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By | 2020 Newsletter week 48 | No Comments

Stena Group Reports First Nine Months

  • Total revenues decreased by SEK 2,178 million to SEK 24,572 (26,750) million in the nine months ended 30 September 2020. The decreased revenues mainly relate to the lower sales within Ferry- and Drilling operations.
  • Total direct operating expenses decreased by SEK 224 million to SEK 17,360 (17,584) million in the nine months that ended on 30 September 2020. The decreased operating expenses are mainly related to lower operating expenses within Ferry Operations due to reduced businesses, together with redundancy costs within Ferry Operations amounting to SEK 302 million.
  • The EBITDA for the consolidated Stena AB Group decreased by SEK 2,261 million to SEK 4,837 (7,098) million in the nine-month period that ended on 30 September 2020 mainly due to the Covid-19 outbreak and less operating days within the Drilling segment, offset by improved EBITDA within the Tanker- and LNG operations and New Businesses segment.
  • Ferry Segment EBITDA, excluding redundancy costs, decreased by SEK 1,544 million to SEK 1,414 (2,958) million in the nine months due to plunge in passenger volumes and decreasing freight volumes as a consequence of the Covid-19 outbreak. Redundancy costs for closing routes amounting to SEK 302 million. Car volumes decreased 53%, passenger volumes decreased 56% and freight volumes decreased 8%.
  • EBITDA from chartering out RoRo vessels decreased by SEK 85 million to SEK 190 (275) million in the nine-month period. The decrease is mainly due to lower charter income due to the sale of the vessel KAIARAHI in Q4, 2019 offset by the delivery of GALICIA in the Q3, 2020.
  • In order to streamline the reporting and use the same valuation basis for major classes of assets, Stena has decided to change the measurement policy for vessels from the cost model to the revaluation model. The change is recorded as a one-time effect in revaluation reserves within equity as of January 1, 2020. The remeasurement has increased the value of vessels with SEK 4.3 billion as of January 1, 2020 before tax.

Ferry Operations (SEK in millions)

Q3, 2020

  • Revenue 2,934 (4,547)
  • Direct Operating Expenses -1,780 (-2,634)

 Nine months, 2020

  • Revenue 7,878 (11,128)
  • Direct Operating Expenses -5,680 (-7,192)
  • Redundancy Costs -302

Download the report by clicking on the cover picture

DFDS Opens New Direct RoPax Route Between Dunkerque and Rosslare

From 2 January 2021, a new freight ferry route between Rosslare and Dunkirk will offer trucks and their drivers direct and paperless transport between EU countries.

  • The port of Dunkerque is a gateway to Ireland’s top export markets – France, Belgium, Germany and Netherlands – and a host of secondary markets
  • 3 chartered RoPax ferries (possibly Visentini-class vessels)
  • 6 weekly departures in each direction
  • Each ferry has a capacity of up to 125 trucks and their drivers in Covid-19 safe single cabins
  • Crossing time is 24 hours
  • The route will initially not target passengers, although a passenger offering may be marketed at a later stage
  • The route is expected to reach revenues above DKK 300m in 2022
  • The route is jointly owned by DFDS and Irish interests
  • Managing director will be Aidan Coffey
  • DFDS offices will be opened in both Rosslare and Cork

CLdN to Start Second Weekly Call between Zeebrugge and Cork

After having successfully started a brand-new service between Zeebrugge (BE) and Cork (IE) in May this year, CLdN is poised to introduce a second weekly call in the coming days, to cope with the increasing demand on this route.

In light of the end of the transition period of Brexit approaching, combined with the modal shift from accompanied to unaccompanied shipping and having a direct link between the continent and Ireland bypassing the Landbridge, resulted in a booming demand for the Cork service.

DFDS: Partnership Aims To Develop Hydrogen Ferry

DFDS and its partners (*) have applied for EU support for development of a ferry powered by electricity from a hydrogen fuel cell system which only emits water. Green hydrogen is to be produced by a projected offshore wind energy-powered electrolyser plant in Greater Copenhagen.

EUROPA SEAWAYS (project name)

  • On board power production: PEM Fuel cells
  • Engine power: 23MW
  • Fuel: Compressed hydrogen
  • Fuel tank capacity: 44T
  • Passenger capacity: 1,800
  • Trailer and car capacity: 2,300 lane metres
  • Route: initially Oslo-Frederikshavn-Copenhagen
  • Bunkering interval: 48 hours
  • CO2e/year emission avoidance: 64,000 Tons

Design: Knud E. Hansen (with link to their website’s dedicated page)

(*) DFDS, ABB, Ballard Power Systems Europe, Hexagon Purus, Lloyd’s Register, Knud E. Hansen, Ørsted and Danish Ship Finance.

