All Posts By

sandra

Mar 15
Love1

InvestEU: NIB lends to zero and low carbon vessels with infrastructure in Norway

By 2024 Newsletter week 11

NIB (Nordic Investment Bank) signs a 7-year loan to co-finance ferry and express boat operator Norled AS’ investments in zero and low carbon vessels and related land-based infrastructure in Norway during 2024-2030.

The InvestEU programme supports the loan under NIBs Framework Operation Green Mobility and Transport approved by the Investment Committee.

This NOK 500 million (EUR 43.4 million) loan will help Norled finance the extension of its low-carbon fleet. This is NIB’s first InvestEU loan in Norway.

Mar 15
Love1

IMAGE CARDS

By 2024 Newsletter week 11

Naviera Armas has announced that the Lanzarote – Huelva route will cease to operate from April 19th. Instead, all operations between the Canaries and mainland Spain will now be focussed on the port of Cadiz, 100 kilometres south of Huelva.

The ferries Ciudad de Valencia, Volcán de Tinamar and Villa de Tazacorte will connect Cadiz with Lanzarote, Fuerteventura, Gran Canaria, Tenerife, and La Palma.

Source: Gazettelife.com

Grimaldi Group’s RoPax Igoumenitsa will be renamed City of Soller when it starts to operate for Trasmed at the beginning of April  on Barcelona – Palma de Mallorca.

Amid Red Sea tensions, AB Maritime set a record by shipping 14,000 containers between Jordan and Egypt in January and February. Egypt’s Ministry of Transport hailed this achievement, marking the company’s highest shipment count since its founding in 1985.

Source: AhramOnline

Ferry fleet ABmaritime: visit the website here

Stena Line is understood to have sold the URD to Åland-based Sea Lines. She is expected to see service on the Black Sea on routes between Turkey and Romania.

On March 15, 2024, the Atlantic Vision embarked on its final sailing for Marine Atlantic, leaving Port aux Basques at 1145am for the last time. Source: Marine Atlantic.

The vessel has been on the long-term bareboat charter since November 14, 2008, servicing both Argentia and Port aux Basques routes.

The ferry, formerly Superfast IX, is owned by a subsidiary of AS Tallink Grupp, Baltic SF IX Limited.

Smyril Line sold the RoRo ships Eystnes (photo) and Hvítanes to Nordwest Ship Management. The vessels will be handed over to the new owner in April 2024.

Eystnes will be renamed Link Aurora and Hvítanes will become Link Polaris.

Stena Line has secured the charter of Bore Song for its new line Birkenhead – Dublin.

The RoRo will be joining Stena Line in mid-April, thereby releasing Stena Horizon and Stena Nordica to their home routes.

The Province of Nova Scotia, along with the federal government and Halifax Regional Municipality, announced a joint investment to build the Mill Cove Ferry Service, which will include five electric ferries, two terminals and a maintenance facility.

Source: Nova Scotia

Mar 08
Love1

Baleària carries more than 5 million passengers in 2023

By 2024 Newsletter week 10
  • The shipping company achieved a historic €652 million in turnover (+15%) and recorded an EBITDA of €117 million (-16%) in its 25th anniversary year.
  • Passengers 5.2 million
  • Vehicles 1.4 million
  • Cargo lane metres 7.4 million
  • The company invested €113million, mainly in sustainability and digitalisation.
  • Baleària’s environmental commitment was expanded through the addition of two electric-powered vessels and the construction of the second gas-powered fast ferry.
  • The ratio of tons of CO2 emitted per mile decreased by 8% thanks to the increased use of natural gas and other eco-efficient measures.
  • Staff numbers reached a record high of 2,500.
  • Social cash flow hit €730 million.
  • Owning fleet of 30 ships, as well as operating a dozen chartered ships, Baleària offered 25 routes in six different countries.
  • By business area, 59% of the turnover corresponds to the passenger area and 36% to cargo transport.
  • 75% of the turnover comes from domestic routes, while the remaining 25% is from international connections.

Press release (in Spanish)

Sustainability Report (click on picture below)

Mar 08
Love1

Finnlines’ Financial statements 2023 and Financial review January–December 2023

By 2024 Newsletter week 10

January–December 2023

  • Revenue EUR 680.7 (736.1 in 2022) million.
  • Result EUR 60.3 (133.3) million.
  • EBITDA, EUR 166.3 (221.2) million.
  • Finnlines transports a third of the 1 million trucks carrying goods between Finland, Sweden, and Continental Europe every year.
  • In 2023, Finnlines transported 710,000 cargo units, shipped 157,000 cars, and carried 1,344,000 tons of non-unitised freight, and 695,000 passengers.

Tom Pippingsköld, President and CEO, in conjunction with the review:

“The high interest rate environment has negatively affected private consumption, construction sector and industrial demand. Finnlines had to face multiple of issues during 2023 which weakened our result, apart from higher interest rates were, strike in February, start-up costs of a new vessel, dockings of several vessel to name few. The same matters seem to continue at the beginning of this year, but we are seeing now improved industrial activity and private consumption has bottomed out. ECB should now understand to quickly bring the interest rates down in order to prevent neither a stagnant nor recessionary development in EU area, instead, their task is now to fuel growth in EU.”

