P+S Werften Expects Green Light on DFDS Newbuilds
The insolvency administrator expects Volkwerft Stralsund Yard to resume work soon on the two DFDS RoRo newbuildings. The DFDS order had been previously cancelled when P+S Werften went into administration. Dr. "The signed order for two RoRo special vessels for the Danish shipping company DFDS is now in our hands and is subject to various conditions. As we believe that these conditions will be fulfilled, the insolvency administrator of P+S Werften has instructed the operating company…
Lürssen Group Buys the Peene shipyard
In a meeting of the creditor committee, and acting on the suggestion of the insolvency administrator, Berthold Brinkmann, P+S WERFTEN decided in favor of the Lürssen Group (Bremen) as the buyer of the Peene shipyard in Wolgast. This decision is subject to approval by the creditors holding liens on the property. The purchase agreement has already been concluded. As of May 1, 2013, the Lürssen Group will acquire the compact shipyard with its repair and new construction area. The purchase is also subject to approval by the Federal Cartel Office. The purchase price is less than 20 million euros. Berthold Brinkmann: “Lürssen offered the best purchase price.
Rescue Aid for German Shipbuilder Approved by EC
The European Commission has authorised under EU state aid rules, a state guarantee backing a rescue loan of €152.4 million for the German shipbuilder P+S Werften in Mecklenburg-Vorpommern. The aid is in line with EU rules on rescue aid because it is limited in time and scope. The Commission approved the measure temporarily, until it can take a position on the restructuring plan to be submitted by Germany within maximum six months. The Commission authorised a short-term measure to tackle liquidity problems and enable P+S Werften to pay creditors and properly maintain production pending the implementation of a restructuring plan. P+S Werften GmbH was created in 2010 through the merger of the two long-established German shipbuilding companies Volkswerft Stralsund GmbH and Peene Werft GmbH.
New Orders for Large Common-rail Engines
Sulzer RT-flex96C low-speed diesel engines have been ordered by Odense Steel Shipyard A/S in Lindø, Denmark, for installation in four 3700 TEU L-class container ships building there for the Danish group A.P. Møller - Mærsk, Safmarine and Deutsche Afrika Linien. The ships are due for delivery in 2004 and 2005. These are further examples of the most powerful diesel engines so far announced to have electronically-controlled common-rail fuel injection. The first Sulzer RT-flex96C engines were ordered in April 2003. The eight-cylinder engines will each develop 45,760 kW (62,240 bhp) at 102 rev/min. The engines will be built under licence from Wärtsilä Corporation by HSD Engine Co Ltd in Korea.
