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2022 Newletter week 16

Apr 21
4

SEEN Conference about the Transition in the “Green” Coastal Shipping

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The Chairman of SEEN, Mr Spyridon Paschalis presented his views on the topic: “Problems and solutions for the transition in Green Coastal Shipping”, based on the latest IOBE (Foundation for Economic & Industrial Research) report, published on April 13. (Presentation, in Greek on the SEEN website)

According to Mr. Paschalis, the implementation of the “Fit for 55” package is expected to have a serious impact on ferry passenger shipping. More specifically, he predicted that:

  • Operating costs will increase by EUR 207 million in 2026
  • Ticket prices will be burdened by 30% in 2026
  • Passenger traffic will be reduced by 28% (5.4 million passengers) in 2026
  • Ferry companies’ revenues will be reduced by EUR 183 million in 2026
  • Greece’s GDP will be reduced by EUR 903 million (0.3%) in 2026
  • Almost, 29,600 jobs will be lost throughout Greece (island regions and Continental country)

He also referred to the uncertainties that come from the pressure for the direct carbonization of ferry passenger shipping such as not enough time to comply with the new regulations, the obstacles to the adoption of alternative fuels in Greece, the fact that there is no alternative fuel that works as a complete solution as well as the alternative technologies that will improve energy efficiency that are still under evaluation.
Furthermore, he proposed solutions concerning the existing fleet as well as newbuilding ferries. According to Mr Paschalis:

  1. the most affordable solution for the existing fleet is slow steaming with a negative impact on sailings and therefore on local communities
  2. Investments in equipment that will improve the Energy Efficiency of the existing fleet such as (costa bulbs, post swirl rudder fins, solar panels, LED lighting etc.) but have a significant cost
  3. Switch to alternative fuels like LNG, Methanol, hydrogen, and electricity (produced from renewable energy sources) as well as the use of biofuels
  4. Fleet renewal with newbuilding low and zero-emission vessels (ZEV)

Mr Paschalis concluded by underlying that the Hellenic Coastal Shipping will proceed with “Green” Investment projects only if there is serious support and strategy from the Greek State.

Apr 21
4

NIB finances EQT-backed Molslinjen and Torghattens’ sustainability transformation in Denmark and Norway

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NIB has signed a 7-year loan agreement with a EQT owned company to finance capital expenditures relating to electric ferries operated by Molslinjen A/S in Denmark and Torghatten AS in Norway.

The EUR 84.71 million loan, which is fully eligible to be funded by NIB Environmental Bond proceeds, will be key in realising EQT Infrastructure’s ferry capital expenditure programme during 2021-2026.

EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic floating bridge and island-to-mainland transportation infrastructure champion. The combined entity will become the leading maritime transportation company located in one of the most attractive and creditworthy regions, with a strong and resilient financial profile underpinned by robust cash flow visibility and a highly diversified route and contract portfolio.

Source: NIB
Previous post Refinancing of Torghatten and Molslinjen (April 7)
Apr 21
4

Rederi AB Gotland’s profit affected by weak tanker market

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  • Revenues increased to SEK 2,337 million from SEK 2,011 million
  • Operating profit decreased to SEK 124 million from SEK 142 million
  • Profit after financial items decreased to SEK 150 million from SEK 159 million
  • The Board of Directors proposes a dividend of SEK 8.20 per share (SEK 8.00)

This year’s revenues have increased in line with the demand for travel. The number of passengers in Gotland traffic has increased by 487,601 passengers, which is plus 40 percent compared with the previous year.

The decline in earnings is largely due to a very weak product tanker market with a significant loss during the year for Gotland Tankers AB, which also accelerated during the last four-month period.

Demand for travel to Gotland has increased after the government and the authorities eased the restrictions that were in force during the corona pandemic.

Download the annual report (in Swedish)
Apr 21
4

HSC CAT 1 of Magic Sea Ferries will be introduced at Sporades Islands on June 4th

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The newly established Magic Sea Ferries (Mr. Georgios Gialozoglou interests) announced that its fully renovated HSC CAT 1 (former ALKIONI – MarineTraffic) will be introduced on the Agios Konstantinos-Sporades Islands route as from June 4th.

The Japanese-built vessel (1994) was purchased in July 2019 and is currently undergoing an extensive refit to carry with safety 1,000 passengers and 200 cars.

According to her company, the modernized vessel will offer a fast daily service (30 knots), upgrading significantly the islands of the line.

