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2021 Newsletter week 12

Mar 25
12

Color Ready For The New Black After A Red Year

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2020 has been a demanding year for Color Line, primarily due to major operational challenges and limitations as a result of government-imposed corona restrictions.

Revenue NOK 2.6 billion (5.3 billion)

Operating expenses NOK -2,630 million (NOK -4,215 million)

EBITDA -47 million (1.1 billion)

EBIT NOK -708 million (509 million)

Result NOK -936 million (220 million)

-70% Passengers: 1,255,046 (3,850,623)

-1.7% Freight 12m equivalent units: 174,068 (177,085)

More than 2,000 employees have been temporary laid off.

Color Line has placed emphasis on maintaining critical freight transport, and during the period has transported almost the same cargo volume as in a normal year with mainly three ships.

 

“The main goal in 2020 has been to secure operations and the market position of Color Line, as well as to ensure that the company is well prepared when society reopens,” says CEO Trond Kleivdal. “In 2020, the focus has been on cost-reductions and dimensioning future cost levels, in order to ensure an efficient and dynamic organisation by centralization and using digital solutions.”

Outlook

Color Line is well equipped to regain momentum in 2021 and will capitalize on key market trends within the company’s core areas of tourism and transport as soon as the authorities allow resumption of regular traffic,” says Kleivdal.

Mar 25
11

After A Difficult Year Brittany Ferries Will Return Stronger

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Covid and Brexit in the same year. Not a good recipe for bright figures. But Brittany Ferries has a clear and powerful vision on how to overcome these difficult moments.

“With a collective will to return stronger, I believe Brittany Ferries will overcome the greatest challenge in its history,” said Jean-Marc Roué at the AGM.

752,102 passengers might seem a lot, but that was less than a third of a normal year.

85% of the passengers are British. Unsurprisingly, the UK corona travel restrictions caused a devastating effect on the bookings.

Freight did much better with 160k units in total.

The year 2020 had also some positive elements:

  • Brittany Ferries won the third in a series of Brexit-related ferry contracts with the UK government.
  • The rail project (linking Cherbourg with Bayonne) is on track for a launch in 2022.
  • New ship: GALICIA

Brittany Ferries created an ambitious 4-pillar recovery plan:

  • Greener vessels: 2 LNG-powered E-Flexer class vessels will join sister-ship GALICIA in 2022 and 2023.
  • Brittany Ferries had reaffirmed its commitment to the French flag and French seafarers. It has called for all French seafarers to be recognised as essential workers.
  • The commitment and determination of Brittany Ferries’ founders, and the French farmers who continues to support it today, is reflected in a will to continue the journey taken by the company since 1972.
  • P This pillar goes hand-in-hand with on-going support from the regions, banks and government for which the company is grateful.
Read more
Mar 25
12

Passenger Ferry Division Hurt Rederiaktiebolaget Gotlands’ Year 2020

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  • Destination Gotland transported 32% less passengers, or 586,812 in total.
  • Group Sales decreased from SEK 2,716 million to SEK 2,011 million.
  • Operating profit decreased from SEK 506 million to SEK 142 million. During the year, vessels were sold with a total capital gain of SEK 120 million, which means that underlying operating profit amounts to SEK 22 million.
  • Profit after financial items decreased from SEK 403 million to SEK 159 million.
  • Profit after tax went up from SEK 310 million to SEK 333 million.
  • The current agreement for Gotlandstrafiken with the Swedish Transport Administration runs until January 2027.
  • During the year, support was received due to the corona pandemic for a total of SEK 8 million.
PDF full annual report (in Swedish)
Mar 25
13

Attica Holdings: Financing Agreement For The Construction Of Three Catamaran Vessels

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Attica Group announced the execution of a bond loan agreement with Alpha Bank of Greece and Norwegian Export Credit Insurance Organisation Eksportkreditt Norge AS, with the guarantee of the Norwegian Export Credit Guarantee Agency, for an amount of up to EUR 14.7 million.

The new bond loan will be issued by a 100% subsidiary and will finance up to 70% of the total construction and acquisition cost (pre-delivery & post-delivery finance) of three highspeed AERO Catamarans, according to the respective agreement with Brødrene Aa shipyard of Norway.

Of particular importance for the financing eligibility of the project were environmental, social and corporate governance (ESG) criteria, as the intended deployment of the state-of-the-art Aero Catamarans on the routes of the Saronic islands will contribute to the reduction of the carbon footprint, as well as to the social and economic development of the local insular communities.

Mar 25
11

Attica Holdings: Issuance Of A Long-Term Bond Loan Up To EUR 55mln

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Attica concluded an agreement with Piraeus Bank S.A. for the issuance of a five-year common bond loan of up to EUR 55mln for general business purposes, which will significantly expand the Group’s liquidity and will contribute to the acceleration of its investment planning and adaptation to a green and digital economy.

In the midst of adverse conditions caused by the pandemic, the above financing agreements represent a vote of confidence by Greek and international financial institutions to Attica Group’s sustainable investment and development prospects.

