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sandra

Nov 14
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FERRY FINANCE

By 2019 Newsletter week 46

Q3 in brief:

  • Q3 EBITDA on level with 2018 despite UK slowdown. This slowdown in trade between UK and continental Europe continued through Q3 and lowered freight volumes on the North Sea ferry routes and passenger volumes on the Channel.
  • Logistics Division increased EBITDA 15% in Q3 as contract logistics in UK & Ireland and other activities across the division performed well despite of the UK slowdown.
  • The Channel freight market share was increased in Q3.
  • Mediterranean’s revenue growth continued but earnings were held back by a rise in costs due to operational challenges. A simplified route and port terminal structure was introduced in Mediterranean at the start of Q4.

+2.0% Revenue DKK 4.5bn

-0.2%  EBITDA DKK 1.2bn

+4.0% Profit before tax DKK 647m

Outlook 2019

Due to the ongoing European slowdown, expected revenue growth is now around 6% (previously: 6-8%). To reflect a reduced risk of a no-deal Brexit occurring in 2019, the outlook range for EBITDA before special items is narrowed to DKK 3.55-3.75bn (previously: DKK 3.5-3.8bn).

Nov 14
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Tallink Grupp Reports Record-Breaking Q3

By 2019 Newsletter week 46

The record-breaking quarter is the result of the group carrying and serving record numbers of passengers in July and August and strong onboard and onshore sales.

  • Net profit was €54.6 million (46.1 million in Q3 2018), which is the highest ever net profit for the group for Q3.
  • EBITDA increased by €12.1 million to €83.2 million.
  • Revenue increased by 1.5% to a total of €287.8 million.

First 9 months 

  • €44.2 million net profit, which is a 2.4 million (5.8%) increase.
  • Revenue decreased by 0.1% and was €722.7 million.
  • EBITDA increased by almost €19 million (€137.7 million).

The financial result of the first nine months of 2019 was positively impacted by the very strong third quarter, but negatively impacted by the docking of seven of the company’s vessels in the first half of the year.

Nov 14
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Ten Nordic Ports For A Sustainable Future

By 2019 Newsletter week 46

Ten ports in the Nordic Region have agreed upon a declaration focusing on sustainable port management. The joint declaration shows a regional commitment to collaborate on environmental challenges related to UN’s Sustainable Development Goals (SDGs).

The 10 ports have put forward a declaration emphasising the importance of sharing knowledge, information and best practices on different environmental topics such as energy use and pollution to optimize sustainable port management.

“Sustainable development is a considerable challenge – but also a development which holds great potential and opportunities. Responsible business demands innovative ways of thinking and new ways of working. In order to accelerate solutions on sustainable matters, we need to create strong partnerships. This declaration signals a strong commitment among some of the largest ports in the Nordic Region to act collectively”, says Barbara Scheel Agersnap, CEO at Copenhagen Malmö Port AB.

Nov 14
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The Final Pieces Of The Puzzle For The New Stockholm Norvik Port

By 2019 Newsletter week 46

The Stockholm Norvik Port is the biggest port to be built in Sweden in more than a century, and it is the first time that Ports of Stockholm has built an entirely new freight port from the ground up. The new port will be one of the largest in the Baltic Sea, with capacity for both roro vessels and container ships.

Ports of Stockholm will hand over the keys to Hutchison Ports in November, and the first container vessel is planned to arrive in May 2020.

A little later, in September 2020, Ports of Stockholm will open a new roro-terminal. Interest is great, not least because of the growing freight volumes at both Nynäshamn and Kapellskär. An example of this is traffic to and from Poland, which increased by as much as 70 percent last year.

Nov 14
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Algeciras Port Authority Fined The Polluting Ferries

By 2019 Newsletter week 46

The Port Authority of Algeciras imposed fines -following complaints by the environmental organization AGADEN- on the polluting ferries operating the Algeciras-Tanger Med line during MARHABA 2019. According to the Organization’s data, the ships that have been imposed fines due to harmful emissions are Intershipping’s GALAXY (1979) and MED STAR (1986), AML’s MOROCCO SUN (1980)(which is already in Perama (Greece) for engine repairs and upgrades), Trasmediterranea’s LAS PALMAS DE GRAN CANARIA (1993) and Balearia’s HSC JAUME III (1996).

AGADEN urges the Algeciras Port Authority to proceed immediately with a plan aimed to the drastic reduction of the harmful emissions released by the operating ferries. Among other things, it proposes the creation of a shore power infrastructure.

Nov 14
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Port Of Olbia RoPax Terminal: Moby And Grimaldi Group Interested

By 2019 Newsletter week 46

Although no offers were officially sent to the port authority of the Sardinian Sea before the deadline of 4 November, at least two group are interested in operating the ropax terminal in the Port of Olbia.
Moby group officially said to have submitted a project finance in the last few days and also Grimaldi Group is expected to do have done the same.

Last June, the Port Network Authority of the Sardinian Sea announced that it intends to select a private partner for the management of the ropax terminal, passenger services, parking areas, and support services to road transport and to the users of the commercial area in the port of Olbia.

As of today, the ferry terminal is managed by Sinergest, subsidiary of Moby group, and the concession (which expired last year) was and will be extended until the end of 2019.