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Royal Arctic Line says goodbye to P+S Werften

Following negotiations with P+S Werften, Royal Arctic Line has decided to leave the Stralsund shipyard, getting back the USD 70.3 million that the shipping company is owed from the downpayments from an order for five newbuildings.

Photo: Royal Arctic Line

"It's a rare thing to be sad to see several million dollars go into your bank account, but that's the situation we're in right now. It's been a sad experience to witness the shipyard's deroute, but we hope things will be settled quikcly so that new ships can be ordered (contracted)," says Roayl Arctic Line CEO Jens Andersen in a statement on the company's website, following Royal Arctic Line's withdrawal from Stralsund.

Royal Arctic Line could pay high price for German shipyard collapse 

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