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Author: Subject: FINNJET's sale
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[*] posted on 28-4-2006 at 12:58


they quite surely didn't charter any other ship



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[*] posted on 28-4-2006 at 21:41


If the original route plan would stand, this would be positively brilliant. I'd so much want to see the post-refit Finnjet in Helsinki for photography and visits.



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[*] posted on 30-4-2006 at 15:42


Glada vappen to all Finnjet fans and to present and former crew of the Grand ol´ Lady.

Hopefully we´ll hear some news of her destiny in the near future.



Jani Ahvenainen,
Helsinki

Ps. Thanks Mathias for adding a few more of my photos. Ds
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[*] posted on 2-5-2006 at 02:17
Freeport?


Assuming FINNJET has to return to Freeport to drop off all the Filopinos they picked up on the way to Louisiana, maybe the ship will stay there. Freeport has a large number of slips that over the years have hosted many a ship on their last legs. The rent may be cheap when those Dollars are converted over to Euros.

KINGBOB/Orlando




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[*] posted on 3-5-2006 at 09:45


The Guardian Newspaper in England carried an article yesturday stating that Sea Containers are at an advanced stage in the sale of Silja Line.

No word on Finnjet though.




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[*] posted on 4-5-2006 at 10:19


While the finnish newspaper Kauppalehti reported yesterday that SeaCo. are very near bankrupcy. Which might affect both the sale of Silja itself as well as the ships not sold along with it, as it makes little sense for any company to pay high prices for the company or individual ships now as they could get them for much cheaper in the probable post-bankrupcy auction.

(Anyone want to start raising funds to buy Finnjet and the rights to the name Finnjet Lines? :P )




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[*] posted on 4-5-2006 at 13:10


Yes i too heard the rumour of bankruptcy (possible not the correct term for a business under UK law as only individuals can be "Bankrupt", but as a Bermuda registered company might fall under a US style insolvency proceedure).

Of course no one likely to say too much as businesses generally dont like those kind of rumours.

It is likely that the Silja vessels are owned at least in part by the banks and if they became worried about a particular company's solvency they may decide to appoint a receiver over the assets they own, ie the ships. It would then be the Receivers job to market them at the best possible price to maximise recoveries to their client, ie the bank, and any surplus to other creditors of the company.

So my point is that even in the even of Insolvency it is unlikly the ships/company would be sold cheap.

You could use the money from the sale of Illustrated Car Parks of Finland books to purchase Finnjet!




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[*] posted on 5-5-2006 at 08:58


Hey, did'nt see that coming!!!

Ilja do you fancy a job on a Superfast ship?




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[*] posted on 6-5-2006 at 02:13


From my perspective it would make no sense for VIKING LINE to purchase any part of SILJA LINE. They already operate the routes and their size is well-suited for what they're doing. It was also mentioned earlier that no government will let them have a monopoly on the routes. So who does that leave? Assuming DFDS is already bleeding and STENA doesn't want to expand, it pretty much leaves TALLINK. (Unless there is another unknown knight in shining armor waiting to sweep in!)

But how is TALLINK even doing what it is doing now? They just took on a large new ship and a large sister on the way. How in the world could they afford the assets of such a large operation such as SILJA?

A seperate unreleated question for those of you in the know: It seems that the Helsinki-Tallin route has way too many competitors operating fast and slow ships. Why is this? Are there that many passengers wishing to travel every day between these two cities? Meanwhile, service to Riga, Latvia hardly exists and seems like it would also be a popular destination.




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[*] posted on 6-5-2006 at 13:00


Helsinki-Riga service has been planned several times and even operated for a while by Silja Opera (admittedly she had no cardeck), but it wasn't apparently making enough profit. Also, the ice situation is often very bad on the bay of Riga during the winter, when the Opera was making cruises there she was forced to go to Tallinn instead on some occasions due to not being able to break though the ice.

On the Helsinki-Tallinn route, it's true that at the moment there are basically too many ships operating on the route (and both Silja and Tallink have sold off excess fast ships this year), it would seem likely that once Viking and Tallink get their newbuilds ready for this route the others will have to give up as they won't be able to compete with the new ships.

Finally, regarding Silja's buyer... Tallink have the advantage of Estonia's tax laws, which allow them not to pay taxes for any money re-invested in developing of the company. Plus they're funded by a major Estonian bank who seem to be giving them as much credit as they need. So money for them will not be a problem.

And for Viking, it's true that they could not operate Silja's ships alongside their own, but if they buy Silja and must re-sell it immidiately then they can decide themselves whgom they'll sell it to. In other words they can make certain that Silja's next owner will not be Tallink.




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[*] posted on 9-5-2006 at 13:53


Quote:
From my perspective it would make no sense for VIKING LINE to purchase any part of SILJA LINE. They already operate the routes and their size is well-suited for what they're doing.


Well, the thing is that they definately want to keep Tallink from growing all the time... If Tallink buys Silja, Viking will definately get in trouble and they are afraid they can not compete against such a huge competitor anymore. That's probably the only reason why they would be interested in buying Silja, of course from the traffic and ship point it doesn't make much sense.


Quote:
It was also mentioned earlier that no government will let them have a monopoly on the routes.
I think this is the reason why they don't want to buy Silja completely on their own but as a consortium of different finnish companies, that's at least what I heard once..

Quote:
A seperate unreleated question for those of you in the know: It seems that the Helsinki-Tallin route has way too many competitors operating fast and slow ships. Why is this? Are there that many passengers wishing to travel every day between these two cities?


