# MyFerrylink - appeal fails, future in doubt



## bognormike (May 10, 2005)

http://www.bbc.co.uk/news/uk-england-kent-30745328

some background here

and Eurotunnel seem to have conceded defeat, and are looking for a buyer, independent of subsidy from the tunnel operator.

not sure where it leaves things in the short term?


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## GEMMY (Jun 19, 2006)

I thought there was a clause in the initial purchase that forbade the sale of the ferries for ?? years.

tony


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## bognormike (May 10, 2005)

yes, I saw that quoted, perhaps 5 years? But this would seem to negate it, because it's a legal consideration, not a commercial one.


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## cabby (May 14, 2005)

I would offer them a £5 for the business, then tell them to run it for me under a different name.

cabby


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## bognormike (May 10, 2005)

A bit more info in this article from Ferry News

http://www.ferrynews.co.uk/news/groupe-eurotunnel-put-myferrylink-sale#sthash.Erw4vUzg.dpbs

DFDS would appear to be first in line to buy the operation, but Stena could jump in?

If I was looking for a crossing this year over the water rather than under it :roll: , I don't think I would gamble on Myferrylink.....

And it may be a good time to book up a tunnel multi-trip deal, as the prices are still as in December 2013.


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## GEMMY (Jun 19, 2006)

" And it may be a good time to book up a tunnel multi-trip deal, as the prices are still as in December 2013. "

---------------------------------------------------------------------------------------------------------------------------------------

I would, if I could use Tesco vouchers  

tony


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## nicholsong (May 26, 2009)

bognormike said:


> http://www.bbc.co.uk/news/uk-england-kent-30745328
> 
> some background here
> 
> ...


Mike

Thanks. Going back throuh your links I get to one that does ot work.

I cannot remember the date by which they were ordered to stop operating, but even that may have been extended due to the appeal process. Do you know the date they must stop if they do not find a buyer? I wonder if they will try to sell as a going-concern or just sell the ferries?

Geoff


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## dalspa (Jul 1, 2008)

Shame, but not surprised. We have been using their carnet tickets, as we did with Seafrance previously. Liked the price, service and flexibility. Bought six tickets (3 return trips) last year and took a gamble that we may have had a couple left at the time that they may have had to close, but all used up. With this ruling at such an early time in the year, then it looks as if we won't have that option. When SF went to the wall we still had two tickets to use up, but no problem in getting a refund! I seem to remember that the first time we bought SF carnet tickets it was £195 for 3 return trips  

DavidL


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## bognormike (May 10, 2005)

nicholsong said:


> bognormike said:
> 
> 
> > http://www.bbc.co.uk/news/uk-england-kent-30745328
> ...


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not sure if the 6 months starts again from now, or from the original? ( but as that was more than 6 months ago, unlikely!)


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## emjaiuk (Jun 3, 2005)

Watch this space!

AFAIK Eurotunnel were lent on to invest in ferries in order to preserve the majority of the Sea France jobs, there being no way at the time that the French Goverment could give any direct aid to SNCF. However, if the sale of My Ferry as a going concern is permitted, there are other French companies with links to their goverment, currently socialist, that may decide to get involved in Dover Calais. 
Can anyone really see the French letting a UK goverment department tell them what to do?

Malcolm


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## nicholsong (May 26, 2009)

Reading the business press this morning it does appear that the company is profitable and that they hit their traffic forecasts for Nov/Dec, so there a probability that a buyer can be found.

I presume the competition authorities would not look kindly on it being P&O or DFDS.

If a buyer could see that it can be profitable at current fare prices maybe there is a chance that they could be kept at that level. If the competion is losing money, as they say. they will have to adapt. That is what competition is for.

Geoff


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## GEMMY (Jun 19, 2006)

If a 'new' buyer is found, are they to take on the existing workers :? and if so, trouble ahead for themselves and P&O and DFDS who are only hanging on with their fingertips with uneconomic prices.

Interesting times ahead, have to get my chunnel bookings done before even more increases

tony


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## Carl_n_Flo (May 10, 2005)

Take Eurotunnel's statement of profitability with a HUGE pinch of salt.

