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Tuesday, August 21, 2018

Irish Continental Group News

ICG’s Ferry Newbuild Project Delayed

Ferry newbuild W.B. Yeats at the FSG pier (Photo: FSG)

The delivery date for Irish Continental Group’s (ICG) new ropax ferry W.B. Yeats has been pushed back due to delays at the shipyard, German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) said.The vessel, which is currently in the final stages of construction at FSG, was originally scheduled to be delivered in May 2018, but delays in the delivery of interior components for public areas as well as the installation of electrical system in the hull and deckhouse have forced…

Ledwidge Named CFO of Irish Continental Group

David Ledwidge (Photo: Irish Continental Group)

David Ledwidge has been appointed to the position of chief financial officer at Irish Continental Group Plc (ICG).   A Member of the Institute of Chartered Accountants Ireland and a Bachelor of Science graduate from Dublin Institute of Technology, Ledwidge joined ICG from accountants Deloitte in 2006.    Ledwidge has held various financial positions within the group, first as group risk accountant followed by his appointment as Irish ferries financial controller, and in 2013 was appointed Irish ferries finance director.

Irish Continental Group Release 2012 Results

Irish Continental Group (ICG) produced another resilient performance in the face of continued economic weakness, which affects both consumer travel and import/export trade flows, the two areas of economic interest for the Group. During the year, the Group announced and completed the sale of its subsidiary Feederlink. Revenue for the year from continuing operations was up 1.7% at €256.1 million while continuing EBITDA  was down 3.2%, to €45.8 million, due mainly to lower freight volumes in both RORO and LOLO and higher fuel costs (up €6.3 million to €53.2 million) largely offset by higher yields in the passenger business. The net interest…

Irish Ferries Owner Revenues up 9.6%

Irish Ferries

Irish Continental Group, the company behind Irish Ferries, posted a 9.6pc increase in revenue last year (2014) in taking Euro 290.1 million. ICG's ferry division grew by 14 percent - and its container & terminal division grew by 2.6 percent. Its pre-tax profits were €56.7m - up from €23.7m in 2013. Its earnings before interest, tax, depreciation and amortization (ebitda) rose by 2.6 percent to €50.5 million. This expansion was bolstered by the addition of the new "Epsilon" vessel that was added to the Irish Ferries fleet.

Aker Finnyards Delivers Unique Ferry

Irish Continental Group has taken delivery of its newest vessel, the $92 million cruise ferry m.v. Ulysses, from Aker Finnyards. With 2.6 miles (4 km) of deck space for commercial vehicles and cars, and accommodation for 2,000 people, the Ulysses is the largest ferry of its kind in the world, ICG said. The vessel, which is expected to arrive at Dublin port on Sunday, will enter service on ICG's route between Dublin and Holyhead in Wales in a month's time, it said. Ulysses is 50,938 grt and stands 12 decks high, with a keel-to-mast height of 167.5 feet. Onboard features include a complex of bistro-style restaurants, two cinemas, a 500-seat traditional Irish pub, a shopping mall, a helicopter pad, and a glass-fronted passenger lift, which operates on the outside of the vessel.

UK P&I Club Elects New Board

New Directors, UK P&I Board

Seven directors were elected to the Board of the UK P&I Club at its AGM in Athens on the 27th October. After obtaining a postgraduate degree in industrial engineering, Ibrahim Güngen founded Güngen Foreign Trade Co Ltd with his brother Mehmet in 1976 and the business quickly became the biggest importer of molasses in Turkey. Mr Güngen has been chief executive officer of Güngen Maritime and Trading since 1990. Dr Grahaeme Henderson, aged 56, joined Shell following a PhD in Engineering from Southampton University in 1980.

Irish Continental Group Half Year Results

In a comment John B. McGuckian Chairman stated, ‘‘This was a positive half years trading with increases in revenue and operating profit driven mainly by higher freight carryings and lower fuel costs, partially offset by weaker passenger markets. In the prior year the group disposed of its subsidiary Feederlink and the comparatives set out in the Interim Management Report have been restated to exclude trading from discontinued operations. The Board of Irish Continental Group plc (ICG) reports that, in the seasonally less profitable first half of the year, the group recorded revenue of €120.9 million compared with €117.0 million in the same period in 2012, an increase of 3.3%.

Irish Ferries Labor Dispute Continues

A labor showdown crippled Irish Ferries for a fourth straight day Monday, as company officials and union leaders refused to budge from their demands, presented in rival plans to independent mediators, according to an AP report. In dispute is the company's widely condemned plan to pay off 543 unionized workers from its key Britain-Ireland routes and replace them with Eastern European workers at much lower wages. None of Irish Ferries' four vessels tried to sail Monday, partly because Ireland's largest labor union - the Services, Industrial, Professional and Technical Union, known as SIPTU - warned that their members would refuse to let any of the company's vessels dock, according to the report.

