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sandra

Sep 15
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Neptune Lines ordered two next generation Ro-Ro vessels in China

By 2023 Newsletter week 37

(Note from editor: more PCTC than Ro-Ro, but still worth to know.)

On September 5, 2023, Greek Neptune Lines announced the order of two next-generation vessels, with a capacity 4,200 CEU’s, specially designed for its short sea trades.

Both vessels will be built by Fujian Mawei shipyard in China and will be delivered in 2026.

The new vessels, under the Genesis Project, are the first two of a new series which reflects Neptune’s strategy to supplement its fleet over the next decade, increase relevant cargo capacity by 36% from current core fleet vessels, and reduce emissions to remain well ahead of global targets.

Both vessels have hybrid energy systems – designed and constructed to use battery installation to supply peak power. They are also equipped with dual fuel engines, able to utilize LNG or VLSFO as fuel.

The design has been developed together with Deltamarin and the vessels will be classed by DNV.

Neptune Lines was founded in 1975 and has a fleet of 19 vehicle carriers, with capacities ranging from 1,500 to 6,500 CEU.

Photo: Neptune Lines

Sep 08
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AS Tallink Grupp Statistics for August 2023

By 2023 Newsletter week 36

In August 2023 AS Tallink Grupp transported

576,455 passengers, which is a 4.4% decrease compared to August 2022.

The number of cargo units decreased by 26.0% to 26,281 units and the number of passenger vehicles by 2.6% to 86,794 units year-on-year.

FINLAND – SWEDEN (Helsinki-Stockholm and Turku-Stockholm)

The cruise ferry GALAXY I stopped operating on the Turku-Stockholm route in September 2022 due to a charter contract.

ESTONIA – FINLAND (Shuttle services of MYSTAR and MEGASTAR)

The cruise ferry SILJA EUROPA stopped operating on the Tallinn-Helsinki route in August 2022 due to a charter contract.

ESTONIA – SWEDEN (Tallinn-Stockholm and Paldiski-Kapellskär)

Sep 08
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Tallink Grupp adds VICTORIA I to Tallinn-Helsinki route from 12 October 2023

By 2023 Newsletter week 36

Tallink Grupp announced that it will bring back the popular cruise service to the Tallinn-Helsinki route and the company’s vessel VICTORIA I will start operating on the popular route between the two Nordic capitals from Thursday, 12 October 2023.

This means that the company is increasing its daily departures between the two capital cities again to pre-pandemic levels, offering 14 departures between Tallinn and Helsinki daily.

„Passenger numbers on the Tallinn-Helsinki route have shown steady growth and customer demand is there for the cruise product to return, so I am pleased that we are able to meet that demand.”

Paavo Nõgene, CEO of Tallink Grupp

Sep 08
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Holland Norway Lines (1) – Early termination of charter agreement

By 2023 Newsletter week 36

Announcement by Tallink Grupp: the charter agreement for the charter of company vessel Romantika signed between a subsidiary of AS Tallink Grupp, AS Tallink Latvija and Holland Norway Lines BV, has been terminated on 1 September 2023 before the charter agreement’s normal expiry date.

Holland Norway Lines (2) – Declared bankrupt

The court in Groningen declared Holland Norway Lines BV (HNL) bankrupt (4 September 2023). The bankruptcy was requested in consultation with trustee Hans Silvius and the management of HNL. Hans Silvius has been appointed as the curator.

The reason for proceeding with the bankruptcy application is that no potential candidate has come forward for the takeover of Holland Norway Lines since the company applied for a suspension of payments last week (35). The employees of HNL in both Norway and the

Netherlands have been informed by the management of HNL. Although at this point only Holland Norway Lines BV has filed for bankruptcy, it is expected that the subsidiaries in the group will file for bankruptcy within short, as there is no longer prospects for continued operations.

Sep 08
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Attica Group: condolences, disbelief and in-depth investigation

By 2023 Newsletter week 36
  • One crewmember of BLUE HORIZON was charged with homicide with possible intent, and two others with complicity, after the death of a passenger who was pushed into the sea earlier this week.
  • Launch of in-depth investigation, fully supported by Attica Board of Directors.
  • Resignation of CEO, Mr Spyridon Paschalis.
  • The duties of the CEO will be temporarily assumed by CFO, Mr Panagiotis Dikaios.

 

Source: the Greek website of Attica Group

Sep 08
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Viking Line: Record summer for maritime travel

By 2023 Newsletter week 36
  • Between June and August, nearly 1.8 million passengers sailed on Viking Line’s vessels.
  • Many departures during the summer holiday season were sold out well in advance (new trend).
  • Several reasons for the strong demand were local tourism, which was popular in both Finland and Sweden, and the recovery in international tourism in the Nordic region.
  • Viking Line’s passenger figures for the summer months increased most on the Tallinn route (+8.7%) (June-August 656,401 passengers).
  • The company had prepared for the summer holiday season by doubling capacity on its Tallinn departures during the peak of summer, and for six weeks three of the company’s vessels sailed across the Gulf of Finland: VIKING XPRS, VIKING CINDERELLA and GABRIELLA.
  • The cheap Swedish krona drew visitors to Stockholm.
  • +8.1% Turku-Stockholm (801,919 passengers June-August) partially driven by new vessel VIKING GLORY.
  • South Koreans a new passenger category: largest increase among international passengers this past summer. South Koreans take group trips and want to visit as many countries as possible on their trip.