The ferries are leased to the SCOP at well below market rates and the traffic on board - especially commercial - is sent there by Eurotunnel.

The current rates on the Channel are unsustainable and HAVE to rise otherwise not only DFDS but P&O will suffer terminally (they are already struggling because of ship costs recently). On a multi-million paound turnover you are lucky to see a couple of million in profit in the current ferry industry - so where will the investment in new ships come from....and they ARE needed.

Sources have said that it WILL be a French company that buys MFL, but dont expect it to be maritime related.


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## Carl_n_Flo (May 10, 2005)

Article in the Nord Littoral last Sunday - not available via their online unfortunately - had Eurotunnel CEO Jaques Gounon saying that he he didnt see a potential buyer for MFL on the horizon and that they will shut the service down by the end of June.

MFL themselves, to enquiries from potential travellers, have been saying that should they close then pre-booked monies will either be refunded or the customer transferred to another operator (Eurotunnel?). One operator even volunteered the statement that 'we are a part of Eurotunnel after all....... :roll: 

Not trying to set the feline among the feathered friends here.....just reporting what I had read.


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## GEMMY (Jun 19, 2006)

How are they allowed 6 months to close after losing and 18 months after the initial lose 8O 

tony


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## bognormike (May 10, 2005)

Carl_n_Flo said:


> Article in the Nord Littoral last Sunday - not available via their online unfortunately - had Eurotunnel CEO Jaques Gounon saying that he he didnt see a potential buyer for MFL on the horizon and that they will shut the service down by the end of June.
> 
> MFL themselves, to enquiries from potential travellers, have been saying that should they close then pre-booked monies will either be refunded or the customer transferred to another operator (Eurotunnel?). One operator even volunteered the statement that 'we are a part of Eurotunnel after all....... :roll:
> 
> Not trying to set the feline among the feathered friends here.....just reporting what I had read.


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basically they are putting their hands up & saying, "ok, it was nice try, but we've been found out, and haven't a leg to stand on"

:roll:


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## emjaiuk (Jun 3, 2005)

And so it goes on! They are French you know 

http://www.bbc.co.uk/news/uk-england-kent-31315273

Malcolm


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## GEMMY (Jun 19, 2006)

They lost the best of three, now they want the best of five :roll:


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## Carl_n_Flo (May 10, 2005)

But now they dont have the backing of Eurotunnel in this action (well, not above the table anyway).

Eurotunnel own the ships. The SCOP just lease them and crew them. The SCOP dont even have any control over the bookings etc. - that is all done by Eurotunnel. So, in theory, Eurotunnel can just pull the plug at any time.


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## nicholsong (May 26, 2009)

Carl_n_Flo said:


> But now they dont have the backing of Eurotunnel in this action (well, not above the table anyway).
> 
> Eurotunnel own the ships. The SCOP just lease them and crew them. The SCOP dont even have any control over the bookings etc. - that is all done by Eurotunnel. So, in theory, Eurotunnel can just pull the plug at any time.


Carl

So who gets the profit, after deduction for the lease of the ships, staff costs and paying for the booking service costs?

Geoff


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## bognormike (May 10, 2005)

profit? what profit?


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## Carl_n_Flo (May 10, 2005)

Eurotunnel.


All or any of the MFL profit is shown in the Eurotunnel accounts.

MFL is a subsidiary of Eurotunnel. The SCOP just provide the crew.

The 'leasing' of the ships to the SCOP is a 'paper' exercise in accountancy.

Which is why Eurotunnel are looking for a buyer for MFL.....SCOP or no SCOP.


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## Carl_n_Flo (May 10, 2005)

Extract from Eurotunnel half-yearly report in June 2014:

SUMMARY
The Group's consolidated revenues for the first half of 2014 amounted to €559 million, an increase of €40 million or +8% compared to the first half of 2013. Operating costs of €343 million increased by €28 million compared to the first half of 2013 of which €18 million arose from the activities of Europorte and MyFerryLink and €10 million from those of the Fixed Link (including €4 million relating to an insurance indemnity received in 2013). EBITDA improved by €12 million to €216 million, and at €132 million the operating profit improved by €11 million. Net financial costs decreased by €6 million.

