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FERRY PORT GALLERY

FERRY, ROPAX AND RORO GALLERY

Hurtigruten Sold to Investors

By | 2024 Newsletter week 48 | No Comments

Hurtigruten has been acquired by a consortium of existing investors and has received approximately EUR 110m in new, long-term funding. The new setup provides a solid base for the future growth and continued development of Hurtigruten as Norway’s leading coastal cruise line.

  • The closing of this transaction will mark the completion of the process to separate Hurtigruten from HX (Hurtigruten Expeditions).
  • The transaction will significantly reduce outstanding debt of the Company and its parent group by over EUR 1bn, resulting in remaining debt of approximately EUR 400m, and extending the maturities to at least 2030.
  • Hurtigruten will continue as a standalone company, headquartered in Oslo.
  • Hurtigruten will own and operate its 10 ships under the Norwegian flag.

Source: Hurtigruten on MyNewsDesk

Photo: Agurtxane Concellon

Irish Continental Group Reports a Robust Financial Performance

By | 2024 Newsletter week 48 | No Comments

Irish Continental Group reports a robust performance in its Ferries Division, reflecting strong growth in passenger and freight volumes.

  • Key Highlights (Year to 23 November 2024):
  • Passenger Cars: 657,000 carried (+11.0% vs 2023)
  • RoRo Freight: 702,800 units (+7.8% vs 2023)
  • Revenue for the Ferries Division to 31 October 2024 was €375.8 million, a 6.5% increase compared to €352.9 million in the same period in 2023. This growth was supported by strong performance across Irish Ferries’ routes connecting Ireland, Britain, and Continental Europe.

Revenue figures include surcharges tied to fuel price changes and emission allowances under the EU Emission Trading System (ETS).

The acquisition of the OSCAR WILDE under a lease purchase arrangement (with P&O Ferries) contributed to higher net debt on an IFRS basis (from €143.7m to €189.4 million).

Overall Group Performance:

Group revenue for the period to 31 October 2024 reached €521.0 million (+6.0% vs 2023).

Summary of Gotlandsbolaget Quarterly Report (January–September 2024)

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Financial Performance (July–September 2024)

  • Revenue: 1,002.7 MSEK (up from 968.5 MSEK in 2023).
  • Adjusted operating profit: 318.2 MSEK (up from 277.6 MSEK in 2023).
  • Net profit after tax: 230.4 MSEK (down from 247.2 MSEK in 2023).
  • Earnings per share: 92.2 SEK (98.9 SEK in 2023).

Financial Performance (January–September 2024)

  • Revenue: 1,991.7 MSEK (up from 1,895.5 MSEK in 2023).
  • Adjusted operating profit: 278.8 MSEK (up from 222.9 MSEK in 2023).
  • Net profit after tax: 322.7 MSEK (down from 503.1 MSEK in 2023).
  • Cash flow from operations: 617.1 MSEK (up from 483.0 MSEK in 2023).

Key Events (Q3 2024)

  • Successful summer season for Birka Gotland, with nearly 38,000 passengers during 27 calls to Gotland.
  • Preparations completed for the acquisition of the Oslo-Fredrikshavn-Copenhagen route, officially taken over on 31 October 2024.
  • Announcement of funding for hydrogen supply system research at Uppsala University Campus Gotland.

Key Events Post-Q3 2024

  • Acquisition of Crown Seaways (1994) and Pearl Seaways (1989) from DFDS, with plans for extensive onboard investments.
  • Swedish government confirmed inclusion of Gotland ferry traffic in the FuelEU Maritime requirements, encouraging emissions reduction.

Strategic Focus

  • Expansion in Nordic passenger shipping, including the Oslo-Fredrikshavn-Copenhagen line.
  • Development of next-generation eco-friendly vessels, including the Horizon series and hydrogen-powered Horizon X catamaran.
  • Commitment to climate-neutral Gotland ferry traffic by 2045, contingent on improved infrastructure for fossil-free fuels.

Challenges and Initiatives

  • Decrease in passenger numbers (-1.5%) and vehicle volumes (-2.2%) in Q3 2024.
  • Efforts to advocate for the inclusion of Gotland traffic in Swedish tonnage tax reforms to ensure competitiveness.

