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sandra

Feb 25
Love1

Two Tenders For Maritime Continuity Between Italy Mainland And Islands Launched

By 2021 Newsletter week 8

Italy’s transport ministry has just launched two separate tenders for the next cycle of the maritime continuity with the islands.

Tender for:

  1. The regular link between the Sardinian ports of Arbatax, Olbia and Civitavecchia which will have to be served for five years with two ro-pax ships. Tender price is EUR 83 million.
  2. The regular link between the port of Termoli and the Tremiti islands for the next three years: in this case tender price is EUR 20 million and one high-speed vessel is required.

Deadline for submitting the offers is April 20.

Feb 25
Love1

Tension Between Moby And The Ad Hoc Group Of Bondholders

By 2021 Newsletter week 8

As the expiring date of March 28 for submitting the debt restructuring proposal is rapidly approaching, tensions are increasing between Moby and its bondholders.

Last week, news provider Reorg Research reported that the “ad hoc group” controlling 50% of the bonds issued by the Onorato-lead ferry company had sent a counterproposal in response to the Italian shipping company’s latest draft restructuring plan. “The bondholders are focusing on the size of the investment from Moby’s new potential partner Europa Investimenti, which is deemed to be too low. They also believe that the targeted returns on investment for Europa Investimenti are too high and not at market rates” sources said.

Another source of concern for the ad hoc group is Moby’s future governance, which according to the company’s plan, should remain in the hands of the Onorato family.

Feb 25
Love1

Victory For Corsica Ferries, At Last

By 2021 Newsletter week 8

The Administrative Court of Appeal of Marseille condemns the Territorial Collectivity of Corsica to pay Corsica Ferries France the sum of €86.3 million in compensation for the damage it suffered as a result of the illegal subsidy provided by the Collectivity to SNCM.

This subsidy was given for the ferry service provided by SNCM and CMN between the Port of Marseille and Corsica, in the period between July 2007 and December 2013.

On top of the payments for the public service contract, the alliance SNCM/CMN received 40 million per year for the so-called additional service for the transport of passengers during peak periods.

The European Commission considered in 2013, that the financial compensation paid by

Corsica under this additional service were incompatible with the freedom of competition in the internal market. In 2014 the Commission ordered the refund of this illegal subsidy.

After endless legal fights, Corsica Ferries has finally obtained a favourable decision.

Feb 25
Love6

Safe Restart Funding Helps BC Ferries Address COVID-19 Impacts

By 2021 Newsletter week 8

Q3

-39.6% or 2.9 million passengers

-22.3% or 1.6 million vehicles

Year-to-date

-42.1% or 10.6 million passengers

-26.9% or 5.3 million vehicles

The effects of COVID-19 have negatively impacted BC Ferries’ traffic and revenues over the current year. This trend is expected to continue in the near term as the province recovers from the effects of the pandemic.

In December 2020, BC Ferries received $308 million from the Safe Restart Program, a federal-provincial initiative.

BC Ferries applied nine months’ worth of Safe Restart funding, or $154.8 million, to Q3 revenues. Without this relief, the net loss for the three months ended December 31, 2020 would have been $56.4 million.

As a result of the funding, BC Ferries recorded net earnings of $98.4 million for the three months ended December 31, 2020, compared to a net loss of $8.3 million in the same quarter in the prior year.

On a year-to-date basis, BC Ferries’ net earnings were $74.3 million to December 31, 2020. Without federal-provincial Safe Restart funding, the company would have had a net loss of $80.5 million, compared to net earnings of $98.9 million in the same period in the prior year.

Feb 25
Love3

Seven New Ferries For Scotland

By 2021 Newsletter week 8

Caledonian Maritime Assets Ltd, in partnership with Transport Scotland and CalMac, is commencing a major programme to replace up to seven small ‘loch class’ vessels serving the Clyde and Hebrides Ferry Services network.

The programme timeline has not been finalised, but it is expected the procurement process for the replacement vessels will begin within the next 12 months.

The vessels to be potentially replaced include LOCH STRIVEN, LOCH RIDDON, LOCH RANZA, LOCH DUNVEGAN, LOCH FYNE, LOCH TARBERT and LOCH LINNHE.

Feb 25
Love1

The Year Was A Real Challenge For Wasaline

By 2021 Newsletter week 8

Due to Covid-19 the turnover decreased during the year with 46.4%.

The passenger turnover decreased by 71.8% and passenger volume by 72%.

Turnover for the cargo traffic increased with 7.5% and cargo volume increased with 6.6%.

The operating result decreased with 133% = €-745,000 (€2,114,000)

  • Passengers: 57,415 (204,704)
  • Cars: 14,532 (46,312)
  • Cargo units: 16,969 (15,913)
  • Departures: 816 (826)

The pandemic will strongly affect Wasalines result also in 2021.

Restrictions are expected to continue during the year.

During the year the newbuilding project with AURORA BOTNIA has proceeded according to the plan at RMC, Rauma and will continue intensively until the delivery expected in April-May 2021. There is a risk of delay in the delivery, though, due to the Covid-19.

Feb 25
Love2

PORT NEWS

By 2021 Newsletter week 8

COSCO Urges For Further Investments In Piraeus Port

According to a recent report:

  • COSCO Shipping served in total 26.7 million TEU worldwide
  • Traffic increased by 1.8% compared to 2019
  • COSCO is concerned about the fact that ports that were far behind Piraeus still competing. A typical example is the port of Tangier, which served 5.7 million TEU, operating three piers. Investments are being made in order to increase capacity to 9 million TEU.
  • COSCO is concerned because the Greek Government does not approve the construction of Pier IV that will increase the port’s capacity to 10 million TEU.
  • If Pier IV is not built, then Piraeus Port will lose customers as well as its geostrategic footprint.
Feb 25
Love1

DFDS: Two Mega RoRo Ferries On Belgium – Sweden

By 2021 Newsletter week 8

Since Saturday, February 20, mega freight ferry HUMBRIA SEAWAYS replaces BEGONIA SEAWAYS on Göteborg – Gent.
According to route operations manager Alain De Brauwer, this means 320 more trailers per week in each direction.

The route is now operated by HUMBRIA, FREESIA and PRIMULA SEAWAYS, with six calls per week in total.

DFDS also operates sister vessel FLANDRIA SEAWAYS on Göteborg – Zeebrugge, in cooperation with CLdN. The two companies have a space share agreement.