Attica concluded an agreement with Piraeus Bank S.A. for the issuance of a five-year common bond loan of up to EUR 55mln for general business purposes, which will significantly expand the Group’s liquidity and will contribute to the acceleration of its investment planning and adaptation to a green and digital economy.

In the midst of adverse conditions caused by the pandemic, the above financing agreements represent a vote of confidence by Greek and international financial institutions to Attica Group’s sustainable investment and development prospects.

Mar 25
12

New Ferry For French Islands

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Compagnie Vendéenne ordered a new small passenger ferry, –LA VENDÉENNE– to be delivered in April 2022.

Established in Vendée (France) since 1998, the company operates maritime links between the Yeu island and three ports:

– Fromentine – La Barre-de-Monts

– Saint-Gilles-Croix-de-Vie

– Barbâtre – island of Noirmoutier

Compagnie Vendéenne is a private company which operates 3 passenger ships from April to November.

  • Design: Mer et Design
  • Shipyard: Transmetal Industrie
  • Capacity: 250 passengers
Mar 25
12

Moving Commuter Traffic From E18 To Electric Fast Ferryboats

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Norled, Slemmestad Brygge and Brødrene Aa will move passenger traffic from the E18 motorway to the sea by developing a new transport system consisting of electric fast ferries that operate in the Oslo Fjord and near central Oslo.

The new transport solution will have a very positive environmental effect.

“If we are able to get commuters to choose fast ferryboats instead of driving, it will relieve the road network in the region, reduce noise and accidents, cut CO2 emissions and improve bus and professional traffic,” says project manager Karolina Adolfsson (Norled).

The project will start in the spring of 2021 and will be completed in 2024. The project receives support through Pilot-E, which is a collaboration between the Research Council, Innovation Norway and Enova. NOK 17 million has been allocated to Norled and Slemmestad Brygge, and NOK 13 million to Brødrene Aa for the development of the innovative solutions in the project.

The project will also develop new innovative infrastructure related to electric charging, piers, public facilities and easy transition to buses, bicycles and cars.

Mar 25
11

Hellenic Statistical Authority: Reduction 53% in total passenger traffic (Domestic-Adriatic service) in 2020

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Following the latest Q4 report of the Hellenic Statistical Authority concerning the ferry traffic volumes of 2020, the comparative traffic statistics 2019/2020 on Coastal Shipping and Adriatic service traffic are as follows:

  • Passenger ferry traffic 2020 reduced by 53% compared to 2019
  • Passenger traffic (2020) in the Greece-Italy line (only for Greek Ferry operators) reduced by 69% compared to 2019
  • Total passenger traffic (Coastal Shipping plus Adriatic Service) reduced by 53% compared to 2019
  • Passenger traffic (2020) within Greek Ports in Q3 of 2020 reduced by 39,2% compared to 2019
  • Total freight traffic decreased by 8.7% in the 3rd quarter of 2020 compared to the Q3 of 2019
  • Total mobile units traffic decreased by 45.3% in Q3, 2020 compared to Q3, 2019
Mar 25
11

INTERESTING

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Traffic Decline In Welsh Ports: New Rules Make It Very Difficult

Ken Skates MS, Minister for Economy, Transport and North Wales wrote a statement:

“According to Department for Transport data the flow of freight traffic using the routes between Wales and Ireland continues to be far lower than before the end of transition, despite UK Government statements to the contrary.”

“Volumes at Holyhead port have declined by around 50%, and volumes at Fishguard and Pembroke dock are around 40% down.  Much of this traffic has been diverted away from Welsh ports to direct routes between Ireland-EU and Northern Ireland-GB.”

“Traders, hauliers and the ports have reported that it is now more costly, time-consuming and higher risk to navigate the new processes required to cross the border between Wales and Ireland. These are not simply teething problems, but core issues with the new rules and processes that have been established since.”

“We are today publishing a 5 point plan to support Wales-Ireland Logistics and address the disproportionate impacts we are now seeing on trade using the Welsh ferry ports. We are calling on our partners in the UK Government and the Irish Government to work with us on the concrete actions that have been identified in order for us to resolve this situation for the mutual benefit of all of our nations.”

Mar 25
11

PORTS

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ULUSOY 14 Inaugurated The New HHLA PLT Italy Terminal In Trieste

Over the last weekend, roro ship ULUSOY 14 docked at the new HHLA PLT Italy terminal in Trieste.

This is the first commercial vessel calling at the new multi-function terminal headed by Antonio Barara and majority-owned by Hamburger Hafen und Logistik AG (HHLA) since the beginning of the year.

The vessel operates in regular liner service between Cesme, located west of Izmir in Turkey, and the Adriatic seaport of Trieste.

In future, Ulusoy Sealines will call at the HHLA PLT Italy terminal every Saturday to discharge and load trucks, trailers and swap body containers.

The ship has a capacity of 4,100 lane metres. The terminal has a new 35m-wide roro-ramp. It is able to handle the newest generation of ships deployed in the Mediterranean.