What learning Law students at the beginning of the study? “The Surety of you can choke.” How very true, you must know, Switzerland is just painful: Because, again, the Federal government has to step in for a deep-sea fleet, for which they received a guarantee. The Federal Council, the Parliament, begging for a supplementary loan of 129 million Swiss francs. Two years ago, the Parliament had already spoken for nearly double the supplementary credit for the high seas fleet under Swiss flag.

the Federal government granted all guarantees for sea-going vessels, has historical reasons: After the outbreak of the Second world war came in this country to supply bottlenecks. The supply, however, ensure, the landlocked country of Switzerland on the world’s oceans ships under its own flag.

ships made problems

Long, the state government had underestimated the risk brought by the sureties for the deep sea fleet with. In the Wake of the financial crisis of 2008, the high shipping was, however, a worldwide crisis, with the well-known financial consequences for Switzerland. A fleet of the company in payment difficulties, has to step in, and Switzerland due to their guarantees immediately.

bleeding must be Switzerland this time, for joint and several guarantees for eight ships of the Freiburg-based company mass marine. Since January of 2019, the operational problems at the mass of marine-piled up ships. On several occasions they were not allowed to expire because they were insufficiently serviced. In addition, the company paid the wages repeatedly too late. These problems and resulted in increasingly negative Image for the whole fleet under Swiss flag.

300 million francs of damage

The Federal government hopes that all eight of the mass of marine ships can be sold. The sale process for the vessels is already in progress. By the middle of October, it was already two ships. According to the Plan, should be disposed of until the end of the year, at least two more ships. The goal is, the rest of the ships in the mass of marine-fleet shot as quickly as possible, to own it free and clear. The Federal Council anticipates a loss on the Sale of 100 million Swiss francs.

The Parliament had spoken in June 2017 for the SCL and SCT – shipping companies a supplementary credit in the amount of 215 million Swiss francs. At the time, it was a question of guarantees in the amount of 254 million for a total of 13 ocean-going vessels. For these guarantees, the loss is said to have located at that time at 200 million Swiss francs. Together with the new loss for the mass of marine ships, the damage from the ship guarantees add up to 300 million Swiss francs is expected.

even worse

And it could be a lot more expensive. In 2016, Switzerland still had about 47 ocean-going vessels. For this state of the Federal government at the time, with guarantees in the amount of 794 million Swiss francs just. By mid-October of this year, the Federation is one of 26 ships under the Swiss flag, which he secured with guarantees well over 500 million Swiss francs. Without the remaining mass of marine ships Switzerland has shoulders still guarantee obligations over 374 million Swiss francs for 20 ocean-going ships.

Although Switzerland is not granting new sureties for oceangoing vessels, but as soon as another operator of fishing vessels under German flag in financial difficulties, would have to open the Confederation, on the back of the wallet. (sda/pt)