All Posts By

sandra

Nov 30
Love0

TECHNOLOGY

By 2018 Newsletter week 48

Global Eagle Entertainment Wins Luxury Cruise Contract

Global Eagle Entertainment Inc. has been selected by French luxury expedition cruise company Ponant to provide new technology, entertainment and television for its entire fleet, including the five vessels still under construction.

“PONANT customers demand the best amenities on board and we are proud to be a valued partner that helps to enrich time during each voyage,” said Global Eagle Senior VP Maritime Ole Sivertsen. “As each new ship goes to sea, it will have the newest technology and premium entertainment to ensure great experiences on board.”

Global Eagle delivers more than 10,000 terabytes of content annually to more than 1,000 sea vessels and more than 1 billion passengers. The company is among the world’s largest providers of connectivity-driven content to cruise lines, ferries, commercial shipping and airlines, with customers including NCL Cruise Line, Disney Cruise Line and P&O Ferries.

Nov 30
Love0

IN THE MEDIA

By 2018 Newsletter week 48

Two Strategic Partners Interested In Uljanik Shipyard

Croatian minister of economy Darko Horvat said that currently two serious strategic partners were interested in Uljanik’s Pula shipyard: Fincantieri and Ukraine Smart Holding Group.

The clock is ticking for the yard: by mid-December an automatic launch of a bankruptcy procedure will be activated, when the 120-day deadline expires. The minister believes a bankruptcy can be avoided.

Brodosplit might also be interested in investing in the ailing Uljanik Rijeka shipyard, eventually together with Fincantieri.

Nov 30
Love0

First The Integration Of HSW In Attica Group, Then More Negotiations About A Sale

By 2018 Newsletter week 48

Unfortunately in Greek, this article gives some insight into the recent discussions about the possible sale from Attica to Fortress. Some highlights:

Any discussions about the future sale of Attica Group have been frozen for the time being and are expected to restart in the first quarter of 2019.

Now the priority is to finalize the absorption of Hellenic Seaways. In November all ferry companies are obliged by law to submit the ferry routes for next year.

A potential buyer needs to understand what he is buying, and that is only possible when the integration of HSW in the route network becomes clear.

According to the Competition Commission’s, the Attica Group needs to free up space for competition, if it is having a monopoly position on one of the routes.

For example, if a competitor declares to the Competition Commission that he wishes to launch a ship on the same route, then Attica will have to decommission one of the two ships operating there.

For the scenario involving the Grimaldi Group, financial analysts believe that Emanuele Grimaldi will not enter Attica. They believe he just wants Attica to “clean up” the coastal shipping market in order to have pure business logic schemes. For that reason, Emanuele Grimaldi has occasionally described the Attica Group as “one of the best companies in the industry, along with P & O and Stena.”

  • Piraeus Bank holds 31.2% of MIG, which is MIG’s parent of Attica Group, holding 89.38% of its shares. Attica Group owns Superfast Ferries, Blue Star Ferries and HSW. Also, part of the Attica Group’s lending belongs to the Fortress investment group, which has the right to convert Attica’s bond loans into shares.
  • Piraeus Bank holds 24.18% of ANEK, which is one of the three poles of Greek coastal shipping. It indirectly holds another similar percentage of ANEK together with other banks through pledge on pledge. Also, Piraeus Bank together with other banks converted ANEK’s borrowings into convertible bonds, so it potentially holds another percentage of the company.
  • ANEK cooperates with Superfast Ferries on the Adriatic and Crete routes through a consortium.
  • Piraeus Bank, like all Greek banks, has signed a three-year agreement with the European Commission’s Directorate-General for Competition to agree that within three years they must have sold all their shares in activities that are not related to banking, such as equity, real estate, insurance, hotels, etc. Sales must be completed by the end of 2018.
  • Based on this agreement, the Bank will also have to sell its holdings in the shipping companies. This process began with HSW and will reasonably be followed by Attica Group and ANEK.
  • The Grimaldi Group fully controls Minoan Lines.
Nov 30
Love0

SHORT NEWS

By 2018 Newsletter week 48

Baleària’s MARIE CURIE is afloat

Cantiere Navale Visentini has launched MARIE CURIE, the second LNG ro-pax for Baleària. Practically all of its structure has been completed. At present 50% of the construction has been exceeded. In addition, both engines and LNG tanks and main equipment are already on board.

