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sandra

Apr 19
Love1

German, Belgian and Dutch ports: Europe, join forces to preserve the industry

By 2024 Newsletter week 15, 2024 newsletter week 16

For years, the conversation between ports has been dominated by the question of who is the biggest. Nowadays, however, when the CEOs of Port of Antwerp-Bruges, North Sea Port, Duisburger Hafen AG and Port of Rotterdam sit around the table, we no longer talk about tonnes of cargo, but about how we can unite to secure a sustainable future for industry in Europe. On the eve of the European industry summit on 17 and 18 April, we call on European government leaders to do the same and find a solution to the deteriorating position of our industry.

Continue to read here

Apr 19
Love1

Another ferry for Magic Sea Ferries

By 2024 newsletter week 16

On April 10, 2024, Magic Sea Ferries announced the purchase of the high-speed craft Magic 1 (formerly Majestic Joy) from the Singapore-based fast ferry operator Majestic Fast Ferry.

The ship was delivered on March 15 and is expected to arrive in Greece by May 15, 2024. It will likely be introduced on the Piraeus – Agia Marina (Aegina) – Hydra route.

The vessel was built in Indonesia in 2023. The ship has a gross tonnage of 397, is 39 metres long, and 10 metres wide. It has a capacity for 317 passengers and is equipped with 2 x MTU 16v 2000M72 engines (2,880 kW – 32 knots).

Magic Sea Ferries also owns the larger HSC Cat 1 (1994), which will be introduced on the Lavrion-Kea-Kythnos-Serifos-Sifnos-Milos route this summer.

Photo: Magic Sea Ferries

Apr 19
Love1

AML with two highspeed crafts on the Spain-Morocco routes

By 2024 newsletter week 16

It appears that AML may operate with two high-speed crafts on the Spain – Morocco routes, thereby competing with DFDS.

The Highspeed 3 has been renamed Morocco Express 1 (2000), following the recent sale of Attica Holding’s stake in Africa Morocco Link (AML) to Stena Line. The vessel is currently undergoing significant refitting and upgrades at the Perama repair zone since October 2023, and it is expected to serve on the Tarifa – Tanger Ville line.

Additionally, the HSC Caldera Vista (1991) will be the second vessel to join the Western Mediterranean service, as it was recently chartered from Seajets. The ship has already adopted AML’s livery, and it is likely to be renamed.

Photos: Kostas Papadopoulos

Apr 19
Love1

IMAGE CARDS

By 2024 newsletter week 16

After almost 16 years in Canada, ATLANTIC VISION, the former SUPERFAST IX is back in Europe. She reached Fayard, Odense, and is being prepared for future deployment. By who remains an open question.

Photo: Marine Atlantic

After almost 16 years in Canada, ATLANTIC VISION, the former SUPERFAST IX is back in Europe. She reached Fayard, Odense, and is being prepared for future deployment. By who remains an open question.

Photo: Marine Atlantic

Apr 12
Love1

Africa Morocco Link marks Stena Line’s venture into expansion beyond Europe

By 2024 Newsletter week 15

Ferry company Africa Morocco Link gets new owners:

  • Attica Holdings S.A. sells 49% to Stena Line Holding B.V.
  • Bank of Africa sells 51% of its shares to Compagnie de Transports au Maroc (CTM)

Remarks

  • Both Bank Of Africa and CTM, are entities belonging to O Capital Group, owned by Mr Othman Benjelloun.
  • The ships Morocco Star and Highspeed 3, owned by subsidiaries of Attica Group, are included in the transaction.
  • Attica: The total consideration amounts to €49m and the net profit is expected to exceed €21m.
  • Competitor DFDS entered the Strait of Gibraltar market on 10 January 2024 buy acquiring FRS.
  • AML was founded in 2016 by Attica Group and Bank of Africa.

Sources:

Press release Attica

Press release Stena

Press release CTM (in French)

Apr 12
Love1

Attica Group invests in Greek tourism – buys one more hotel

By 2024 Newsletter week 15

Through its subsidiary Attica Blue Hospitality, Attica Group is expanding into the hotel industry with a €14 million investment. They acquired the Galaxy Hotel, adjacent to the Naxos Resort Beach Hotel (bought in 2021-, on the island of Naxos.

Additionally, the Group has acquired adjacent land parcels totaling approximately 20 acres, paving the way for future development. With a combined capacity of 142 rooms and 286 beds, Attica Group aims to expand further, respecting the island’s character and environment.

Mr. Panos Dikeos, CEO of Attica Group, highlights the strategic importance of this expansion, emphasizing its contribution to local economies and Greece’s tourism sector. With a growing presence in Naxos and Tinos, Attica Group remains committed to providing quality services and supporting sustainable tourism growth.

Apr 12
Love1

DFDS adds EKOL to its portfolio

By 2024 Newsletter week 15

DFDS acquires international transport network connecting Türkiye and Europe from Ekol Logistics, strengthening DFDS’ market position in the transport corridor between Türkiye and Europe. The transaction is expected to be completed in Q4 2024, pending EU merger control approval.

Source: DFDS Media

The financial outlook for 2024 has been revised:

  • The DFDS Group’s revenue is in 2024 now expected to increase by 8-11% compared to 2023 assuming the acquisition is closed at the beginning of Q4 2024. The previously expected revenue increase in 2024 was 5-8%.
  • The 2024 outlook for EBIT is unchanged DKK 2.0-2.4bn.
  • Due to an expected integration period of 2-3 years, the time for achieving the financial ambition of a ROIC of around 10% in 2026 is extended to 2027.
  • The above-mentioned acquisition is at closing expected to increase DFDS’ financial leverage, NIBD/EBITDA, by around 0.3x on a pro forma basis.
  • The financial ambition of reducing financial leverage to 2.5x in 2026 is unchanged as is the financial ambition of generating an annual Adjusted free cash flow of DKK 1.5bn in the period 2024-2026.

Photo: EKOL

Apr 12
Love1

Start of Finnlines’ new route between Sweden and Poland

By 2024 Newsletter week 15

Finnlines’ new daily maritime bridge between Sweden and Poland started on 10 April 2024.

Route: Malmö, Sweden – Świnoujście, Poland

Ship: RoPax Finnfellow (Swedish flag) – 440 pax – 3,000 lane metres

Antonio Raimo, Line Manager at Finnlines:

“The launch of a new route will benefit Swedish and Polish exports and imports and expands Finnlines’ operations outside Finland, as well as confirming Finnlines commitment to Polish security of supply by calling both the port of Gdynia and soon the port of Świnoujście. We have already strengthened the shore organization and opened an office in Świnoujście.”

Apr 12
Love1

Seajets’ ex-“IDO” twins arrived in Greece

By 2024 Newsletter week 15

On April 7 and 8, 2024, the latest acquisitions of Seajets, HSC Orchan Gazi 1 and Osman Gazi 1, arrived in Greece under tow. Both sisterships were purchased last February from the Turkish company Istanbul Deniz (IDO). They operated daily from Istanbul to Moudania and are among the 8 ships that Seajets acquired in the last 8 months following a tremendous expansion plan.”

These vessels are:

  • Champion Jet 3 (ex-Incat 045)
  • Eurochampion Jet (ex- Natchan Rera)
  • Superruner Jet II (ex-Gotlandia)
  • Super Star II (ex-Color Viking)
  • Express Skiathos
  • Santorini Palace
  • HSC Orchan Gazi 1
  • HSC Osman Gazi 1

Photo: Kostas Papadopoulos