Financial Stability

  • Equity attributable to shareholders: 5,502.1 MSEK.
  • Solid liquidity with cash and short-term investments totaling 4,337.8 MSEK.
  • Reduced investments compared to the previous year, primarily focused on ship renovations and property upgrades.

For further details, refer to the full report on Gotlandsbolaget’s website.

Who Will Operate the Tarifa-Tangier Ville Route?

By | 2024 Newsletter week 48 | No Comments

Last week the Tarifa-Tangier Ville route contract became the story of the week.

Port Authority of the Bay of Algeciras (APBA) must decide which ferry operator will get the contract to use Berth 3 in the Port of Tarifa.

Several operators are tendering: Baleària, FRS Iberia Maroc/DFDS and a new partnership between MSC and IMG.

Timeline:

November 18 Baleària Press Release:

Baleària wins the contract for the Tarifa-Tangier Ville route”

  • Baleària proclaims itself as the winner of the contract.
  • Investment EUR 135 million: construction of two zero-emission electric fast ferries + the electrification of the two ports + battery recharging system.
  • Ship builder: Astilleros Armon, Gijón.
  • Press release ends with “pending official confirmation, we can conclude that Baleària has been the clear winner of the tender.” Pending means: not confirmed yet.

 

November 18 FRS Iberia Maroc/DFDS Press Release:

“FRS Iberia Maroc / DFDS Expresses Concern Over the Tender Process for Berth 3 at the Port of Tarifa”

  • “Offer of Baleària is reckless and based on unrealistic projections and fictitious minimum traffic levels that evidently cannot be achieved.”
  • FRS Iberia Maroc/DFDS urge the port authority to:
  1. Review the technical score assigned to proposals based on unfeasible projects or without sufficient technical support, especially those projects that have not been explicitly approved by the competent authorities in Morocco. (electrification)
  2. Ensure that the allocation is made in accordance with the requirements of the specifications, evaluating only offers that are technically and operationally viable.
  3. Guarantee that the process is transparent, impartial, and adjusted to the standards of integrity required by European and national regulations.

 

November 25 IMG+MSC Press Release:

IMG Insotel Marine Group and MSC Mediterranean Shipping Company seal an alliance for the ferry market in Spain”

  • Insotel Marine Group (IMG), which includes ferry operators Trasmapi, Formentera Lines, Formentera Cargo, and Menorca Lines, has entered a groundbreaking alliance with Mediterranean Shipping Company (MSC).
  • This collaboration focuses on enhancing Spain’s fast-ferry offerings through a locally tailored approach.
  • Key developments include the creation of new routes in the Strait of Gibraltar, such as Ceuta-Algeciras under the Ceuta Lines brand and Tarifa-Tangier, pending a decision by the Algeciras Bay Port Authority (APBA).
  • Further phases of this partnership, including additional route developments and fleet expansions, will be revealed in the coming months. This initiative represents a significant step towards redefining the fast-ferry market in Spain.

EU Approves €853.6 Million Public Service Compensation for Corsica Linea and La Méridionale

By | 2024 Newsletter week 48 | No Comments

The European Commission has confirmed that €853.6 million in public service compensation granted by France to Corsica Linea and La Méridionale complies with EU State aid rules. This financial support covers passenger and freight maritime transport services between Marseille and five Corsican ports—Ajaccio, Bastia, Propriano, Porto-Vecchio, and L’Île Rousse—over the period 2023-2030.

 Background

In February 2024, the Commission launched an in-depth investigation to determine whether the compensation met the EU’s Service of General Economic Interest (SGEI) Framework. The inquiry focused on justifying certain public service obligations included in five service contracts. Two key concerns emerged:

  1. Towed Freight Traffic: The Commission questioned whether there was a genuine need for public service obligations related to the transport of towed freight between Marseille and Corsica, given that private operators from nearby ports already provided similar services.
  2. Freight Volumes: Concerns arose over the minimum freight volumes required per crossing, which appeared potentially disproportionate to user demand.

