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sandra

Mar 06
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FERRY SHIPPING

By 2020 Newsletter week 10

Heidi Wolden Becomes New CEO of Norled

The board of Norled has appointed Heidi Wolden (50) as the new CEO of Norled (as from 1 May)

Norled is one of Norway’s largest ferry companies. With more than 1,000 employees, the company operates over 80 vessels.

Heidi Wolden was CEO of the construction and housing group Kruse Smith, a position she has held since June 2017. Before that, Wolden had more than 20 years of experience in Equinor.

The move comes after the company was sold last summer from DSD (det Stavangerske Dampskibsselskab) to the Nordic infrastructure fund CapMan Infra and the Canadian company CBRE Caledon Capital Management. Norled’s former CEO Ingvald Løyning is also CEO of DSD, and until recently he held both positions in parallel.

CapMan is an investment and asset management company that seeks active value creation in the portfolio companies as well as real estate and infrastructure investments. In 2019, CapMan had over € 3 billion under management.

CBRE Caledon Capital Management Inc., is a provider of infrastructure and private equity solutions and represents over $ 9 billion on behalf of institutional investors globally.

Mar 06
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Corsica Ferries versus Collectivity of Corsica: No Money Yet

By 2020 Newsletter week 10

In 2017, the Administrative Court of Bastia condemned the Collectivity of Corsica to pay €84.3 million to Corsica Ferries. It is a compensation for the so-called “complementary service”. This was an illegal financial system which was given to SNCM, as compensation for the extra passengers in high season, on top of the DSP contract.

Corsica Ferries’ request to enforce this 2017 judgment was rejected on Monday 2 March 2020 by the Marseille Administrative Court of Appeal.

Compensation will eventually be paid by the Collectivity of Corsica to Corsica Ferries, but apparently the judge decided there was no rush.

Sources: Le Marin, Corse-Matin

Mar 06
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Brittany Ferries Started Service from Rosslare to Bilbao

By 2020 Newsletter week 10

As planned, ropax KERRY set sail for the first time from Rosslare to Bilbao on 28 February.

There will be 2 weekly roundtrips between Rosslare-Bilbao throughout the year, and an additional crossing between Rosslare-Roscoff during high season.

Rosslare-Bilbao replaces Cork-Santander as key freight route to Europe. The change is in response to demand from Irish and continental hauliers.

Brittany Ferries will still use Cork for its passenger service to Roscoff, France. Cruise-ferry PONT-AVEN will serve this route.

Mar 06
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Officially Confirmed: Rauma Marine Constructions and Australian TT-Line Company sign Memorandum of Understanding for Two New Ferries

By 2020 Newsletter week 10

Last week Ferry Shipping News was just in time to publish the news about the Memorandum of Understanding between Rauma Marine Constructions (RMC) and Australian TT-Line Company. Two ropax ferries are going to be built in Finland instead of Flensburg, Germany.

This has now been confirmed by Flensburger, RMC and TT Line Tasmania.

TT Line’s Chairman Michael Grainger said the decision was mutually agreed by TT-Line and FSG.

Alex Gregg-Smith, Managing Director of FSG said, “This decision has been taken with the mutual consent of all parties concerned and is part of our reorientation of FSG as we focus on building high-quality products on time and on budget.”

The vessels will be built at Rauma shipyard and delivered at the end of 2022 and 2023. The vessels set to operate under the brand Spirit of Tasmania will replace the existing vessels, SPIRIT OF TASMANIA I and SPIRIT OF TASMANIA II (ex. SUPERFAST III and SUPERFAST IV), built in Finland in 1998.

The new ferries will accommodate 1,800 passengers and will have an approximate gross tonnage of 48,000. The ferries are set to operate in challenging conditions on the Melbourne, Australia – Devonport, Tasmania route.

Mar 06
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MSC Acquires Toll Shipping’s VICTORIAN RELIANCE

By 2020 Newsletter week 10

A company belonging to Mediterranean Shipping Company bought the 1999-built roro VICTORIAN RELIANCE. The ship is already flying the Portuguese flag (Madeira) and will be renamed JOLLY BLUE.

The name indicates she will be chartered by Ignazio Messina who already operates the sister vessel JOLLY EXPRESS on the Rades (Tunis) – Gioia Tauro (Italy) – Naples (Italy) route.

The roro vessel is on her way to Singapore.

Mar 06
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FERRY FINANCE AND STATISTICS

By 2020 Newsletter week 10

Irish Continental Group plc: Preliminary Statement of Full Year Results

ICG reports a solid financial performance for the year ended 31 December 2019.

Irish Continental Group

+8.2% Revenue

+26.9% EBITDA (pre non-trading items)

+8.2% EBIT (including non-trading items)

  • EBITDA increase of €18.4 million principally due to improved schedule integrity, the introduction of the W.B. YEATS and the implementation of IFRS16.
  • Revenue increased €27.2 million (8.2%) to €357.4 million.
  • B. YEATS cruise ferry delivered in December 2018 and entered service in January 2019.
  • In April 2019, the group entered into a bareboat hire purchase agreement for the sale of the OSCAR WILDE to MSC Mediterranean Shipping Company SA, for a total gross consideration of €28.9 million to be paid in instalments over 6 years. The profit in 2019 from this sale was €14.9 million.
  • Second new cruise ferry investment of €165.2 million ordered in 2018. Contracted for delivery in 2020.

 

Ferries Division

  • +8.3% Revenue
  • +1.8% Operating costs
  • +25.3% EBITDA
  • +7.1% Operating profit
  • +10.4% roro units
  • +2.6% passengers
  • +2.2% car
Mar 06
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FERRY PORTS

By 2020 Newsletter week 10

Climate and Environmental Investment in the Maritime Bridge between Kapellskär and Naantali

Ports of Stockholm has applied for an EU investment grant for a project that will meet customer demands and the needs of the future. It is also an environmental investment that would result in significantly lower emissions of carbon dioxide and air pollutants at the Port of Kapellskär.