All Posts By

sandra

Aug 20
Love0

French Quarantine Plan Is Worst Possible News for Holiday Makers, Says Brittany Ferries

By 2020 Newsletter week 34

780,000 passengers during a normal summer

240,000 passengers were expected in 2020

???,000 passengers after UK Quarantine restrictions for people coming from France

Quarantine restrictions on those holidaying with Brittany Ferries in Normandy and Brittany will heap more pain on an already terrible summer season for the company and its passengers.

“This announcement is dreadful news for Brittany Ferries,” said Christophe Mathieu CEO Brittany Ferries. “It threatens what little remains of an already disastrous summer season. Our only hope is that holiday makers visiting our French destinations follow the stoicism of those who have travelled with us to Spain over the last fortnight. Despite quarantine restrictions on their return to the UK, only around one in five of those who booked have cancelled or changed their travel plans. Of course, what this will mean for future bookings remains to be seen.”

Aug 20
Love0

Brittany Ferries Urges French Government To Drop Reciprocal Quarantine Plans

By 2020 Newsletter week 34

Brittany Ferries says it is lobbying French government at the highest levels to avoid the implementation of reciprocal quarantine measures. In a normal year the company carries about 2.6 million customers, of which 85 percent are British. Any move that might dissuade more Brits to cancel their travel plans would hurt Brittany Ferries and the regions it serves, particularly the tourism sector in Brittany and Normandy.

Aug 20
Love0

Sixth LNG-powered Ship Joins the Baleària Fleet

By 2020 Newsletter week 34

Ropax SICILIA has been refitted and re-engined at the WestSea Viana Yard in Portugal.

  • An LNG tank with a 425m3 capacity has been installed, good for a range of 1,100 nautical miles.
  • The MAN9L48 / 60 engines have been converted into the 9L51 / 60DF dual fuel version.
  • Installation of fuel consumption and emission monitoring system (as on BAHAMA MAMA), subsidised for 50% by CEF Transport funds. this is the first phase of the project for a future fleet control tower that will allow operations and vessels to be managed more efficiently from different aspects, such as safety, preventive maintenance of equipment and commercial efficiency. In 2022, five ships in the fleet will have this monitoring.

Baleària decided already in 2012 to make LNG its main fuel.

Aug 20
Love0

FERRY FINANCE

By 2020 Newsletter week 34

Sharp Deterioration In Viking Line’s Results Due To The Impact Of COVID-19

Sales

  • H1 -57% EUR 97.5 million (227.0)
  • Q2 -82% EUR 22.6 million (131.1)
  • H1 Operating income EUR -27.4 million (-8.8)
  • H1 Net financial items EUR -2.1 million (-2.2)
  • H1 Income before taxes EUR -29.5 million (-11.0).
  • H1 Income after taxes EUR -23.7 million (-8.7).

The ongoing COVID-19 pandemic has caused a serious deterioration in the Group’s operating conditions. Viking Line reacted quickly to the crisis and adjusted operations to the changed market. Salary and other employment benefit expenses decreased during the second quarter. A large percentage of the staff in Finland was furloughed. In Sweden and Estonia, government-funded furloughs were also made use of.

During the period March 19-June 18, the group received aid from Finland’s National Emergency Supply Agency for cargo traffic to ensure the security of supply for four of the Group’s vessels serving the Turku – Långnäs – Stockholm, Mariehamn – Kapellskär and Helsinki – Tallinn routes.

The Group’s three other vessels were not in service at times during the period March – June. Although cargo traffic generated revenue to cover variable costs and a small percentage of fixed costs for each vessel during the second quarter, it did not generate positive operating income for the vessels in service that received aid

Revised Outlook

Change in prospects: The impact of COVID-19 pandemic has continued to cause a deterioration in the Group’s consolidated results and financial position during the peak season as well. Results for Q3, when the most of the Group’s income for the year is generated, will be significantly worse than in previous years due to the COVID-19 pandemic. The earnings outlook for the financial year 2020 has therefore been revised. Income for the full financial year will be negative.

Aug 20
Love0

Fjord1 Q2: Ferries Up, Tourism Down

By 2020 Newsletter week 34

With more new vessels added, and new route contracts, the ferry division of Fjord1 has done a good job with a revenue increase of 14%.