 Key Findings

Following submissions from France and stakeholders, the Commission concluded that the public service measures were justified:

  • Genuine Market Need: French authorities demonstrated that private market forces could not fully meet the demand for towed freight between Marseille and Corsica. The investigation revealed irregular and insufficient market offerings from Marseille, with neighbouring ports unable to substitute the services adequately.
  • Proportional Freight Volumes: The set minimum freight volumes were deemed reasonable and necessary to avoid ship saturation and ensure seamless operations. Historical data and traffic forecasts supported the need for these thresholds, highlighting risks of operational inefficiencies if they were not maintained.

 Approval

Based on this evidence, the Commission ruled that the compensation aligns with EU State aid rules, recognising the importance of uninterrupted maritime connectivity for Corsica’s economic and social needs. This decision ensures reliable transport services between Marseille and Corsica, benefiting passengers, businesses, and freight operators.


Reaction from Corsica Linea

Corsica Linea celebrates the European Commission’s validation of the public service delegation. “This decision reaffirms Marseille’s role as the primary freight port for Corsica and strengthens a robust, socially responsible, and environmentally ambitious service.”

As the leading employer of French sailors in the Mediterranean, CORSICA linea invests €500 million in its fleet to reduce CO2 emissions by 40%, with a goal of achieving net zero emissions by 2040. Operating under the French flag, the company upholds the highest standards of safety and environmental stewardship.

Source: European Commission and Corsica Linea

Photo: Jean-Pierre Fabre

Brittany Ferries Submits Jersey-Only Ferry Bid, Advocates for Joined-Up Approach

By | 2024 Newsletter week 48 | No Comments

Brittany Ferries, majority shareholder in Condor Ferries, confirmed its bid for the Jersey-only ferry service, asserting its expertise and readiness to serve Jersey for the next 15 years.

CEO Christophe Mathieu welcomed the independent assessment process announced by Jersey Ministers and expressed trust in its integrity. “We recognise past challenges but now is the time to move forward,” he stated.

Brittany Ferries remains prepared for both Jersey-specific and unified service models. “Our ships, schedules, and systems are ready for a joined-up approach benefiting both islands,” Mathieu added, emphasising the efficiency of a single operator for mainland and intra-island services.

The company pledged adherence to service and pricing commitments, while carefully monitoring the process.

Source: Brittany Ferries Newsroom

Fred. Olsen Express Strengthens Fleet with a New Fast Ferry

By | 2024 Newsletter week 48 | No Comments

Fred. Olsen Express has announced the addition of a new fast ferry, the BARLOVENTO EXPRESS, to its fleet. Key details include:

Vessel Specifications:

IMO Number: 9237644

Builder: Incat (Hull 058)

Year Built: 2003

Previous Names: CIUDAD DE CEUTA (Trasmediterranea), VITTORIO M (Liberty Lines)

Operational Plans:

Scheduled to commence operations in December 2024

Will serve the route between Las Palmas de Gran Canaria and Morro Jable in Fuerteventura

Fleet Composition:

With this addition, the fleet will comprise:

Eight high-speed ferries

Three mini-ferries

Two cargo vessels

Expansion Plans:

Plans to introduce a new route connecting El Hierro with Tenerife, starting on December 31, 2024

Source: Fred. Olsen Express

Cargotec to Sell MacGregor to Triton for EUR 480 Million, Paving the Way for Hiab’s Standalone Future

By | 2024 Newsletter week 48 | No Comments

Transaction Overview

  • Cargotec is selling its MacGregor business to Triton for an enterprise value of EUR 480 million.
  • The sale supports Hiab’s future growth as a standalone business.

Transformation Timeline

  • Cargotec’s transformation into standalone Hiab is expected to take place on 1 April 2025.
  • The sale of MacGregor is projected to close by 1 July 2025 at the latest.

Strategic Decisions

  • The transformation includes listing Kalmar as a separate company, preparing Hiab for independence, and divesting MacGregor.
  • Following the transformation, Cargotec plans to rename itself as Hiab.

Source and more information: Cargotec

Innovation with Sustainable Microgrid Technology will Strengthen Ports of Stockholm

By | 2024 Newsletter week 48 | No Comments

Ports of Stockholm is launching an innovative project to integrate onshore power supply (OPS) with microgrid technology at the Port of Kapellskär. This initiative, funded by the Swedish Innovation Agency Vinnova, aims to combine solar cell systems, battery energy storage systems (BESS), and an advanced energy management system (EMS) to ensure a reliable power supply, reduce greenhouse gas emissions, and enhance the port’s resilience to disruptions.

