New ferry line between Norway and The Netherlands

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April 2022 will see the start of a new ferry connection between Port of Kristiansand (Norway) and Eemshaven (The Netherlands).

  • Name of company: Holland Norway Lines (HNL)
  • HNL’s CEO: Bart Cunnen – CFO: Patrick America
  • Terminal in Eemshaven: 6-8 ha, a special roro-quay will be constructed.
  • Ship: ROMANTIKA, 3-year (+1y+1y) bareboat charter from Tallink.
  • Frequency: 3 return trips per week
  • Departure 3:00 PM – Arrival 9:00 AM
  • The initiative Holland Norway Lines is realized with the support of Groningen Seaports, the Northern Development Agency (NOM), the province of Groningen and the municipality Hogeland.
  • Holland Norway Lines was founded in 2020.

The contract for chartering ROMANTIKA is the sixth charter contract for Tallink Grupp in the space of the last six months, with SILJA EUROPA and ROMANTIKA both recently being chartered out short-term to provide accommodation at COP26 in Glasgow

The Riga-Stockholm route which is due to re-open in spring 2022, will be operated by Tallink’s vessel ISABELLE.

Change of ownership will help to achieve Boreal’s sustainable ambitions

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Boreal is the fourth largest public transport operator in Norway. It has been owned by several funds:

2011-2018 Cube Infrastructure Fund (Luxemburg)

2018-2021 Everbright Overseas Infrastructure Investment Fund (China)

2022 (no later than end of January): Vauban Infrastructure Partners (France) will acquire Boreal Holding AS.

Vauban is a company affiliated with Natixis Investment Managers, and has a long-term strategy for sustainable infrastructure investments.

Vauban manages around € 6 billion and has invested in over 60 companies in mobility, energy conversion and social and digital infrastructure across 10 different areas.

Boreal continues the work on the green shift with full force, and currently has 10 emission-free vessels and 55 emission-free buses under construction.

Vauban will help Boreal to achieve its ambition for further growth in the mobility sector.

Tallink Q3: first quarterly profit since the start of the COVID pandemic

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“It is the first ray of light we have seen after a period where we have made a net loss of more than EUR 151 million in roughly a year and a half,” says Tallink Grupp’s CEO Paavo Nõgene. “We have unfortunately just reached the low season and the high COVID rates in Estonia and Latvia, in addition to the challenging employment market and high fuel prices, are all indicating it will be yet another tough winter ahead.”

Q3 Results

  • Unaudited net profit EUR 5.5 million (net loss of EUR 23.9 million in Q3 2020)
  • EBITDA EUR 35.1 million (EUR 5.7 million in Q3 2020)
  • +18.6% Unaudited revenue EUR 170.5 million (EUR 143.7 million in Q3 2020).
  • The biggest contributors to the revenue increase: onboard restaurant and shop sales, ticket revenue and charter revenue

During the third quarter of 2021, the company strengthened its liquidity position by taking out the loan from the Nordic Investment Bank and carrying out an additional shares emission of the company’s stock in early September. This has enabled the company to secure new capital, creating a strong liquidity buffer for the challenging low season ahead. The total liquidity buffer as at 30 September 2021 amounted to EUR 252.5 million (EUR 115.0 million at 30 September 2020).


  • In the first 9 months, the Group’s unaudited revenue decreased by 14.7% and amounted to EUR 310.3 million.

Unaudited EBITDA for the first 9 months was EUR 33.2 million (EUR 6.9 million

Viking Line: Operating income improvement of EUR 65 million

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  • Revenue EUR 97.5 million (EUR 56.6 million)
  • Operating income EUR 26.0 million (EUR -7.8 million)
  • Q3 results were characterized by a steady increase in demand in the passenger segment and continued stable demand for cargo transport.


  • Revenue EUR 169.0 million (EUR 154.2 million)
  • Operating income EUR 30.5 million (EUR -35.2 million)
  • Income before taxes EUR 27.1 million (EUR -38.3 million)
  • Income after taxes EUR 22.7 million (EUR -30.8 million)

The outlook for the financial year 2021 is unchanged compared to the Half-Year Report as of June 30, 2021, which means positive operating income for the full-year 2021.

An Extraordinary General Meeting, to be held on November 22, will decide to issue new shares to strengthen the capital structure as well as the financial and liquidity position.

The goal is to raise 50 million in equity.

The subscription price would indicatively be EUR 8.00 per share and shareholders of the Company would be entitled to subscribe for 3 new shares for each five 5 shares held by such shareholder.

Brexit impacts on Dublin Port clear to be seen after nine months

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  • Port of Dublin says in its Q3 report that core freight and container volumes from Britain declined by 21.2% to 537,680 units between January and September this year (Holyhead, Liverpool and Heysham).
  • In contrast, volumes on continental European, direct routes increased by 36% to 522,765 units. (Mainly Rotterdam, Zeebrugge, Antwerp and Cherbourg).
  • Containers and trailers in the RoRo and LoLo modes – the largest part of Dublin Port’s business – declined by just -0.5% to 1,060,445 units but with very different trends between the two modes:

RoRo -6.6% (707,212 units)

LoLo +14.4% (353,233 units)

  • Behind the different trends in Ro-Ro and Lo-Lo, there has also been a large and consistent change in the geographical mix of Dublin Port’s trade since the introduction of Brexit border controls in January 2021.
  • As a result, unitised volumes on routes to Great Britain now account for just over one half (51%) of all unitised trade where, before Brexit, they accounted for approaching two-thirds (64%).
  • Allied to this, the proportion of RoRo units which are driver accompanied (181,605 after nine months) has fallen from 32% to 26%.
  • Dublin currently has two shipping lines looking to commence services. They cannot be accommodated. Dublin has a short-term and a long-term plan.

