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sandra

Feb 10
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French law proposition aimed at combating social dumping on the cross-Channel

By | 2023 Newsletter week 6 | No Comments

Didier Le Gac, the Deputy for the 3rd district of Finistère, is spearheading a bill aimed at combating social dumping in cross-Channel shipping. The bill, which was introduced on Thursday, January 26, 2023, requires all shipping companies to adhere to a minimum wage standard.

Since the sudden termination of nearly 800 English sailors by P&O Ferries in March 2022, and their replacement with lower-paid crewmembers, ship owners and professional representatives have united to form a united front in this effort.

The efforts resulted in a bill that mandates all cross-Channel passenger shipping companies, regardless of flag, to adhere to a minimum wage based on the minimum hourly rate established for the same sector in France.

Read the bill in French on Assemblée-Nationale.fr
Feb 10
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CMAL held a public webinar on the small vessel replacement programme

By | 2023 Newsletter week 6 | No Comments

Scotland. CMAL held a public webinar on 2 February to share a further update on the SVRP feasibility studies. The Small Vessel Replacement Programme aims to achieve a very substantial renewal of the small vessel fleet during the next 10 years.

The meeting slides are available here

https://www.cmassets.co.uk/wp-content/uploads/2021/02/SVRP-Public-Webinar-No-2-Presentation-02-February-2023.pdf

Interview with CalMac CEO Robbie Drummond in Herald Scotland

https://www.heraldscotland.com/business_hq/23298875.calmac-boss-details-truth-behind-ferry-fiasco/

A recording of the online meeting is available to view on YouTube

Feb 10
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MOBY ORLI will join the Moby Lines fleet as from May 25, on the route Genoa-Bastia.

By | 2023 Newsletter week 6 | No Comments

MOBY ORLI is now advertised on the Moby website for the Genoa – Corsica night run, and Corsica – Genoa day run.

From May 2020 to June 2022 the ferry was used as an accommodation vessel near Murmansk in northern Russia. In June 2022 she arrived in the Mediterranean and went straight to Palumbo Shipyard in Messina.

She is the 1988-built OLYMPIA, a sister vessel to Corsica Ferries’ MEGA REGINA (ex MARIELLA. After her career with Viking Line, she had been acquired by Irish Ferries and chartered to P&O Ferries as PRIDE OF BILBAO.

in December 2010 Irish Ferries sold the vessel to St. Peter Line who bought her for a new service between St Petersburg and Stockholm from May 2011.

In 2017 she got a new owner: Moby.

Feb 10
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New CEO for WALLENIUS SOL

By | 2023 Newsletter week 6 | No Comments

Elvir Dzanic, current CEO of Göteborgs Hamn AB, will be the new CEO of WALLENIUS SOL when Ragnar Johansson hands over the baton in the summer of 2023. Ragnar Johansson will step down from his post as CEO of WALLENIUS SOL to focus instead on developing the company’s business.

Feb 10
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Revenue record for Color Line in 2022

By | 2023 Newsletter week 6 | No Comments
  • Revenue NOK 5.8 billion (2.6 billion)
  • EBITDA NOK 1.2 billion (211 million)
  • EBIT NOK 598 million (-386 million)
  • 6 million passengers
  • 190,000 freight units (12-m equivalents)

“It is very gratifying to note that strong demand and high customer values ​​on all our routes have resulted in record sales and a historically good operating result. Despite geopolitical unrest and high energy prices, we experienced a large influx of foreign guests in the winter months, a new record in the important high season and a solid pre-Christmas period,” says CEO Trond Kleivdal.

In 2022, Color Line sold its two oldest ships, COLOR VIKING and COLOR CARRIER.

Operating costs increased because of the energy crisis and the sharp rise in wages and prices in 2022. The shipping company therefore carried out risk-reducing measures in the form of securing fuel and currency, and for 2023 has already secured around 80% of the total fuel requirement.

During 2022, net interest-bearing debt was reduced by NOK 966 million to NOK 4,405 million, while available liquidity at the end of the year was NOK 760 million.

