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sandra

Sep 01
Love0

Stena AB H1 Interim Report

By 2023 Newsletter week 35

Click photo to view report

H1 (1 January – 30 June 2023) in million SEK

  • Consolidated EBITDA: 6,458 (5,547)
  • Consolidated Operational EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: 6,356 (4,978)
  • Result before taxes: 485 (82)
  • Liquidity position remains strong: SEK 24.0 billion

FERRY OPERATIONS: Increased car- and passenger volumes partly offset by lower freight volumes compared to the same period last year.

  • Operational EBITDA decreased by SEK 376 million to SEK 1,686 (2,062) mainly due to higher costs. Freight volumes decreased 3% compared to last year, car volumes increased 2% and passenger volumes increased 5%.

SHIPPING: Increased operational EBITDA as a result of strong rates within Tanker operations together with increased operational EBITDA within the RoRo segment due to larger fleet in operation compared to the same period last year.

RORO OPERATIONS:

  • Operational EBITDA from chartering out Ro-Ro vessels increased by SEK 153 million to SEK 444 (291) million in H1, mainly due to larger fleet in operation.

CURRENCY

Revenues and expenses, reported in Swedish kronor, are significantly affected by fluctuations in currency exchange rates, primarily relative to the U.S. dollar, the British pound and the Euro.

Revenues in Q2: 28% USD | 21% EUR | 15% GBP | 25% SEK

Sep 01
Love0

Grimaldi’s CRUISE SMERALDA to Adria Ferries?

By 2023 Newsletter week 35

The 1997-built ro-pax ferry CRUISE SMERALDA seems to be close to become a ship part of the Ancona-based Adria ferries fleet.

Market rumours, not confirmed but neither denied by the interested parties, say that Grimaldi Group is to sell the vessel currently deployed for Finnlines on the Malmö – Travemünde link to the Italian company active on the routes from the ports of Ancona and Bari to Albania.

CRUISE SMERALDA = 1,500 passengers | 2,200 lane meters.

Adria Ferries recorded very positive financial results in 2022 (EUR 68 million of revenues and EUR 18 million of profit) and has been looking for further tonnage at least for the last 12 months.

Sep 01
Love0

Siremar – Caronte to shut down maritime continuity with some islands in Sicily from September 30th

By 2023 Newsletter week 35

Due to the legal dispute ongoing with the Sicilian Region on the maritime continuity and the seizure of three ferries from the Court of Messina, Siremar – Caronte & Tourist Isole Minori announced that will stop serving the maritime link to and from Aeolian, Egadi and Ustica islands as from next September 30th.

One of the consequences of this decision is that 71 seafarers will be axed but the company said that it has no other options.

In order to face this situation, the Sicilian Region last week anticipated that it will look for other ferry operators to cover some subsidized maritime links with the small islands surrounding Sicily proceeding through a direct call to the remaining Italian ferry players.

Sep 01
Love0

Trasmapi’s HSC Incat 045 renamed CHAMPION JET 3

By 2023 Newsletter week 35

HSC CHAMPION JET 3 is the new name of the former HSC Incat 045.

Spanish Trasmapi sold her to Seajets in early August. The 86m ship is currently at the port of Vigo, flying the Cypriot flag and will be delivered to the Greek crew soon.

The ship is the third sister ship of CHAMPION JET 1 and 2. She was built in Australia (Incat, Tasmania) in 1997.

Her carrying capacity is for 670 passengers and 200 private cars. She plies at 35 knots.

Seajets has the largest high-speed fleet of the Aegean, connecting 50 islands (Cyclades and Crete) with 400 connections.

Its fleet capacity is 24,000 passengers (one of the largest in Europe) and 3,800 vehicles.

Photo: Trasmapi

Sep 01
Love0

A record summer: over 4 million passengers were transported the last two months via the three main ports of Attica

By 2023 Newsletter week 35

The Greek Minister of Shipping and Island Policy met with the Board of the Association of Passenger Shipping Companies and discussed all issues that concern the shipping and ferry industry. Millions of passengers are transported every year.

The Minister referred to the significant increase in passenger traffic and pointed out that in July and August, more than 4 million passengers were transported from the three main ports of Attica (Piraeus, Rafina and Lavrio), which is a record number.

He also underlined that the majority of ferry companies have responded to society’s request, with significant discounts on ferry tickets.

