All Posts By

sandra

Nov 17
Love0

Kerkyra Seaways is replacing HERMES with PROTEUS from Anes Ferries

By 2023 Newsletter week 47

Anes Ferrys’ PROTEUS is set to take over the Igoumenitsa-Corfu-Paxoi ferry route, replacing Kerkyra Seaways’ former vessel, HERMES. The latter recently changed ownership, being acquired by the Croatian company Jadrolinija and renamed VELA LUKA.

PROTEUS will be operating on a short-term charter for approximately four months on the aforementioned route until Kerkyra Seaways introduces a new vessel to replace her.

Having concluded its services on the Evia (Mandoudi) – Sporades route last April, PROTEUS brings a rich history, being constructed in Greece back in 1973. With a capacity to accommodate 372 passengers and 110 cars, PROTEUS is well-equipped to provide a seamless and efficient ferry service along the Igoumenitsa-Corfu-Paxoi line during this transitional period.

Keep an eye out for updates as Kerkyra Seaways prepares to introduce their next vessel to enhance the ferry experience on this popular route.

Photo: Marine Traffic (Alex Volos)

Nov 17
Love0

Strong third quarter for DFDS

By 2023 Newsletter week 46

Outlook firmed up by solid Q3, 2023

  • Q3 EBITDA of DKK 1.6bn was ahead of expectations.
  • Passengers: strong high season.
  • Freight: performance as expected below last year.
  • Revenue decreased 2% to DKK 7.2bn
  • Cash flow further improved.
  • EBITDA outlook firmed up to DKK 4.9-5.2bn (DKK 4.8-5.2bn).

“We have firmed up our outlook on the back of a solid quarter, not least a very good passenger result. Freight markets are currently challenging, and we continue to adapt our ferry and road capacity to optimise utilisation.”

Torben Carlsen, CEO

Key freight outlook assumptions for 2023:

  • Q4 Freight Ferry Volumes: Expected to be on par with the volumes from the previous year.
  • Logistics Activity Levels: Anticipated to be below the levels seen in the previous year.
  • 2023 Q4 Passenger Volumes: Expected to be higher compared to the same period in the previous year.
  • Revenue Outlook: Overall Group revenue expected to remain at around the same level as 2022. Higher passenger and logistics revenue offset by lower revenue primarily from bunker surcharges.
  • Earnings Outlook: The Group’s EBITDA for 2023 is expected to be within a range of DKK 4.9-5.2 billion. This is a slight adjustment from the previous range of DKK 4.8-5.2 billion provided earlier. In 2022, the EBITDA was DKK 5.0 billion.

The improved outlook is attributed to better than expected earnings in the Ferry Division, while the Logistics Division faces more challenging market conditions, leading to a reduced outlook in that segment.

“Every Minute Counts”

Continued improvements in the quarter ensured that short-term emission reductions targeted towards 2030 continues to be on track. Ferry improvements were driven by various incremental vessel upgrades and the schedule optimisation program “Every Minute Counts” focused on reducing turnaround time in port terminals, and updated schedules enabling lower speed and reduced fuel consumption.

Ferry CO2 emissions per GT nautical mile were in Q3 2023 reduced 4% compared to Q3 2022 across the route network.

Nov 17
Love0

DFDS October 2023 Volumes: Freight 1% Lower, Passengers 4% Higher

By 2023 Newsletter week 46

Ferry – freight:

  • Total volumes in October 2023 were 1.4% below 2022.
  • North Sea volumes were just below 2022 as robust automotive volumes were offset by lower volumes between primarily Sweden and the UK.
  • Mediterranean volumes were below 2022 as demand currently is stagnating in both Europe and Türkiye.
  • Channel volumes were above 2022 driven by the Dover Strait routes.
  • Baltic Sea volumes were below 2022 due to lower activity levels, not least in the Swedish construction sector, and a continued negative impact from the war in Ukraine.
  • For the last twelve months 2023-22, the total transported freight lane metres decreased 9.9% to 38.6m from 42.8m in 2022-21.

Ferry – passenger:

  • The number of passengers increased 4.0% driven by more Channel passengers. The number of cars increased 1.6%.
  • The total number of passengers increased 29% to 4.5m for the last twelve months, 2023-22, from 3.5m in 2022-21.
Nov 17
Love0

Italy’s Ferry Sector Rides High with Strong Summer Traffic Growth in 2023

By 2023 Newsletter week 46

Italy experienced robust growth in ferry traffic during the summer of 2023, according to official data from the Ministry of Infrastructure and Transport. The ferry sector witnessed a noteworthy surge in the number of passengers transported, as revealed by the statistics for the July-August 2023 period.

