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sandra

Nov 25
0

Golden Star Ferries’ ropax ANDROS QUEEN will be introduced April 2023

By | 2022 Newsletter week 47 | No Comments

According to Golden Star Ferries, their latest acquisition ANDROS QUEEN will join the Hellenic Coastal Shipping in April 2023.

The ship was purchased from Japan on March 2022 and is currently undergoing a large-scale conversion into a luxury day ferry at the Perama repair zone.

When ready, ANDROS QUEEN will have a capacity for 1,400 passengers (106 beds) and 380 cars or 70 trucks. Speed 21.5 knots.

The ship will fly the Greek flag in January 2023. She will be introduced on the evening sailings on Rafina-Andros-Tinos-Mykonos, in April.

Photo: Golden Star Ferries

Nov 25
0

WIND SOLUTION beached at Alang for dismantling

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After a 5-year adventure, former WIND SOLUTION (1969/former PRINSESSAN CHRISTINA, SAFE CHRISTINA, STENA NORDICA, EUROPAFARJAN I, LION PRINCE, STENA PRINCE, COMMODORE, PALAU) eventually beached in Alang (India) for dismantling. The ship was purchased from a Greek ferry operator in January 2018 and for the next 4.5 years remained laid up at Neos Molos Drapetsonas.

In May 2022 it she sold for scrap as RAVI.

Photo: Shipbreaking Alang

Nov 25
0

The port of Calais, “project port” for the EES system

By | 2022 Newsletter week 47 | No Comments

The port of Calais has been chosen by the French Ministery of the Interior as the test port for the new European EES (Entry & Exit System), which should come into force in spring 2023. (source: Port of Boulogne Calais on Facebook)

This system, which aims to strengthen the security of the Schengen area and modernise the management of its borders, will require the introduction of biometric controls for any non-EU national crossing the external borders of the Schengen area on entry and exit.

The choice of the Port of Calais was a natural one since EES will apply to nearly 70% of its customers.

A first phase of tests took place in the presence of representatives of the Ministry of the lnterior, the British Home Office, the Port of Dover, the other Channel and North Sea ports (West Channel ports, port of Dunkirk) and, of course, maritime operators.

For 3 days, it was down to the services of the Border Police and the Port to trial under real conditions the process selected, operation of the equipment, and to measure the control times.

The purpose of these tests is to reconcile the application stricto sensu of the border security system and maintain traffic flow. Remember that the port of Calais welcomes about 8 million travellers each year, of whom 75% are of British nationality and now non-EU nationals.

Nov 25
0

Court of Bari recommended sentences for the NORMAN ATLANTIC fire

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The Court of Bari presented their indictment against the owner, operator and crew of the NORMAN ATLANTIC, the ropax ferry that caught fire and burned in the Adriatic on 28 December 2014, with estimated 31 people killed.

After a two-year inquiry, investigating judge Alessandra Piliego concluded that the fire started in the generator of a reefer van.

The hold where the fire started had 40 reefer outlets and 43 reefer trucks, and three of the trucks were running their generators, according to the report – even though this was not permitted underway.

In addition, her team found that the crew activated the firefighting sprinkler system on the wrong deck, with no effect on the fire. Only three out of 19 crewmembers on the muster list had taken up their official listed duties, and some were not aware of their roles after the fact.

“The evacuation operations were all wrong. Proper execution could have saved everyone on board,” prosecutor Federico Capano told a court in the town of Bari on Tuesday (22 Nov 2022). In an indictment, Capano and his colleagues laid out serious charges against the shipowner, the charterer and the vessel’s master.

Carlo Visentini, the head of shipowner Visemar di Navigazione; Yannis Vardinoyannis, owner of Anek Lines; and Capt. Argilio Giacomazzi all face charges of multiple manslaughter, with a recommended sentence of eight years each. Other members of the crew face manslaughter charges in connection with the disaster, but with shorter recommended sentences.

Nov 25
0

Color Group sells ships

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Color Line Transport AS, entered into a memorandum of agreement for the sale of roro COLOR CARRIER with delivery in December 2022-January 2023. Buyer unknown.

Ex FINNCARRIER – CARRIER – BIRKA CARRIER – UNITED CARRIER – built 1998 – Length 154m

COLOR VIKING is also for sale. The ropax is now in drydock in Odense.

ONS Ship Finance, an associated company owned 38.6% by Color Group AS, has also entered into a conditional Memorandum of Agreement to sell the research vessel EDDA SUN. The sale is expected to be completed in Q1 2023.

