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sandra

Feb 16
1

European Commission closes State aid investigation into Danish and Swedish public financing of Øresund fixed rail-road link

By | 2024 Newsletter week 07 | No Comments

The European Commission has concluded that the State guarantee model granted by Denmark and Sweden for the construction of the Øresund fixed rail-road link does not constitute new aid within the meaning of EU State aid rules.

The Commission has also found that part of the tax support implemented by Denmark constitutes new aid that is disproportionate and therefore not compatible with the Treaty. Denmark must now recover the incompatible aid, including interest.

In October 2014, following a complaint by a ferry company, the Commission found that Denmark and Sweden’s support to the consortium owning and operating the Øresund fixed rail-road link, Øresundsbro Konsortiet I/S, was in line with EU State aid rules.

Denmark and Sweden’s support took the form of a State guarantee on the loans taken out by the consortium to finance the link. Denmark also provided the Danish parent company of the consortium, A/S Øresund, with special tax treatment as concerns depreciation of assets and fiscal loss carry forward.

In September 2018, the General Court partially annulled the Commission’s 2014 decision on procedural grounds.

Continue to read here.

Feb 16
1

Jadrolinija (1)

By | 2024 Newsletter week 07 | No Comments

Jadrolinija has acquired OSLOFJORD, primarily for its international route between Croatia and Italy.

The ship is expected in Croatia at the end of this month, after which it will go to a shipyard, probably Viktor Lenac.

OSLOFJORD was built in 1993 at the Swedish shipyard Bruce Shipyard, was equipped in Norway and completely renovated in 2014 in Finland. Most cabins were then removed. A crossing between Dubrovnik and Bari is to take about six and a half hours. [timetable]

The vessel has been used a day ferry between Sandefjord and Strömstad, with tax free sales as main income. Since both Croatia and Italy belong to the EU, duty free sales will not be possible.

Photo: Mike Louagie

Feb 16
1

Jadrolinija (2)

By | 2024 Newsletter week 07 | No Comments

Croatia’s government granted approval to Jadrolinija to borrow 10.7 million euro from local banks to buy two passenger ships.

Erste & Steiermaerkische Bank will provide a loan of 5.2 million euro that will finance 80% of the purchase price of catamaran DANICA (IMO n°9871763).

Privredna Banka Zagreb will provide the other loan, worth 5.5 million euro, which will cover 80% of the cost of the catamaran KATA (IMO n°9862138).

Source: SeeNews

Photo: Dragec – Shipspotting

Feb 16
1

SEATRUCK PANORAMA sold to Mexican company TMC

By | 2024 Newsletter week 07 | No Comments

Seatruck Ferries RoRo vessel Seatruck Panorama has been sold to Transportación Maritima de California or Ferry TMC.

This Mexican company already owns and operates the former RoRo vessels Maersk Flandria and Saga Moon (now respectively San Jorge and Santa Marcela), and San Guillermo.

TMC offers RoRo services through the Sea of ​​Cortez on the La Paz – Topolobampo – La Paz and La Paz – Mazatlán – La Paz Routes.

TMC is a 100% Mexican company.

Feb 16
1

Namegiving ceremony FINNCANOPUS marks the completion of Grimaldi’s half-billion investment programme

By | 2024 Newsletter week 07 | No Comments

FINNCANOPUS, the second hybrid freight-passenger Superstar vessel of Finnlines, was christened in Naantali, marking the completion of Finnlines’ EUR 500-million Green Investment Programme.

Katariina Nurmi, representing DB Schenker, served as the vessel’s godmother, embodying Finnlines’ dedication to maintaining a dependable and efficient logistics network. This network not only supports the growth of freight customers but also strengthens Finnlines and its partners as they strive towards mutual success.

Feb 16
1

Stena Line officially commenced Dublin-Liverpool freight route

By | 2024 Newsletter week 07 | No Comments

Stena Line has commenced its new Dublin – Liverpool (Birkenhead) freight service on 15 February 2024. The addition of the new route is expected to further boost the company’s freight volumes following a record year on its Irish Sea services in 2023.

The addition of the new service will be Stena Line’s seventh route in the Irish Sea region complementing its Belfast – Cairnryan, Belfast – Heysham, Belfast – Liverpool, Dublin – Holyhead, Rosslare – Fishguard and Rosslare – Cherbourg services.

With RoPax STENA HORIZON temporarily operating on the new Dublin- Liverpool route, the company is currently assessing ship deployment options for a permanent freight-only RoRo vessel.

