Dublin-based Irish Continental Group (ICG) has sold the 1987-built cruise ferry ‘Oscar Wilde’ on a bareboat hire purchase agreement to Mediterranean Shipping Company (MSC).
The total gross consideration is €28.9 mill, payable in instalments over six years, up to 2025.
The 31,914 gt ropax is expected to be delivered to MSC this month.
The proceeds less the net book value of the Oscar Wilde (€7.7 mill) and related disposal costs will result in a profit on disposal which will be reported as part of the 2019 financial results of ICG, the group said.
The 1,458-pax vessel was acquired by ICG in 2007 and operated by its subsidiary Irish Ferries on the Ireland/France route.
However, ICG has had to close one route from Rosslare to France, in conjunction with the late delivery of the ’WB Yeats’ and the Irish National Transport Authority’s (NTA) decision related to her voyage cancellations.