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sandra

Mar 22
1

Color Line 2023: Record Year

By | 2024 newsletter week 12 | No Comments

In 2023, Color Line reported the best earnings in its history, powered by high demand, stable production, and increasingly more cost-effective operations. This provides a solid point of departure for further commercial development and the green transition in the coming years.

+EBITDA NOK 1.4 billion (NOK 1.2 billion in 2022)

+EBIT NOK 819 million (NOK 598 million in 2022)

3.5 million pax (3.6)

180k freight units (190k)

In 2023, Color Line sailed with a fleet consisting of five ships of four international routes between Norway, Denmark, Sweden and Germany, after selling RoPax Color Viking and RoRo Color Carrier towards the end of 2022.

Outlook and focus:

  • Green transition, including adapting operations to the phasing in of the EU ETS.
  • Further developing its digital systems and capabilities
  • Increased cyber security through cloud-based solutions
  • Color Line is experiencing good demand in 2024, and expects a high season in line with 2023.

“In the coming years, the maritime sector will go through both the green shift and the digital transformation. However, Norwegian shipping is experiencing a gradual weakening of its framework conditions, which challenges the industry’s ability to adapt,” says CEO Trond Kleivdal.

Click on image below for report

Mar 22
1

Gotlandsbolaget: 2023 marked by economic recovery

By | 2024 newsletter week 12 | No Comments
  • Entered 2023 with historic loss but made necessary decisions in 2022.
  • Economic recovery in 2023 due to stabilized fuel costs, streamlining, and adjusted ticket prices.
  • Achieved adjusted operating profit of 161.7 MSEK, turning loss into profit.

Financial performance:

  • Revenues at 2,366.4 MSEK, lower than previous year.
  • Costs at -2,187.6 MSEK, lower due to discontinuation of Rostock line and vessel divestment.

Transition in fuel:

  • Shifted from LNG to MGO in 2022 to mitigate fuel cost increases and avoid Russian gas.
  • Negative impact on emissions.
  • Started gradual return to LNG due to stabilized fuel prices.

Long-term goal of climate-neutral travel by 2045 remains despite challenges.

  • Challenges include low requirements in ongoing tender by Trafikverket for new technology investments.

Gotlandstrafiken’s role:

  • Submitted bids for 2027-2035 concession period.
  • Confidence in ability to adapt regardless of concession outcome.
  • Opportunity to operate during peak demand even without main concession.

Focus on development and expansion:

  • Strong liquidity supports investment in ships, properties, and new ventures.
  • Acquisition of Birka Gotland and partnership with Viking Line for Baltic cruises signals focus on passenger shipping.
  • Investing in biogas production on Gotland and exploring further investments in fossil-free fuels.
  • Exciting prospects and significant investments in local hotel and property operations on Gotland.

Read the annual report (in Swedish) here.

Remark

EQT-owned Molslinjen demands that the tender for the ferry service to Gotland be redone. In a letter to the Minister of Infrastructure and to the Swedish Transport Administration, it is claimed that the tender requirements are bad for the environment and cost the state SEK 5 billion in unnecessary expenses.

Source: Dagens industri (in Swedish, and paywalled)

Mar 22
1

Adria Ferries studying a new Italy – Montenegro ferry link

By | 2024 newsletter week 12 | No Comments

The Ancona-based ferry company Adria Ferries is considering launching a new maritime link between Italy and Montenegro.

News agency ANSA reported that, during a meeting between Alberto Rossi (owner of Adria Ferries) and Milojko Spajic (Montenegro’s prime minister) held in Podgorica, the possibility of opening a new RoPax link between the ports of Bar and Ancona emerged.

However, Alberto Rossi told FERRY SHIPPING NEWS that “a preliminary study is underway for a regular link between Bari and Bar since the same route had been operated in the past through the company Adriatica di Navigazione”. Rossi also underlined that “the possibility to open up a new service depends also on the availability of our ships which are currently all employed”.

Adria Ferries controls a fleet of three ro-pax ships: two deployed on the Italy – Albania routes and a third chartered out to DFDS.

