Fears over P&O’s Bilbao route
PORTSMOUTH 09 January – An announcement is expected next week regarding the future of P&O Ferries’ Portsmouth-Bilbao route against the background of growing fears that it might be axed. The vessel employed on the route, the Pride of Bilbao, is chartered from Irish Ferries’ parent, the Irish Continental Group, and the current charter period ends in October. Both parties are required to make clear their plans in terms of whether P&O wishes to continue the service or whether ICG is open to the ship continuing to be chartered out. There are reports that P&O is only breaking even or at best making a small profit on the route. If ICG does not want the ship back, the future could hinge on agreeing a charter rate that reflects the economic situation and the increased competition on the northern Spain-UK route from Acciona Trasmediterranea and Brittany Ferries. This will be the first ferry-related challenge for DP World, the new owner of P&O following their take over last year.
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on miércoles, enero 10, 2007 at 9:46 a. m..
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