All routes combined: 1,786,499 passengers, 227,064 cars

  • Turku–Mariehamn–Stockholm 801,919 passengers
  • Helsinki–Mariehamn–Stockholm 218,752 passengers
  • Helsinki–Tallinn 656,401 passengers
  • Stockholm–Mariehamn (no service June 30–August 6, 2023) 109,427 passengers
Sep 08
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Increased traffic for Scandro Holdings’ DALEELA on the Greece – Cyprus line

By 2023 Newsletter week 36

On September 1, 2023, Scandro Holdings’ Ro-Pax DALEELA completed her sailings from Piraeus to Cyprus (Limassol, Larnaca) for the summer season 2023.

According to the company’s data –this year- the passenger traffic increased by 45%.

The ship transported 12,000 passengers and 2,500 cars. She performed in total 44 sailings (28 from and to Limassol and 16 from and to Larnaca).

In 2022, the ship transported 7,412 passengers and 2,250 cars.

Sep 08
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Anes Lines’ PROTEUS leave Sporades

By 2023 Newsletter week 36

According to recent information Anes Lines ferry Proteus will probably replace SPORADES STAR on the Inter-Cyclades run.

The handy size vessel has stopped her sailings on the Agios Konstantinos – Sporades line last week, while there are strong rumors that she will be probably sold to Seajets.

PROTEUS was built in Greece in 1974.

Her carrying capacity is for 372 passengers and 110 cars, at a speed of 15 knots.

Photo: Anes Lines

Sep 08
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HSC SUNNYDAY bought by Liberty Lines and to be renamed GABRIELE M

By 2023 Newsletter week 36

The Sicily-based shipping company Liberty Lines has just purchased the HSC SUNNYDAY to be renamed GABRIELE M and set to be deployed most likely on the Strait of Messina.

The Morace family’s ferry company invested some EUR 2 million for buying, transferring and for the next refit works at the HSC Shipyard in Trapani.

The highspeed craft was active in the Caribbean Sea on the regular maritime link between the ports of Grand Bourg and Pointe a Pitre in Guadeloupe.

Photo: Colleen Martin

Sep 01
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Color Group H1 Interim Report

By 2023 Newsletter week 35

Key highlights H1:

  • Group revenue generated totalling €264.0 million, €0.9 million more than H1, 2022.
  • Operating profit generated was €16.2 million, compared to an operating profit of €17.4 million in H1, 2022.
  • EBITDA generated of €49.0 million, €1.7 million more than H1, 2022.
  • Gross cash balances of €35.0 million (31 December 2022: €39.0 million).
  • Net debt at €164.5 million, €6.6 million lower than at the beginning of the year.
  • The Directors have declared an interim dividend of 4.87 cent per share (2022: 4.64 cent) payable on 6 October 2023 to shareholders on the register on 15 September 2023.
  • In May 2023, the Group chartered the OSCAR WILDE cruise ferry (ex Tallink’s STAR) for an initial 20-month period with further extension options. The vessel entered service on the Rosslare – Pembroke route, replacing the BLUE STAR 1.
  • Further investment in environmentally friendly port equipment at Dublin Ferryport Terminals with final commissioning of new heavy plant machinery including a new ship-to-shore crane.

 

Financial summary ICG    
H1 2023 H1 2022 Change %
Revenue €264.0m €263.1m +0.3%
EBITDA*** €49.0m €47.3m +3.6%
Operating profit €16.2m €17.4m -6.9%
Profit before tax €14.0m €15.4m -9.1%
Basic earnings per share 7.50c 8.00c -6.3%
Interim dividend 4.87c 4.64c +5.0%
Net debt*** €164.5m €154.5m +6.5%
Net debt (pre-IFRS 16)*** €116.6m €105.9m +10.1%

“H1, 2023 has been a successful period for Irish Continental Group. We have benefited from the continued normalisation in passenger travel levels post pandemic in all our markets, growth in our Ro-Ro freight carryings and the strengthening of our position on the Dover – Calais route.”

“This continued return of passenger travel alongside the continued support of our freight customers on both our old and new routes resulted in the highest ever revenue levels in the Ferries Division. This has been partially offset by a reduction in revenues in the Container and Terminal Division which has been impacted by a significant drop in container volumes due primarily to a weakness in the deep-sea market. Despite this, the Group reports a record level of revenue in the period of €264.0 million.”

Irish Continental Group Chairman, John B. McGuckian

Volume movements ICG
H1 2023
’000		 H1 2022
’000		 Change %
Cars 229.1 214.2 +7.0%
RoRo freight 348.2 330.2 +5.5%
Containers shipped (teu*) 142.3 169.3 -15.9%
Port lifts 152.5 164.9 -7.5%

Ferries Division

Financial Summary Ferries Division
H1 2023 H1 2022 Change %
Revenue* €179.8m €167.9m 7.10%
EBITDA €33.3m €29.8m 11.70%
Operating profit €5.3m €5.7m -7.00%

* Includes intersegment revenue of €16.7 million (HY 2022: €15.2 million) (FY 2022: €35.3 million)

Click on image to view report