“We are finally, closer than ever, to open a new RoPax line between Sweden and Poland, from Malmö to Swinoujscie.”

Finnlines’ Financial statements 2023, pdf

Finnlines’ Financial review January-December 2023, pdf

Mar 08
Love1

A new electric ferry for Norway’s challenging Vestfjord, Lofoten

By 2024 Newsletter week 10

Western Baltija Shipbuilding in Klaipeda, Lithuania will build an electric ferry for Torghatten Nord:

  • Design “NSD 50CFb” by The Norwegian Ship Design Company in cooperation with Torghatten Nord
  • LOA 73m, 50 cars, 199 pax
  • Route (1): Svolvær – the small island of Skrova, Lofoten.
  • Route (2): During the summer the ferry will also cross the Vestfjord and travel to Skutvik on the mainland. This 2-hour crossing over the exposed Vestfjord is a major tourist attraction.
  • Fully enclosed car deck due to the harsh weather conditions north of the Arctic Circle,
  • Torghatten Nord chose to opt for fully electric operation between Svolvær and Skrova (was not a requirement in the tender)
  • Delivery 2026, Q1
Mar 08
Love1

CLdN launches new services between Rotterdam and Ireland and expands capacity between Rotterdam and the UK

By 2024 Newsletter week 10

CLdN has chartered two 962 TEU LoLo cargo vessels (Pavo J and Andromeda J) that will ship container cargo between the recently acquired Distriport terminal in Rotterdam and Dublin and Cork.

The introduction of the new LoLo services will also enable an optimisation of CLdN’s RoRo fleet deployment, thereby increasing capacity on the routes between Rotterdam and the UK.

The two additional weekly LoLo sailings complement the three RoRo sailings operated by CLdN each week to and from Dublin. These RoRo services will continue to operate from CLdN’s RoRo terminal in Rotterdam.

The LoLo service to Cork complements the existing RoRo service operated by CLdN from its Zeebrugge terminal.

The new services will be operational as from the week commencing 18th March.

Read more in the press release.

Mar 08
Love1

The Grimaldi Group has already sold five ships since the beginning of this year

By 2024 Newsletter week 10

In less than three months in 2024, the Grimaldi Group has emerged as a seller of five ships as part of a broader plan for fleet modernization and the phase-out of its most aged vessels.

The Naples-based company recently signed an agreement with Fred Olsen to sell the 24-year-old sister ships, Finnhawk and Finnkraft. These vessels, built in China at Jinling Shipyard and controlled by the subsidiary Finnlines, are expected to fetch between EUR 25 and 30 million en bloc.

Additionally, it has been revealed that Grimaldi is selling the RoRo ship Ciudad de Alcudia (formerly Euroferry Egnazia) to United Marine Egypt (Ume), with delivery scheduled before the next summer. This ferry, built in 1994, boasts a capacity of 550 passengers and 3,200 lane meters.

Earlier this year, the Italian group also sold the RoRo unit Eurocargo Sicilia to Balearia. (photo copyright © Thomas P. Illes / thilles consulting GmbH)

Furthermore, the same buyer will acquire the RoPax Ciudad de Mahon, both of which will be transferred from Grimaldi to the Spanish competitor through a bareboat charter with a purchase obligation.

Mar 08
Love2

Moby Vinci and Sharden transferred to Grandi Navi Veloci and renamed GNV Sirio and GNV Auriga

By 2024 Newsletter week 10

Moby Vinci and Sharden have been transferred from the control of Onorato’s Moby to Grandi Navi Veloci (GNV), a company owned by the MSC Group, as anticipated. The transaction, valued at EUR 109 million, marks the conclusion of the broader restructuring plan for Moby. This restructuring was recently finalized with a EUR 352 million loan provided by Gianluigi Aponte, the founder of MSC.

Following the transfer, Moby Vinci and Sharden will be renamed GNV Sirio and GNV Auriga, respectively. They are slated to operate on the Genoa – Palermo regular route and the Genoa – Porto Torres service.

With these additions, Grandi Navi Veloci’s fleet now comprises 28 ships serving 31 routes across 7 different countries.

Photo: GNV

Mar 08
Love1

European Shipowners’ priorities 2024-2029

By 2024 Newsletter week 10

Ahead of the 2024 European elections, ECSA launches its policy priorities for the next five years. The four pillars are Climate and energy transition, People-centred green and digital transition, Ship Finance and Competitiveness and Trade.

Europe is facing an existential transformation as it strives to meet climate neutrality by 2050 while maintaining industrial leadership at global level.

European shipping has been a cornerstone of Europe’s energy, food, and supply chain security. European shipping, representing 39.5% of the world fleet, enables Europe to play a leading role in the international supply chains. Shipping delivers the goods and energy we need, supports EU exports and connects European citizens within Europe and with the rest of the world.

To ensure European shipping continues to play a strategic role for the security of Europe, the ECSA Priorities 2024-2029 put forward policy recommendations along four key pillars:

  • Climate and energy transition
  • People-centred green and digital transition
  • Ship Finance and Competitiveness
  • Trade

Read the ECSA Priorities 2024-2029 here.
Download the ECSA Priorities 2024-2029 here.