Volkswerft resumes work on DFDS newbuilds

The yard, now called the Stralsunder Schiffbaugesellschaft, has been up and running again since Monday after a new deal was struck with Danish shipowner DFDS to complete two ro-ro ferries cancelled last September. The deal still apparently remains subject to unspecified approval but receivers believe that will be granted. In the meantime about 300 people have resumed work on the ships and a total of about 500 are now active at the yard.

The 195m long DFDS newbuildings will each boast 3,000 lane metres and carry up to 185 trucks as well as 342 TEU of containers. The first goes to the fitting-out quay in three months for completion in August and it is planned to hand over the second ship by spring 2014.

Many hope that with production now underway again, a new investor will have been found by then. Lending weight to that is news that the two largely completed ro-pax ferries Berlin and Copenhagen, ordered by Denmark’s Scandlines and cancelled after insolvency because they are 200 tons over contracted weight, are attracting a lot of serious interest from potential buyers. Reports quoted yard officials saying 15 unidentified parties were interested in the newbuilds.

Even with work now resumed at Volkswerft, creditors can expect little back. Reports said despite full order books publicised prior to insolvency the yard has been in the red since 2009. A reported 2,300 creditors have claimed €988 million back but receivers said only about €700 million were justified, €200 million of it financing from the state and the banks, and that of that only a small quota will be available.

The future of Peene Werft, the smaller of the two P&S yards, is meanwhile now much more secure following its sale to the Lürssen Group in December. The switch takes place on 1 May and until then Peene is also in production. The last two of four 52m patrol boats for the Swedish Coast Guard are for delivery in February and March/April. The yard also remains busy in repair and naval overhaul.