ENGLISH Channel ferry operator SpeedFerries looks to have definitively ceased activity after administrators appointed to run the company admitted that they had failed to find a buyer.
Joint administrators Angela Swarbrick and Tom Burton announced in a statement on the SpeedFerries website that the company would be closed and advised customers with pre-booked tickets to make alternative travel arrangements.
The company’s staff had been told last week that two prospective buyers were in contact with the administrators.
On Tuesday, however, the administrators said: "The joint administrators have been exploring every possible avenue to save the business since November 12, 2008 and it is unfortunate that a buyer for the business has not been found."
They said they would be contacting creditors, including customers, in due course.
SpeedFerries has been operating a single vessel service between Dover and Boulogne-sur-Mer since May 2004.
A self-proclaimed low-cost operator, its arrival on the route antagonised existing Dover Strait ferry operators but was widely welcomed by the car travellers who were its mainstay.
No reason has been given for the financial difficulties which led to the company’s collapse, which was precipitated by the arrest of its sole vessel, SpeedOne, on November 6 against arrears on ports dues claimed by the port of Boulogne. The company was also reported to have run up debts with the port of Dover.
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Due to industrial action at the port of Dover from 0700 Tues 18th until 0700 Thursday 20th November we would like to advise passengers that they may experience some congestion during this period and should allow extra time for check-in.
The port have advised that any disruption will be kept to a minimum.
Dover Boulogne ferry firm SpeedFerries has gone into administration. The beleaguered cross-Channel service hit problems last Thursday when its only craft, Speed One, was arrested by the port authorities in France in a dispute over unpaid port fees. Yesterday it emerged the company also owe a considerable sum to Dover Harbour Board for the use of the Western Dock. Crunch talks between the Boulogne Chamber of Commerce and SpeedFerries owner Curt Stavis began on Monday but failed to reach an agreement. SpeedFerries staff were called to a meeting with Mr Stavis at the hoverport this morning and told the firm had gone into receivership. One staff member told the Express they have been asked to continue working, despite being told they won't be paid, as other firms have shown an interest in taking on the business. This afternoon SpeedFerries issued a notice on its website to announce it has gone into administration. The notice says: "The affairs, business and property of the Company are being managed by the Joint Administrators, A Swarbrick and T Burton, who act as agents of the Company only and without personal liability. "On 12 November 2008, on the application of the Directors, the High Court of Justice, Chancery Division, made an Administration Order in relation to Speedferries Limited. Angela Swarbrick and Tom Burton of Ernst & Young LLP were appointed as Joint Administrators of Speedferries Limited. "The Administration is necessary because of SpeedFerries financial position and to ensure the best interests of creditors and customers are served. The Administrators are currently exploring the option of selling the business as a going concern." Crossings are cancelled until November 16 but customers are being asked to keep hold of pre-booked tickets in case of "developments." The directors and existing management structure will remain in place and they will be involved in the day-to-day operations but administrators A Swarbrick and T Burton have overall responsibility for the company. The option of selling the business as a going concern is being explored.
SpeedFerries in talks to release Speed One from Boulogne
Date: 11 Nov 2008Source: thisiskent.co.uk
A meeting scheduled between SpeedFerries and the Boulogne Chamber of Commerce failed to take place on Friday. Talks were due to look at finding a solution to the arrest of SpeedFerries Dover/Boulogne craft Speed One which was seized by the chamber last Thursday in response to unpaid port dues. A Chamber of Commerce spokesman said the meeting "did not happen." When pressed for a reason he added: "You will have to call Curt Stavis (SpeedFerries owner)." It has been rescheduled with members of the Chamber of Commerce and SpeedFerries in talks now about how to resolve the issue. A spokesman for SpeedFerries said the Friday meeting was postponed because "we didn't have a boat to get there." It is hoped an agreement can be reached by this afternoon as tomorrow is a French bank holiday for Armistice Day, meaning sailings will be cancelled until at least Wednesday if talks fail. The spokesman added: "We are canceling day by day at the moment. We will be able to make a decision on what happens next when we know the outcome of the meeting." Asked about how much holding the ship at Boulogne is likely to cost a chamber spokesman said: "I don't know."
Talks are being held between a cross-channel fast ferry operator and French officials after the company's vessel was seized over unpaid taxes and fees.
SpeedFerries is hoping the deadlock with the Boulogne Port Authority can be broken after four days of cancellations for its only vessel.
SpeedOne, which is based in Dover, was seized in Boulogne on Thursday.
Managers from SpeedFerries had been due to meet port officials to discuss the outstanding payments the following day.
A SpeedFerries spokeswoman said: "The meeting is between ourselves and our lawyers, along with the port authority, to try and thrash out whatever concerns they have.
