DFDS has boosted its full-year profit forecast after securing an insurance payout for a ro-pax vessel that was destroyed by a fire in early October.
The Danish ferry operator says its insurers have declared the 494-lane-metre Lisco Gloria (built 2002) a “constructive total loss” after completing an extensive investigation into the incident that occurred on 9 October as the ship sailed from Kiel to Klaipeda.
In a statement, the company wrote: “DFDS will receive total compensation of DKK 525m [$94.2m], of which DKK 420m will be compensation for the ship's insured market value.
“The remaining compensation of DKK 105m relates to a hull interest triggered by declaration of total loss. The purpose of this is to safeguard against losses due to related costs such as operating losses, the accelerated deployment of a new ship and more.”
DFDS says the compensation will result in a gain of DKK 260m and the write-down of DKK 180m.
As a result, the company has hiked its 2010 pre-tax profit forecast by DKK 80m to DKK 515m.
DFDS, which controls a fleet of approximately 40 ro-ros, ro-paxes and ferries in addition to containerships and tour boats, says its full-year results will be announced on 17 March.
In the meantime, the company says it will be looking for a “permanent solution” for a ship to replace the Lisco Gloria, which is currently laid up at the Fayard yard in Odense, Denmark, according to a spokesman.
As TradeWinds has reported, the The Szczecin-built Lisco Gloria is classed by ABS and has cover with the West of England P&I Club.
By Aaron Kelley in Stamford
Published: 18:07 GMT, 03 Jan 11 | updated: 20:07 GMT, 03 Jan 11
http://www.tradewinds.no/casualties/573115/dfds-wins-lisco-gloria-payday
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Nearly 300 passengers were rescued when the blaze erupted in the Baltic.
