Some interesting background info on the Hoa Sen - Stena RoRo's Stena Egeriahttp://www.tradewindsnews.com/weekly/332365/stena-roro-buys-troubled-ropax-ferry-from-vinalines
A controversial vessel said to have played a major role in the downfall of Vinashin Ocean Shipping is heading for a new career under Swedish ownership
Vietnamese state-owned shipping conglomerate Vinalines has finally managed to offload the controversial 24,400-gt ropax ferry Hoa Sen (built 2001) — and well-placed sources close to Stena RoRo say the Swedish company has sealed a deal to acquire the ship.
Vinalines inherited the Hoa Sen when it was forced to take over bankrupt compatriot Vinashin Ocean Shipping. It is the last of seven arrested vessels that Vinalines has been attempting to sell as Vinashin Ocean’s operations are being wound down ahead of it being closed down.
No pricing details have been made public but TradeWinds is told Stena RoRo scooped a bargain.
The sale brings to a close a particularly grim episode in the history of Vietnamese shipping. The Hoa Sen is widely regarded as playing a significant role in Vinashin Ocean’s downfall. The company bought the ship in 2007 for EUR 60m (then $87m) as part of a plan to launch a luxury cruise ferry service along the Vietnamese coast.
Two even larger cruise ferries were acquired shortly afterwards from Italian interests. The deal was later called off, forcing Vinashin Ocean to forfeit hefty deposits it had already put down.
The Hoa Sen’s trading career under Vietnamese ownership was notably brief as it only managed to complete a handful of voyages before growing losses caused the service to be abandoned.
The ship has largely been laid up ever since. In recent years, it has been languishing under arrest in China after a brief charter to a Chinese operator ended in acrimonious circumstances.
Stena RoRo plans to restore the ship in a Chinese shipyard before returning it to service under the name Stena Egeria. The vessel is described as being in reasonable mechanical condition but in need of a lot of painting and cleaning.
The ship is deemed a perfect fit for Stena RoRo, which has been looking for modern, economical vessels that can easily be converted to run on methanol or be retrofitted with scrubbers to meet European emissions regulations that come into effect next year.
The Hoa Sen fits the bill as it is powered by two MAN Diesel & Turbo medium-speed main engines and has a relatively spacious casing and funnel that can accommodate scrubbing equipment. It is one of a large class of ropax ferries built in Italy by Visentini Cantiere.
The vessel type appears to be a favourite of Stena RoRo, which recently bought two others, the Trinacria and Partenope (both built 2002), from TTT Lines of Italy in an en-bloc deal worth EUR 48m ($65m). The pair have been chartered back to TTT Lines.http://www.vietnambreakingnews.com/2013/09/troubled-vinalines-leaves-crew-members-high-and-dry-in-china/#.Uxj_kT9_vKM
Crew members aboard a boat owned by Vietnam’s troubled state-run shipping firm Vinalines have been stuck in China for months and are complaining about poor living conditions and a lack of basic necessities.
The Hoa Sen boat has been anchored at a shipyard in Zhejiang Province without fuel, food or fresh water for the past two months.
Its crew members said in an email to news website VnExpress they want the government to allow them to go home.
The boat has no lights at night and it’s located in a “dangerous” location where many boats pass, VnExpress reported Monday, citing the email.
Crew members have not received money for food from the boat’s owner – Vinashinlines, a subsidiary of the Vietnam National Shipping Lines (Vinalines) – and they are all out of their own money.
“Sometimes we have to pick vegetables from the mountain and catch fish and crabs,” the email said.
They only have around 30 liters of fresh water, and they have stopped bathing.
They had worked on the boat for 13 months by the end of October but have only gotten paid for two months, said the crew members, all of whom have families to feed back home.
The Hoa Sen (Lotus) Ship was transferred to Vinalines from shipbuilder Vinashin, which nearly went bankrupt after piling up debts of $4.5 billion in 2010.
It was one of the five bad investments that put eight Vinashin officials in jail. The former board chairman had his 20-year sentence upheld at an appeal in August.
The used, Italian-made high-speed seagoing vessel was bought for $87.8 million in 2007. But it caused operational losses of $22.5 million and was docked in 2009 after 39 north-south trips.http://saigon-today.blogspot.ie/2009/10/vinashin-hoa-sen-in-cam-ranh-bay.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+SaigonToday+(saigon+today
and if this is accurate, it could explain the long time in drydockhttp://www.vietnambreakingnews.com/2013/03/old-cargo-ships-pose-environmental-issues-for-authorities/#.UxkCez9_vKM
The Hoa Sen (Lotus) Ship, operating under Vinashinlines, lies idle in port due to a crack in her hull. Over 40 cargo ships are in a similar situation nationwide because the current law on environmental protection doesn’t allow them to be scrapped. â VNA/VNS Photo