Eurotunnel: MyFerryLink: the Ferries, Rodin and Berlioz Transferred to DFDS

Regulatory News:

Eurotunnel (Paris:GET):

The two ships, the Rodin and the Berlioz, were today officially handed over to the DFDS Group, in Dunkirk, under a bareboat charter agreement in accordance with the contract signed at the start of June 2015.

As a result of damage suffered by the ships whilst they were under the care of the liquidator of the SCOP SeaFrance, a period of repairs will be necessary.

With regard to any outstanding debts, the SCOP SeaFrance owes MyFerryLink €22.7 million, of which €4.8 million are penalties for late hand-over of the ships, with the remainder relating to loss of revenue and repairs to the ships. Conversely, MyFerryLink owes the SCOP SeaFrance €3.5 million for the balance of the sale of capacity, of which €600,000 have been paid under the terms of the protocol which brought an end to the conflict and enabled the return of the ships by the liquidator.

MyFerryLink would like to restate that it was obliged to abandon its maritime operations by the British competition authorities at the end of the period covered by the operating contracts with the SCOP SeaFrance, on 01 July 2015. In order to begin freight operations with the Nord Pas de Calais, MyFerryLink must first obtain the lifting of the present restrictions from the British and French competition authorities on operating in coordination with the Fixed Link.

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