Category

2021 Newsletter week 21

May 27
2

Ferry Shipping

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Good News for Truckers: A Ferry Departure Every 36 Minutes

DFDS and P&O Ferries have entered into a mutual space charter agreement on the Dover-Calais ferry route.

Ferry Shipping News understands this has been under consideration for a long time.

Truck drivers will be able to board the next available sailing on the Dover-Calais route, regardless of which of the two companies is operating the crossing.

It will reduce the time drivers spend waiting at the ports, giving them access to a departure every 36 minutes and reducing gate-to-gate journey times by an estimated 30 minutes.

All commercial activities and relationships with freight customers remain entirely under the control of each operator. The Dover-Calais agreement is similar to space charter agreements entered into by DFDS on routes on the North Sea, the Baltic Sea and in the Mediterranean.

The new agreement is for freight vehicles only and does not apply to sailings on the DFDS Dover-Dunkerque route

DFDS operates three ropax ferries between Dover and Calais (and 3 on Dunkerque):

  • COTE DES FLANDRES
  • COTE DES DUNES
  • CALAIS SEAWAYS (to be replaced by newbuilding COTE D’OPALE).

P&O Ferries operates five ropax ferries on Dover – Calais:

  • SPIRIT OF BRITAIN
  • SPIRIT OF FRANCE
  • PRIDE OF CANTERBURY
  • PRIDE OF KENT
  • PRIDE OF BURGUNDY

The agreement is expected to start during the summer.

The Port of Dover has welcomed the announcement “as a powerful statement of returning focus to driving the unrivalled benefits of the Dover-Calais crossing: to preserve and maximise the unique advantages of high pace, frequency and capacity provided to supply chains on the shortest sea crossing between the UK and its principal global trading partner – the EU.” [Statement Port of Dover]

May 27
2

Moby Submitted A Plan To Save Tirrenia CIN: Five Ferries For Sale

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Last Monday (May 24th), Moby filed a ‘concordato’ proposal for its subsidiary CIN (Tirrenia) as no agreement was found with the main creditor, i.e. the judicial administrators of Tirrenia AS, which is in extraordinary administration.

CIN owes EUR 180 million in unsecured debt (deferred payment) for the acquisition of the former public company Tirrenia from the Italian state in 2012.

The procedure will be therefore similar to the one selected also for Moby group since an out-of-court restructuring plan with the ad hoc group of bond holders was not reached either.

According to the plan submitted for Tirrenia CIN to the Court of Milan and exclusively revealed by news site Shipping Italy, five ferries are expected to be sold before 2025 (*)

Moby’s subsidiary is offering a 20% minimum guaranteed recovery to its unsecured creditors and the recovery could increase up to 35%. The repayment would take place at the earliest date of either 31 December 2025 or 36 months after the ‘concordato’ preventive homologation.

(*)

High-speed vessel ISOLA DI CAPRAIA is scheduled for sale in 2022, EUR 1.9 million

  • Roro BENIAMINO CARNEVALE in 2022, EUR 6.8 million
  • Ropax BITHIA in the same year, EUR 29.5 million
  • Ropax JANAS in 2024 for EUR 29.5 million
  • Ropax ATHARA also in 2024 for EUR 32.5 million
May 27
2

Fjord1 Increased EBITDA Margin In Q1

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  • -8% Revenue (NOK 691 million) because of the phasing out of one ferry contract and lower revenue in the Catering segment due to the pandemic.
  • +2% EBITDA (NOK 198 million)
  • EBITDA margin increasing to 29% from 26% The improvement in margin reflects lower operating costs for the electric vessels.
  • Investments amounted to NOK 124 million in the first quarter.
  • Net interest-bearing debt (NIBD) stood at NOK 5,400 million as of 31 March, a decline of NOK 103 million from the close of 2020.
  • Fjord1’s long-term contract portfolio, is worth NOK 21.2 billion

Outlook

Fjord1 is confident that there will continue to be a strong demand for safe, environmentally-friendly and reliable transport in coastal regions in the future. Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.

The company expects more moderate revenue growth in 2021, with cost improvements continuing to support operating margins.

Source: Fjord1
May 27
2

Brittany Ferries Will NOT Open A New UK – Portugal Route This Summer

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The decision to re-open Spain to British tourists, combined with falling Covid cases and rapidly rising vaccination rates in the country, means opening a new Porto route is no longer commercially viable.

Brittany Ferries hope and expect Spain to be placed on the UK’s green list at the first review in early June and for that reason they took the decision to shelve the plan.

Last week, Spanish authorities confirmed the country would open for tourism from Monday 24 May and that Brits would not need to take a PCR test before arrival.

