All Posts By

sandra

Apr 17
Love3

Port of Turku Invests in Future Ferry Traffic While Delivering Strong Results

By 2026 Newsletter week 16
  • The Port of Turku reported a strong 2025 despite Finland’s weak economic environment.
  • Turnover reached EUR 22.3 million, with an operating profit of EUR 5.1 million.
  • The port said it was Finland’s most profitable port in 2025.
  • Passenger traffic remained stable at around 2.1 million travellers, down only slightly year-on-year.
  • Ferry traffic continues to be a core pillar of Turku’s business model.
  • Construction of the new Ferry Terminal Turku began in January 2025 and advanced on schedule.
  • Piling and foundation works were completed in March, with structural works starting in July.
  • The foundation stone was laid in September 2025.
  • The new joint terminal for ferry operators is scheduled for completion in early 2027.
  • The project will improve future passenger, vehicle and freight ferry operations in Turku.

Source: Port of Turku

Apr 17
Love3

Port of Dover Reaches Net Zero for Scope 1 and 2 Emissions

By 2026 Newsletter week 16
  • The Port of Dover has achieved carbon net zero emissions for Scope 1 and 2 in 2025.
  • Dover said this is at least five years ahead of any other UK port target and 25 years ahead of the UK Government’s maritime target.
  • Emissions have fallen by 98.3% since 2007, from nearly 14,000 tonnes.
  • Remaining emissions were offset through a local regenerative farming scheme certified under the UK Carbon Code of Conduct.
  • The result was externally verified against ISO 14064 and the GHG Protocol Corporate Accounting and Reporting Standard.
  • The Port highlighted that the Short Straits account for 8% of UK maritime emissions, making the milestone significant for wider decarbonisation efforts.
  • Measures included use of sustainably sourced HVO fuel, 1.5 MW of on-site solar generation, renewable electricity and energy efficiency upgrades.
  • CEO Doug Bannister said Dover now aims to become home to the world’s first high-volume Green Shipping Corridor on the Short Straits.
  • The net zero target forms part of the Port of Dover 2050 Masterplan.
  • Dover also recently secured EcoPorts (PERS) environmental recertification for the fourth time.

Source: Port of Dover

Apr 17
Love3

Leadership Change at Port of Antwerp-Bruges

By 2026 Newsletter week 16

Jacques Vandermeiren will step down as CEO of Port of Antwerp-Bruges after leading the organisation since January 2017.

The board said the port is entering a new strategic phase focused on cost efficiency and sustainable value creation, making this the right moment for new leadership.

The search for a successor starts immediately. In the meantime, current COO Rob Smeets will take over as interim CEO, ensuring continuity of daily operations and policy.

Apr 17
Love3

Brittany Ferries and Atout France Renew Partnership to Boost UK Tourism to France

By 2026 Newsletter week 16

Brittany Ferries and Atout France signed a new three-year strategic agreement on 14 April 2026 aboard SAINT-MALO in Saint-Malo, strengthening their long-standing cooperation to promote France to British travellers.

The renewed partnership comes as competition between tourism destinations intensifies. Both organisations aim to support more sustainable and innovative tourism while increasing the international appeal of France.

The UK remains France’s third-largest inbound tourism market, with an estimated 13.1 million visitor arrivals in 2025. British visitors are also among the highest spenders, generating more than EUR 8 billion in tourism revenue.

At the same time, Ireland has gained importance as a nearby growth market following Brexit, creating further opportunities.

Brittany Ferries carries more than 2.5 million passengers each year and plays a key role in connecting French regions with major UK markets, generating substantial tourism benefits for Brittany, Normandy and other served regions.

The new roadmap includes:

  • stronger use of customer data and market intelligence
  • ambitious digital promotion, including innovation and AI
  • expanded joint marketing campaigns in the UK
  • onboard promotion of French gastronomy and craftsmanship
  • destination marketing linked to major cultural events

A key milestone will be the Millennium of the Normans celebrations in 2027, marking 1,000 years of shared history between France and the UK. Both partners see this as a major opportunity to further raise France’s profile among British travellers.

Atout France is France’s national tourism development agency, responsible for promoting France as a travel destination and strengthening the competitiveness and sustainability of its tourism sector.

Photo: Adam Oubuih, CEO Atout France, and Christophe Mathieu, CEO Brittany Ferries
© Jess Breheret

Apr 10
Love3

ICG Delivers Strong Growth Across All Key Metrics

By 2026 Newsletter week 15

Irish Continental Group reported a robust 2025 financial performance, driven by freight demand, pricing discipline, and high asset utilisation.

