The Danish Ministry of Transport announced last week that Molslinjen had won the two tenders for the Alslinjen and Samsølinjen. The very next day, contracts were signed for the construction of two new electric ferries with Cemre Shipyard in Turkey.
Alslinjen’s ferry is to be put into operation by September 2024, while Samsølinjen’s ferry is to have its first trip in January 2025.
DFDS A/S has received a first-time issuer rating of BBB- with stable outlook from Scope Ratings GmbH (Scope). DFDS A/S’ senior unsecured debt was also rated BBB- in line with the issuer rating.
The rating corresponds to an investment grade credit rating. It has been obtained to support and enhance access to capital markets as well as to optimise the financing cost on future bond issuances.
Nordea advised DFDS A/S as Sole Rating Advisor in the credit rating process.
Exactly one year ago (30 August 2021), Gotlandsbolaget’s Hansa Destinations launched its new 18-hour ferry service between Nynäshamn and Rostock.
In May 2022, the service was expanded with daily departures. Interest among passengers has so far exceeded expectations, although the switch of freight traffic from road to sea has been slower than Gotlandsbolaget had hoped.
Corsica Linea announced that its first LNG-powered ro-pax newbuilding named A GALEOTTA has been transferred from the Visentini shipyard in Porto Viro to the dry dock in the port of Trieste. After some final works the new ship will start the sea trials before the final delivery scheduled later this year.
The vessel will have the capacity to accommodate 650 passengers and 2,560 lane meters of freight. Also, the ship will be able to carry 150 cars on a separate deck.
Corsica Linea’s ferries provide year-round services from Marseille, the main trading port in France to the Mediterranean island of Corsica.
Dutch firm Titan will bunker Corsica Linea’s first LNG-powered ropax in Marseille, as part of a deal revealed in January this year. Titan will first provide truck-to-ship operations until its 4,500m3 LNG bunkering vessel KRIOS arrives.
The passenger traffic on the Greece-Cyprus ferry connection proved to be higher than expected. The line, that is currently served by the Japanese-built ferry DALEELA (1991) is seasonal and the demand from both countries is more than encouraging.
According to the Scandro Holding’s executives, more than 6,000 passengers and 2,000 vehicles and motorcycles have been transported until August 24.
By the end of the season it is estimated that an extra 3,000 passengers and 1,000 cars will be added to the total traffic.
The line will close on September 16, until the next summer season. It is subsidized annually with EUR 5.475 million, with a three-year contract and a possible extension for another three years.
In its weekly economic developments report, Alpha Bank highlighted that Greece’s tourism revenue this year is expected to reach 20 billion euros, significantly exceeding the amount generated by tourism in 2019 (18.2 billion euros).
“2022 will probably emerge, according to the data available so far, as a new record year for Greek tourism,” the bank’s analysts said.
On Monday August 29, a fire broke out in a reefer truck on the garage deck 4 of STENA SCANDICA. She was en route from Port of Norvik in Sweden to Port of Ventspils in Latvia, carrying 241 passengers and 58 crew.
The fire was soon extinguished by the crew, but an engine blackout in rough seas initiated an evacuation of the passengers on the ropax. In the evening one engine could be restarted. 25 passengers had already been evacuated, the others could remain on boar.
The vessel continued the journey towards Nynäshamn on its own power, in the company of tugboats and vessels from the Coast Guard. It arrived on Tuesday August30, 11:00, in Nynäshamn.
Swedish port of Ystad has been expanded with two new ferry berths for ships of up to 250 meters. The new facilities have been inaugurated with great festivity on August 29
Port of Ystad is one of the largest ferry ports in Sweden, with excellent connections to the Danish island of Bornholm, Poland and Germany, and further to the growing markets in entire Central and Eastern Europe.
Ystad is already the second largest Swedish port to handle passenger vehicles, the third largest ferry passenger port, and the fifth largest port counting trucks and trailers.
The inauguration was conducted by the Mayor of Ystad, Mrs Paula Nilsson, and the Chairman of the Executive Committee of Region Skåne, Mr Carl-Johan Sonesson.
In an interview with French BFMTV, Brittany Ferries’ chairman Jean-Marc Roué talks about the return of the passengers, and the challenges.
Roué asks French Ministers to fight social dumping, to create rules. “Shipping does not have EU rules as aviation or transportation sectors.”
Financial summary (EUR)
Revenue 263.1m +85.8%
EBITDA 47.3m +272.4%
Operating profit 17.4m (was -10.3m)
Profit before tax 15.4m (was -12.2m)
Volume movements (,000)
Cars 214.2 +618.8%
RoRo freight 330.2 +160.6%
Containers shipped (teu) 169.3 +4.2%
Port lifts 164.9 +0.4%
The performance of the ferries operations in HY 2022 was significantly improved on HY 2021 as travel patterns gradually returned towards pre-pandemic levels after the disruption caused by Covid-19 across 2020 and 2021.
The impact of the Dover – Calais operations, which commenced on 29 June 2021, can also be seen in the result for the period as the service moved to a three vessel operation with the addition of the ISLE OF INISHEER.
Outlook
The trading performance for the year to date across all our business has been strong. Despite significant cost pressures in both divisions, we have managed to maintain and grow profitability. The Group’s cost base has been affected by higher global prices, in particular fuel prices and charter rates. The Group so far has been successful on passing these costs through to customers. It is essential that the Group continues to do so.
The Ferries Division has enjoyed the benefit of a return to more normal travel patterns although Irish Ferries are yet to reach pre-pandemic levels.
Cars volumes increased on the legacy routes by 190.8% versus the same period in the prior year.
Trading in the key summer months of July and August was ahead of expectations.
RoRo freight business, despite the disruption of Brexit has continued to grow. RoRo volume growth on the legacy routes has increased by 12.9% year to date. This has been primarily driven by a return of freight traffic to the landbridge routes at the expense of the direct European routes.
Following the entry of the ISLE OF INISHEER to service on the Dover – Calais route in April 2022, Irish Ferries have been operating a full service with three vessels on the route. Performance on the route continues to match expectations.