FERRY PORTS

Ystad’s New Port Will Soon be Ready for Use

The Port of Ystad in the south of Sweden has been expanded with new ferry berths to be able to receive more traffic and larger ships. On Wednesday, November 25, the first tests were conducted in the new port to secure that the new ferry berths work as planned. From the turn of the year, the new ferry berths will be used regularly.

“We are very happy to finalize this comprehensive project. The Port of Ystad now has good conditions to continue to grow on both the passenger and freight side. We look forward to welcoming current and future shipping companies in our new port”, says Björn Boström, CEO of Port of Ystad.

GNV to Start Civitavecchia – Olbia next Summer

GNV is the opening to sales of the new summer connection for Sardinia between Civitavecchia and Olbia, with 5 departures a week from each port starting from June 2021.

The Civitavecchia-Olbia route meets the demand of customers who are asking for more and more connections to and from Sardinia , which GNV connects with the historic Genoa-Porto Torres and Genoa-Olbia lines.

Brittany Ferries Celebrates the Introduction of GALICIA

Today (Friday 27 November), GALICIA was officially inaugurated through a life online event. More in next Ferry Shipping News.

Webinar

By | 2020 Newsletter week 48 | No Comments

Webinar 3 (19 November): Will we have the right ferries?

Results of the 5-question poll:

Are more subsidies needed to develop “green” fuels and ferries?

  • The majority (83%) thinks more subsidies are needed.

Do we think the pandemic will slow down the ferry fleet renewal programme?

  • 71% of the participants think yes

Is there any future for cruise-ferries?

  • 83% sees a future. Perhaps there is a certain confusion about the definition. A cruise-ferry in the Baltic might be different to one trading in the Med.

These two answers did not generate a clear answer, with more than 40% answering ‘no opinion’:

  • Will the shortage of truck drivers affect the development of freight ferries?
  • Do we think that Europe’s ageing ferry fleet will create a tonnage crisis in the coming years?

Attica Group Posts Q3 Results

By | 2020 Newsletter week 48 | No Comments

Consolidated revenue

  • Q3 = -30% = €113.58m
  • Q1+Q2+Q3 = -29% = €230.57m

Traffic volumes

  • Q3 = -45% passengers, -30% cars, -16% freight units, -22% sailings
  • Q1+Q2+Q3 = -51% passengers, -37% cars, -16% freight, -28% sailings

EBITDA

  • Q3 = €36.86m (57.48)
  • Q1+Q2+Q3 = €38.79m (72.98m)

EBIT

  • Q3 = €24.54m (46.22m)
  • Q1+Q2+Q3 = €3.33m (41.37m)

Consolidated Profit after taxes

  • Q3 = €12.14m (41.95m)
  • Q1+Q2+Q3 = €28.81m (30.90m)

Outlook

For the forthcoming months of 2020, which constitute months of low traffic, the Group’s traffic volume will be further affected by the evolution of the COVID-19 pandemic. Moreover, the restrictive measures recently imposed by the Greek State on the movement of citizens will decrease the Group’s traffic volume compared to the corresponding period last year.

In this constantly changing economic environment, the initial estimates of Management, as presented in the Annual Financial Report for the year 2019, for an estimated revenue drop at a range from 30% to 40% compared to the fiscal year 2019 are in line with current trading figures.

Irish Continental Group: Strong Financial Position in spite of Challenging Conditions

By | 2020 Newsletter week 48 | No Comments

Volumes (Year to date, 21 November 2020)

  • -66.8% Cars 122,700 (369,700)
  • -68% Passengers
  • +4.4% RoRo Freight 293,500 (281,200)
  • -8.9% Container TEU 287,200 (315,100)
  • -11.7% Terminal Lifts 258,600 (293,000)

Financial information for the first ten months of 2020:

Consolidated Group revenue €229 million (-26%)

The Ferries Division has faced challenging trading conditions in its Irish Ferries passenger business following the continuation of travel restrictions. In the year to 21 November car volumes are down 67% with total passenger volumes down 68% compared with 2019. This has had a material impact on passenger revenues, which were 71% lower in the year to 31 October 2020 compared to 2019.

Brexit

The Ferries Division is highly dependent on trade flows between Ireland and the UK. Therefore any slowdown in either economy as a result of the exit of the UK from the EU will likely have an effect on Irish Ferries’ carryings. The company continues to work with all relevant regulatory authorities to ensure that our systems are prepared for the end of the Brexit transition period.

The Group remains in a strong financial position with cash and undrawn committed credit facilities at 31 October of €232.4 million and net debt of €96.7 million (pre-IFRS 16: €63.2 million).

Tirrenia Cin Announced the Close-Down of Five RoPax Lines from December 1st

By | 2020 Newsletter week 48 | No Comments

Compagnia Italiana di Navigazione, the company part of Moby group which controls the former public ferry company Tirrenia, announced that five ropax lines will be closed down from December 1st.

