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Ferry News Archive

Euro Ferries under scrutiny

Date: 28 Aug 2006 00:00 Source: 13wham.com

The buyer of a fast ferry continues to keep details about its financial ability to purchase the ship private. Euroferries Ltd has also not disclosed when it plans to close on the $29.8 million deal.

Euroferries plans to run a competitive ferry service across the English Channel.

British newspapers are giving some insight about why the deal is taking so long to close.

On the Web, Euroferries promises the launch of its new ferry service is imminent. But the site has not been updated in almost six months.

The story of Euroferries began when Hoverspeed closed for business.

Last November, Hoverspeed decided to shut down it's high speed service in the English Channel.

Four companies, Norfolkline, SpeedFerries, Sea France and P&O Ferries, already operate 10 ferries across the English Channel. P&O, the largest, lost $9.5 million in the first three months of 2006.

When Hoverspeed was shut down by its parent company, it was owned by Geoffrey Ede. He is also the man now trying to launch Euroferries. According to the Port of Dover, Euroferries has a lease to operate, but has not signed the legal agreement.

In a written statement, Euroferries said it has a “clear and well thought out strategy for this project.” The company is not prepared to share details.

Mayor Duffy has said he is anxious for the sale to close and has set a deadline. He has not released that date publicly. Other interested companies continue to tour the Spirit of Ontario. The mayor said one company will take a second tour this week, but he would not provide more details.

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