The point in the Tallinn traffic used to be TaxFree and short cruises really until 2004. Nowadays Estonia is part of the EU so there is no TaxFree sale possible anymore, but still everything is much cheaper in Estonia than in Finland, I suppose that's one of the reasons for this crazy amount of ships on that route.

I have to admit I'm surprised enough about your knowledge about ferry traffic on a small european "inland water" as the Baltic Sea must seem like seen from Florida! ;)




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[*] posted on 9-5-2006 at 21:07


Quote:
Originally posted by Mathias
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It was also mentioned earlier that no government will let them have a monopoly on the routes.
I think this is the reason why they don't want to buy Silja completely on their own but as a consortium of different finnish companies, that's at least what I heard once.

It should be noted that Viking have made an offer with their own name, not as a part of a consortium




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[*] posted on 10-5-2006 at 11:19


Just read on Cruise Critic form that there is reported interest in Silja from an Australian Investment bank McQuarie, however they do not appear to be interested in Finnjet and Opera.



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[*] posted on 8-6-2006 at 15:15


Regarding Jetti's departure from Baton Rouge and the persistant rumours that sh'd be sold to Asia as a casino ship, it's probably a good sign that she's heading for Freeport as that's in the "wrong direction" for taking the ship into the Far East. (And if the sale to that area was likely, then it wouldn't make much sense to take the ship further away from that area).

Also, the departure pictures gallery is great; Jetti looks fascinatingly out of place on the Mississippi.




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[*] posted on 8-6-2006 at 18:29


Quote:
Originally posted by KINGBOBOFTHENORTH
Assuming FINNJET has to return to Freeport to drop off all the Filopinos they picked up on the way to Louisiana, maybe the ship will stay there. Freeport has a large number of slips that over the years have hosted many a ship on their last legs. The rent may be cheap when those Dollars are converted over to Euros.

KINGBOB/Orlando


I'm a bit scared by that post and Finnjet being on the way to exactly there... Sure it doesn't mean they will stay there but the fact that they didn't know what was actually to happen after Freeport makes it at least somewhat possible that the ship will be laid up there.. (What a dumb place anyway to lay up a ship!)

On the other hand lots of Seaco ships are waiting in Tilbury and the fact that the charter ends on 20th and not already now leaves room for the theory that they would return to England (which is really still one of the best solutions I guess...)

yeah, I also got one photo of Finnjet next to the M/S Mississippi Queen, a classic mississippi river cruise ship with that special "water blade" propulsion.. (don't know it's name in english)... THAT makes Finnjet look out of place really.. but the #1 of "Finnjet out of place" photos is still Finnjet in Freeport ;)
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[*] posted on 8-6-2006 at 22:17


Freeport was probably more out-of-place than the Mississippi pictures. Both had a very surreal quality to them, the vegetation and other surroundings just didn't match the ship at all.

Regarding the possible lay-up at Freeport, it isn't nescessarily any better or worse than Tilbury, if there are potential buyers all over the world (or nowhere), it doesn't really matter where she is. On the other hand if they do bring the ship to Europe than one could theorise they have better potential buyers here.




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[*] posted on 9-6-2006 at 00:02


Well I would think the tropical climate with high temperatures and high humidity pushes the ageing, rusting etc quite well compared to the comparably dry european climate...

And, last but not least, England is much easier accessible for me than Bahamas, and believe me, I would fly to England... To the Bahamas, well, it could be worth a thought to spend some holidays there and visit Finnjet this way but I guess that's too expensive really for me.. :lol: Another nice thing in England is that I could combine it with meeting England's main carpark fan Paul! ;)




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[*] posted on 9-6-2006 at 09:32


Mathias, "Paddle Wheel" or "Paddle Steamer" is the term used here, please post that photo!

When is she scheduled to arrive in Freeport?

Should we be lucky enough that Finnjet makes it to England, any of you guys are most welcom to stay at my place if you want to vist Finnjet (or some of the finest car parks in Europe).




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[*] posted on 9-6-2006 at 11:27


If she does come to England, see her might be an added incentive to come there in July/August to see John Foxx's UK tour. Although I probably won't have enough money.



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[*] posted on 9-6-2006 at 14:37


is'nt John Foxx that world renowned carpark historian???

In any event if you want to come you have the offer of free lodging.

Where in the UK is the tour?




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[*] posted on 10-6-2006 at 00:21


Yes, he's the world renowned carpark historian, graphic designer and musician. :P

Thus far they've confirmed tour dates in Liverpool, York, Sheffield, Wolverhampton, Norwitch, London, Nottingham, Leeds, Cardiff and Brighton (all in July), with promises to add more dates later. However, it seems a bit unlikely that I'll be able to afford coming to England as my gf and I are planning to go on a cruise to the Canary Islands next January, which will probably consume all the extra money we will manage to gather.




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[*] posted on 12-6-2006 at 05:24


YLE said today morning, that it's almost certain now that silja will be buyed by Tallink :| And also said that the deal would include 8 ships, which is intresting as it would mean that also Finnjet and Opera are included.

Wonder what Tallink might do with Finnjet if the deal will be done.
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[*] posted on 12-6-2006 at 08:47


Strange, different sources are reporting different things,
The Times newspaper in the UK said yesturday said the same, "deal close to completing" to Tallink for 500m euros.

Interesting that you say the deal includes 8 boats, i cant think of 8 boats?

Symphony, Serenade, Festival, Europa, Opera, Finnjet??? help.

By the way K, Cardiff is closest to me, about 70km.




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[*] posted on 12-6-2006 at 10:11


Marcel's post on the Silja forum re sale to Tallink, the article specifically states that the deal excludes Walrus, Opera and Finnjet



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[*] posted on 12-6-2006 at 13:05


Yeah, it seems that I got wrong information.
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