French operator Emeraude
Jersey Ferries, which ran between St Malo and the Channel Islands, is ceasing operations. The company says it has been unable to raise sufficient finance to purchase a suitable ferry for the next summer season and has been unable to find a suitable vessel on the charter market.
Without a ship, the company cannot provide services for the forthcoming season and has therefore decided to close its operations.
Emeraude's 50 employees in St Malo will be made redundant. Emeraude has suffered the loss of several million euros over the past six months after
the sale of its last vessel, Solidor 5.
The virtually-bankrupt company was taken over late in 2003 by Le Havre-based Sogestran group, but the move failed to produce the expected results. St Malo's shipping community has described the collapse as "very sad"; Emeraude was set up there in 1902 under the name Bateaux de la Côte d'Emeraude'.