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sandra

Aug 24
2

Q2/H1 Results Gotlandsbolaget

By | 2024 Newsletter week 34 | No Comments
  • Revenue and Profitability: Revenue for January-June 2024 increased to 989.0 MSEK, with a reduced operating loss of -39.4 MSEK, driven by stronger results in Gotlandstrafiken. (but also negatively affected by establishment costs from the share in Gotland Alandia Cruises). 
  • Strategic Expansion: Gotlandsbolaget acquired DFDS’s Oslo-Copenhagen route, including two cruise ferries and 800 employees, aligning with their growth strategy in passenger shipping. 
  • Operational Highlights: Renewal of the Gotlandstrafiken contract for 2027-2035, with an option for two more years. 
  • Future Outlook: Focus on expanding on-land operations on Gotland and enhancing energy and technology initiatives. 

At the end of June, Gotlandsbolaget secured the contract to operate Gotlandstrafiken from 2027 to 2035, with an option for a two-year extension. The bid, which was competitive across the EU, is based on using a Swedish flag, Swedish crew, and Swedish agreements, with financial and strategic management handled by a Danish subsidiary. If Sweden updates its tonnage tax system, Gotlandsbolaget plans to shift full management responsibilities back to Gotland, pending a government decision by 2025. 

Source: Gotlandsbolaget (in Swedish) 

Aug 24
2

AdonisHR merges with Ripple Operations to Create the Leading Crew Success Platform

By | 2024 Newsletter week 34 | No Comments

Ripple Operations has recently acquired AdonisHR through a strategic partnership with Bleecker Street Group, a global technology holding company.  

Here’s what this means for the customers: 

  • Expanded Solutions and Services: By joining forces with Ripple Operations, AdonisHR is now able to offer a more comprehensive suite of software solutions focused on enhancing crew performance, safety, and operational efficiency.  
  • Accelerated Innovation: With the backing of Bleecker Street Group and Ripple Operations’ extensive resources, AdonisHR is poised to accelerate the development of products and services. This means staying ahead of industry trends and providing solutions that meet the evolving needs of the maritime sector. 
  • Global Reach and Support: Ripple Operations’ global platform and expertise will enable  to expand the reach, offering stronger support and more relevant solutions to maritime organizations worldwide. 
  • Leadership Excellence: Heather Combs will be the new CEO of AdonisHR through Ripple Operations. Heather brings extensive experience in driving strategic growth within the tech sector. Her leadership will be instrumental in pushing the boundaries of crew management and setting new industry standards. 
  • Next-Level Training Solutions: As part of this integration, AdonisHR is transitioning its Adonis LMS module to Ripple Operations MLS, a cutting-edge learning management system specifically designed for the maritime industry.  
Aug 24
2

Finnlines will open a route from Turku to Rostock

By | 2024 Newsletter week 34 | No Comments

With this route, new opportunities will arise for Finnish companies’ imports and exports. 

The schedule of FINNPULP, which operates the Turku–Travemünde–Rostock line, is well-suited for export and import shipments between Finland and Germany. In Travemünde, the vessel will load at 13:00 on Sunday, and in Rostock at 23:00, after which it will depart for Finland, arriving in Turku at 9:00 on Tuesday. The return journey to Germany will start on Friday at 20:00. The vessel will arrive in Travemünde at 7:00 on Sunday and in Rostock at 17:00. 

The first departure under the new route will be from Germany on Sunday, August 25. 

Source: Port of Turku 

Aug 24
2

Zeabuz has signed an LOI with Haugesund Kommune to deliver technology for Norway’s first autonomous city ferry

By | 2024 Newsletter week 34 | No Comments

The Research and Development project by Haugesund Kommune aims to develop a national pilot for an autonomous zero emission city ferry. The test period will initially last for two years, in which the vessel’s autonomy technology will gradually introduce self-driving capabilities and reduction of crew.   

Following the LOI agreement, Zeabuz will deliver the autonomy software onboard, equipping the ferry with the technology needed to safely conduct self-driving operations in complex traffic scenarios. The route will connect the city islands, make the recreational island Vibrandsøy accessible to the public, and is expected to boost local development, business and tourism in the area. To start it will travel between Haugesund Center, Risøy and Vibrandsøy. After the initial two-year test period, Haugesund Kommune intends to expand the route to also cover additional locations such as Karmøy. 

Zeabuz is a spin-off from the leading research community for autonomous vessels at NTNU in Trondheim, renowned for pioneering the world’s first autonomous urban ferry prototypes. 

