Beleaguered German shipbuilder Flensburger Schiffbau-Gesellschaft (FSG) has seen the last ship contract in its orderbook cancelled.
The restructuring yard said on Thursday that French owner Brittany Ferries has torn up the deal for the 42,400-gt LNG-fuelled ropax Honfleur, hull 774, which had been due for delivery this month.
The $223m ship is now owned by FSG and the company said it is in talks with "various parties" about completing the ferry, as well as its financing.
The newbuilding was ordered in 2017 and originally scheduled to enter service last summer.
Stefan Denkhaus, general representative of FSG, said: "We cannot understand the customer’s decision, and the termination came as a surprise. The customer, by their own admission, is dependent on the ship.”
He added that the vessel will not be ready for another 11 or 12 months, however.
FSG managing director Martin Hammer added: "The entire management team of FSG assumes that the 774 can only be completed at the Flensburg site. The risks of completing the 774 at another yard are, in my view, incalculable."
Talks continue over sale of business
FSG announced last week that is in talks over a sale of the business with German shipbuilder Pella Sietas, owned by Russia's Pella Shipyard.
FSG provisional trustee Christoph Morgen said: "Irrespective of this customer decision, the sales negotiations between FSG and the Hamburg-based shipyard Pella Sietas are continuing.
"We are confident that a strategic future concept for the FSG will be jointly developed."
Also last week, Irish Continental Group (ICG) cancelled another ropax on order at the yard.
The 67,300-gt ferry had been due in September.
ICG blamed the decision on the yard filing for self-administration at the Flensburg District Court in April.
FSG has been placed in debtor-in-possession management under the oversight of an insolvency monitor.
ICG went to court this year to fight a passenger compensation order in Ireland arising from a delayed vessel delivery. It had to cancel sailings last year because the 51,400-gt WB Yeats (built 2018) was late from FSG.
In February, Australia's TT-Line, the Tasmanian state-owned ferry operator, cancelled a deal for two 48,000-gt ropaxes at FSG, switching it to Rauma Marine Constructions in Finland.
The company said the move was made because of FSG's delays in the building of other ships and uncertainty over its finances.
