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2020 Newsletter week 43

Oct 22
0

FERRY SHIPPING

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Ryfylkefergen – a Battery Ferry for Full Day Operation without Charging

Norwegian shipyard Westcon in Ølen is to build a fully electric ferry for Norled.

  • Route: Stavanger – Ryfylke archipelago
  • Up to 25 ports may be visited on a day. For this reason, the ferry is designed with interface for ferry linkspans in one end and combined ferry linkspans and roro ramp in the other. Because it is impossible to equip all these ports with chargers, the charging will be done overnight. (large battery packs!)
  • Operator: Kolombus Rogaland / Norled
  • Capacity: 99 pax / 27 cars / 2 trailers
  • Length: 45.4m
  • In aluminium
  • Design: LMG Marin
  • Delivered: 2022

Earlier this year, Westcon and Norled agreed on two more newbuildings, one of which will be Norway’s first hydrogen ferry.

Click here for LMG Marin’s dedicated web page
Oct 22
0

Grimaldi Group Took Delivery of the New RoRo ECO VALENCIA

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Grimaldi Group took delivery of ECO VALENCIA, the first of 12 hybrid roro ships (of which 3 are for Finnlines) part of the new Grimaldi Green 5th Generation class built in China by Nanjing Jinling Shipyard.

  • The vessel will be deployed on the motorways of the seas between Italy and Spain linking Livorno, Savona, Barcelona and Valencia ports
  • Length 238m / beam 34m / gross tonnage 64,000 / 7,800 lane meters
  • The design of the newbuilds was developed by the Technical and Energy Saving Department of the Grimaldi Group together with Knud E. Hansen in close cooperation with the shipyard
  • Classified “Green Plus”, which recognizes the environmental sustainability and performance
  • The vessel also obtained the AIR-LUB notation for her innovative air lubrification system
Oct 22
0

Deterioration in Viking Line’s Results Due to the Impact of the Pandemic

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January–September 2020

  • Sales €154.2 million (380.8)
  • Operating revenue €16.7 million (0.2)
  • Operating income €-35.2 million (17.5)
  • Net financial items €-3.1 million (-3.6)
  • Income before taxes €-38.3 million (13.9)
  • Income after taxes €-30.8 million (11.1)

Q3, 2020

Sales €56.6 million (153.8)

Operating income totalled €-7.8 million (26.2)

  • Q3 = most of the Group’s income is usually generated, this year negative
  • A large percentage of the staff in Finland was furloughed.
  • Travel restrictions, inconsistent communication from authorities affected travel and sales.
  • Uninterrupted passenger and cargo service in spite of pandemic
  • Liquidity at end of Q3 was stretched and remained at same level since then. Negotiations with financiers were conducted. On October 15, the Finnish Government issued State guarantees for additional loans totalling €38.7 million, which will secure liquidity.
  • The Finnish Transport and Communication Agency (Traficom) launched a tender process for a public transport service provider on Turku–Mariehamn–Stockholm, Mariehamn–Kapellskär and Helsinki–Tallinn routes. Viking Line intends to take part in the tender process.

Future prospects unchanged: Income for the full financial year will be negative.

Oct 22
0

Fjord Line and Color Line Forced to Trim the Sails

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With the ongoing pandemic and restrictions on international travel from and to Norway, both Color Line and Fjord Line decided to reduce capacity.

Color Line: Oslo – Kiel

  • As from 4 November, cruise ferry COLOR MAGIC will sail in a customized timetable with freight and Norwegian cruise-only passengers (without disembarking in Kiel).
  • Sister ship COLOR FANTASY will be laid up. This means that another 400 employees will be laid off.

Fjord Line: Bergen – Hirtshals and Hirtshals – Langesund

  • As from 27 October Fjord Line will temporarily stop servicing the routes between Hirtshals, Denmark and two ports in Norway: Bergen and Langesund. (until end of year)
  • Norway’s North Sea coast will still be operated by BERGENSFJORD between Stavanger and Hirtshals, in a freight-only mode.
  • Ropax STAVANGERFJORD to be laid up.
Oct 22
0

Less Passengers? More Freight Capacity for Spirit of Tasmania

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In its Annual Report 2019/20, TT-Line Company Pty Ltd’s reported total revenue of AUS $270.7 million and an after-tax profit of $32.4 million.

Chairman Michael Grainger said the Company’s performance was adversely impacted by the pandemic.

  • Number of sailings: 842 (867)
  • Passengers 351,224 (446,869)

“The freight volumes carried by the Company for the year were the highest on record, due in part to the increased availability of lane metres on board the ships because of lower passenger requirements.”

Oct 22
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Getlink’s Shuttle Profits Temporarily from Lifting of Quarantine

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Q3, 2020 results for Channel Tunnel

Traffic statistics

  • -3% Trucks on Truck Shuttles
  • -30% Cars, Motorhomes, Motorcycles… on Passenger Shuttles
  • -74% Coaches on Passenger Shuttles
  • -89% Passengers on Eurostar trains
  • -23% Rail Freight Trains

 

Finance data

  • -17% Revenue (for the Group)
  • -19% Revenue (for Eurotunnel)

Only -2% Revenue (Eurotunnel Shuttle) “as a result of the bounce back observed following the temporary lifting of UK quarantine measures during Le Shuttle’s peak summer season, the resilience of the Truck Shuttle’s traffic and the positive effects of the Group’s yield management strategy.”

Click here for Getlink’s Press Release
Oct 22
0

Agreement with Financiers and Finnish Government on Liquidity Loans of €43 million

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The Finnish Government approved the State of Finland’s guarantees on Viking Line´s liquidity loans up to €38.7 million. Using the liquidity loans, Viking Line aims to further secure its cash position and ensure business continuity during the exceptional situation caused by the coronavirus crisis. In addition to the Finnish State guarantees, commercial banks are guaranteeing €4.3 million.

The arrangement is compliant with EU State aid regulations.

Oct 22
17

Four New Electric, Highly Automated Ferries for the Stockholm Archipelago

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The Swedish Transport Administration Färjerederiet has begun a procurement of four new hybrid electric road ferries for two routes in the Stockholm archipelago, Ljusteröleden and Vaxholmsleden.

  • Delivery of the first ferry will be around end of 2022, then one per year
  • 60 cars
  • Traffic monitoring, auto-mooring and auto-charging in 4 minutes
  • Tenders must be received no later than 19 March 2021
  • The investment is part of Färjerederiet’s Vision 45, a plan for all our ferries to be climate neutral by 2045
Oct 22
12

Seajets Owner Marios Iliopoulos Invests in Cruise Ships

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Greek ship-owner Marios Iliopoulos of Seajets has acquired four cruise ships in the last three months. (the man in the middle of the picture)

According to experienced market executives, it is estimated that the ships’ pre-corona value was $500 million. They were purchased about $7.5 million each.

The market excludes the possibility for Mr. Iliopoulos to form a cruise company. These ships will either be chartered to other cruise companies or sold at 2019 prices.

Ships: QUEEN OF THE OCEANS (2000, Wikipedia), AEGEAN MAJESTY (1996, Wikipedia) and AEGEAN MYTH (1993, Wikipedia), PACIFIC ARIA (1994, Wikipedia).