The reason behind this decision is the postponement of the expiring date of the public convention for the maritime continuity with the islands which was approved by law last summer but not formalized yet by the Italian government.

The five lines set to be closed are the following:

  • Termoli – Tremiti islands
  • Genoa – Olbia – Arbatax
  • Naples – Cagliari
  • Cagliari – Palermo
  • Civitavecchia – Arbatax – Cagliari.

Tirrenia Cin also said that large part of the workforce aboard and onshore is at risk.

Danish Defence and DFDS Enter into New Agreement

By | 2020 Newsletter week 48 | No Comments

DFDS and the Joint Movement and Transport Organisation (JMTO), which provides strategic transport for Danish military missions, have entered into a new 6-year agreement.

Seven freight ferries will be made available for the transport of military materiel and equipment in connection with NATO preparedness, participation in military exercises and operations, and humanitarian crises.

On a day-to-day basis, the ferries will be deployed on DFDS’ routes, and will be made available to the military when and to the extent requested by the Danish Defence.

The agreement is also linked to the ARK project, a Danish-German cooperation project, which ensures access to and availability of maritime transport capacity for Danish and German defences in accordance with the nations’ own obligations to NATO.

The ships are: ARK DANIA, ARK GERMANIA, SUECIA SEAWAYS, MAGNOLIA SEAWAYS, BRITANNIA SEAWAYS and FINLANDIA SEAWAYS. The last ship in the agreement will be one of several ships from the DFDS fleet, to be selected according to need.

Godby Shipping Found Charter for Last Inactive RoRo, BALTICA

By | 2020 Newsletter week 48 | No Comments

In its own magazine (Flaskposten), Godby Shipping says that the rates reflect the market situation and are low or very low.

  • BALTICA: Sea-Cargo, January – April 2021 + options
  • MISANA and MISIDA: Sea-Cargo, until December 2021 + options
  • LINK STAR: UPM-Kymmene, until December 2020
  • MISTRAL: Smyril, until March 2021 + option until December
  • MIDAS: Accordia Shipping, until December 2021
  • MIMER: CMA CGM, until December 2021

Passenger-driven Company BC Ferries Suffers from Pandemic

By | 2020 Newsletter week 48 | No Comments

BC Ferries released its second quarter results today for the three and six months ended September 30, 2020. COVID-19 continues to have a significant impact on the company’s operations and financial results.

  • Net earnings for Q2 of fiscal 2021 were $37.8 million, $57.2 million lower than the same quarter of the previous year.
  • Year-to-date, since April 1, 2020, net losses were $24.2 million, compared to net earnings of $107.2 million in the same period in the prior year, a decline of $131.4 million.
  • Revenue for Q2, at $247.6 million, was down $81.7 million year-over-year.
  • Revenue for the six months ended September 30, 2020 was $385.0 million, down $190.7 million over the same period in the prior year.

During the quarter, BC Ferries carried:

  • 5.5 million passengers (-29%)
  • 2.5 million vehicles (-14%)

Year-to-date, the company has carried:

  • 7.7 million passengers (-43%)
  • 3.8 million vehicles, (-28.7%)

FERRY PORTS

By | 2020 Newsletter week 48 | No Comments

Port of Gothenburg: Recovery in RoRo and Vehicle Segments

The number of ro-ro units handled through to September was down 11% on the same period in 2019. Even though the year started off with a slump, the Q3 figure (-6%) is a tentative sign that the negative curve is levelling off.

New vehicle handling at the Port of Gothenburg fell by 19% during the first nine months. The fall in the wake of Covid-19 was mainly during Q2, with handling volumes down by almost half. Despite the recovery during Q3, year-on-year figures reveal a decline of eight per cent.

Grendi Adds a Fourth Call in the Port of Golfo Aranci for its RoRo Link

By | 2020 Newsletter week 48 | No Comments

Grendi Trasporti Marittimi asked the local port authority of the Sardinian ports to call at Golfo Aranci. This port will be added as the fourth call in the line linking also Marina di Carrara, with Cagliari and Porto Torres.

The green light from the authority is expected to arrive next week. Golfo Aranci is not far from Olbia.

Grendi asked for a 6,000 sq metres concession in the port where semi-trailers and containers will be handled and stored.

As of today, on the roro line between Sardinia island and Italy mainland are deployed the ship ROSA DEI VENTI and SEVERINE.

INDUSTRY ASSOCIATIONS

By | 2020 Newsletter week 48 | No Comments

ESPO Says Higher Ambitions are Needed for Reducing GHG Emissions from Shipping

On 17 November, the IMO Marine Environment Protection Committee (MEPC75) gave preliminary approval to the compromise agreement for the package of technical and operational measures to address greenhouse gas emissions from ships in the short run.