HYPATÍA DE ALEJANDRÍA will start operating at the beginning of next year, and the MARIE CURIE a few months later.

  • The Madeira Legislative Assembly is asking the Portuguese Government for a ro-pax service between Lisbon and Funchal, throughout the year, and not only in summer.
Nov 22
Love0

FERRY SHIPPING

By 2018 Newsletter week 47

Rebranding Of Brittany Ferries

Brittany Ferries is adding a splash of colour to its ships, with a bright new logo in striking shades of blue, orange and green. The new design, which comes with a more modern, warm and lyrical typeface, will be applied to each ship during refit, and will eventually be emblazoned on the side of every vessel’s hull and funnel.

The design reflects the “fullness of the Brittany Ferries experience”: the richness of travel by sea, the warmth of the welcome ashore and on board, and the spirit of discovery for some of Western Europe’s most beautiful holiday destinations.

The new visual identity comes as part of a multi-million euro investment to make Brittany Ferries fit for the future. Three brand new ships are currently under construction and due to join the fleet in 2019, 2021 and 2022.

A wide-ranging digital transformation programme is also underway, aimed at enhancing every aspect of the customer experience from researching to booking, checking-in, sailing, holidaying and returning home.

Logo: from oldest logo to newest (on top)

Nov 22
Love0

Revival Of Elbe Ferry In The Making

By 2018 Newsletter week 47

The ferry service Brunsbüttel-Cuxhaven was stopped one year ago. Now a revival is in the pipeline with shipowner Heinrich Ahlers and two other partners.

Plan is to restart the operations in April 2019 as Elbeferry GmbH with only one chartered ferry, which would be larger and faster than the previous Saaremaa vessels. One larger, faster ship would be more viable.

Nov 22
Love0

Ulstein Verft Started The Completion Of COLOR HYBRID

By 2018 Newsletter week 47

On Thursday, 15 November, Color Line and Ulstein Verft marked the construction start-up on the world’s largest plug-in hybrid ship, the COLOR HYBRID.

The Polish-built hull has been placed in the dock hall, and workers are now busy with the ship’s completion before hand-over next summer.

The ferry is a good example of the interaction in the maritime cluster. The yard has contracted the sub-suppliers to this project, of which about 70 per cent are local. The Ålesund area is famous for its many maritime companies.

About 100 of the suppliers are Norwegian. The ship has been designed by Fosen Yard.COLOR HYBRID will be servicing Sandefjord-Strömstad from summer 2019.

Photo: Gunvor Ulstein (CEO Ulstein), Trond Kleivdal (CEO Color Line), Jan Helge Pile (director technical maritime operations Color Line)

Nov 22
Love0

FERRY PORTS

By 2018 Newsletter week 47

DFDS Extends Vlaardingen Terminal By 92,000 m2           

650 trailers. This is the extra number of trailers, which DFDS will be able to accommodate at the Vlaardingen terminal when it adds the recently acquired Rotterdam Bulk Terminal’s 92,000 m2 to the current space.

The acquisition has been negotiated since 2016 and became reality on Monday 12 November when SVP Kell Robdrup signed the contract that moves the ownership to DFDS.

The work to remove the current structures and buildings have started and the terminal expects to starts using a part of the new area in April 2019. The rest will be taken in use during May 2020.

Photo below: Kell Robdrup and Hans Nagtegaal (Director Containers Port of Rotterdam) sign the sale and purchase agreement.

Nov 22
Love0

FINANCE

By 2018 Newsletter week 47

Fjord1’s Third Quarter Is Strong And Stable

  • Fjord1 can look back on a period of good and stable operations.
  • New contract with the Møre og Romsdal County Municipality. “Romsdalspakken” involves the operation of four connections in Romsdal for a period of 14 years. The value of the contract is about two billion NOK.
  • Opening of first land-based Ferdamat café (instead of onboard).
  • Key figures (in NOK thousands)

+8.2% Total Revenue 824,458

+2.3% Operating Expenses 483,304

+17.5% EBITDA 355,245

+18.1% EBIT 278,391

+12% Pre-tax Profit 249,642