Feb 16
1

Onex Group: for the first time ferries from Algeria enter a Greek shipyard

By | 2024 Newsletter week 07 | No Comments

ONEX Group (Technology Systems & Business Solutions) has won two international open tenders from the state shipping company of the Republic of Algeria, ENTMV (Entreprise Nationale de Transport Maritime de Voyageurs).

These tenders pertain to two ferries in the Algeria Ferries fleet, which connect Algeria with France (Marseille) and Spain (Barcelona and Alicante). As a result, the ONEX Group Shipyards in Elefsina will undertake the maintenance and complete renovation of the 153m-long TARIQ IBN ZYAD (1995). The ship has already been docked at the Elefsina Shipyards since February 11, 2024, marking the first Algerian ship to enter a Greek Shipyard.

In the coming weeks, the 200m-long BADJI MOKHTAR III (2021) will also undergo a general overhaul at the Elefsina Shipyards.

Photo: Wikipedia

Feb 16
1

Seajets is interested in introducing HSC SANTORINI PALACE on the Samos-Ikaria run

By | 2024 Newsletter week 07 | No Comments

Seajets has announced its intention to introduce the HSC SANTORINI PALACE on the Piraeus-Syros-Mykonos-Evdilos (Ikaria)-Karlovasi (Samos) route from June 1st until September 30th.

SeaJet’s interest in the Ikaria and Samos route has been evident since the previous period, with the approval of their HSC MEGAJET in October 2023 on the same route by the Coastal Transport Council.

The route will be daily, with the ship departing from Piraeus 9 AM and arriving in Evdilos 1 PM. On its return voyage, it will depart Evdilos for Piraeus at 6 PM.

Minoan Lines has recently chartered the HSC SANTORINI PALACE to Seajets.

Photo: Minoan Lines

Feb 16
1

Keel laying ceremony for the innovative ro-ro ship NEOLINER ORIGIN at RMK Marine Shipyard

By | 2024 Newsletter week 07 | No Comments

Neoline Armateur celebrated the beginning of assembly of its first NEOLINER ORIGIN at RMK Marine shipyard in Tuzla, Turkey, marked by the laying of the first block. The launch of the ship is planned for December 2024, with delivery scheduled for June 2025 in Turkey.

The inaugural voyage of the NEOLINER ORIGIN, a 136-metre wind-powered ro-ro cargo ship, is set for July 2025, connecting the ports of Saint-Nazaire, Saint-Pierre-et-Miquelon, Baltimore, and Halifax.

Following the contract’s commencement in January 2023 and several months of detailed design studies, construction of the NEOLINER ORIGIN officially commenced on November 8 at RMK Marine Shipyard in Tuzla, Turkey, during the cutting of the ship’s first steel sheet. The ship is designed for specialized transport of rolling and oversized freight.

The NEOLINER ORIGIN will be equipped with nearly 3,000m2 of sail and two foldable Solidsail carbon masts, each 76m in height, manufactured by Chantiers de l’Atlantique. It will also feature retractable anti-drift plans made by Fouré Lagadec and will be equipped with an ultra-efficient weather routing system developed by D-ICE Engineering. These innovative technologies, along with a commercial speed of 11 knots, will enable the NEOLINER ORIGIN to achieve fuel savings of up to 80% to 90%, resulting in a significant reduction of associated greenhouse gas emissions.

With a loading capacity of 1,200 linear metres (2.8m wide) or 265 20′ containers, weighing a maximum of 5,300 tons, the NEOLINER ORIGIN can accommodate various types of cargo.

Feb 09
1

DFDS Q4 interim & full-year report: solid result for 2023

By | 2024 Newsletter week 6 | No Comments
  • EBITDA of DKK 5.0bn in line with Win23
  • Revenue up 2% to DKK 27.3bn
  • Ferry & Logistics network expanded
  • Adjusted free cash flow of DKK 2.8bn
  • Total dividend and share buyback of DKK 600m
  • EBIT 2024 outlook of DKK 2.0-2.4bn (2023: DKK 2.3bn)

Q4 2023

  • Challenging freight markets
  • EBITDA reduced 5% to DKK 1.0bn
  • Cash inflow of DKK 1.5bn from sale and leaseback of three ferries
  • CO2 ferry emission intensity lowered 2%

OUTLOOK 2024

  • EBIT of DKK 2.0-2.4bn
  • Revenue growth of 5-8%
  • Adjusted free cash flow of around DKK 1.5bn

“We’re pleased to deliver a solid result for 2023 despite challenging freight markets. Our ferry and logistics network has been expanded significantly, and in 2024 we will focus on unlocking value as we start executing on our new strategic and financial ambitions,” says Torben Carlsen, CEO.

Read the Q4 2023 interim and full-year report here.