Apr 21
4

Successful bid for Cyprus-Greece ferry link

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The deputy ministry of shipping announced on Monday that it had completed the evaluation of tenders for a ferry link between Cyprus and Greece, writes Cyprus Mail.

The winning company behind the successful bid has already been chosen, although not yet announced publicly.

A press conference where the successful bid will be announced is set to take place next week. During the conference, routes will also be unveiled as well as details concerning the fleet of ferries.

Apr 21
4

Successful year for Port of Ystad

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The Swedish port has seen a return of traffic after the pandemic.

January-December 2021

+17.5% Cargo (t) 3,376,365

+16.4% Trucks/trailers 263,918

+24.1% Buses 4,083

+15.4% Cars 734,256

+17.6% Passengers 2,373,960

+11.4% Calls 3.998

Swedish Minister for Infrastructure, Tomas Eneroth, will inaugurate the new berths on 16th of May.

Apr 21
4

Ambitious concept for green mobility of the FRS Elbe ferry Glückstadt Wischhafen

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Shortly before the state elections in Schleswig-Holstein and in Lower Saxony, FRS Elbfähre Glückstadt Wischhafen is presenting its ambitious concept for green mobility in northern Germany.

This key project for Germany envisages an expansion of the ferry line capacity to 600% and a reduction of the crossing time to 14 minutes in three steps – and this with completely emission-free traffic.

The concept of the FRS Elbe ferry offers a real alternative to the fixed A20 crossing through sustainable and environmentally friendly ferry traffic without waiting times.

For the implementation, however, the shipping company needs planning and investment security as well as political support.

1st step: building four zero-emission electric ferries: +300% capacity increase

  • larger capacity than the previous ferries
  • in cooperation with naval architects Technolog Services
  • double-ended
  • pier in Wischhafen will be relocated in the direction of the Elbe fairway and designed as a double pier. The simultaneous loading and unloading of two ferries in Wischhafen, together with the shortened route, ensures a higher frequency and number of departures
  • green electricity, which is obtained through a combined use of photovoltaic systems from open land areas and covered car storage areas as well as port operating areas. The first step brings an increase in capacity to 300%.

2nd step: pier in Glückstadt converted into a double pier: +400%

3rd step: two more zero-emission double-ended ferries can optionally be built to increase the total capacity to 600%.

Download the concept paper here (in German)
Apr 21
4

DSV plans to build new warehouses in North Sea Port

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DSV already has a logistics centre in the Flemish part of North Sea Port for the storage and distribution of goods for, among others, the health sector and the chemical industry.

On a site of 18 hectares, 100,000 m2 of sheds will be built for the storage and distribution of goods for various customers, good for 250 extra jobs. This new investment will be realized at the Kluizendok (Ghent). From here, the goods can be transported to and from the European hinterland by road transport, by seagoing vessels, inland waterway vessels or by rail.

With the new building, DSV wants to improve and expand the possibilities of its Ghent health cluster, including in the field of activities with added value (Value Added Logistics) and process automation. The building will contain temperature-controlled storage areas in ambient temperature, 2-8°C, -20°C, -40°C and -80°C, with the division into standard sized compartments allowing flexibility in use. The extra capacity will also enable DSV to enable further growth in other target groups. DSV strives to realize the most sustainable DSV warehouse in the Benelux in terms of design, construction, layout and use. In addition, DSV will invest more in multimodality through a high-quality sustainability program, whereby DSV foresees a significant increase in the use of containers via the port.

Apr 21
4

North Sea Port and Port of Gothenburg: five-year partnership

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North Sea Port and the Port of Gothenburg have signed an agreement to work closely together. Setting up a network of medium-sized European ports and working on energy management in the ports are central to this.

The ports have things in common: the Volvo Car factories that are located in both ports, and the daily roro ships from DFDS, sailing between Gothenburg and Ghent.

The ports want

  • to strengthen their commercial interests and support the flow of goods between the two ports
  • to share knowledge in the field of energy management in the port. This concerns the introduction of renewable energy sources, environmental management and sustainable port management. To this end, research into further digitization will be carried out. In this context, the ports will exchange employees in the future.
  • to check whether they can jointly submit projects for European financing in the fields of sustainability, energy transition, digitization, and the European transport network.

The agreement was signed during a visit by North Sea Port to the Port of Gothenburg on Wednesday 20 April.