*For the first half of 2014, the Group recorded a net loss of €11 million (including a loss of €14 million for the MyFerryLink segment) after an income tax charge of €2 million.*

It is no wonder then that Eurotunnel want shot of MFL if it dragged their losses to 11 million!!!

You can read the report here:

http://www.eurotunnelgroup.com/uplo...ort/140722Half-Year-Financial-Report-2014.pdf


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## GEMMY (Jun 19, 2006)

To sell the boats (if legally allowed) would not be a problem, but future owners would certainly want the militant union seamen :wink: 

tony


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## emjaiuk (Jun 3, 2005)

And so it goes on! They are French you know 

http://www.bbc.co.uk/news/uk-england-kent-31315273

Malcolm


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## Stanner (Aug 17, 2006)

emjaiuk said:


> And so it goes on! They are French you know
> 
> http://www.bbc.co.uk/news/uk-england-kent-31315273
> 
> Malcolm


I thought you posted that 6 hours ago................ :?


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## emjaiuk (Jun 3, 2005)

Stanner said:


> emjaiuk said:
> 
> 
> > And so it goes on! They are French you know
> ...


I did, I didn't make the second post :?

I was tucked up in bed at 01:08, very strange,

Malcolm


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## Carl_n_Flo (May 10, 2005)

Nord Littoral (local French rag) reports that the 'judgement' will be announced on *MAY 15TH *- MFL crews appear not happy about this. Local politicians fear that this hints at an unfavouorable decision for My Ferry Link.


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## greygit (Apr 15, 2007)

GEMMY said:


> To sell the boats (if legally allowed) would not be a problem, but future owners would certainly want the militant union seamen :wink:
> 
> tony


 Oh goodness yes, we can't have workers standing up for good work conditions and pay can we? :wink2:


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## GEMMY (Jun 19, 2006)

greygit said:


> Oh goodness yes, we can't have workers standing up for good work conditions and pay can we? :wink2:


 Certainly not when their shift ends that they 'nick' anything not bolted down :grin2:

tony


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## greygit (Apr 15, 2007)

GEMMY said:


> Certainly not when their shift ends that they 'nick' anything not bolted down :grin2:
> 
> tony


That's not an over-generalization by a rabid right winner is it? :wink2:


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## GEMMY (Jun 19, 2006)

greygit said:


> That's not an over-generalization by a rabid right winner is it? :wink2:


You must have been at Maplins when the previous company explained their reason for stopping the route, they blamed tight margins, union activity, and huge stock losses (****, booze, and food) meant it was a no no

you don't have to be rabid to understand :wink2:

tony >


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## greygit (Apr 15, 2007)

GEMMY said:


> You must have been at Maplins when the previous company explained their reason for stopping the route, they blamed tight margins, union activity, and huge stock losses (****, booze, and food) meant it was a no no
> 
> you don't have to be rabid to understand :wink2:
> 
> tony >


No just be very rightwing and blame everthing on the working class, as usual. :wink2:


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## Carl_n_Flo (May 10, 2005)

*Update 09.04.15*

La Voix du Nord just reported that an extraordinary session of the SCOP's supervisory board has been scheduled for this afternoon. Its sole point of order: dismissal of the SCOP's board of directors, i.e. Messrs. Giguet and Doutrebente. This isn't the first attempt by the Union leaders to get rid of them.

The consequences would be serious and presumably immediate. Eurotunnel had already announced earlier that a dismissal of Giguet would lead to the instant termination of the contract between Eurotunnel and the SCOP.

Stay tuned...

P.S.: the meeting will take place on Monday morning.

*P.P.S - The two directors are counter-attacking and are now planning to place the company under the protection of the court in Boulogne where a hearing has been scheduled for tomorrow morning.*

This has the potential to get very messy very quickly. I wouldnt be surprised to see Eurotunnel send THEIR ships to lay up at a port outside of France to avoid having them used as blockade ships and the resultant negative publicity.


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