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2020 Newsletter week 38

Sep 17
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FERRY SHIPPING

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The SOS-Signals Sent by Brittany Ferries Reached Paris

EUR 15 million

French Prime Minister Jean Castex has announced on Tuesday 15 September the decision to help the French ferry companies by reimbursing all payroll taxes.

From a budget of EUR 30 million, hard-hit Brittany Ferries will get 15 million.

EUR 85 million

The same day, Presidents of the Bretagne (Brittany) and Normandy regions, Loïg Chesnais-Girard and Hervé Morin, promised another EUR 85 million.

The regions are involved in Brittany Ferries, as co-owners of the vessels.

Brittany Ferries Chairman Jean-Marc Roué thanked the two regional presidents, saying that, “they seem to be the only ones who understand the importance of the cross-Channel ferry traffic. They have been the only ones to effectively help the French seafarer and the few companies that still hire them.”

Source: Twitter messages from abovementioned politicians and Mr Roué.

Sep 17
0

Finland Lifts Travel Restrictions

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Last week Finland has announced the lifting of travel restrictions for a number of countries, including Sweden and Germany. The restrictions are based on a new limit of 25 infections per 100,000 inhabitants. Before it was 8.

These first changes to travel restrictions will take effect on September 19.

Ferry companies, unions and other stakeholders welcome the decision but demand predictability in government decisions and communications.

Press Release Finnish Government
Sep 17
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Fjord Line is Preparing for Long-Time Effects of Corona

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“We are now preparing for the fact that it may take a long time before we return to normal operations,” says Rickard Ternblom, CEO of Fjord Line.

The effect of the measures that were taken before the summer with cash support, refinancing, internal restructuring and equity, is estimated at NOK 700 million in positive cash flow for 2020, and secures operations throughout this year. The company believes it shows that owners, banks, lenders and other suppliers and partners have great faith in the business model and the long-term goals.

Even with the authorities’ extended redundancy rules, compensation scheme and loan guarantee scheme, we will not escape the fact that employees will be affected. Up to 200 people will be laid off. Cost reductions are the only thing that helps when revenues fall as dramatically as what we have experienced in recent months, says Ternblom.

Sep 17
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Deal Done: MSC Is Now 49% Shareholder of Ignazio Messina & Co.

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MSC has finally taken a 49% stake in the Ignazio Messina & C. shipping group.

An official statement from Banca Carige and the NPL management company Amco informed that Gianluigi Aponte’s Italian holding company Marinvest and Messina Group have formally signed all the requested conditions which makes MSC the new owner of four ships and of a minority stake in the Genoa-based con-ro operator.

Aponte will invest €25m both for a 49% stake in the Ignazio Messina & C. group and for a 52% stake in a new vehicle firm called RoRo Italia, controlling four of Messina’s eight modern con-ro ships: JOLLY DIAMANTE, JOLLY PERLA, JOLLY TITANIO and JOLLY COBALTO.

Messina had a financial exposure of over €500m –mainly with Banca Carige– related to fleet renovation plan completed in the last few years, with 8 new con-ro ships built in South Korea.

Large part of these non-performing loans (€324m) was offloaded to Amco while the remaining part went to the new vehicle RoRo Italia.

The Messina family will also put €5m on the table to re-launch the business which will benefit from several operative synergies between the Italian and the Swiss firms.

The agreement also obtained all the relevant approvals.

Sep 17
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New cooperation between DFDS and Smyril Line

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From now on, Smyril Line’s roro AKRANES will arrive every Sunday in Vlaardingen, coming from Norway. DFDS will handle the discharging and loading of trailers, containers and machinery. Then the ship will sail back to Stavanger, Trondheim, Rørvik and Hitra.

To support the DFDS network, the departure from Vlaardingen to Felixstowe will be delayed with one hour to offer customers a connection from Norway to the UK.

Sep 17
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P&O Ferrymasters Introduce ‘Track And Trace’ System for Containers in Europe

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P&O FERRYMASTERS is launching an advanced track and trace service for its container customers, making it the first major logistics business in Europe to introduce the technology.

The service will allow customers to receive real-time updates on the precise location of their goods as they are transported by rail, road and sea.  This innovation improves efficiency, reduces costs and increases the speed of information exchange. (see video below)

Sep 17
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POVL ANKER in Dock for a One-Month Extensive Renovation

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POVL ANKER is in dock at Ørskov Shipyard in Frederikshavn from 14 September to 20 October.

The planned refurbishment of POVL ANKER was postponed twice because of COVID-19. The risk that the route to Ystad would be closed by the authorities meant that POVL ANKER had to be kept ready for deployment, in case the island of Bornholm was suddenly completely dependent on the Rønne-Køge route.

Work includes a major energy renovation, A/C, oil treatment plant, lighting, gensets, engines and steam boilers. The ferry will also be repainted as when it was delivered in 1978.

Sep 17
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Fincantieri and JSW Steel Join Forces To Build a New Shipyard in Piombino

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(geen foto beschikbaar)

Earlier this week, JSW Steel presented a new investment plan for the steel plant based in the port of Piombino, where a new shipyard is also expected to be realized.

Fincantieri and JSW signed an agreement aimed at exploring the possibility to create a shipbuilding site for new ferries, offshore units and other maritime installations.

It’s unclear at the moment if and how this new shipyard would be related with the newly built Piombino Industrie Marittime which is indirectly participated by Fincantiei through San Giorgio del Porto.

The investment fund Creon Capital has also signed a Memorandum of Understanding with JSW Steel Italy Piombino, Piombino Logistics and GSI Lucchini Spa, aiming for the development of a sustainable energy industry in Italy. Together with local partners, the fund proposed to start working on an investment plan that should upscale the Tuscan region of Piombino into a cluster for hydrogen, renewable energy, LNG, and logistics.