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2021 Newsletter week 33

Aug 19
4

DFDS Q2: Solid Growth in Freight Volumes – Strong Performance Mediterranean

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Key figures:

  • Revenue 4,213 DKK m (2,798 in Q2, 2020 and 4,241 in Q2, 2019)
  • EBITDA before special items 897 DKK m (507 in Q2, 2020 and 989 in Q2, 2019)
  • Profit before tax 328 DKK m (11 in Q2, 2020 and 456 in Q2, 2019)

Highlights

  • The growth was driven almost entirely by the freight activities, i.e. freight ferry and logistics.
  • Mediterranean continued its strong performance, delivering app. 50% of the Group’s total profit increase.
  • Passenger volumes remain impacted by travel restrictions.

Outlook 2021 unchanged

  • EBITDA of DKK 3.2-3.6bn
  • Revenue growth of 20-25%
  • Passenger travel is picking up slower than expected

Market Overview

The European freight market stabilised and growth picked up during Q2 following the Brexit transition that impacted Q1 2021.

The current growth in the freight market, however, exceeds capacity due to shortages of truck drivers and equipment, particularly in the UK. This has led to a rise in haulage costs, longer lead times and less reliable supply chains as well as congestion in some ports. The market imbalance is expected to continue in Q3.

The UK will phase in full import border controls by 1 January 2022, including pre-notification requirements for products of animal origin by 1 October 2021.

Trade between the EU and Turkey continued to grow as the depreciation of the Turkish Lira, continued to benefit Turkish exports. The Turkish economy is expected to continue to grow, primarily driven by the export sector.

Remark

The Dover-Calais space charter agreement with P&O Ferries is expected to become operational around 1 October 2021. It will result in shorter waiting times for truck drivers.

To access the full report, click on the image below:

Aug 19
4

Republic of Ireland: 71% of RoRo Traffic is now Unaccompanied

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The Irish Maritime Development Office published its quarterly report:

  • In Q2 2021, RoRo volumes through ports in the Republic of Ireland (ROI) were consistent with those in Q2 2019.
  • Between April and June, 291,437 RoRo units were handled at Dublin, Cork and Rosslare Europort, just 0.2% less than the same period in 2019. However, the configuration of RoRo traffic in terms of route choice and shipping mode has been significantly altered compared to 2019.
  • 71% of all Republic of Ireland (ROI) RoRo traffic is now unaccompanied, compared to 63% in Q2 2019.
  • One third of all RoRo traffic in the Republic of Ireland now operates on direct routes to ports in the European Union, twice the share held in Q2 2019.
  • Irish importers and exporters have benefitted from a significant increase in the choice of direct EU services in 2021. After responding to a surge in ‘direct demand’, there are now 12 different direct EU RoRo services available to Irish traders, compared to 5 in 2019 (2).
  • In Northern Ireland, RoRo traffic in Q2 2021 was the busiest on record, with traffic rising by 11% when compared Q2 2019. Of the three Northern Ireland RoRo ports, Belfast and Warrenpoint both recorded their busiest ever three-month period, with Larne also recording robust growth.
  • Brexit has had a significant effect on RoRo traffic on the island of Ireland. Demand for the UK Landbridge has fallen considerably, and this has driven the simultaneous decline in ROI – GB traffic and increase in direct ROI – EU traffic.
  • In addition to the Landbridge issue, some RoRo traffic has also been ‘transferred’ away from ROI – GB routes and towards NI – GB routes. RoRo services at ROI ports have historically been utilised by many NI hauliers wishing to access markets in the midlands and southeast of England. From early 2021, it was clear that haulage companies based in Northern Ireland had transferred some traffic away from RoRo services in ROI in order to avoid the new customs requirements involved between Ireland and UK ports.
Read the IMDO report here
Aug 19
4

Government of Canada announces a five-year extension of the Ferry Services Contribution Programme in Eastern Canada

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In support of ferry services in Atlantic Canada and Eastern Quebec, the relevant ministers announced the renewal of the Ferry Services Contribution Program for five years until March 31, 2027.