Based on good underlying demand, Color Line expects a result for 2023 in line with 2022.

Photo: Octocopterfilm/Glenn Walmann

Feb 10
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New records for Port of Ystad in 2022 – again!

By | 2023 Newsletter week 6 | No Comments

Port of Ystad has for many years been Sweden’s third largest ferry passenger port and really consolidated its position in 2022.

  • New records for both calls (+1.9%), passenger cars (+6.3%) and passengers (+8.6%) were noted.
  • It is the third year in a row the port’s passenger ferries to Poland and Bornholm are progressing, despite tough times and a protracted pandemic.

“It is of course very gratifying that the port’s investments together with the shipping companies Unity Line, Polferries and Bornholmslinjen are yielding results”, says Björn Boström, CEO of Port of Ystad.

The port opened two new ferry berths in 2021, allowing larger vessels, up to 240 meters length to call the port. The new ferry berths are complementary to the existing ones and the port now has seven ferry berths for passengers, passenger cars, buses and trucks,  one of which is combined also for railway cars.

The new ferry berths also give the opportunity for cruise ships to call. The port is now working for an expansion of the cruise business.

Port of Ystad looks forward with confidence to 2023, among other things, with the arrival of the world’s largest passenger catamaran, the Bornholmslinjens HSC EXPRESS 5, for traffic between Ystad and Bornholm.

Feb 10
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Armas reduces its debt with the entry of investment giants into its shareholding

By | 2023 Newsletter week 6 | No Comments

The shipping company has managed to reduce its liabilities by 526 million euros in a scenario conditioned by rumors of sale

Debt for shares . With this restructuring maneuver , in which giants of the financial and capitalist universe such as JP Morgan, Deutsche Bank, Barings, BlackRock or Cheyne have participated , the Canarian company Naviera Armas has managed to reduce its liabilities by EUR 526 million.

Source: www.atlanticohoy.com (in Spanish)
Feb 10
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DFDS Q4 and full-year 2022 interim report: significant growth delivered

By | 2023 Newsletter week 6 | No Comments
  • Q4 revenue increased 17% to DKK 6.5bn driven by the continued recovery in passenger numbers and spending, as well as price increases for freight services to cover rising energy and other costs.
  • Q4 EBITDA before special items increased 18% to DKK 1,084m.
  • The EBITDA for freight ferry and logistics activities increased 5% to DKK 987m driven by higher logistics earnings as the freight ferry result was at the same level as 2021.
  • The Q4 EBITDA for passenger activities in the Channel, Baltic Sea, and Passenger business units increased to DKK 97m from DKK -20m in 2021.
  • The Q4 passenger EBITDA was 66% above 2019, the latest pre-Covid-19 year.
  • For the full-year, EBITDA before special items increased DKK 1,544m or 45% to DKK 4,955m as the freight ferry and logistics result increased DKK 588m and the passenger result increased DKK 955m.

Outlook 2023

The outlook for EBITDA of DKK 4.5-5.0bn before special items includes continued growth but also assumes a European economic slowdown, negative impacts from the war in Ukraine, and overcapacity on the Channel. Revenue is therefore overall expected to remain at the same level as 2022.

Click here for a detailed outlook on page 10 in the full report
https://www.dfds.com/en/about/investors/reports-and-presentations/q4-report-2022

“2022 turned out to be the best year financially in DFDS history” Torben Carlsen, CEO

Feb 10
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DFDS: Investments are expected to amount to around DKK 1.6bn, excluding acquisitions

By | 2023 Newsletter week 6 | No Comments
  • No purchases of new or second-hand ferries are expected
  • Dockings and ferry upgrades, including energy efficiency projects: DKK 800m
  • Port terminals and other equipment: DKK 400m
  • Cargo carrying equipment and warehouses, mainly related to Logistics Division: DKK 300m
  • Other investments, including digital: DKK 100m
  • An investment of DKK 1.2bn is expected for the acquisition of McBurney Transport Group