The agreed package combines the introduction of:

  • EEXI, Energy Efficiency Existing Ships Index
  • CII, Carbon Intensity Indicators operational measure
  • Carbon Intensity rating mechanism
  • the strengthening of the Ship Energy Efficiency Management Plan (SEEMP) framework.

ESPO, the European Sea Ports Organisation, sees the agreement as a first step.

ESPO however believes that the 2018 IMO CO2 target is possibly not ambitious enough in light of the European Green Deal objective of no net emissions of greenhouse gases in 2050, and the higher EU targets for 2030.

Interferry GHG Data Survey Bids for Fair Application of IMO Proposals

By | 2020 Newsletter week 48 | No Comments

Interferry is conducting a major energy efficiency data survey among members to ensure that existing ferries can comply with short-term greenhouse gas emissions measures agreed in principle at last week’s meeting of the IMO’s Marine Environment Protection Committee.

Subject to final approval at next June’s MEPC meeting, by 2023 existing ships must achieve new pre-defined energy efficiency values in an initial step towards the 2030 target of a 40% improvement compared with 2008 values – or lose their licence to operate.

Interferry’s survey aims to reconcile the diversity of ferry operations within sector-specific adaptations to the regulatory instrument, the Energy Efficiency Existing Ships Index (EEXI).  In this regard, one of Interferry’s main objectives is that true CO2 reductions through historic and future measures carried out by ferry operators are fully credited in the regulation.

IN THE MEDIA

By | 2020 Newsletter week 48 | No Comments

How Jadrolinija is Looking to the Future

Jadrolinija’s David Sopta tells Justin Merrigan how Croatia’s national ferry line is steering a steady course.

Buquebus Looks at Hydrogen

The company TCI Gecomp will develop the strategy of incorporating hydrogen as a fuel in the operation of the Argentinian-Uruguayan shipping company.

Millions to Compensate for the Cancelled Order

The companies Ansgar / Finferries are suing the provincial government of Åland for just over €10.5 million after the province cancelled the order for the electric hybrid ferry.

Caledonian Maritime Assets Limited has completed planned operational improvement works at Oban Ferry Terminal which were designed to improve passenger safety at the harbour. (Source: CMAL)

The Government of Finland approved a state guarantee of up to EUR 90 million for a EUR 100 million loan to Tallink Silja Oy, a subsidiary of AS Tallink Grupp.

Brittany Ferries has ended the charter of KERRY (part of the Stena RoRo fleet). On 24/11 the vessel started a new charter for DFDS on the Kiel – Klaipeda route.

SAOS Ferries’ small ropax SAONISOS will eventually be introduced in the Inter-Cycladic service, according to the recent published results (Ministry of Shipping) for the public service lines. Currently, the ship is undergoing repairs while she will be dry-docked from 23 to 29 November. Then she will enter service on the following lines:

  • Syros-Tinos-Andros-Karystos
  • Syros-Kythnos-Kea-Lavrion
  • Syros-Paros-Naxos-Donousa-Aigiali-Katapola-Koufonissi-Schoinoussa-Iraklia-Naxos-Paros-Syros
  • Syros-Paros-Naxos-Folegandros-Sikinos-Ios-Thirassia-Thira-Anafi

SCANDIA SEAWAYS, the sixth Jinling newbuilding for DFDS is going on sea trial on 15 December 2020. Delivery early January.

Corsica Linea concludes this difficult year 2020 with some brighter colours, by hiring 40 extra seafarers as from 1 December 2020: 15 fifteen officers, crew, mechanics and electricians. The ships fly the French flag (first register).

The former Minoan Lines’ floating palace N. KAZANTZAKIS (now METROPOLIS) was sold for scrap in India (Alang). The 48-year-old vessel was laid up in Hong Kong for the past five years and was in a very poor condition. She has been renamed ROPOLIS and re-registered at Saint Kitts and Nevis.

A technical malfunction was the immediate cause of the grounding of Viking Line’s ropax ferry AMORELLA – investigation by Safety Investigation Authority, Finland, is ongoing. (intermediate report)

The Sylt ferries RÖMÖEXPRESS and SYLTEXPRESS appear in a new, modern design: the classic blue and white livery became a dynamic red and white. With the new color design and a change of name to “FRS Syltfähre GmbH & Co. KG”, the Sylt ferries proudly show that they belong to the FRS family.

Molslinjen’s Fanølinjen is planning a major upgrade of the ferry terminal in Esbjerg. The port will be prepared in anticipation of the arrival of the electric ferry in autumn 2020.

Molslinjen puts four high-speed ferries between Jutland and Zealand in the Christmas traffic. All four fast ferries will be equipped with brand new corona shielding between the seats. “UV-canons” will help to purify the air from the A/C. According to the manufacturer, the powerful UV rays remove at least 80% of all bacteria and viruses in the air.