Aug 25
Love0

Viking Line: a half-year that exceeds expectation

By 2023 Newsletter week 34

Q2, 2023

  • Sales amounted to EUR 132.4 million (EUR 141.0 million)
  • Other operating revenue was EUR 0.1 million (EUR 2.4 million)
  • Operating income totalled EUR 18.0 million (EUR 10.1 million)
  • Net financial items were EUR -4.4 million (EUR -2.5 million)
  • Income before taxes totalled EUR 13.6 million (EUR 7.6 million)
  • Income after taxes totalled EUR 10.6 M (EUR 6.3 million).

H1, 2023

  • Sales amounted to EUR 226.3 million (EUR 199.8 million)
  • Other operating revenue was EUR 8.9 million (EUR 8.3 million)
  • Operating income totalled EUR 17.1 million (EUR -8.0 million)
  • Net financial items were EUR -7.9 million (-4.7 million)
  • Income before taxes totalled EUR 9.2 million (EUR -12.7 million)
  • Income after taxes totalled EUR 6.9 million (EUR -9.8 million)

Outlook for the full financial year 2023

The Board of Directors has decided to revise its earnings outlook for 2023. Provided that energy prices remain at current levels, Viking Line’s Board of Directors believes that income before taxes will be significantly better than last year.

On June 21, 2023, the outlook was:

Provided that energy prices remain at current levels, Viking Line’s Board of Directors believes that income before taxes will be better than last year.

Aug 25
Love0

Rederi AB Eckerö: Performance record on all routes, vessel sales completed and extensive loan amortisations

By 2023 Newsletter week 34

Q2, 2023

  • 882,209 passengers travelled with the Eckerö Group’s ships, which was 22% more than in the same period last year (722,917)
  • The number of cargo units was 44,326, which was 7% more than in the same period last year (41,432)
  • Sales increased by 23% to EUR 62.8 million (EUR 50.9 million)
  • The operating result was EUR 11.9 million (EUR 1.0 million), which is the best second quarter operating result ever
  • The result for the financial period was EUR 6.9 million (EUR -0.2 million), which is the third best second quarter result ever
  • The sales of BIRKA STOCKHOLM and EXPORTER were completed in the second quarter and the Group has amortised EUR 46.0 million of its interest-bearing liabilities since the sale of the vessels. After these amortisations net liabilities amount to EUR 18.0 million and the equity ratio to 47.8% as of 30.6.2023.

H1, 2023

  • 1,416,387 passengers travelled with the Eckerö Group’s ships, which was 32% more than in the same period last year (1,075,514)
  • The number of cargo units was 86,763, which was 8% more than in the same period last year (80,561)
  • Sales increased by 28% to EUR 102.1 million (EUR 79.9 million)
  • The operating result was EUR 6.5 million (EUR -4.5 million), which is the best first half year operating result ever
  • The result for the financial period was EUR 1.3 million (EUR -4.2 million), which is the third best first half year result ever

Outlook

The third quarter has started with volumes in excess of pre-pandemic levels. The continued relatively high bunker prices, high inflation and volatile Swedish krona create continued uncertainty. Despite these uncertainties the company is expected to deliver a full year result on a level with the best years before the pandemic.

Aug 25
Love0

P&O Ferries will stop Liverpool-Dublin route

By 2023 Newsletter week 34

P&O Ferries announced in a message that the Liverpool-Dublin route will be axed.

The company says that, earlier this year, the owner of our Liverpool site, Peel Ports, informed P&O that its current berth would no longer be available after the end of 2023.

P&O says it has been looking for solutions, but “no suitable alternative has been offered or found that would enable to maintain the current service into 2024.”

The company is now “beginning a consultation process with the employees affected by the intended closure of this service.”

NORBAY and NORBANK, which currently serve the Liverpool-Dublin route with 24 sailings per week, will be redeployed elsewhere on the P&O Ferries route network in the coming months.

Photo: Wikimedia 2013harry

Aug 25
Love0

Incat Tasmania to deliver the World’s largest Battery Electric Ship

By 2023 Newsletter week 34

Incat Tasmania has under construction the largest lightweight battery electric ship so far constructed in the world for delivery to Buquebus.

This ship, the world’s largest battery-electric Ro-Pax ferry, will be 100% battery electric.  The energy storage system (ESS) battery storage at over 40MWh will be four times larger than any battery installation that has been constructed and installed anywhere in the world for the marine transport environment.

The batteries power a series of E-motors which drive the water jet propulsion system.

The electrical system integration is by Wärtsilä and ESS by Corvus Energy.

Incat 096 will have a capacity for 2,100 passengers and crew, 225 cars and will also include a Duty-Free Shop of over 2000 square metres.