Mar 22
1

Sfakia Pioneer sold to Albania

By | 2024 newsletter week 12 | No Comments

It is reported that Anendyk Seaways’ Sfakia Pioneer (formerly Oniyouzu) was sold to Finikas Lines of Albania.

She was purchased by the Cretan-based Anendyk in February 2019 to serve on the Sfakia-Gavdos line. She remained at Souda port awaiting her conversion since June 2019.

In March 2024, she was eventually sold to serve on the Corfu – Agioi Saranta (Albania) line.

The ship arrived at the port of Corfu on March 16 under tow. Built in Japan in 1998 by Mitsubishi Heavy Industries, she has a carrying capacity for 200 passengers and can travel at 23 knots (with a maximum speed of 26.5 knots).

Photo: Anendyk Seaways

Mar 22
2

Minoan Lines’ HSC Santorini Palace was renamed Santorini Jet

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HSC Santorini Jet is the new name of HSC Santorini Palace following her bare boat chartering by Seajets. The ship is currently at the Spanopoulos Group facilities changing her livery and undergoing a refit.

Seajets has already announced its intention to introduce her on the Piraeus-Syros-Mykonos-Evdilos (Ikaria) – Karlovasi (Samos) run from June 1st until September 30, 2024.

Photo: Kostas Papadopoulos

Mar 22
1

Traffic of Passengers, goods, and cars in Greek ports: Q3, 2023

By | 2024 newsletter week 12 | No Comments
  • According to the Hellenic Statistical Authority (ELSTAT) the traffic of passengers, goods and mobile units in the Greek ports for Q3 2023 compared to Q3 2022 is as follows:
  • +2.6% passengers
  • +0.0% goods
  • +2.6% mobile units
  • +2.8% domestic passenger traffic
  • -0.7% international passenger traffic
  • +3.0% domestic mobile units
  • -2.2% domestic mobile units
  • -6.3% domestic goods
  • +1.8% international goods

Click on graph below to access the source document of ELSTAT

Mar 22
1

Austal Vietnam to design and build a 71m RoPax-Cargo destined for “Groupe Degage” in French Polynesia

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This new ferry boasts a steel monohull construction with an aluminium superstructure, designed to comfortably accommodate up to 140 seated passengers and 17 crew members. Featuring a spacious main cargo deck spanning 494m2, it is capable of efficiently transporting a variety of cargo including 10’ and 20’ containers, palletized goods, and vehicles.

Dubbed the “Dory 2”, this vessel boasts a cruising speed of 12 knots and an impressive range of 1,000 nautical miles. It will serve the route between Papeete and Palliser islands, offering essential transportation services.

This latest agreement marks the fifth ferry collaboration between Austal and Groupe Degage, while also marking Austal Vietnam’s inaugural project involving the construction of a steel-hulled ship.

Mar 22
1

Grendi is back as a shipowner with the purchase of the RoRo Wedellsborg

By | 2024 newsletter week 12 | No Comments

Genoa-based shipping group Grendi will re-enter the market as a shipowner.

On March 25th, the company, controlled and led by the Musso family, will sign the purchase of the 2014-built Wedellsborg through a new company called Navco, with ownership split 50-50 between Grendi and the Giovanni Fagioli’s Finaval group.

Wedellsborg has been chartered by Grendi since 2021 and is currently deployed on routes linking Marina di Carrara, Olbia, Cagliari, and more recently, Tunisia and Algeria for Maersk.

The vessel, built in Italy at Cantiere Navale Visentini, measures 179 meters in length with 2,600 lane meters and features a stern ramp.

Mar 22
1

IMAGE CARDS

By | 2024 Newsletter week 11, 2024 newsletter week 12 | No Comments

DFDS placed an order for yet another 100 Volvo electric trucks which will almost double the number of electric trucks in its fleet.

The new electric trucks will be deployed in markets across Europe to meet the growing customer demand for e-mobility solutions, consolidating DFDS’s green ambitions and further cementing that DFDS has the largest fleet of heavy-duty electric trucks on the continent.

