DFDS cancels newbuilding contracts

P+S Werften (Stralsund) loses contracts for the construction of two freight ships with DFDS
 
Last week, DFDS has cancelled the contracts with the German shipyard P+S Werften GmbH, Stralsund, concerning the construction of two freight ships (ro-ro) ordered in November 2010.
 
The contracts are cancelled on account of the shipyard’s breach of several terms of the contracts, they announce. Thereby, DFDS‘ investment commitment for the newbuildings of around DKK 1.0 billion ceases. The payments that have been made to the shipyard are covered by a bank guarantee.
 
The consequences of the cancellation of the contracts for DFDS‘ future tonnage requirements cannot at this stage be determined with a reasonable level of certainty. Likewise, the amount of any one-off costs that may result from the cancellation cannot yet be determined. The newbuildings were included in DFDS‘ expectation for investments for 2012 with an amount of DKK 450 million.
 
DFDS is northern Europe’s largest integrated shipping and logistics company. DFDS Seaways operates a network of 25 routes with 55 freight and passenger  ships, while DFDS Logistics provides freight solutions in Europe with trailers, containers, and rail. DFDS has 5,000 employees in 20 countries, and revenue is about DKK 12 billion in 2011. The Company was founded in 1866, is headquartered in Copenhagen, and is listed on NASDAQ OMX Copenhagen.

Quelle: LogEastics

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