"It was a bit optimistic for us to think that this could have been resolved at the weekend but we hope to be in a better position later to explain what has gone on."
Low-cost operator
Last week SpeedFerries chief executive officer, Curt Stavis, said the seizure was "totally unexpected" and came after the authorities had given a written assurance that no legal steps would be taken before the meeting.
But Boulogne Chamber of Commerce, which is also the Boulogne Port Authority, said the ship broker representing its account had obtained an order enabling the ship to be seized in lieu of the outstanding taxes and fees.
It said SpeedFerries had been notified of the order for "some considerable time" but that it had taken no measures to avert SpeedOne's seizure.
In a statement on Friday, the chamber of commerce said it was open to all solutions to resolve the dispute.
SpeedFerries was set up in 2004 as a low-cost operator and has one route between Dover and Boulogne.
HD Ferries has hinted that it may return in the spring following the dramatic drop in oil prices.
The troubled firm, which two months ago cancelled all autumn/winter routes because of high fuel prices and the economic downturn, said that it was ‘extremely encouraged’ by the recent worldwide decrease in oil costs.
Yesterday Brent oil, which peaked at $147.27 a barrel in July, was down to about $60 a barrel. HD Ferries’ management have recently met to discuss the operator’s future following the drop in prices, but stressed that a final decision will be made after Christmas.
Phil Jones, spokesman for HD Ferries, said: ‘Fuel prices are heading in the right direction and it is certainly good news for us. ‘We have held meetings about our future since the oil prices started to drop and we will keep an eye on what happens over the coming months.’
New ferry blessed with name of Celtic god of the sea
Date: 6 Nov 2008Source: Liverpooldailypost.co.uk
The new catamaran to link Liverpool with the Isle of Man was named by operators Steam Packet yesterday.
She will be known as Manannan, after the Celtic god of the sea and protector of the Isle of Man. The name was chosen in a competition on the chief executive’s blog.
The 96-metre vessel, currently having a full refit in Portsmouth, was bought in Tasmania and made the 12,000-mile trip to the UK in July.
She will enter service next year and will replace Viking on the Liverpool to Douglas sailings.
Manannan will be the largest vessel of her type in the Irish Sea. Steam Packet says she will “significantly enhance the company’s service” with a faster cruising speed, greater capacity, and more comfort.
Chief executive Mark Woodward said: “We felt the winning suggestion for the name epitomised the status of the new vessel within our fleet.”
Plans for a new Stena Line ferry terminal in south west Scotland should be lodged by the end of the month.
The company wants to move its Irish Sea services out of Stranraer and along the coast to Old House Point at Cairnryan.
It is estimated the project could cost up to £70m. It would cut journey times to Belfast and allow ambitious plans for Stranraer waterfront to progress.
Route director Alan Gordon said in the company's "best case" scenario the new terminal could be built by 2010.
Stena Line has to meet a number of requirements before the move can progress.
The company must submit an environmental impact assessment (EIA ) and seek a harbour empowerment order (HEO) from the Scottish Government.
A period of public consultation on its plans would then follow.
Previous plans
Mr Gordon said it was hoped that process could get under way soon.
"We would hope within the next four weeks to be able to submit the EIA and HEO," he said.
"Then it depends what objections come in whether there is a public inquiry, a hearing or written correspondence.
"After that whole process, if all the mitigation measures have been accepted, then the government would issue the permission."
He said that in the best case the new facility could be built by 2010 or, in the worst case, a year later.
Plans were ditched last year for a combined ferry terminal development between Stena Line and P&O in the area.
An HEO had already been granted for that proposal but it was decided it was "no longer economically viable".
Stena Line now looks set to go it alone with the new proposals.
If it vacates its Stranraer site it would clear the way for major plans to redevelop the waterfront area of the town.
Ferry company Wightlink is supporting Breast Cancer Awareness Month by putting a giant pink ribbon on one of its vessels. It is part of the month's activities to raise money for breast cancer research.
Wightlink's flagship ferry St Clare, which operates between Portsmouth and Fishbourne, Isle of Wight, is promoting the initiative onboard and will be wearing its ribbon with pride on Wear it Pink Day tomorrow.
Members of the public will be invited to wear a pink item and make a £2 donation to the charity.
Wightlink marketing manager Kerry Jackson said: 'Our staff members actively participate in Wear it Pink Day every year and now Wightlink will match donations from staff to mark our support for the campaign.'
Breast Cancer Campaign is dedicated to beating breast cancer by funding innovative world-class research to understand how the disease develops, leading to improved diagnosis, treatment, prevention and cure.