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sandra

Aug 04
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Condor’s new ship arrives in Portsmouth

By 2023 Newsletter week 30

Wednesday 3 August 2023, Portsmouth International Port welcomed CONDOR ISLANDER, the latest vessel in the fleet for Channel Island ferry service Condor, as part of berthing trials before it officially enters service in the autumn.

Andrew Williamson, Portsmouth International Port’s head of cruise and ferry said: “As a lifeline service to the Channel Islands Condor Ferries plays a crucial role making sure goods and passengers can travel efficiently and safely. This second ship in Portsmouth means more choice for both passengers and also extra resilience for freight too.”

As a critical shipping route for Channel Island trade, Portsmouth International Port and Condor Ferries recently agreed a new long-term deal, which cements their partnership until 2033. With sailings 364 days a year, the new addition of the Condor Islander and 10-year agreement, provides certainty for this vital freight and passenger service.

John Napton, Condor’s CEO, said, “We are making a few alterations from Islander’s previous operator so there are different requirements involved. Changes include installing a duty-free shop, changes to overnight cabin configurations and refreshing the passenger lounges.”

CONDOR ISLANDER was acquired by Condor in April 2023 from New Zealand, where she was operating for StraitNZ as the STRAITSMAN.

Photo: Compass Photography Services

Aug 04
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Seajets purchased Trasmapi’s HSC INCAT 045

By 2023 Newsletter week 30

According to the latest information, Seajets is the buyer of the Trasmapi’s HSC INCAT 045. The ship was purchased from the Spanish ferry operator in July 2021 with purpose to be introduced on the Algeciras – Tanger line. However, despite of her refurbishment, she remained inactive.

INCAT 045 will be the 18th High-Speed Craft in the Seajets fleet.

She will be delivered to her Greek owners within the next few days at Vigo.

The ship was built in Australia (Incat, Tasmania) in 1997 and she is a sister ship of HSC CHAMPION JET 1 and 2.

(ex-names: CONDOR RAPIDE, SEA LEOPARD, SPEED ONE, SPEEDONE, INCAT 045, WINNER, JERVIS BAY)

Aug 04
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Passenger traffic data July 2023 in the ports of Piraeus – Rafina – Lavrio

By 2023 Newsletter week 30

More than 2 million passengers moved this July from and to the ports of Piraeus, Rafina and Lavrio, registering a 7.85% increase compared to the same month last year.

Of these, 1.5 million were to and from the port of Piraeus, an increase of 8.55% compared to July 2022. (Cars +7.66%, trucks +5.73%, two-wheelers +7.82%.)

The largest increase in passenger traffic is observed in the Argosaronic Islands as 452,680 passengers moved this July compared to 389,908 in July 2022. This is an increase of 16.1% compared to last year.

A 4.99% increase in passenger traffic is also seen in the port of Rafina (cars +7.47%, two-wheelers +4.53%, trucks -2.9%).

It is noted that the port of Lavrio recorded an increase in passenger traffic by 7.57% and cars by 8.61%.

Aug 04
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Bridgemans Services Group has taken delivery of ro-pax ISABELLE

By 2023 Newsletter week 30

Bridgemans is now beginning an extensive retrofit of ISABELLE’s environmental systems and living, dining, recreation, and gathering areas to create a comfortable live-work home for large workforces.

When the retrofit in Estonia is finished in late 2023, the ferry will offer a luxurious home away from home that includes 650 newly renovated single cabins with private ensuites, a high-end dining room, lounges, meeting rooms, fast wi-fi, offices, first aid clinic, a state-of-the-art fitness facility, billiards and games room, and dedicated accommodations for crew members.

In April, Tallink Grupp signed a contract with Canadian enterprise Bridgemans Floatel LP/Bridgemans Services Group LP for a multi-year charter of the vessel ISABELLE, with a purchase option.

Aug 04
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RFI’s IGINIA is the first dual fuel electric ferry active in Italy

By 2023 Newsletter week 30

IGINIA, the hybrid ferry of RFI Rete Ferroviaria Italiana (Gruppo FS Italiane) built by the temporary association of companies between T. Mariotti and San Giorgio del Porto shipyards, has just arrived back in the Strait of Messina where she will resume service in the next few days.

The ship has returned from Genoa, after undergoing hybridisation work and the required warranty checks between March and July this year.

IGINIA was originally delivered to RFI with some equipment prepared for future hybridisation. Equipped with a photovoltaic system, the ship has been green-oriented since its first voyage.

The conversion to hybrid propulsion included the installation on each propulsion unit of an electric motor powered via a converter by battery strings, sized to allow manoeuvres to berth and depart ports in electric mode, without the aid of endothermic propulsion motors.

The battery strings are charged by the same electric motors, used in axis generator mode, during navigation and/or alternatively by the auxiliary generators or in port via the shore connection.

Aug 04
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IMT Terminal in Genoa debuts in the Motorways of the Seas with Grandi Navi Veloci

By 2023 Newsletter week 30

The IMT Terminal in the port of Genoa, terminal operator controlled by Ignazio Messina & C group, received this week the first call of two ro-ro ships operated by Grandi Navi Veloci, thus officially entering the market of the Motorways of the Seas.

CADENA 3 and CAROLINE RUSS are deployed on the Genoa-Termini Imerese and on the Genoa-Palermo-Malta links. The terminal move, away from the old port, helps to reduce the summer congestion at the ro-pax ferry berths.

