Nordea: Worst possible outcome of Channel case for DFDS

The British Competition Appeal Tribunal's decision to remit the case concerning the right to operate on the English Channel marks a loss for DFDS, and was perhaps the worst possible outcome for the carrier, says Nordea.

DFDS' shares decreased significantly on Wednesday when the British Competition Appeal Tribunal decided to remit the verdict stating that My Ferry Link - owned by Eurotunnel - had to withdraw from operating on the English Channel, sending the case back to the British Competition Commission for a second review. The decision represents the worst possible outcome for DFDS, says Nordea, though the bank still sees an attractive long-term potential in the shipping company' share. 

The Appeal Tribunal found that there were doubts about whether it was actually within the Competition Commission's jurisdiction to handle the case, and thus the entire case has been sent back to square one. DFDS is losing large sums of money sailing on the Channel due to massive overcapacity.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Daewoo Shipbuilding makes deal with conglomerate on conditional sale

Shipbuilding group DSME has signed a memorandum of understanding with conglomerate Hanwha Group about a sale of Korea Development Bank’s 50-percent equity position, according to a news agency. The state-owned bank has previously stated that the yard ought to be sold quickly. Updated.

Further reading

Related articles

Latest news

See all jobs