The project is a collaboration between Ports of Stockholm, the University of Skövde, Stella Futura, and Ilmatar. It is scheduled to run from November 2024 to November 2027, with the demonstration system being implemented at the Port of Kapellskär, approximately 90 kilometers north of Stockholm.

HIS

This development aligns with EU regulations requiring onshore power connections for ships by 2030, addressing the increased demands on the electricity grid and contributing to the port’s environmental goals.

Source: Ports of Stockholm

IMAGE CARDS

By | 2024 Newsletter week 48 | No Comments

Since 22 November 2024, Golden Star Ferries’ ANDROS KING (ex-VOLCAN DE TABURIENTE) has been undergoing dry docking at Perama (Piraeus III dry dock). The ship is currently undergoing an extensive refit and conversion before entering service in Hellenic Coastal Shipping. She is expected to join the company’s fleet for the summer season of 2025. The ferry was purchased in July 2024 and delivered in September.

It is anticipated that she will operate on the Rafina–Andros–Tinos–Mykonos route. One of the youngest ferries in the Hellenic ferry fleet, she was built in Spain in 2006. ANDROS KING has a carrying capacity of 1,500 passengers and 310 cars (1,200 lane metres) and can sail at a speed of 22.5 knots.

Photo: Kostas Papadopoulos

On 3 November 2024, Seajets’ SUPERSTAR arrived at the Spanopoulos yards for her scheduled annual maintenance. The ferry serves the Agios Konstantinos–Sporades Islands route (Skiathos–Skopelos–Alonissos), where she has become very popular.

Built in Belgium in 1974, the ferry has been part of the Greek ferry scene since 1992. SUPERSTAR has a carrying capacity of 1,700 passengers and 250 cars and sails at a speed of 20 knots.

Photo: Kostas Papadopoulos

Malin Collin is appointed as new CEO of the Port of Trelleborg. She replaces current CEO Jörgen Nilsson, who has chosen to move on to new challenges.

Source: Port of Trelleborg

HADAG Seetouristik und Fährdienst AG has put its latest green-energy hybrid passenger ferry into operation.

The 33-metre-long ferry has a capacity of up to 250 passengers and will be used on HADAG’s routes in the Port of Hamburg and on the Elbe. Its name “Finkenwerder” derives from the name of a Hamburg city district.

The ferry’s paintwork, developed by COSCO SHIPPING Europe, brings the message of friendship between the shipping company and the city of Hamburg to the local people for at least the next three years.

Photo: Hafen Hamburg Marketing, Mahdi Ahmad

The arrival of OLYMPOS SEAWAYS at Damietta’s Pan Marine RoRo Terminal marks the start of a new direct freight ferry service between Egypt and Italy, operated by DFDS in partnership with Pan Marine Group. Connecting Damietta and Trieste, the service offers weekly departures and a swift 68-hour transit, ideal for perishable goods like fresh produce and textiles from Egypt, and dairy, agricultural, and industrial goods from Europe. A dedicated terminal in Damietta ensures efficient operations, enhancing trade links and boosting maritime connectivity between Egypt and Europe.

Photo source: Pan Marine Group

Following the issues affecting the ferry GIRAGLIA and the resulting suspension of maritime continuity between Sardinia (Santa Teresa di Gallura) and Corsica (Bonifacio), Moby, along with the relevant stakeholders, has implemented a temporary solution. The ship MOBY ZAZA has been deployed to cover a similar route, though now connecting the ports of Golfo Aranci and Porto Vecchio.

While passenger capacity (1,450) and cargo capacity (530 cars) have increased, the transit time has significantly extended from 30 minutes to 4 hours.

Kenneth Gustavsson becomes the new CEO of Gotland Alandia Cruises, which operates the cruise ship BIRKA GOTLAND. The ship, which entered service with new owners in March this year, cruises between Stockholm, Åland, Gotland and a number of other Baltic Sea destinations.

The ferry companies Viking Line and Gotlandsbolaget have jointly formed the new company Gotland Alandia Cruises in February 2024.

Source: MyNewsDesk