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2020 Newsletter week 41

Oct 08
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FERRY SHIPPING

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Tallink: Freight Status Quo, Passengers Dropped Sharply

September

  • -1% Cargo Units 32,672 units (32,843 in September 2019)
  • -66% Passengers 243,215 passengers (718,354)
  • -25% Cars 62,138 vehicles (83,089)

Q3

  • -2% Cargo Units 91,578 (93,329)
  • -56% Passengers 1,314,301 (2,974,790)
  • -22% Cars 275,735 (353,725)

Paavo Nõgene, CEO of Tallink Grupp said that Tallinks business model needs cargo AND passengers. “Putting travel restrictions in place for passengers strongly affects the operators’ income base. This is why it is important that support mechanisms are put in place by the Finnish government, who has introduced the new restrictions, for all passenger ferry operators to ensure that cargo transportation can continue smoothly and without incurring losses.”

Oct 08
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Private Equity funds Apollo and HPS injected USD 75 Million in Naviera Armas

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Spanish media reports that Naviera Armas has just received financial oxygen from two private equity funds, Apollo and HPS. They injected some USD 75 million in order to keep the ferry company alive in the rough seas of the coronavirus emergency.

Since the news went public both the EUR 280 and 300 million bonds issued respectively in 2016 and 2017 and due to expire in 2023 and 2024 decreased their values and are now negotiated in the range between 40 and 50% of the original value.

This new debt received from the funds comes after EUR 50 million provided by some Spanish banks earlier this year.

Last week Grandi Navi Veloci officially announced to have sub-chartered from Naviera Armas-controlled Trasmediterranea both ropaxes TENACIA and FORZA owned by Grimaldi Holding and deployed up to now on the Spain – Balearic Islands routes.

Oct 08
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La Méridionale to Renegotiate All Employment Agreements

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STEF-owned ferry company La Méridionale announced the cancelation of 90 agreements regarding terms of employment. All the agreements will be renegotiated with the unions, both for the crews and the shore staff. This should be done by the end of the year.

The fact that the company lost the major Corsican ports in the 15-month transitional contract (to Corsica Linea) did not help the finances, especially not together with the pandemic.

However, owner STEF is a strong logistics group.

La Meridionale also bought PELAGOS (DFDS – LIVERPOOL SEAWAYS – EUR 30,6 million) before Covid. The ship is still laid up in Le Havre.

Oct 08
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CTMA: A Season that Went Well Despite the Pandemic

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CTMA says in a French press release it is pleased with the smooth operation of the tourist season, despite the pandemic.

CTMA Ferry provides regular ferry service between Souris, Prince Edward Island and the Îles de la Madeleine.

Nearly 19,000 visitors, excluding residents of the Îles de la Madeleine, accessed the archipelago via the ferry, while public health authorities set the visitor limit at 35,000 during the peak season.

In addition, the ferry MADELEINE (former LEINSTER, 1981) made 117 crossings compared to 170 last year.

Normally, the CTMA Ferry makes annually about 300 trips, carrying a total of more than 100,000 passengers and 41,000 vehicles.

Oct 08
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NIB Finances Hybrid Cargo Ships in Finland

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Helsinki-based Nordic Investment Bank and Finnlines Plc have agreed a loan of EUR 30 million to finance the acquisition of three new hybrid cargo vessels.

The new hybrid cargo vessels will be equipped with high-powered battery banks and photovoltaics, which will allow the ships to use electricity and operate emission-free while docked. The vessels will be delivered during 2021–2022, and will operate on routes between Finland and Europe.

Oct 08
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CLdN Continues to Add Capacity on Continent – UK Routes

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CLdN is to step up preparations for the end of the Brexit transitional phase on 31st December 2020 by introducing additional capacity on its UK routes.

  • Last week 25% extra capacity was added on both the Rotterdam – London and Rotterdam – Humberside routes.
  • In addition, and from week 42, an extra vessel will be deployed and thus a third daily sailing will be added on the Zeebrugge – London route to serve the growing demand.

One of the reasons for the high demand is the fact that British companies are preparing for a no-deal end of the Brexit transition period by stockpiling essential goods.

Oct 08
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Kolumbus and Fjellstrand Sign Contract for Construction of World’s First Fully Electrical Fast Ferry

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Norwegian mobility company Kolumbus and shipyard Fjellstrand have signed a contract for the delivery of the world’s first fully electrical fast ferry. The project is a key part of Kolumbus’ work to reduce emissions from passenger transport.

The TrAM project (Transport – Advanced and Modular), led by Kolumbus, receives economical support from EU’s Horizon 2020 program to develop new methods for design and production of zero emissions passenger vessels.

The politicians of Rogaland county council have decided to partially finance the construction of this electrical fast ferry, intended to validate the methods developed by the TrAM project. During 2022, the vessel will commence the service of Kolumbus’ route from the city of Stavanger to Byøyene and Hommersåk in a test period.

Oct 08
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FERRY PORTS

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Liverpool Port Responds to Fears of 7,000 Trucks Delayed at Dover

Peel Ports Group Commercial Director Stephen Carr said Port of Liverpool facility is ideally placed to contribute to the “Team UK Approach” needed to overcome major Brexit delays at Dover, following a stark warning from cabinet minister Michael Gove.

Logic

  • The Dover Straits now accounts for roughly 75% of all ferry trade with the continent.

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  • Much of the UK’s warehousing is situated in the Midlands and North of Britain.

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“The Port of Liverpool is uniquely positioned to offer this proximity to market, which allows goods to reach their end destination more reliably and with less reliance on increasingly scarce truck drivers.”

Read more on Peel Ports.com
Oct 08
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Attica Group Interested in the Port of Igoumenitsa

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Attica Group expressed serious interest in the port of Igoumenitsa, in the context of the forthcoming tender for the sale of 67% of the Igoumenitsa Port Authority S.A.

It is pointed out that Attica Group has a long-standing presence on the Adriatic Sea, especially in the Patras – Igoumenitsa – Bari and Ancona lines.

According to the information, Attica Group will declare itself “present” in the forthcoming tender, making its first step to expand the group’s activities in new business fields, such as logistics and tourism.

It is pointed out that the Italian group Grimaldi, Attica’s major rival in the Adriatic services, has also shown similar interest in the port of Igoumenitsa.