Comparing this two-month interval with the same period in 2022, there was a remarkable 7% increase in ferry passengers. The growth becomes even more apparent when juxtaposed with the figures from July-August 2019, with a substantial 22% rise. Looking at the broader picture, the January-August 2023 period showcased a 25% surge in ferry passenger traffic compared to the same period in 2019.

This positive trend in 2023 follows a challenging period in 2020, marked by a 29% drop in ferry passenger numbers. The sector showed signs of recovery in 2021, narrowing the gap to -10%, and continued the upward trajectory in 2022 with a notable 15% increase.

The buoyant growth in ferry traffic during the summer of 2023 not only signifies a rebound from the setbacks of 2020 but also demonstrates the resilience and vitality of Italy’s maritime transportation sector. The significant year-over-year and pre-pandemic comparisons underscore the sector’s ability to adapt and thrive in a dynamic environment.

Nov 17
Love0

Turkish Tersan Shipyard Buys Norwegian Havyard Leirvik Shipyard

By 2023 Newsletter week 46

Recently Helsinki Shipyard was acquired by the Canadian shipyard group  Davie.

Now the Turkish Tersan Shipyard bought the Norwegian shipyard Havyard Leirvik.

The transaction is based on a share sale, where Eqva ASA is selling its shares (100%) in Havyard Leirvik Holding AS, where the subsidiaries Havyard Leirvik AS and Havyard Leirvik Eiendom AS are included. The transaction is settled by NOK 30 million in cash.

Nov 17
Love0

RFI Has Officially Cancelled the Public Tender for Constructing of up to Three High-Speed Ferries

By 2023 Newsletter week 46

Launched last year, the initiative by Rete Ferroviaria Italiana sought shipyards interested in building dual-fuel fast ferries for deployment on the Strait of Messina. With no participants in the initial round, a second attempt was considered, but it has now been definitively called off. The contract, valued at around EUR 52 million, faced challenges such as the complexity of the procedure and escalating raw material costs. Despite two shipyards seeking more details last year, they ultimately chose not to participate in the tender by submitting an offer.

Nov 17
Love0

Last trip for Kerkyra Seaways’ ferry HERMES

By 2023 Newsletter week 46

After two years of service on the Igoumenitsa-Corfu-Paxoi line, Kerkyra Seaways’ ferry HERMES completed its final crossing on November 15, 2023. The Japanese-built vessel has been sold to Jadrolinija to modernize the local service fleet and is expected to be delivered by December. Originally purchased in December 2019 from the Japanese Nankai Ferry to upgrade the local ferry service, HERMES will be temporarily replaced by a chartered ferry.

Photo: Kerkyra Seaways

Nov 10
Love0

Finnlines’ Financial review January–September 2023

By 2023 Newsletter week 45

Key figures

January-September 2023

  • Revenue EUR 513.2 (558.4 in 2022) million -8%
  • EBITDA EUR 131.7 (169.2) million -22%
  • Result for the reporting period EUR 56.9 (105.2) million -46%
  • Interest bearing debt increased by EUR 52.4 million and was EUR 457.1 (404.7) million at the end of the period.

Q3, 2023

  • Revenue EUR 176.8 (201.5 in 2022) million -12%
  • EBITDA EUR 42.1 (71.5) million, -41%
  • Result for the reporting period EUR 15.1 (48.8) million -69%.

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

“The geopolitical situation is uncertain, and both global and Euro area demand are slow. The EU is experiencing either negative or stagnant growth. Projections for GDP growth in 2023 and 2024 are modest at 0.6% and 1.1%, respectively. Central banks remain wary of inflation, despite a decrease. The European Central Bank’s swift interest rate hikes have negatively impacted private consumption, construction, and corporate investments, hindering economic activity in EU countries. Finland’s export volumes have decreased by 4.7%, and imports by 9.6% in the last 12 months. There’s a call for the ECB to promptly address the declining growth outlook by reducing interest rates.“

“While the negative development in Finland’s exports and imports have resulted in lower cargo volumes for Finnlines and reduced our result, the upward trend in passenger volumes has been very good. Despite the reduced cargo volumes, Finnlines was able to retain its market share.”

Finnlines took delivery of three hybrid ro-ro vessels already in 2022 and this year, in mid-July, the first of the two Superstar class vessels, Finnsirius, was delivered and entered the Naantali–Långnäs–Kapellskär (Finland–Åland Islands–Sweden) route on 15 September 2023.

The second Superstar ro-pax vessel, Finncanopus will be delivered at the end of the year. Finnlines’ EUR 500-million Green Newbuilding Investment Programme, which started in 2018, is nearly completed.

To read more click cover