Irish Continental Group (ICG) subsidiary Irish Ferries signs Bareboat Charter agreement including a Purchase Obligation with DP World France SAS for the Spirit of Britain.
May 15 2024 - 9:59AM
UK Regulatory
Irish Continental Group (ICG) subsidiary Irish Ferries signs
Bareboat Charter agreement including a Purchase Obligation with DP
World France SAS for the Spirit of Britain.
ICG announces that its subsidiary Irish Ferries
has entered into a Bareboat Charter agreement with a purchase
obligation for the Spirit of Britain (to be renamed). The vessel is
available for immediate delivery and is expected to enter service
with Irish Ferries during June.
The Spirit of Britain will enhance our customer
offering and increase our capacity for both passenger and freight
customers on the Dover – Calais route. The Spirit was built by STX
Europe in Finland in 2010, entering service on the Dover – Calais
route in 2011 where she has remained in the service of P&O
Ferries.
The ship has been acquired for a total
consideration of €89.4 million settled through a combination of a
two-year bareboat charter set at €20,000 per day and a purchase
obligation for €74.8 million at the end of the charter.
The acquisition of the vessel will allow Irish
Ferries to move one of the three existing ships on Dover –
Calais to replace a chartered vessel currently operating on
the Rosslare – Pembroke route.
END
15 May 2024
Enquiries:
Eamonn Rothwell,
CEO Tel +353 1 607
5628
Email: info@icg.ie
David Ledwidge,
CFO
Tel +353 1 607
5628
Email: info@icg.ie
Q4 Public
Relations
Tel +353 1 475
1444
Email: press@q4pr.ie
About Irish Continental Group plc
Irish Continental Group plc is the leading
Irish-based maritime transport group. The Group’s activities
include the transport of passengers, cars and Roll on Roll off
(RoRo) freight under the Irish Ferries brand, on routes between
each of Ireland, Britain and Continental Europe. The Group also
provides Container Lift on Lift off (LoLo) freight services on
routes between Ireland and Continental Europe under the Eucon
brand. Other activities include the operation of container
terminals in the ports of Dublin and Belfast and ship chartering
activities. For the year ended 31 December 2023, ICG reported
revenue of €572.0 million and EBITDA of €132.6 million.
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