Key Financials (2025 vs 2024)

  • Revenue: €666.7m (+10.4%)
  • EBITDA: €150.6m (+12.8%)
  • Operating Profit: €85.6m (+23.9%)
  • Profit Before Tax: €77.5m
  • EPS: 46.6c (+28.4%)

Cash & Balance Sheet

  • Operating cash flow: €162.2m
  • Capex: €102.0m (incl. fleet investment)
  • Net debt: €256.1m (1.0x EBITDA)
  • Shareholder returns: €123.2m
    • Dividends: €25.5m
    • Buybacks: €97.7m

Operational & Cost Dynamics

  • Revenue growth supported by:
    • Higher freight volumes
    • Improved pricing
    • Strong asset utilisation
  • Cost pressures included:
    • Crew and port inflation
    • EU ETS carbon costs (now structural)
    • Fuel cost volatility (partially offset via surcharges)

Strategic Highlights

  • Transition to full fleet ownership completed (purchase of JAMES JOYCE)
  • Continued investment in terminals and fleet upgrades
  • Strong performance across both divisions:
    • Ferries
    • Container & Terminals

Returns & Efficiency

  • ROACE: 18.9% (up from 16.9%)
  • Continued disciplined capital allocation and strong cash conversion

Source: https://icg.ie/investors/reports-and-presentations/

Apr 10
Love3

Gotlandsbolaget to Acquire Minority Stake in Nordic Ferry Infrastructure

By 2026 Newsletter week 15

Gotlandsbolaget, together with Interogo Infrastructure and Lægernes Pension, has agreed to acquire a 30% stake in Nordic Ferry Infrastructure (NFI) for approximately €510 million (≈ SEK 6 billion). The investment is made via newly established NP HoldCo AS.

EQT Infrastructure V remains majority owner with 70%. The transaction is subject to regulatory approval and is expected to close in Q3 2026.

Structure and financing:

  • Gotlandsbolaget holds 54% of NP HoldCo and is its largest shareholder
  • Investment financed with own funds
  • NP HoldCo becomes a subsidiary of Gotlandsbolaget

About NFI:

  • Operates via Torghatten and Molslinjen
  • 59 routes, 101 vessels
  • 25 million passengers annually
  • 3,200 employees
  • 2024 revenue: NOK 9.0 billion, EBITDA margin: 31%

The investment aligns with Gotlandsbolaget’s strategy to expand in sustainable maritime infrastructure and build long-term partnerships in the Nordic ferry market. The transaction does not affect its operational activities.

Apr 10
Love3

PPA Reports Higher Revenue and EBITDA for FY 2025, Maintains Stable Dividend

By 2026 Newsletter week 15

Piraeus Port Authority (PPA S.A.) reported record revenue and EBITDA for FY 2025, with solid performance across key segments.

Financial highlights:

  • Revenue: €250.8 million (+8.6%, +€19.9 million vs 2024)
  • EBITDA: €132.3 million (+2.2%)
  • Net profit: €86.2 million (–1.5%)
  • Cash position: €149.8 million (as of 31 December 2025)

The company proposes a dividend of €1.896 per share, broadly in line with €1.92 in 2024. PPA maintains a payout ratio of 55% of net profit.

Segment performance:

  • Cruise: Passenger traffic and revenue reached a new all-time high (+24.8%), reinforcing Piraeus as a leading Eastern Mediterranean hub.
  • Car terminal: Revenue decreased by 5.4%, reflecting extraordinary storage revenues recorded in 2024. Transhipment volumes increased by 17.6%.
  • Container terminals: Showed resilience, with Pier I revenue up 17.0% (reaching profitability) and Piers II & III up 10.8%, despite lower throughput and ongoing Red Sea-related disruptions.
  • Ferry sector: Revenue decreased by 28.4%, following reduced port fees from May 2025 at the request of the Ministry of Maritime Affairs and Insular Policy. Passenger and vehicle volumes increased, confirming Piraeus’ key role in domestic connectivity.

Overall, the results highlight PPA’s resilience amid ongoing geopolitical and market challenges.

Source: https://www.olp.gr/en/news/press-releases/item/15309-ppa-s-a-financial-results-for-fiscal-year-2025-further-increase-in-revenue-and-ebitda-stable-dividend-policy

Apr 10
Love3

Boreal Orders 20 Electric Hydrofoil Vessels from Candela

By 2026 Newsletter week 15

Norwegian operator Boreal AS has ordered 20 Candela P-12 electric hydrofoil vessels, marking the largest electric high-speed passenger fleet announced to date.

  • The vessels are designed for Norway’s fjord network, where high-speed ferries (“hurtigbåtar”) are essential for daily transport.
  • The Candela P-12 delivers 25 knots and ~40 nm range, enabling electric operation on routes traditionally served by diesel fast ferries.
  • Deliveries:
    • First units in 2027
    • Fleet rollout continues through 2028–2030

Technology & Operations

  • Hydrofoils lift the vessel above water, reducing drag and cutting energy use by ~80%.
  • Charging time ~1 hour using standard DC fast chargers—no need for heavy port infrastructure.
  • Low noise levels (~64 dB) and active ride control improve passenger comfort and reduce seasickness.

Strategic Significance

  • Addresses a key challenge: electrifying high-speed coastal transport.
  • Supports higher frequency and faster journeys in fjord regions.
  • Reinforces Norway’s role as a front-runner in maritime electrification.
Apr 10
Love3

Echandia To Supply Battery System for GOTLAND HORIZON X

By 2026 Newsletter week 15
  • Sweden’s Echandia will deliver a 780 kWh battery system for GOTLAND HORIZON X, a new hybrid high-speed catamaran for Gotlandsbolaget.
  • The vessel, to be built by Austal Limited, is scheduled for delivery in mid-2028.
  • Capacity: 1,500 passengers and 400 cars; service speed 29 knots (Visby–Nynäshamn in just over 3 hours).
  • The battery system is designed for a 20-year lifespan, supporting hybrid functions such as peak shaving and load levelling.