FERRY SHIPPING

By | 2020 Newsletter week 49 | No Comments

The Return of RoRo Shipbuilding in Flensburg

Flensburger Schiffbaugesellschaft (FSG) has received its first order since the restart under the direction of Tennor Holding.

IVP Ship Invest – a company of Tennor founder Lars Windhorst – is ordering a 32,770 GT, 210m long RoRo (option for a second ship) with a 4000+ lane metre capacity.

The double order is worth €140m and the first ship is planned for an April 2022 delivery.

Flensburg Shipyard FSG Sells Semi-Finished Hull 774

By | 2020 Newsletter week 41 | No Comments

Flensburg Shipyard FSG Sells Semi-Finished Hull 774

It has been confirmed that ship owner and former shipyard owner Christian Siem has given money to acquire the unfinished ferry under construction for Brittany Ferries (and rejected).

What the Norwegian entrepreneur intends to do with the ferry and how much he has paid is unclear, however. The only thing that is certain is that it will not be completed in Flensburg.

The FSG Flensburg Shipyard is Reborn

By | 2020 Newsletter week 36 | No Comments

The execution of the purchase agreement has taken place as scheduled: several companies belonging to Tennor Holding have taken over 350 employees of the Flensburger Schiffbau-Gesellschaft (FSG) as well as the assets of the shipyard within the scope of a transferable restructuring as of 1 September, 2020.

In order to continue the restructuring process started in the insolvency proceedings, the new managing directors Stefan Kindler and Tarek Malak, who were seconded by Tennor Holding, will further build up the organization.

By the winter of 2020, the management of the Flensburger Schiffbau-Gesellschaft will be placed in the hands of a management team with years of experience. The talks are already well advanced. Their task will be to give the FSG a strategic orientation and to win further shipbuilding contracts in order to fill the shipyard on the Flensburg Fjord with civil and military newbuildings

Flensburger Schiffbau-Gesellschaft (FSG): Transfer Company and HONFLEUR Sold

By | 2020 Newsletter week 31 | No Comments

Insolvent FSG will move the majority of its 700-people staff to a new ‘transfer’ company.

Currently the yard has no orders and no buyers.

Former owner SIEM has acquired the (unfinished) ferry that was under construction for Brittany Ferries (HONFLEUR), but which was cancelled recently. If and when the ship will be finished is so far unclear.

Investor Lars Windhorst has also announced the possible order for two ro-ro ships.

Flensburger Shipyard FSG Filed for Bankruptcy to Save the Company

By | 2020 Newsletter week 18 | No Comments

On Friday 24 April 2020, FSG went into self-administration.

German insolvency law offers companies the option of restructuring in insolvency procedures under their own management. This is so-called self-administration.

Owner Lars Windhorst said the yard would continue to build ships. Together with management and employees, he sees a future for the company. Now a sustainable concept has to be found.

A new managing director has been appointed. It is Martin Hammer (LinkedIn), who is expected to come up with a plan in four to six weeks. He think work can restart in early summer.

The problem seems to be the reluctance of the State Schleswig-Holstein to support the yard with guarantees. “Taxpayers’ money should not be risked for a company that is in trouble,” said Minister of Economics Bernd Buchholz. “First the yard needs to get out of the insolvency, then we can talk.”

Mr Windhorst told the German press that “investing money in a contract where you know you will lose money is not a responsible thing to do as an entrepreneur.” He added that a ship can only be built, “if we can assume that no money will be lost here.” He did not mention which ferry he was talking about. (Brittany Ferries? Irish Ferries?)

The contract for two ferries for Spirit of Tasmania have been cancelled earlier.

From what Ferry Shipping News understands, it seems the yard is negotiating an order for 4 roro ships from previous owner SIEM.

FERRY SHIPPING

By | 2019 Newsletter week 18 | No Comments

All Hands On Deck For HONFLEUR

As part of the process to reorganise the Flensburg-based shipyard, FSG has been in negotiations with customers and suppliers since the beginning of the year. Several measures have been implemented in order to successfully achieve this target.

The ro-pax ferry for Brittany Ferries is in the process of intensive outfitting. For optimal progress of this vessel –HONFLEUR–, it was necessary to postpone the start of the production of newbuilding no. 781, the eighth ro-ro vessel for Siem.

This has led to a partial and temporary underemployment in one part of the production. For this reason, the Company’s management and Works Council have agreed to apply to the Labour Employment Agency for short-time work in this area.

The application has already been submitted. The effects on the affected area are being kept to a minimum. The majority of the affected employees will be able to bridge this period either by reducing overtime hours previously worked or will be temporarily employed in other areas of production.

More ro-ro ships to be built in Flensburg

By | 2017 Newsletter week 49 | No Comments

Although Flensburger Schiffbau-Gesellschaft (FSG) did not send an official press release yet, we read in the local media that the yard has secured an order for an extra two ro-ro ships.
The ships are the 5th and 6th unit of 4K lane meter ships to be ordered by FSG’s parent company Siem Group, with the intention to put them on the charter market.
The regional State of Schleswig-Holstein is still involved in the shipbuilding with bank guarantees, after the yard went into a difficult period.
With the orders of Irish Ferries (1 ro-pax), Brittany Ferries (1 ro-pax) and Siem (six ro-ro ships, 2 for DFDS, 2 for EKOL and 2 unknown) the yard can continue to build upon its reputation of ferry and ro-ro specialist.