Nov 18
0

Attica Group: Q3 2022

By | 2022 Newsletter week 46 | No Comments

Key Financial Figures (in EUR)

Revenue

Q3= 220.17mln = +48.45%

9M= 421.61mln = +55.86%

EBITDA

Q3= 62.33mln (47.11mln in the corresponding 2021 period)

9M= 52.73mln (42.74mln in the corresponding 2021 periods)

EBIT

Q3= 49.09mln (33.34mln in the corresponding 2021 period)

9M= 14.62mln (4.31mln in the corresponding 2021 period)

Consolidated Profit after taxes

Q3= 60.70mln (profit after taxes of 32.74mln in the corresponding 2021 period)

9M= 30.16mln (loss after taxes of 1.31mln in the corresponding 2021 period)

Outlook

For the forthcoming months of 2022, which constitute months of low traffic, the Group’s traffic volumes are expected to be at pre Covid-19 levels.

Others

The Group holds adequate liquidity with its cash and cash equivalents standing at Euro 75.67mln on 30.09.2022 compared to Euro 97.36mln as at 31.12.2021. Moreover, on 30.09.2022 the Group maintains undrawn credit lines amounting to Euro 15mln.

In October 2022, the Company has entered into bilateral credit facilities with three Greek credit institutions for a total amount of Euro 210mln and tenors from five to seven years, successfully concluding the long-term refinancing of all Group’s credit facilities maturing in 2022- 2023. The above agreements result in the reduction of the average interest rate margin of the Group.

Moreover, ICAP S.A., pursuant to its regular reassessment of the Company, upgraded its credit rating by one (1) notch by assigning it a ΑΑ credit rating (low credit risk zone).

Nov 18
0

DFDS Q3 2022: outlook raised by strong Q3

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  • Q3 EBITDA up 88% to DKK 1.59bn
  • Higher earnings in all business units
  • Passenger earnings 11% above 2019 (pre-Covid-19)
  • Financial leverage of 2.9x back in target range
  • Full-year EBITDA outlook raised to DKK 4.8-5.0bn

Group revenue increased 64% to DKK 7.2bn 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. Revenue was also increased by the acquisitions of HSF Logistics Group in September 2021 and ICT Logistics in January 2022.

Total EBITDA before special items increased 88% to DKK 1,591m.

The EBITDA for freight ferry and logistics activities increased 28% to DKK 1,036m driven by higher earnings in all business units except for Channel.

Oil price increases were covered by the contractual pass-through clauses for ferry services.

Cost coverage for logistics services improved in Q3 on the back of initiatives taken in previous quarters.

The Q3 EBITDA for passenger activities in the Channel, Baltic Sea, and Passenger business units increased to DKK 569m from DKK 52m in 2021.

The continued recovery in passenger travel improved earnings in all three business units.

Outlook 2022

The outlook for EBITDA before special items is raised to DKK 4.8-5.0bn following a strong Q3 result and steady demand in both freight and passenger markets (previously DKK 4.4-4.8bn, 2021: DKK 3.4bn).

Revenue is expected to grow by around 45% compared to 2021 (previously around 40%). The outlook is detailed on page 10 in the full report.

Nov 18
0

DFDS October volumes: mixed growth picture

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RoRo:

  • Volumes were lower across northern Europe while Mediterranean volumes continued to grow. Total volumes in October 2022 were 9.0% below 2021.
  • North Sea volumes were below 2021 due to continued automotive production stops caused by shortages of parts. Labour strikes in the Felixstowe port also reduced volumes.
  • Mediterranean’s volume growth rate picked up again in October following a dip in the growth rate in Q3.
  • Channel’s volumes were significantly below 2021 due to a continued decrease in total market volumes and the addition of capacity by Irish Ferries.
  • Baltic Sea’s volumes were below 2021 due to the war in Ukraine, although the percentage decrease was the lowest recorded in 2022.
  • For the last twelve months 2022-21, the total transported freight lane metres decreased 1.7% to 42.8m from 43.5m in 2021-20.

Pax:

  • The number of passengers continued to recover and increased 172% to 332k equal to 84% of volumes in October 2019, the latest comparable month pre-Covid-19.
  • The number of cars equalled 85% of volumes in 2019.
  • For the last twelve months 2022-21, the total number of passengers was 3.5m compared to 0.8m in 2021-20 and 5.1m in 2019.