It is planned to lengthen the passenger ferry pier in the port of Klaipeda, by 50m. Contracts have been signed. The extension of the pier will cost €1.4 million. As from 2021 customer DFDS will be able to use the extended pier.
Tallink Grupp: Cargo Revenues Continued to Increase, But Overall Revenue for Q1 Was Down
The group reports an unaudited net loss of EUR 25.3 million (net loss of EUR 19.6 million in Q1 2018) and an unaudited total revenue for the quarter of EUR 178.9 million, which is a 2.9% decrease compared to the same period last year.
At the same time, the group’s cargo business continued to increase both in volume and revenue in the first quarter of 2019. The transported cargo volumes increased in total by 2.7%, the cargo revenues increased by 1.5% or EUR 0.4 million and amounted to EUR 29.6 million in the first quarter.
In the Q1 the group made significant investments into the upgrade of its existing fleet with EUR 25.3 million invested mainly into the technical dockings of seven vessels.
Paavo Nõgene, CEO of AS Tallink Grupp said: “The challenging period of dockings is now behind us. Our vessels are fresh, modern and ready to offer our customers new and memorable experiences. We are ready and prepared for the next two quarters of our annual high season and our whole team here at Tallink Grupp will work extremely hard to improve the results of the next months and quarters of 2019.”
In Q1, revenue increased 11% to DKK 3.9bn driven by the expansion in the Mediterranean and stockpiling in UK ahead of the initial Brexit-date end of March. The Easter timing difference vs 2018 lowered passenger revenue.
EBITDA before special items increased 13% to DKK 677m driven by the Mediterranean expansion and strong performance in North Sea.
Baltic Sea’s result was lowered by one-off additional operating costs as capacity was maintained during dockings, one of which was extended. In addition, the Easter timing difference reduced passenger earnings compared to Q1 2018, especially in the Passenger business unit.
Logistics continued to improve performance in UK & Ireland. In Sweden and Belgium earnings were lower as Q1 2018 included peak earnings from a large contract.
The first in a series of six new freight ferries was delivered in February and successfully deployed in March between Istanbul and Trieste.
2019 EBITDA outlook unchanged: DKK 3.8-4.0bn (2018: DKK 3.6bn, restated)
Key figures Q1 2019
- +11% Revenue: DKK 3.9bn (3.5)
- +13% EBITDA: DKK 677m (597)
- -22.3% Profit before tax DKK 159m (204)
Outlook 2019 Unchanged
- 10-12% revenue growth
- EBITDA-range of DKK 3.8-4.0bn (2018: DKK 3.6bn)
In Q1, Finnlines realised a good result despite the fact that the growth of Finnish exports and imports has slowed down.
- +2.0% Revenue 137.6 million
- -1.8% Result 16.2 million
- -0.3% EBITDA 34.2 million
In April 2019, AS Tallink Grupp transported 779,113 passengers, which is a 1.3% decrease compared to April 2018.
For information: Last year the Easter weekend started in March, with Easter Sunday on the 1st of April. This year, Easter was on the 21st, with the whole Easter weekend in April.
The number of cargo units decreased by 2.3% to 32,386 units and the number of passenger vehicles decreased by 3.7% to 84,203 units.
The group operating the Virtu Ferries catamaran services between Malta and Italy can look back on 2018 with satisfaction.
Results in € (,000) for the full year 2018
+0,5% Revenue 33,148
-3.6% Gross profit 13,993
-0.5% Operating profit 10,997
+6.8% Profit before tax 10,447
+13.3% Profit 10,909
Crisis in Venezuela: The 4 Rusty Ships That Reveal the Decline of The Most Powerful Commercial Fleet in The Country
This BBC article from Guillermo D. Olmo is about the decline of the Venezuelan company Conferry.
[DISCLAIMER: Some pictures may be disturbing to some viewers who like well-maintained ships]
ABEL MATUTES Is Balearia’s Second Ferry To Get LNG Power
The conversion of ABEL MATUTES into an LNG-powered ferry has reached one of the key phases of the process: the incorporation of two gas tanks of 178m3.
The re-engining is done in Valencia. The job consists in changing its two main engines MAK 9M 43 C into dual-fuel MAK engines 9M 46 DF.
By 2021, Balearia wants to have nine of its ships to run on LNG.
Ferguson’s Bosses Welcome an Investigation into The Future of Shipyard – And Insist That Business Is Booming
Ferguson’s bosses have welcomed an investigation into a delayed £97m ferry contract and the future of yard – and insist that business is booming.
Company chief executive Gerry Marshall has broken his silence after a senior Scottish Government minister confirmed a further setback in the delivery of the two new CalMac vessels which are under construction at the Newark site.
GLEN SANNOX is now 14 months late. Hull 802 is around 20 months behind schedule.
Ferguson’s and CMAL are in dispute over the extent of changes made to the design of the ships.
A bill of DKK 1.5 million has landed on Molslinjen’s table, after the Ministry of Transport decided to penalise the Bornholm line. The largest part of the amount is due to the fact that the company has “neglected to submit due documentation in connection with some delays and cancellations, just as there have been some episodes with inadequate insertion of replacement ferry to and from Bornholm,” writes Ministry in a press release (in Danish).