GNV is 100% controlled by MSC Group. MSC Group has a 49% participation in Messina.

Aug 04
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Ro-Ro SEATRUCK PENNANT leaves the fleet

By 2023 Newsletter week 30

SEATRUCK PENNANT has been renamed UR and reflagged under the Jordanian flag.
Built in Spain in 2009 she has sailed on the Irish Sea trade for her owner Seatruck and operated on charter to companies as Stena Line, P&O and others.

Ur was an important Sumerian city-state in ancient Mesopotamia.

Jul 28
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Finnlines’ Financial review January–June 2023

By 2023 Newsletter week 29

 H1, 2023 (January-June)

  • Revenue EUR 336.4 (356.9 in 2022) million, -6%.
  • Shipping and Sea Transport Services generated revenue amounting to EUR 325.3 (343.8) million, of which passenger-related revenue was to EUR 31.5 (25.6) million.
  • The revenue of Port Operations was EUR 21.4 (24.8) million.
  • EBITDA EUR 89.6 (97.7) million, -8%.
  • Result for the reporting period EUR 41.9 (56.3) million, -26%.
  • Interest bearing debt declined by EUR 69.1 million and was EUR 387.8 (456.9) million at the end of the period.

Q2, 2023 (April-June)

  • Revenue EUR 173.2 (199.9 in 2022) million, -13%.
  • EBITDA amounted to EUR 44.1 (62.1) million, -29%.
  • Result for the reporting period EUR 20.3 (41.2) million, -51%.

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

  • Economic growth is projected to be modest in the EU area in 2023, but some moderate improvement is forecasted for 2024.
  • According to the statistics of the Finnish Customs the total value of exports increased by 1%, but the value of imports decreased by 14.3% year-on-year (January–May 2023 vs. 2022).
  • Due to the war and high interest rate environment consumer and business confidence has remained below long-term average. Inflation is also expected to remain persistently high.
  • Lower import volumes have reduced cargo flows and together with lower bunker surcharge has affected Finnlines Group’s turnover.
  • Lower volumes in some of our routes forced us to either reduce the frequency or the number of vessels in the route. Thus, we decided to charter out one ro-ro to the Grimaldi Group. Moreover, we have reduced capacity where there are lower volumes, and increased capacity where we see and have growth.
  • Growth by opening new routes, the latest is the Sweden–Poland line where one ro-pax vessel is expected to start to operate daily between Malmö and Świnoujście in few weeks’ time.
  • Passenger business has increased very well after the pandemic.
  • The first of these new Superstar ro-pax vessels, FINNSIRIUS, was delivered on 18 July 2023, as scheduled, and will enter the Naantali–Långnäs–Kapellskär route in mid-September.
  • The second vessel, FINNCANOPUS, will follow by the end of the year.
Jul 28
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Tallink Grupp swings back into profit in Q2, 2023

By 2023 Newsletter week 29

Tallink Grupp’s Q2 (April- June) financial results are revealing a swing back into profit following the minor loss in Q1.

Q2

  • -0.7% passengers 1,541,081 (1,552,174 in Q2 2022)
  • -22% cargo units 85,359 (109,380 in Q2 2022).
  • The reason for the decline: less vessels, operating 18% less trips across the routes, thus reducing the overall route capacity.
  • +11.5% revenue EUR 229.7 million (EUR 206.0 million in Q2 2022).
  • +138.7% EBITDA EUR 68.5 million (EUR 28.7 million in Q2 2022).
  • The strong effort and positive results in many areas have resulted in a net profit of EUR 33.4 million (net loss of EUR 0.7 million in Q2 2022).

H1

The strong results of Q2 mean that the company has delivered a profitable first half year for the first time since 2015.

  • +14% pax 2,590,858 (2,272,435 in H1 2022).
  • -18.8% cargo units 172,091 (211,318 in H1 2022).
  • In addition to fewer vessels in regular traffic in 2023 due to charters, there is one cargo vessel less operating on the company’s routes as the vessel SEA WIND was sold in spring 2022.
  • +28.4% Revenue EUR 400.9 million (EUR 312.2 million in H1 2022).
  • +439% EBITDA EUR 95.6 million (EUR 17.7 million in H1 2022).
  • Net profit at the end of H1 2023 was EUR 28.0 million (EUR 40.7 million net loss at the end of H1 2022).

Commenting on the results of the first half year of 2023, Tallink Grupp’s CEO Paavo Nõgene said:

“The results of the first half of 2023 are proof that the decisions we have made over the last few years to speed up our recovery following the Covid crisis with vessel charters, were the right ones. The positive impact of the vessel charters is undeniable, especially at this time when the increased cost of living is still putting pressure on people’s travelling choices. Our current strategy to operate our regular routes with the most optimal number of vessels and charter out other vessels, is helping us on our road to recovery.”

“Our focus now is on maintaining profitability into the next two quarters of 2023 while continuing to reduce our debts accumulated over the crisis periods. The vessels we currently have operating on our four core routes are performing well with some room for growth should passenger numbers from further afield than our home markets see some increases in the year or so ahead. The short-term plan is to continue operating with the same business model of the last few years, with a mix of regular traffic and charter contracts, until such time when demand on our current key routes or elsewhere increases and warrants additional capacity.”