Source: Zeabuz 

Aug 24
2

Publication: 21st edition of the Irish Maritime Development Office (IMDO) 2023

By | 2024 Newsletter week 34 | No Comments

The 21st edition of the Irish Maritime Development Office (IMDO) 2023 report has been published. Here is a summary of the parts concerning RoRo traffic: 

  • RoRo Traffic Overview (2023): RoRo traffic at Republic of Ireland (ROI) ports decreased by 2%, totaling 1.17 million units. Dublin saw a 4% decline, while Rosslare grew by 9%, achieving a record 204,693 units. 
  • ROI-GB Routes: Experienced a 2% decline, with Dublin and Rosslare both showing decreases. The shift away from the UK Landbridge remains consistent post-Brexit. 
  • ROI-EU Routes: Fell by 2% overall, with Dublin seeing a 9% decline, but Rosslare continued growth due to a service shift from Cork, marking another record year. 
  • Market Shares: Dublin’s market share declined slightly, while Rosslare’s share of ROI-EU traffic increased, reflecting the ongoing shift in trade routes post-Brexit. 
  • The trend between accompanied and unaccompanied RoRo cargo remained stable. Accompanied RoRo traffic, typically involving shorter routes like those to Great Britain, saw a slight decrease, particularly on ROI-GB routes. Unaccompanied RoRo traffic, often used for longer EU routes, maintained its post-Brexit growth trajectory, especially through ports like Rosslare, which saw an increase in direct EU traffic. The shift away from the UK Landbridge continues to influence these patterns, with unaccompanied cargo becoming more prominent on direct EU routes. 

Click on the cover to access the document: 

Aug 24
2

CLdN opens new access gate at Purfleet terminal

By | 2024 Newsletter week 34 | No Comments

CLdN opened the new access gate to its London terminal in Purfleet, UK. This two-year, multimillion-pound project will significantly improve access to the terminal for customers and deliver on commitments with the local authorities to divert terminal traffic away from residential areas.    

The new access to the east of the terminal will significantly reduce traffic along London Road – the road running along the north side of the terminal. The investment included the construction of a new access road and roundabout, new freight access gates (including an automated camera system for checking the condition of trailers) and the improvement of access roads within the terminal. The new access will also enable CLdN to increase capacity at the terminal in line with planning permits.    

Source: CLdN 

Aug 24
2

Artemis Technologies to supply two ferries to Orkney

By | 2024 Newsletter week 34 | No Comments

Delivered through Innovate UK, the UK government has funded Orkney Islands Council (OIC) for £15m as part of Zero Emission Vessel and Infrastructure (ZEVI) fund. 

Artemis Technologies Ltd were selected to supply two next-generation ferries for a 3 year trial period in Orkney. 

Many Orcadians are dependent on ferries as a means of transport between Orkney’s 20 inhabited islands. 

These high-speed and fully electric, vessels, each of which uses an eFoiler® electric propulsion system, will be a welcome addition to Orkney Ferries fleet. 

Source: Orkney Harbours 

Aug 24
1

IMAGE CARDS

By | 2024 Newsletter week 34 | No Comments

The construction of Scandlines‘ zero direct emissions ferry, the E/V Futura, has reached its final phase at the Cemre shipyard. The ferry recently underwent significant work in a floating dock, where its hull and thrusters were cleaned and painted, enhancing its energy efficiency. Precision measurements were also taken to ensure the ferry’s automatic mooring system and charging connections work seamlessly in the ports of Rødby, Denmark, and Puttgarden, Germany.

The E/V Futura is now at the fitting-out quay for the final installations and tests, including the critical Sea Acceptance Tests (SAT). Once these are completed, the ferry will be delivered to Scandlines, with plans to begin operations later in 2024, marking a significant step towards the company’s goal of achieving zero emissions on the Puttgarden-Rødby route by 2030. 

MARIA GRAZIA ONORATO will return to Zeebrugge. She was on charter to CLdN, returned to the Med, left the Moby fleet and has now been renamed LONGSTONE.  

She will be chartered by P&O Ferries (based upon port information).  

She is due in Tilbury for berthing trials on the 25th of August, followed by Zeebrugge on the 26th and Hull for berthing trials on the 27th on River Terminal 1. 

Photo: Mike Louagie 

CLdN’s PEREGRINE is currently operating between Melbourne (Victoria) and Burnie (Tasmania) for StraitLink. She has been chartered to cover refits of other vessels. She has been temporarily reflagged to Australian flag.  

Photo: Mike Louagie 

Åland’s regional government has, on August 22, signed a letter of intent with Finferries regarding the creation of a joint company, with the aim of operating traffic in the Åland archipelago. The parties intend to acquire a joint 50/50 owned company whose name would be “Ålands Skärgårdsrederi Ab” with the marketing name “Axferries”. The company shall be in Mariehamn. 

Photo: Håkan Fagerström, CEO of Finferries, Infrastructure Minister Camilla Gunell and Fredrik Pettersson, head of the Infrastructure Department during the press conference. 

