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Displaying items by tag: Liquidation

#TradeNews - BBC News reports that Green Marine, the high performance yacht builder in the UK responsible for entries in the Volvo Ocean Race and America’s Cup, has gone into liquidation.

Forty-six jobs have been lost with the end of trading at the boatbuilder, which moved its core business to Hythe in Hampshire from Lymington and Southampton in recent years in order to take on multiple projects.

A slowdown in large yacht orders has been blamed for the decision to enter voluntary liquidation — though a Scuttlebutt Europe reader alleges manoeuvres at the builder’s Dutch owners Vitters undermined its ability to prosper.

Green Marine build more than 180 boats since it was founded in 1982, specialising in custom racing yachts such as those competing in the Volvo Ocean Race, the Vendée Globe, and Sir Ben Ainslie’s recent America’s Cup challenge.

BBC News has more on the story HERE.

Published in Marine Trade
2nd February 2012

Fastnet Line Closes For Good

#FERRY NEWS - The Fastnet Line ferry service between Cork and Swansea is to close with the loss of 78 jobs.

As previously reported on Afloat.ie, the operator had been in examinership since last November, and a restructured business plan had been submitted with a view to resuming high-season service in April.

However, in a statement the owners of the Fastnet Line said they had been unable to raise the €1m-plus investment required and that the examinership had "failed".

All 78 jobs will be lost as the company is set to be placed in receivership or liquidation later today.

The Fastnet Line - which was worth around €30 million to Cork in tourist spending - made its maiden voyage from Swansea to Cork in 2010, and was the only direct passenger and freight link between Wales and the south coast of Ireland.

The Irish Times has more on the story HERE.

Published in Ferry

Fancy a pre-season boat bargain? It may well be on offer later this month at a 'liquidation sale of boats' due to take place in County Cork with a selection of unused and used power boats. The sale is by order of Mr. Barry Donohue, KPMG, Liquidator, HM Yachts Ltd (In Voluntary Liquidation).

The boats on offer include three unused Jeanneau motoboats inlcuding the popular Merry Fisher Legend. The vessel comes with Suzuki 50HP Four Stroke Engine and road trailer, ready for the season!

The sale will take place at 12 noon on Tuesday 29 March 2011. Viewing is from 10am - 4pm Monday 28 March 2011 or by appointment. The sale takes place at the Michael Murphy Yard, Mission Hill, Kinsale, Co. Cork. (Across from Bandon Co-Op)

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For sale: The Merry Fisher Legenda 585 Motor Boat

There are ten lots (including a van) but for the boats for sale include:

Unused Jeanneau Cap Camarat 715wa Motor Boat with a Hallmark Double Axle Trailer with Winch and Rollers, White / Blue.

Unused Jeanneau Cap Camarat 515 Style Motor Boat with a Suzuki 50HP Four Stroke Engine, Model DF50, Plus a Hallmark Single Axle Trailer with Winch and Rollers, White / Beige.

Unused Jeanneau Merry Fisher Legenda 585 Motor Boat with Enclosed Cabin with an Indspension Roller Coaster Single Axel Trailer with Winch and Rollers, White / Blue.

2006 Maxum 2400 SC3 26ft Motor Boat with 300Hp Petrol Inboard Engine with Double Axle Trailer, White / Blue.

2005 O'Sullivans Marine 710 23ft Fishing Boat with Cabin, Yanmar 27hp Diesel Inboard Engine, White / Blue, Name Mary-Linda.


For further details, please contact E-Auctions T: +353 45 883 554. More HERE.

Published in Boat Sales

Galway Port & Harbour

Galway Bay is a large bay on the west coast of Ireland, between County Galway in the province of Connacht to the north and the Burren in County Clare in the province of Munster to the south. Galway city and port is located on the northeast side of the bay. The bay is about 50 kilometres (31 miles) long and from 10 kilometres (6.2 miles) to 30 kilometres (19 miles) in breadth.

The Aran Islands are to the west across the entrance and there are numerous small islands within the bay.

Galway Port FAQs

Galway was founded in the 13th century by the de Burgo family, and became an important seaport with sailing ships bearing wine imports and exports of fish, hides and wool.

Not as old as previously thought. Galway bay was once a series of lagoons, known as Loch Lurgan, plied by people in log canoes. Ancient tree stumps exposed by storms in 2010 have been dated back about 7,500 years.

It is about 660,000 tonnes as it is a tidal port.

Capt Brian Sheridan, who succeeded his late father, Capt Frank Sheridan

The dock gates open approximately two hours before high water and close at high water subject to ship movements on each tide.

The typical ship sizes are in the region of 4,000 to 6,000 tonnes

Turbines for about 14 wind projects have been imported in recent years, but the tonnage of these cargoes is light. A European industry report calculates that each turbine generates €10 million in locally generated revenue during construction and logistics/transport.

Yes, Iceland has selected Galway as European landing location for international telecommunications cables. Farice, a company wholly owned by the Icelandic Government, currently owns and operates two submarine cables linking Iceland to Northern Europe.

It is "very much a live project", Harbourmaster Capt Sheridan says, and the Port of Galway board is "awaiting the outcome of a Bord Pleanála determination", he says.

90% of the scrap steel is exported to Spain with the balance being shipped to Portugal. Since the pandemic, scrap steel is shipped to the Liverpool where it is either transhipped to larger ships bound for China.

It might look like silage, but in fact, its bales domestic and municipal waste, exported to Denmark where the waste is incinerated, and the heat is used in district heating of homes and schools. It is called RDF or Refuse Derived Fuel and has been exported out of Galway since 2013.

The new ferry is arriving at Galway Bay onboard the cargo ship SVENJA. The vessel is currently on passage to Belem, Brazil before making her way across the Atlantic to Galway.

Two Volvo round world races have selected Galway for the prestigious yacht race route. Some 10,000 people welcomed the boats in during its first stopover in 2009, when a festival was marked by stunning weather. It was also selected for the race finish in 2012. The Volvo has changed its name and is now known as the "Ocean Race". Capt Sheridan says that once port expansion and the re-urbanisation of the docklands is complete, the port will welcome the "ocean race, Clipper race, Tall Ships race, Small Ships Regatta and maybe the America's Cup right into the city centre...".

The pandemic was the reason why Seafest did not go ahead in Cork in 2020. Galway will welcome Seafest back after it calls to Waterford and Limerick, thus having been to all the Port cities.

© Afloat 2020