Irish Ferries Splashes Out New $161 mln Vessel

Image: Irish Continental Group

Irish Ferries’ parent company, Irish Continental Group  (ICG) has signed an agreement with German shipbuilder Flensburger Schiffbau-Gesellschaft  (FSG)  to construct a new cruise ferry costing EUR 144 million (USD 161 million). ICG will capitalise on their existing cash resource and credit facilities to finance the construction of the vessel, which is scheduled to be delivered in 2018. The new cruise ferry will be fitted with emissions scrubber technology and ballast water systems aligned to current and the forthcoming environmental regulations.

Kongsberg Wins EPCI Contract for Newbuild RoPax Ferry

Kongsberg Maritime said it has been awarded an engineering, procurement, construction and installation (EPCI) contract worth more than NOK 120 million from Flensburger Schiffbau-Gesellschaft (FSG) for engineering and maritime technology deliveries to a RoPax ferry for Irish Continental Group (ICG). Kongsberg Maritime together with its wholly owned subsidiary Kongsberg Maritime Engineering (KME) will execute the project, which will see KME provide all engineering, procurement and project management while Kongsberg Maritime will supply a ‘full picture’ system delivery. The RoPax ferry will have a 194.8 m length overall and 31.6 m beam with a cargo capacity of 2,800 lane meters, and an additional dedicated car deck for 300 cars.

KONGSBERG wins EPCI Work for RoPax Ferry

Logo

Kongsberg Maritime has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract with Flensburger Schiffbau-Gesellschaft (FSG), a subsidiary of Siem Group. The contract, worth more than NOK 120 Million, covers engineering and maritime technology deliveries to a RoPax ferry for Irish Continental Group (ICG). Kongsberg Maritime together with its wholly owned subsidiary Kongsberg Maritime Engineering (KME) will execute the project. KME will provide all engineering…

ICG Acquires Passenger RoRo Cruise Ferry

Irish Continental Group plc (ICG) announced that its ferry division Irish Ferries has entered into an agreement for RoRo cruise ferry Kronprins Harald from its current owners and operators , Color Line of Norway, for an investment , including modification and delivery costs. The vessel is being purchased for use on Irish Ferries route between Rosslare in Ireland and Cherbourg and Roscoff in France. With its current vessel Normandy Irish Ferries carries approximately 50,000 cars ,170,000 passengers and 2500 Freight Units on approximately 270 annual sailings on this route. The Kronprins Harald, which was built in in Finland in 1987…

Irish Ferries Orders New Ship for Dublin-Holyhead Route

Irish Continental Group plc (ICG) said it has ordered a new cruise ferry set to be the world’s largest in terms of vehicle capacity, due for delivery in 2020. The new €165.2 million ($199.4 million) cruise ferry is being built by German shipbuilder Flensburger Schiffbau-Gesselschaft & Co.KG (FSG), specifically for Irish Ferries’ Dublin - Holyhead services. It is expected to replace the schedule of the MV Ulysses, which in turn will replace the chartered-in vessel MV Epsilon. This will allow for the deployment of the W.B. Yeats (arriving mid 2018) full-time on the direct Ireland - France route alongside the MV Oscar Wilde. ICG said the new 67,300 gross ton cruise ferry will increase Irish Ferries’ freight and tourism carrying capacity on the fast-growing Dublin - Holyhead route.

German Shipbuilding: A Strong Vessel in a Heavy Sea

Launching of the W.B.Yeats at FSG. (Photo courtesy ©FSG)

While orders for new vessels have continued to decline worldwide in 2017, the situation in the German and European shipbuilding market is different, with an increase of incoming orders. As shipping experts state: “…this is not a trend but a snapshot, but it indicates a high competitiveness of the German shipbuilding industry, particularly on technologically advanced projects.”The global mood barometer of the maritime industry had reached its lowest point in 2016. From the abyss confidence and order have carefully increased…

Sheen Named ICG Managing Director

Andrew Sheen (Photo: ICG)

Andrew Sheen has been appointed by the Irish Continental Group (ICG) to the position of Managing Director of its Irish Ferries division. Sheen will assume his new role with effect from the beginning of April, reporting to ICG’s CEO, Eamonn Rothwell. Operations Director since 2012, Sheen has been involved in shipping for over 26 years, 10 of them with Irish Ferries - first as a sea-going Chief Engineer and, since 2010, in shore-based operations roles. A Chartered Engineer and Fellow of the Institute of Marine Engineers…

Maritime Reporter Magazine Cover Aug 2018 - The Shipyard Edition

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