TT-Line Company has withdrawn from the Memorandum of Understanding with Rauma Marine Constructions

21.7.2020 Media releases

Due to the economical uncertainty caused by the Coronavirus pandemic the Australian TT-Line Company Pty. Ltd has withdrawn from the Memorandum of Understanding with Rauma Marine Constructions Oy (RMC). The memorandum concerning the project was signed in February this year.

TT-Line Company withdrew from the project according to the decision made by the Tasmanian Shareholding Ministers. Production of the new fast ro-pax ferries was scheduled to commence in Rauma at the beginning of 2021.

– Regretfully TT-Line Company has informed us, that they have decided to withdraw from the MOU and postpone signing any Shipbuilding Contracts with reference to the present economic outlook due to the COVID19 pandemic. The situation is naturally unfortunate for RMC, but we are pleased to say that the withdrawal does not cause any immediate re-structuring at RMC, says Jyrki Heinimaa, CEO, RMC.

– We are always ready to continue the negotiations with TT-Line Company when the shipbuilding project is topical again, Heinimaa continues.

– It has been a pleasure to work with RMC and it is unfortunate that in the current economic climate we have to step away from what we believe would have been a fruitful three years’ partnership, says Bernard Dwyer, Chief Executive Officer, TT-Line Company.

RMC is currently building the Aurora Botnia car and passenger ferry for Wasaline, a vessel which will operate between Vaasa, Finland and Umeå, Sweden. In addition, production of the shuttle ferry MyStar for Tallink Grupp, Estonia, started at the Rauma shipyard in April. Furthermore, last autumn, RMC signed a Contract with the Finnish Navy regarding the construction of four multi-role corvettes.

– The execution of the projects under construction and the planning of the four multi-role corvettes will continue at Rauma shipyard as planned. RMC will also focus on new and alternative prospects with attractive delivery slots, Heinimaa continues.