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2021 Newsletter week 17

Apr 29
3

Duty Free’ Boosts Stena Line’s Shop Sales By Over 80%

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  • Stena Line’s revenue from its onboard shops for Q1 has shown a large increase on its routes between the UK and the EU compared to the same period last year.
  • The growth is due to ‘Duty Free’ sales. Following Brexit, ‘Duty Free’ sales are permitted onboard ferry routes between the UK and the EU.
  • Highest increase on Irish Sea routes.
  • Sales of alcoholic drinks highest with popular brands leading the way.
Read more (Stena Press Release)
Apr 29
2

A Tunnel Connecting Finland And Estonia?

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  • 26 April 2021, Finland’s Minister of Transport and Communications and Estonia’s Minister of Economic Affairs and Infrastructure signed a MoU on cooperation between the two countries in the transport sector.
  • The urpose of the MoU is cooperation in the transport sector and exchange of information between the countries in order to promote large-scale transport projects, such as the Helsinki-Tallinn tunnel, Rail Baltica, Trans-European Transport Networks, and North Sea-Baltic Sea core network corridor.
  • The MoU provides an improved environment for applying EU funding for the projects.
Read more (Finnish Government)
Apr 29
2

DFDS’ 2021 Outlook Raised After Stronger Start Of The Year

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  • EBITDA outlook raised from DKK 3.0-3.5bn to DKK 3.2-3.6bn for 2021
  • Reason: stronger than expected freight results in most business units. There was as anticipated a considerable slowdown in volumes linked to the UK in January following the UK stockbuilding in Q4 2020. Since then, volumes have recovered faster than expected.
  • Uncertainty remains high and significant changes to outlook assumptions may still occur in the rest of the year.
Apr 29
2

Positive Liquidity For Color Line

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  • Color Group has in April 2021 received a firm offer in the amount of NOK 150 million from the state guaranteed loan scheme through DNB Bank and GIEK.
  • 3-year loan with installments commencing after one year.
  • Color Group has also through March and April 2021, realized gains for most of
    the remaining future hedged bunker fuel contracts with a total positive cash
    effect of approximately NOK 65 million.
  • Color Group AS has successfully completed a NOK 300 million tap of its perpetual hybrid bond with ISIN NO 0010893340 at a price of 101% of nominal amount. The tap issue was substantially oversubscribed. Net proceeds from the new bond issue will be used for general corporate purposes.

Together with the previously announced NOK 150 million loan facility from the
state guaranteed loan scheme through DNB Bank and GIEK and approximately NOK 65 million from realization of bunker hedges this sums up to a positive liquidity effect of NOK 515m for Color Group AS.

Apr 29
2

Port of Piraeus PPA S.A.: Financial results 2020

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Port of Piraeus PPA S.A.: Financial results 2020

At the recent annual briefing of PPA S.A. to the Hellenic Fund and Asset Management Association regarding the results of Piraeus Port Authority S.A. (PPA S.A.) for the year 2020 it was underlined that:

  • the Company proceeded with contracting of investments amounting to € 211.7 million
  • the turnover amounted to € 132.9 million
  • the profit before taxes amounted to € 36.9 million
  • and profits after taxes amounted to € 26.4 million.
Apr 29
2

ThPA S.A.: Financial Results 2020

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On April 21st, 2021, the Board of Directors of Thessaloniki Port Authority S.A. approved the 2020 Annual Financial Report for the Fiscal Year 2020 financial results and activity of the port resulting in increased revenue and profit.

More specifically:

  • The total revenue increased by 4% (€ 71.7m) mainly due to the results at the Container Terminal.
  • Revenue increased by 11.3% (€ 49,7m)
  • The Conventional Cargo Terminal results decreased in total volumes by 16.3% while the Conventional Port revenues reduced by 9.3%.
  • Gross Profit increased by 5.3% (€ 33.9m)
  • Net Profit after tax increased by 22.1% (€ 20.10m).
Apr 29
3

Rederi AB Gotland Starts Technology Company ‘Gotland Tech Development’

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Rederi AB Gotland starts a technology development company called Gotland Tech Development. The new company will drive the development towards more sustainable technology solutions and a maritime transport system without carbon dioxide emissions. The company aims to work partner-based with a focus on new technology development for maritime industries but will also look at broader collaborations in the transport, energy and fuel areas.