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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

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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


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


  • 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)


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

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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.


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

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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

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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

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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

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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%)


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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

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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.


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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.