FSG fighting to complete LNG-powered Honfleur
The board of creditors, self-administration and management of the financially-troubled shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) are fighting to continue the construction of the LNG-powered ferry Honfleur (newbuilding 774).
Difficult talks and negotiations are currently underway in a fight to save the German shipbuilder which filed for insolvency in April this year.
On top of the ongoing preliminary insolvency proceedings, the current order for the ship 774 has also been cancelled by Brittany Ferries, which presents a particular challenge, FSG said. Honfleur has been under construction at the yard since 2017.
However, according to today’s decision of the board of creditors, the completion of ship 774 at the Flensburg shipyard is to continue. The board of creditors has also submitted a new offer to the financier for the completion of the newbuilding 774 by the FSG.
Mayoress Simone Lange, representative of the city of Flensburg on the board of creditors, is confident about the future sustainability of the company and explains:
“We believe in the skills and capabilities of the FSG! Over the course of its almost 150-year history, the company has proven that it can build outstanding ships. The shipyard is one of the few domestic shipbuilding companies to have successfully overcome severe crises in the industry and consistently built complex, high-quality ships. We want it to continue doing so in the future, too. The prerequisites for this are certainly there if everyone pulls together now.”
This is supported by the company’s Managing Director Martin Hammer and its general representative Stefan Denkhaus: “Together with our employees, we are ready to continue to work at full speed on the construction of this new ship. Thanks to the FSG’s existing expertise, this is also something we could implement quickly.”
“The fact that the board of creditors are fighting so hard for this order proves the lasting confidence that the members of the board have in the abilities of the FSG and its workforce. The close partnership between the board of creditors, self-administration and management sends a powerful signal to SIEM, Brittany Ferries and the entire market,” Christoph Morgen, the provisional trustee appointed by the Flensburg district court, emphasises.