This renewal means that there will be continued services between:

  • Saint John, New Brunswick and Digby, Nova Scotia, operated by Bay Ferries Ltd (BFL);
  • Wood Islands, Prince Edward Island and Caribou, Nova Scotia, operated by Northumberland Ferries Ltd (NFL);
  • Îles-de-la-Madeleine, Quebec and Souris, Prince Edward Island, operated by CMTA.
Aug 19
4

GNV and Grimaldi Holding Signed a Bareboat Charter for RoPax Vessels FORZA and TENACIA

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  • GNV and Grimaldi Holding signed a 3-year bareboat charter for FORZA and TENACIA.
  • Option 1+1 years
  • Both ferries have been operating 10 months for GNV, in sub-charter from Trasmediterranea.
  • Ferry Shipping News understands that, practically, it will be an extension of the current charters, even if this new agreement involves directly Grimaldi Holding and MSC-controlled GNV.
  • Daily rates for each bareboat charter should be around EUR 15,000 and there are no purchase options.
  • TENACIA and FORZA both have capacity of 2,000 lane meters and 1,000 passengers and are currently deployed on the routes linking Italy mainland to Sicily and Sardinia.
Aug 19
5

Adria Ferries Sold the Aged Ferry AF FRANCESCA to Libyan Buyers

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  • Ancona-based company Adria ferries, part of the Frittelli Maritime Group controlled by Alberto Rossi, has just sold the 1979-built ship AF FRANCESCA (ex DOMIZIANA).
  • Some sources revealed to Ferry Shipping News that the vessel was assumed to be bound for ship recycling while at the end it was sold to Libyan buyers and will go on operating.
  • It’s still unknown whether this North-African player is the same buyer of the SARDINIA REGINA recently sold by Corsica Ferries.
  • AF FRANCESCA has been operating for many years on the routes between Ancona and Bari to Durres, in Albania after Adria Ferries bought it from Tirrenia in 2011.
  • Main characteristics are: 150m length, capacity for 2,000 pax and 750 lane metres.
Aug 19
4

Westcon Yards Wins Fjord1 Contract

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  • Cargo handling increased by 8.25 % in H1
  • Of the 100,000 trucks and trailers handled, more than half were unaccompanied for the first time.
  • The largest increases were recorded on the routes to Gothenburg and to Klaipeda. In total, 3.66 million tonnes of freight were handled in Kiel in the first half of the year.
  • The strongest part the Ostuferhafen with the forest products and logistics centre. (DFDS: 9 departures / week).
  • Restart in June of Kiel – Oslo route by Color Line.
Aug 19
4

Significant Volume Growth in the Seaport of Kiel

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  • Cargo handling increased by 8.25 % in H1
  • Of the 100,000 trucks and trailers handled, more than half were unaccompanied for the first time.
  • The largest increases were recorded on the routes to Gothenburg and to Klaipeda. In total, 3.66 million tonnes of freight were handled in Kiel in the first half of the year.
  • The strongest part the Ostuferhafen with the forest products and logistics centre. (DFDS: 9 departures / week).
  • Restart in June of Kiel – Oslo route by Color Line.
Press Release
Aug 19
4

Port of Valencia Starts to Work on the New Passenger Terminal Project

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  • In the next few days, the project for the refurbishment of the site of the old shipyard of the Port of Valencia will be published with a tender budget of around 900,000 euros
  • It will also contemplate the recovery of reusable materials to be sold for an estimated value of more than 400,000 euros
  • The new public passenger terminal will be a model infrastructure in terms of the environment, sustainability, accessibility and intelligence, at the service of the city
  • According to the PAV project, which included contributions from the València city council, the passenger station will operate with zero polluting emissions and will be committed to the circular economy.
  • It will be located between the Muelle de Poniente and the Muelle Perfecto Palacio in the area previously occupied by the Unión Naval de Valencia shipyard (100,000 square metres).
  • The design will maintain the four elements of the old shipyard catalogued by the Demetrio Ribes Chair of Industrial Archaeology.
  • The new passenger terminal is intended to serve cruise traffic, regular lines with the Balearic Islands and Algeria, as well as ro-ro traffic.
  • Bid submitted by the ferry company Baleària.