“ shipping industry insider added that it was “incomprehensible that neither the Baltic Exchange, nor one of the big six shipbroking companies in the London were approached to advise on such an operation.”

True. The article has other gems.

theisleofthanetnews.com/2018/12/31/sea…
“Seaborne Freight said directors and shareholders have been working over the last two years on a business plan to reintroduce the Ramsgate to Ostend ferry service from early 2019.”

Interesting. 2 years
Dec 2016.
What had they been told by whom at that stage?
Before A50 notice
3/

A spokesman said: “During the development phase and pending the finalisation of robust funding arrangements, the business has been financed by the shareholders.”

We can read the accounts too. We can do due diligence.
4/.

Meanwhile the Gov says it can cancel the contract in March

Terms?
Because the company cannot deliver?

(How is ‘non delivery’ v “partial delivery” measured and consequences for the latter?)

What if Gov non delivery (eg dredging or port fasciitis is the issue?
5/. Do the contract T&Cs enable the Fov to cancel without payment if we cancel or defer A50?

If so, is there any cost to that?

What do the supposed mortgage providers and equity providers have to say about that?

This is due diligence.
6/
It might seem boring but it is what keeps out private & public finances safe.

It strikes me this Government is taking gambles with our taxpayer money we would not, or at least should not, contemplate gambling with our own.

Because we have more important things to do with it.
“There has not been a cross-Channel operation at Ramsgate since the collapse of TransEuropa in 2013 which left Thanet council owed an unpaid debt of £3.4 million accrued by the ferry firm in port fees.”

How much of this TDC hutzpah is to conceal previous (& soon repeated) errors
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