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Construction of Two Vigo-Built Cruise Ships Suspended Due to Financial Difficulties

By ,   August 31, 2019 ,   Cruise Industry

At Hijos de J.Barreras, the yard halted the building of two Norwegian coastal cruiseferries for Havila Kystruten. The reason is, the company is facing financial problems. Both ships (Havila Polaris and Havila Pollux) are currently under construction at Barreras Shipyard in Vigo Spain. The other two units (Havila Capella and Havila Castor) were ordered at Tersan Shipyard (in Yalova, Turkey).

Construction of the Barreras-built liners (order value ~EUR 300 million) has been suspended as the Norwegian ferry company run out of funding. Its US parent company was reported in financial difficulties on and off for a number of months now.

Under construction at the same yard, the first Ritz Carlton Yacht Collection vessel (Azora) seems to have been delayed for ship's maiden voyage.

Port of Vigo (Spain)

Vigo Shipyard reported to Douglas Prothero (Ritz-Carlton's CEO and founder of Canadian Maritime Group) the breach of the shipbuilding contract, in which he had promised to deliver the vessel in November 2019, later delayed to December 5, with a building cost of EUR 240 million. The shipbuilder has been reported as demanding an additional EUR 50 million to finish the first Ritz-Carlton superyacht.