Smyril Line closes salmon route and adds a new direct shipping route to Rotterdam

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After a year operating the “salmon route”, Smyril Line Cargo is putting sailings on hold.

It was roro vessel AKRANES that operated the route from Central Norway to the Netherlands since summer 2020.

AKRANES will now be servicing a new route between Thorlakshøfn, in Iceland´s West coast, Tórshavn, and Rotterdam.

The new route gives Icelandic and Faroese exporters new options with departures Wednesday evenings from Iceland and Thursday evenings from Tórshavn direct to Europe.

SEEN’s Michalis Sakelis about the Greek ferry scene

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Michalis Sakelis has been interviewed by the Athens News Agency, for the 100 years of the Business Association Passenger Shipping (SEEN).

Most notable points of the interview:

For the recovery of tourism

  • Despite the fact that until 13 May 2021 the conditions were not clear, tourism recovered significantly, proving the dynamics of Greece as a tourist destination and creating a climate of optimism and positive prospects for recovery in 2022.
  • Compared to 2020, passenger traffic in 2021 (period: first 10 months) increased by 30%, cars by 32% and trucks by 11%. However, compared to 2019, passenger traffic remains low and reduced by 40% in passengers (53% in 2020), by 15% in cars and 12% in trucks.
  • There is still a long way to go before ferry operators reach the 2019 traffic, which is a target for both tourist and ferry traffic, including Adriatic routes.
  • The increase in traffic —compared to 2020— is mainly due to the Cyclades.
  • The increase in revenues in 2021 is not enough to cover the increase in fuel costs (estimated average increase of 2021 by 35% compared to 2020), therefore ferry companies do not expect differences in the financial loss-making results in relation to 2020.

About the increases in the Public Service Contracts

  • The increased funding of the Public Service routes was positive and necessary. However, the Ministry of Shipping should clarify that the funds available for Public Service routes are compensations and not state aid or subsidies.
  • That increased funding does not aim at the strengthening of Ferry Companies but at the increase of the sailings and the improvement of the coastal services —mainly to small islands— during the period of the pandemic.

About a possible increase in ferry tickets

  • Compared to 2020, fuel prices are almost doubled and expected to increase by an average of 35% in 2021.
  • The increase in fuel costs, which is the most important factor in the ship’s operating costs (50%), creates pressure to increase fares. However, that is not always a solution because traffic is reduced.

About the Port Infrastructure

  • The Ports Infrastructure problems are already pointed out with detailed reports by the Masters’ Union.
  • The Minister of Shipping has already announced the funding of 44 planned projects at a cost of EUR 195,21 million, as well as studies and interventions of EUR 200 million.

About the Hellenic Coastal fleet renewal

  • Coastal shipping has to face two major challenges in the coming years: environment and an ageing fleet.
  • Due to the seriousness of the issue, but also the island character of Greece, these issues are of particular importance and must be addressed seriously and carefully in steps at both National and European level.
  • Ferry Operators waiting for the completion of the studies of the Hellenic Naval Chamber, in which the Association participates as well, for the renewal of the coastal fleet.
  • Studies are also prepared by SEEN both on the effects of the new regulations on the tourist traffic and the development of the islands, as well as on technical and institutional issues related to the electrification of ships.

About the three (3) newbuilding state-of-the-art catamarans of Attica Group

  • In 2022, the introduction of the three new high-speed crafts will upgrade services in the Saronic Gulf with new modern and environmentally friendly ships.
  • This investment is the first step, considering the period that is taking place, for the renewal of the Greek Ferry Fleet.

Overview Godby Shipping charters

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  • MISTRAL: Smyril Line has extended the charter contract until December 2022.Mistral is running on the route between Hirsthals, Torshavn and Thorlakshöfn (Iceland).
  • MISANA and MISIDA on charter to Sea-Cargo until 2026.
    MIDAS on charter until 2024 for CMA CGM
  • BALTIC BRIGHT on charter to UPM until December 2021 and thereafter starting to trade for Holmen.

The Swedish Energy Agency grants project support for the electrification of two Gotland ferries

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Gotland Tech Development, a subsidiary of Rederi AB Gotland, has together with partners Helios Nordic Energy, METS Technology and ABB been granted support (SEK 1,238,750) by the Swedish Energy Agency to investigate how a partial electrification of Destination Gotland’s two LNG vessels can be carried out.


  • Electrifying large, fast ships
  • Heavily constrained grid on the island of Gotland
  • Use of solar energy
  • More electric cars will also require charging during transit. This requires additional battery capacity and will also be included in the study.

Grimaldi doubles roro cargo capacity on the Ravenna – Brindisi – Catania link

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Grimaldi Euromed moved two of the most modern roro ships (GG5G class) from the Thyrrenian to the Adriatic Sea.

ECO CATANIA and ECO LIVORNO were recently delivered from Jinling shipyard and deployed up to now on the routes between Italy (Livorno and Savona) and Spain (Barcelona and Valencia).

As from this week (44) both units are active on the Ravenna – Brindisi – Catania link, thus doubling the capacity (500 trailers each). Previous vessels were EUROCARGO SICILIA and EUROCARGO CATANIA. The latter are now active on the Salerno – Catania route.