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2019 Newsletter week 27

Jul 04
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Fjord Line’s Board Of Directors Finds The Profit Development Satisfactory And Expects Further Improvement In 2019

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Compared with 2017 total revenues grew with a healthy 13% to MNOK 1,529.3 which again is a record for the Group. All business areas in the company contributed to this growth where both volumes and average rates increased across the board.

Passenger operations on Sandefjord-Strömstad developed especially strong following a refurbishment of the retail unit onboard OSLOFJORD.

After a troublesome season in 2017, Fjord Line recorded a sailing season without incidents on the route Kristiansand-Hirtshals.

Following the extensive docking program for sister vessels STAVANGERFJORD and BERGENSFJORD, the capacity increase realised through the addition of 64 new cabins and 114 further seats, lead to record volumes during July on Bergen-Hirtshals route.

Key figures

  • +8.4% Passengers
  • +7.8% Cars
  • +1.5% Freight
  • +12.5% Operating income = MNOK 1,529.3
  • +9.1% EBITDA = MNOK 335.5
  • +1 % Operating result (EBIT) = a profit of MNOK 123.9
Download the Annual Report 2018
Jul 04
0

New CFO For DFDS

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Karina Deacon has been appointed new CFO for the DFDS Group starting on 1 January 2020. She replaces Torben Carlsen as CFO following his appointment to President & CEO from 1 May 2019. She will join Torben Carlsen in the Group’s Executive Board and be part of the Executive Team.

Karina Deacon (50) has extensive strategic and financial management experience from positions with several large, international companies. She holds a Master of Business Administration & Auditing and has gained experience with various management, finance and accounting roles at PWC and ISS and positions as Group CFO from Landic Property, Saxo Bank and most recently Nilfisk.

Jul 04
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FERRY PORTS

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Monopolistic Use Of Port Of Agaete By Fred Olsen Has Been Condemned

The Court of Justice of the European Union issued a resolution dismissing the appeal filed by Fred Olsen.

What is it about? In March 2018, the General Court of the European Union considered that Fred Olsen’s exclusive commercial exploitation of Port of Agaete (Gran Canaria) was a state aid, granted by the Government of the Canary.

Fred Olsen and the Government of the Canary Islands argued that the exclusive use does not constitute State aid, since Fred Olsen had to pay port fees.

However, both the General Court and the Court of Justice have rejected this. They pointed out in their judicial decisions that the payment of port taxes does not cover the exclusive use of a public port.  The Government of the Canary Islands should have demanded a higher price for an exclusive use.

In the past, both Naviera Armas and Trasmediterranea have tried –in vain—to get access

This ruling should mean the end of the exclusive use of the Port of Agaete by Fred Olsen.

Jul 04
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TECHNOLOGY

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Corvus Energy has completed the installation of a 5,5 MWh battery energy storage systems (ESS) for each of the two Ro-Pax cruise ferries CRUISE BARCELONA and CRUISE ROMA from Grimaldi Group.

The ‘mega batteries’ will allow the Grimaldi cruise ferries to turn off the engines and operate solely on battery power and with zero emissions for up to four hours during port stay.

Jul 04
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IN THE MEDIA

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Saaremaa Announces Tender For Montu-Ventspils Service

The rural municipality government of Saaremaa, Estonia’s largest island, has announced a procurement for finding an operator for the ferry service between the port of Montu on Saaremaa Island and Ventspils in Western Latvia for the coming five years.

The route is to be serviced during the period of contract each year at least from June 1 to August 31 at least three times per week. The detailed period, schedule and volumes will be established in the course of negotiations.

The qualifying ship must accommodate at least 25 passenger cars or other vehicles up to 4.65 meters in length as well as at least one bus up to four meters in height.

Source: The Baltic Course
Jul 04
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PHOTOS OF THE WEEK

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FRS: Successful Start Of GOLDEN BRIDGE On Motril – Melilla

Since 27 June, GOLDEN BRIDGE connects the ports of Melilla and Motril in just 5 hours.

With 186 meters in length, a capacity for 1,500 passengers, 500 vehicles and cargo, the GOLDEN BRIDGE has a restaurant, bar, premium zone, lounges, children’s play area and outdoor terrace. The introduction of this larger and faster ship represents a significant improvement on this route. Crossing time has gone down from 7 to 5 hours.

The ferry that operated this route previously, VOLCAN DE TAUCE, will cover the Motril – Tangier Med line instead.

GOLDEN BRIDGE is on charter to FRS for six months, owned by Galaxy Seaways SA, and taken care of by A-Ships Management SA in Athens.

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