinion ? Cherbourg Ireland route ?
Is it not pretty clear from the original announcement that she's staying where she is, albeit on the rota of the "second" ship (currently Epsilon)?

Quote from: A83 on January 02, 2018, 02:17:23 PM
This is news indeed, Irish Ferries in exercising the second option seem to be clear  that the priority [growth?] routes are Dublin-Holyhead and Ireland [Dublin?]- France.

This approach seems to leave Rosslare- South Wales as the poor relation regarding the UK and indeed it makes one wonder if there is a question mark over Rosslare- Cherbourg/Roscoff?  Given the opening of the Enniscorthy bypass in 2019 Rosslare should be easier to access from Dublin and Belfast. Maybe Rosslare is not so attractive if faster more fuel efficient  ships can do the same trip in the same time from Dublin to France?

It also seems that IF are confident that Brexit will not cause bottlenecks in Holyhead and that they will be able to discharge the increased number of trucks quickly.

Interesting times.

Of course Rosslare - South Wales is the poor relation, the volumes handled in comparison to Dublin - Holyhead speak for themselves!  Isle of Inishmore is an excellent vessel, or would people prefer ICG switched her with the "newer" Epsilon?  Essentially thats whats happening, Epsilon (and Swift?) is being replaced. Oscar remains a popular vessel with many, despite her age.  It doesn't make much sense though to run with such a passenger orientated vessel year-round though when there are only a handful of passengers at times.

As for Brexit, any effect will affect everyone no matter what the port of entry.  Dublin and Holyhead are as well placed to cope as anywhere else as things stand.
Steve in Belfast (suburbia)

Flickr: www.flickr.com/tarbyonline

SEA

Reading the ICG  statement it looks as if Epsilon is going back to her owners don't think anyone will be sorry to say goodbye to her.....
The cruise ferry is being built specifically for Irish Ferries Dublin - Holyhead services.  It is expected to replace the schedule of the MV Ulysses, which in turn will replace the currently chartered vessel MV Epsilon in the fleet.

giftgrub

Great news for the Irish Sea and a massive investment in a new ship. One would assume this is the option on the contract for WB Yeats.

Very interesting development with triple deck loading at the bow, one assumes in Dublin port, the ramp will have to be massive to accommodate trailers that high up. I am no engineer but having a deck that high filled with trailers will require some serious stability planning when loading the ship.

Also having the Ulysses replaced by something with a much bigger trailer capacity is as big a move forwards as the introduction of the Ulysses was itself when replacing Inishmore.

Going to interesting to see the impact this order will have on the competition on all Irish Sea routes as the capacity increases on the central corridor with this replacing the Ulysses against Adventurer and Ulysses sailing against Superfast X / or E-Flexer 1 replacing same, will certainly increase traffic and capacity into Dublin port but at what cost to other ports.

CH1

Sorry to be insisting about France (I am from Cherbourg), but from a "Cherbourg point of view", this looks very interesting. It's been more than one year we have been hearing about rumours announcing the arrival of Ulysses along with the WBY on a year round high capacity service from Cherbourg to Dublin.
Other rumours says that Stena will either place one of their E-Flexer's on the Rosslare-CH route or reacting by opening something new between Ireland/Northern Ireland and France.

What do you think about it ? (as here, in Cherbourg, we do not have a clear idea about the future of our traffic with Ireland)

giftgrub

#14
Quote from: CH1 on January 02, 2018, 09:12:57 PM
Sorry to be insisting about France (I am from Cherbourg), but from a "Cherbourg point of view", this looks very interesting. It's been more than one year we have been hearing about rumours announcing the arrival of Ulysses along with the WBY on a year round high capacity service from Cherbourg to Dublin.
Other rumours says that Stena will either place one of their E-Flexer's on the Rosslare-CH route or reacting by opening something new between Ireland/Northern Ireland and France.

What do you think about it ? (as here, in Cherbourg, we do not have a clear idea about the future of our traffic with Ireland)

Unlikely Ulysses will go on France route, it was designed for Dublin - Holyhead and has served the route with great reliability and primarily a day ferry with limited cabins versus passenger capacity, not ideal on overnight long crossings, best comparison is to liken the Ulysses to the purpose built Dover Calais P&O pride and now Spirit vessels, they are designed to do what they do very well on the routes they are built for.

The WB YEATS becoming full time Irl France is huge news and will be interesting to see what will happen with Dublin France.

Building these massive ferries is great but the ferry companies have to fill them as well, so overcapacity is something no owner will want to have.