Turnover increase by 29,3% – New all-time record in revenue and profitability, generating an ever-increasing direct benefit to the surrounding municipalities
Gotlandsbolaget is launching its Gotland Hydrocat ferry concept, the world’s first large-scale, high-speed catamaran powered by fossil-free hydrogen.
This is the second vessel in the Horizon Series – Gotland Company’s concept for next-generation vessels.
The vessels are designed to be powered by fossil-free hydrogen. However, both vessels have a multi-fuel solution which allows them to be run on other fossil-free fuels with a relatively simple adjustment.
The work on developing all the necessary technology continues, and the ambition is to order Gotland Hydrocat by 2025 and have it in service by 2030.
Gotland Company has developed the model and the design of Gotland Hydrocat in partnership with Austal.
- Corsica Ferries’ newest acquisition —the 1988-built AMORELLA from Viking Line— has arrived in Genoa.
- Reported sales price is EUR 19.1 million.
- Book value as of 30 June 2022 EUR 3.2 million.
- Length 170m, pax 2,480 and lane metres 970
- The vessel, soon to be renamed MEGA VICTORIA, will be repainted by Zincaf Ship Repair Yard in Genoa. She follows the former MARIELLA (renamed MEGA REGINA) bought last year from Viking Line too.
The charter of Moby Group’s roro GIUSEPPE LUCCHESI has begun. Cotunav started to operate her between Rades and Italy (12+12 months).
Moby Group, with only one roro left after all others have been successfully chartered out, is in the meanwhile looking forward to the delivery of the new ropaxes. The first is soon to be delivered by GSI SHIPYARD in China, adding freight capacity.
The construction of two new ferries for Islay is officially underway after the first piece of steel was cut on 3 October 2022).
The steel-cutting ceremony took place at Cemre Marin Endustri shipyard in Turkey, where the two vessels are being built for Caledonian Maritime Assets Ltd (CMAL).
94.8m | 450 passengers | 100 cars or 14 commercial vehicles
The Islay vessels form part of a 10-year programme of investment by CMAL, backed by £580 million from the Scottish Government for five years from 2021 to 2026. Plans will deliver 21 new vessels for the fleet and multi-million-pound upgrade of harbour infrastructure over the next decade. Further multi-million-pound investment will be needed to fund plans from 2026 onwards.
CargoBeamer wrote history by successfully running the first ever train with trailers between Marseille and Calais. The train serves as the first successful railway line for unaccompanied transport of craneable and non-craneable semi-trailers on rail, a field CargoBeamer is specialized in. Travelling from the Port of Marseille Fos to the CargoBeamer-Terminal in Calais, the service enabled 28 units to be transported on sustainable rail instead of the road.
- The first of two new RoPaxes will start operating on the Naantali–Långnäs–Kapellskär route in autumn 2023.
- The vessels are part of a EUR 500 million investment programme.
- FINNSIRIUS and FINNCANOPUS will significantly enhance the company’s passenger experience. Both vessels will have a capacity of 1,100 passengers, which is about twice the capacity of existing vessels on the route. The cargo capacity will increase from just over 4,000 lane metres in the current vessels to 5,200 lane metres.
- The new vessels will feature high-quality restaurants, a sauna and spa section, business and lounge facilities, extensive shopping areas and a variety of other services. A lot of the processes will be digitalised, and self-service kiosks will make it easy to handle things on board the paperless ships.
“Superstar RoPaxes will be larger than the existing Star class and they will be Finnlines’ flagships both in terms of size and technology,” says Antonio Raimo, Line Manager at Finnlines.
Attica Holdings S.A. announced that the Group has entered into bilateral credit facilities with three Greek credit institutions for a total amount of EUR 210 million and tenors from five to seven years, successfully concluding the long-term refinancing of all Group’s credit facilities maturing in 2022-2023.
Consolidated (in EUR)
- Revenue 201.45m (122.19m in H1, 2021) Following the lifting of the state imposed reduced capacity protocol for transporting passengers by vessels since March 2022, Group revenue increased by 65% as compared to the 1st half of 2021, indicating the gradual normalization of the Group’s operations to pre Covid 19 levels.
- Losses before taxes, investing and financial results, depreciation and amortization (EBITDA) of 9.61m (4.38m).
- Losses after taxes 30.54m (consolidated losses after taxes of 34.05m in H1, 2021)
- The increase in traffic volumes, and therefore in the Group revenue, was offset by the prolonged increased price of fuel (the average price of fuel oil consumed in H1, 2022 increased by 99% compared to H1, 2021), resulting in the increase of the Group’s operating costs.
- Fuel price hedging transactions, conducted for part of the fuel consumption of the Group’s vessels pursuant to the Group’s hedging policy, contributed by 12.8m to the reduction of the Group consolidated losses compared to H1, 2021.
- Group’s cash and cash equivalents stood at 67.88m (97.36m on 31.12.2021).
- The total debt of the Group amounted to 467.42m (481.59m on 31.12.2021).
Traffic volumes (compared to H1, 2021)
+108% passengers
+56% private vehicles
+16% freight units
+54% number of sailings
Agreement with creditors and shareholders of ANEK
On 21.9.2022, the Company announced that an agreement was reached with the largest creditors of ANEK S.A., as well as with ANEK shareholders representing 57.70% of the total share capital of ANEK.
The agreement provides for:
- a) the merger by absorption of ANEK by the Company at an exchange ratio of 1 common or preference share of ANEK to 0.1217 new common registered shares of ATTICA and
- b) the payment by the post-merger entity of the amount of EUR 80,000,000 in full and complete repayment of ANEK’s loan obligations to the above creditors (outstanding capital in an amount of EUR 236,419,251.23 plus total outstanding interest accrued on the date of completion of the intended transaction).
The agreement was executed on 23.9.2022.
The merger of ANEK with Attica Group will lead to the formation of a new shipping giant in Greece. It will operate 45 ferries on all the main Greece and Italy lines.
With the specific agreement a significant write-off of the ANEK’s’ debts by EUR 156,4 million was decided. Attica Group will only pay EUR 80 million from the total of EUR 236,4 million.
After the completion of the agreement, which is expected by March 2023, Attica group will control four companies in Greece: Superfast Ferries, Blue Star Ferries, Hellenic Seaways and ANEK Lines.
Attica Group also operates in the Western Mediterranean with a 49% stake in Africa Morocco Line.