Ferry News Archive
Interest grows in Transmanche Ferries
Date: 01 Aug 2006 00:00 Source: Lloyd's Register - FairplayInterest in the takeover of French cross-Channel ferry operator Transmanche Ferries is growing significantly as the deadline for offers was expected to close at the end of July. The latest reported interest comes from Veolia Transport, which recently took a 28% stake in SNCM and is expected to take full control of the Marseilles-based company in the long run.
Veolia's interest in TF illustrates the French group's intention to expand strongly in ferry trades in Northern and Southern Europe in the near future. Calais-Dover ferry specalist Seafrance has also registered an offer for TF in a move to expand its freight coverage on the Channel. Corsica Ferries is also said to be interested, as is Norfolk Line as it seeks to expand its freight ferry network in Europe.
So far, the front runner has been Louis Dreyfus' LD Lines, which successfully took over the Le Havre-Portsmouth freight and passenger service suspended by P&O Ferries late last year. LD Lines there are benefits to be gain from a combination of the companies, both in terms of services offered and fleet deployed.
TF currently operates two vessels on its Dieppe-Newhaven ferry line, the 600-passenger newbuilding Cote d'Albatre and the 1400-lane metre ro-pax Dieppe. In October, TF will take delivery of a further newbuilding, Seven Sisters, a sister to the Côte d'Albatre. Although still posting deficits, TF could turn out to be an attractive company for the winning bidder, since funds will be allocated to offset current deficits. The public body Conseil General de Seine Maritime will then withdraw from the direct operation of the line.
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