OSK-designed P&O Liberté has begun commercial sailings between Dover and Calais, carrying passenger and freight customers. She is the sister of P&O Pioneer, which entered service on the Channel crossing in June last year as the world’s largest double-ended hybrid ferry.

On March 14, 2024, the takeover of L’Express des Îles by the ferry operator FRS was completed. This marks a significant milestone in FRS’s expansion strategy to diversify its route offering.

Source: FRS

New Zealand – A ministerial briefing says the cancellation of KiwiRail’s mega ferries leads to the possibility the state-owned enterprise may not be best placed to provide an inter-island service in the future.

Officials will investigate how the market might respond to the hypothetical exit of KiwiRail, including whether rival operator Bluebridge could provide more capacity across Cook Strait. They will also look at whether the Government could subsidise ferry operations.

Source: NZHerald

The Supervisory Board of Polish Baltic Shipping Co. wanted to renew the positions of president and member of the company’s management board. After the interviews, it was decided to entrust these functions to Piotr Redmerski (photo) and Artur Krasiński.

This means the return of Piotr Redmerski to the management board of PŻB S.A.

Artur Krasiński makes his debut in the structure of the Kołobrzeg-based shipowner.

Source: Polferries on Linkedin

Liquid Wind, Umeå Energi and Wasaline announce the signing of a Letter of Intent for the sale and purchase of eMethanol from the eFuel facility in Umeå, Sweden.

The companies will explore opportunities to fuel the northernmost shipping line in the world, Wasaline, with eMethanol from FlagshipTHREE in Umeå.

Wasaline’s hybrid ferry, Aurora Botnia, is already equipped with dual-fuel engines and batteries. The company’s goal is to fully decarbonize their ferry operations between Vaasa in Finland and Umeå in Sweden.

The trend has reversed – Swedes are once again travelling to Denmark.

Following a period marked by a weaker krona and high interest rates, ferry company Stena Line reports a positive new booking trend. During the first quarter of the year, the company noted a significant increase of 25 percent in Swedish bookings to Denmark, and all indications suggest that the recovery will continue.

Isle of Islay, the first of two vessels to serve Islay and Jura, was launched on Saturday 16 March at Cemre shipyard.

The vessel, which is one of four ferries being built at the yard, marks a significant milestone in Caledonian Maritime Assets Limited’s (CMAL) commitment to delivering new ferries to serve the Scottish islands.

Mar 15
1

Irish Ferries: record levels of activity and revenue in 2023

By | 2024 Newsletter week 11 | No Comments

Irish Continental Group (ICG) reported its financial performance for the year ended 31 December 2023.

Highlights:

  • Revenue decreased a little (-2.2%) to €572.0 million.
  • EBITDA increase of €5.4 million to €132.6 million principally due to a strong performance in the Ferries Division.
  • Within the Ferries Division, the recovery in passenger markets, the strong position in freight markets and the introduction of duty-free have lifted the Ferries Division to record levels of activity and revenue.
  • Cars +12.6%
  • Passengers +20.2%
  • RoRo freight units +3.9%
  • In May 2023, the Group chartered the Oscar Wilde cruise ferry (ex Tallink Star) for an initial 20 month period with further extension and purchase options. The vessel initially entered service on the Rosslare – Pembroke route, replacing the Blue Star 1. The Group also chartered the Norbay vessel on a short-term basis, replacing the Epsilon which was returned to its owners at the end of its charter.
  • Performance in the Container & Terminal Division has been more challenging.
  • 2023 was another strong year of cash generation for the Group, further strengthening its balance sheet over the period. Cash generated from operations of €136.7 million (2022: €132.0 million) was used to fund strategic capital expenditure of €21.8 million and returns to shareholders of €45.8 million via a combination of dividends and share buybacks. Net debt at year end fell by €27.4 million to €143.7 million (2022: €171.1 million).

Financial Highlights
Irish Continental Group

Financial Highlights
Irish Ferries

Results Presentation
(click on picture)

Preliminary Statement of Results
(click on picture)