“We have been overwhelmed by messages of support from existing passengers, new customers and via social media urging us to sail to Porto,” said CEO Christophe Mathieu. “Portugal? Never say never.”

May 27
2

Call for Companies Interested in Operating the Civitavecchia – Arbatax – Cagliari Line for Six Months

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Following a public tender for the maritime continuity on the Civitavecchia – Arbatax – Cagliari which recently failed to obtain participants, the Italian transport ministry decided to release a call for shipping companies interested at operating the line for a short period of time: from July 1st to next December 31st.

It will be a ‘negotiating procedure’ and the selected ferry companies will be paid at least EUR 17.24 million. At least because any potential difference between revenues and costs will be fully refunded by the Italian State.

Ships not older than 20 years and with at least an 800-passenger capacity and 820 lane meters are requested.

Deadline for submitting offers is May 31st.

May 27
2

Godby Shipping : About The RoRo Market

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The Godby Shipping Newsletter gives some interesting insights:

  • The roro market reached its peak end 2018 – beginning 2019 and then gradually declined during 2020 and early 2021.
  • On the demand side there was a combination of uncertainty regarding Brexit, a trade conflict between USA and China and early signs of a general economical downturn.
  • On the supply side there was pressure coming from the relatively large orderbook for roros.
  • The roro market is a lot better than a year ago but some of the contracts will lock in low or very low rates at least until end 2021.
  • Profitability will therefore be affected by the spring 2020 market collapse for years to come.
  • Godby thinks that the roro market will be relatively weak – but hopefully rising – during the whole year 2021 and probably also 2022.

Charters:

  • BALTICA: Sea-Cargo did not declare the optional periods. Instead, chartered to TransProCon for military shipments on the Mediterranean Sea for the period May – June. (afterwards sold to Salamis – see below)
  • MISTRAL contract with Smyril has been extended until September 2021 with options for to extend until December 2022
  • BALTIC BRIGHT: charter contract with Holmen
  • LINK STAR UPM-Kymmene until May 2021
  • MIDAS Accordia Shipping until December 2021
  • MIMER CMA CGM December 2021
  • MISANA and MISIDA Sea-Cargo December 2021 + options
May 27
2

Salamis Lines Purchased RoRo BALTICA

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Cypriot-based Salamis Lines signed an agreement for the purchase of the roro BALTICA from Godby Shipping.

The ship is expected to be delivered in Piraeus, 25 July 2021 after the termination of her charter to the Swedish Trans Pro Con.

Salamis Lines is also operating her close sisters ALEXO (since 2017) and AKRITAS (since 2019) on the Greece-Cyprus-Israel route.

May 27
2

SHORT NEWS

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BLUE STAR MYCONOS Back In Service On June 16

BLUE STAR MYCONOS: scrubber conversion is almost completed.

Photo: Christos Chatzaras

HSC PAROS JET Introduced On Sitia-Dodecanissa On May 23

Seajet’s HSC PAROS JET has been introduced on the subsidized Sitia – Kassos – Karpathos – Halki – Rhodes line on May 23. She departs from Sitia three days a week, while on Sunday she goes to the port of Diafani as well.

Norway Is Gradually Re-opening: Color Line Can Start Non-Landing Mini-Cruises

The new rules from the Norwegian Government allow Color Line to offer return trips from Oslo, without going ashore in Kiel.

The ships can also take professional freight drivers.

The return trip starts with COLOR MAGIC (9 June) and COLOR FANTASY (24 June).

CEO Trond Kleivdal sees it as a positive signal and hopes that the borders to the Nordic countries will open soon.

STENA EUROPE Has Technical Problems

Due to ongoing repair work to the STENA EUROPE at dry-dock, it has been necessary to cancel sailings up to Thursday 3rd June. Fishguard-Rosslare service has been suspended.

 

Trelleborg Is Preparing For Nils H.

Port of Trelleborg is adapting one of its berths with a new side ramp for TT-Line’s upcoming 230m vessel, to be put into operation in 2022.

 

Spirit Of Tasmania Looks For Local Suppliers

TT-Line Spirit of Tasmania is seeking Expressions of Interest from Tasmanian/Australian based companies for the provision of local goods and services for its new vessels which will be delivered in 2023 and 2024.

 

ARK DANIA on Vlaardingen-Immingham

DFDS roro ship ARK DANIA is no longer sailing Dunkerque-Rosslare with unaccompanied freight. Instead, the vessel is operating on Vlaardingen-Immingham.

At the end of May, the charter of La Méridionale’s PELAGOS will end. The vessel will return to the Med. It is not known if DFDS will replace her with another vessel.