Source: Åland Landskapsregeringen 

Stena Line reports a negative development for this year’s summer traffic between Sweden and Denmark, especially among Swedish, but also Danish passengers. In July, 14 percent fewer passengers travelled between Gothenburg-Fredrikshamn and Halmstad-Grenå compared to the previous year. However, the trend seems to be turning around and Stena Line expects to reach its budget targets in the coming months. 

Source: Stena Line (in Swedish) 

Aug 17
2

DFDS Q2: higher revenues offset by challenging environment

By | 2024 Newsletter week 33 | No Comments

The Q2 results were below expectations in spite of organic growth and increased revenue. 

Trend: Freight Ferry down, Passenger ferry up. 

 Main elements: 

  • Revenue up 9% to DKK 7.6bn 
  • EBIT reduced 28% to DKK 519m 
  • Ferry Q2 EBIT decreased 21% or DKK 133m to DKK 508m driven by lower freight result 
  • Logistics Q2 EBIT decreased 41% or DKK 60m to DKK 85m driven by margin pressures, shift in customer flows, and underperformance in Nordic Cold Chain. 
  • EBITDA decreased 10% or DKK 137m following lower results in both the Ferry Division and the Logistics Division. 
  • Freight Ferry EBITDA down 8% or DKK 60m excluding DKK 54m decrease in oil spread hedging income. Organic decrease driven by rate pressures and adverse cost development 
  • Passenger EBITDA up DKK 25m due to higher volumes and spending in Channel. 

  Comments from CEO Torben Carlsen: 

  • We revised the earnings outlook for 2024 while maintaining the adjusted free cash flow outlook. 
  • The top priorities for the rest of the year are to continue to protect our key ferry market positions and turn Logistics’ earnings trend around. 
  • In parallel with addressing these priorities, we will continue to unlock the value of our expanded network and to move our green transition forward. 
  • We continued in Q2 to protect our strategic Baltic and Channel ferry market positions in market environments with rate pressure from overcapacity and limited volume growth. Our ability to fully pass on cost increases is therefore currently reduced. 
  • We are confident that the short-term protection of our route network will ensure long-term growth and resilience as markets over time move to rebalance supply and demand. 
  • A large part of our Logistics’ network is performing well in the face of a challenging market environment with heightened margin pressure and large shifts in customer flows in our Belgian and Dutch operations. Key focus areas in the rest of the year are to further adapt the cost base to the current pricing environment and to grow volumes organically. 
  • In addition to market impacts, Logistics’ Q2 result was lowered by underperformance of the Nordic Cold Chain business unit. We expect to complete the ongoing turnaround of the Nordic unit by year-end. 
  • Overall, we expect Logistics Division’s Q3 result to remain below 2023 while the Q4 2024 result is expected to exceed 2023. 

Outlook 2024 

  • The EBIT outlook range was lowered to DKK 1.7-2.1bn from previously DKK 2.0-2.4bn following a Q2 result below expectations and continued market headwinds expected for the rest of year.  
  • Revenue growth of 8-11% (unchanged) 
  • The adjusted free cash flow outlook is unchanged around DKK 1.5bn. 

 Green Strategy 2024-2030 

  • 45% reduction in ferry emission intensity. 
  • Six green ferries in operation by the end of 2030. 
  • 75% reduction of land emission intensity. 

 

CLICK IMAGE BELOW TO VIEW POWERPOINT

Aug 17
2

DFDS July volumes: Freight up 9%

By | 2024 Newsletter week 33 | No Comments

Ferry – freight:  

  • Total volumes in July 2024 were 9.4% above 2023 and up 6.3% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023. 
  • North Sea volumes were just above 2023 as volumes between the Continent and the UK picked up offsetting lower automotive volumes. 
  • Mediterranean volumes were in July above 2023 driven by higher volumes between Türkiye and France. 
  • Channel volumes continued in July to be above 2023 as did volumes on the Baltic Sea routes. 
  • For the last twelve months 2024-23, the total transported freight lane metres increased 4.1% to 40.4m from 38.8m in 2023-22. The increase was 2.0% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure. 

Ferry – passenger: 

  • The number of passengers in July 2024 was 40.0% above 2023 and down 3.1% adjusted for the addition of the Strait of Gibraltar routes. 
  • The adjusted decrease was due to lower Channel and Baltic Sea volumes.  
  • The number of cars were 24.7% above 2023 and down 4.4% adjusted for Strait of Gibraltar. 
  • For the last twelve months 2024-23, the total number of passengers increased 30.8% to 5.8m compared to 4.4m for 2023-22. The increase was 6.6% adjusted for Strait of Gibraltar.