The tourism division (fjord sightseeing etc) was of course affected by the absence of foreign travellers.

Highlights

  • New ferry contracts secured revenue growth of 9% and EBITDA-margin of 33%
  • Ferry and Passenger Boats are shielded by contract structures based on capacity and sailing frequency, not traffic volumes.
  • Continued operating profit for Catering despite revenue reduction
  • Negative results from joint ventures and associates in Tourism due to strict Covid-19 travel restrictions. There was rise in domestic tourism in July.

Ferry Division Q2

+14% Revenue NOK 698 million (612)

+17% EBITDA NOK 227 million (194)

+15% EBIT NOK 112 million (97)

Fjord1 now has 5 “electric” routes

  • Anda-Lote on E39 outside Sandane (GLOPPEFJORD and EIDSFJORD)
  • Krokeide-Hufthammar outside Bergen (MØKSTRAFJORD and HORGEFJORD)
  • Husavik – Sandvikvåg outside Bergen (HUSAVIK)
  • Brekstad-Valset in Trøndelag (VESTRÅTT and AUSTRÅTT)
  • Hareid-Sulesund on Sunnmøre (HADARØY, GISKØY and SULØY)

Renewal programme comprising 25 vessels coming to an end

  • Delivered in Q1: FLORØY, SILDAFJORD, GRIP, BØMLAFJORD and SMØLA
  • Delivered in June: MØRING
  • The last vessel in the current programme was delivered in August
Aug 20
Love0

Aponte Can Smile: Grandi Navi Veloci and SNAV are Back in Black

By 2020 Newsletter week 34

Gianluigi Aponte’s Italian holding Marinvest revealed in its last yearly financial report that both Grandi Navi Veloci and SNAV are back in profit, after some years in red.

In 2019, the Genoa-based ferry company GNV closed with a net profit of almost EUR 1 million, while the previous year the loss amounted to EUR 13.4 million.

Following the outbreak of Covid-19, the results were heavily impacted in the first half of this year and GNV asked for a new EUR 25 million bank loan in line with the “Decreto Liquidità” law approved by the Italian Government (in order to make it possible for the companies to overcome those challenging months).

The Aponte family also injected EUR 17 million in the company, as a potential capital increase for the future if needed.

Also, the Marinvest-controlled ferry company SNAV, today mainly focused on the lines in the Gulf of Naples, between Naples and the Aeolian islands and between Ancona and the Croatian port of Split, last year closed with a profit of almost EUR 1.5 million, coming from a red of almost EUR 550k in 2018.

Aug 20
Love0

FERRY PORTS

By 2020 Newsletter week 34

Peel Ports: The Wheels Are Set in Motion for New Roro Service

Find out how Peel Ports, alongside its strategic partners, worked together to open up new trade opportunities and provide a flexible and adaptable supply chain for the end customer.

In June 2020, Peel Ports introduced a new call at the Port of Liverpool, opening the first pure RoRo service with CLdN in a triangular route between Santander (ES), Liverpool (UK) and Dublin (IE).

Aug 20
Love0

Green Initiatives at the Port of Hirtshals

By 2020 Newsletter week 34

An electricity consumption of around 200,000 fewer kilowatt-hours in the first half of 2020, compared to the same period in 2019, speaks its own clear language. The Port of Hirtshals’ installation of the digital registration and invoicing system ProPower has, in addition to significantly reducing the consumption of the vessels in the port, also meant a reduction in the port’s total electricity consumption of 10%.

Aug 20
Love0

Port of Piraeus: Small Losses and 4th Place Amongst the Top-15 European Ports

By 2020 Newsletter week 34

According to the recent data from Porteconomics.eu, the port of Piraeus is ranked 4th among the top 15 ports in Europe despite the pandemic. In the first semester of 2020, the handling of containers in the largest port of Greece decreased only by 6.2%, compared to 2019. That figure reveals that the largest Greek port shows significantly better yields compared to other ports controlled by the Chinese COSCO as it seems to have withstood the strong shocks of the first wave of the pandemic in March and June.

On the other hand, regardless of the fluctuations of traffic as reflected for the port of Piraeus and the other fourteen ports in the data, Piraeus continues to claim one of the first three places in the ranking and consequently a better position in the world ranking under conditions related to infrastructure, the construction of the 4th pier as well as the railway project.