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2022 Newsletter week 29

Jul 21
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DFDS’ 2022 Outlook Raised After Strong Q2

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  • DFDS’ outlook for 2022 has improved following a strong recovery in passenger earnings in Q2. In addition, freight ferry volumes and earnings were higher than expected.
  • EBITDA outlook raised to DKK 4.4-4.8bn from DKK 3.9-4.4bn for 2022
  • Revenue growth outlook raised to around 35% from around 30%
  • Demand for freight and passenger services is expected to remain robust in the next couple of months. This demand may, however, be dampened later in 2022 by a slowdown driven by developments in the macro environment and by supply chain constraints.
  • Uncertainty remains elevated and significant changes to the outlook may therefore still occur.
Jul 21
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LMG Marin designed battery powered ferry RYFYLKE has been delivered

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Electric ferry RYFYLKE, designed by LMG Marine and built at the Westcon Yard in Ølen, Norway, entered service.

RYFYLKE is a hybrid ferry built in aluminum. With a battery capacity of 4,000 kilowatt hours, it will serve the many Ryfylke Islands on the connection between Nedstrand and Stavanger.

  • Fully redundant battery propulsion
  • Aluminium hull
  • Redundancy with bio diesel
  • Energy efficient hull
  • Car capacity: 27 units
  • Trailer capacity: 2 units
  • Passenger capacity: 96 pax
  • Class DNV +1A1 LC Car Ferry B Battery(Power) R4[nor] E0

LMG Marin says on their Linkedin: “we are quite proud of it because of its very specific operational profile with multi-stops in electricity-grid secluded communities out of Stavanger. As a result ,the ship will ensure a full day of service on an overnight charge performed at its base port. We believe RYFYLKE features the largest battery pack on a 45m ferry.”

Jul 21
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Public tender launched for highspeed maritime link in the Strait of Messina

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  • Invitalia and the Italian transport ministry launched a new tender to award the highspeed maritime transport services in the Strait of Messina between the ports of Reggio Calabria and Messina.
  • Public subsidies are worth roughly EUR 35 million for five years.
  • Ships aged up to 30 years are accepted, capacity must be for 250 passengers and 28 knots is the requested speed.
  • Up to 16 round trips from Monday to Friday (6 in weekends)
  • Half an hour to cover 18.1 miles distance with hydrofoils or highspeed craft.
Jul 21
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Majority of voting creditors said yes to Tirrenia Cin’s debt restructuring plan

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Moby Spa announced that “following the agreements reached with the main creditor of its

subsidiary CIN Spa, Tirrenia di Navigazione in Extraordinary Administration (Tirrenia in

A.S.), the Paraconcordatario Agreement was signed on July 14, 2022, the effectiveness of which is subject to the homologation by the Court of Milan.”

With the vote favourable expressed by Tirrenia in AS on the CIN Composition Plan both the

majority of voting creditors up to 96% and the majority of the voting classes of creditors were obtained, Moby specified.

Jul 21
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Farewell to Vittorio Morace, founder of Ustica Lines (today Liberty Lines)

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Vittorio Morace, founder, and former chairman of the ferry company Liberty Lines (ex Ustica Lines), died at the age of 81.

He was born on May 21st, 1941, and during his career he has been probably the most important shipowner of highspeed vessels.

He started buying his first cargo ship in the 70’s and few years later was appointed managing director of Alilauro. In the 80’s he moved to Spain and there inaugurated the highspeed link to and from the Canary Islands. In the last decade of the past century, he was called from Carlo Rodriquez to take the helm of SNAV.

At the end of the ‘90s, Vittorio Morace founded Ustica Lines which is today the largest company in Italy active with highspeed craft to and from Sicily but also on the routes linking Italy to Croatia and Greece.

His sons Ettore Morace is CEO of the Spanish company Transmed Gle (part of Grimaldi Group) while Gianluca Morace heads BluNavy in Italy.

Jul 21
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Talks between Westerschelde Ferry and the Province of Zeeland about new ferries

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Westerschelde Ferry, the Dutch ferry company linking Breskens and Vlissingen in the River Scheldt estuary, and the provincial authorities, have started to talk about new ferries.

In fact, the replacement was only scheduled for 2033 but to continue to offer reliable services, new ferries will be needed sooner.

The company operates two passenger/bicycle ferries: PRINSES MAXIMA and PRINS WILLEM ALEXANDER.

Jul 21
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Port of Antwerp-Bruges: slight growth in the first half of the year

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  • The total throughput of Port of Antwerp-Bruges was 147.2 million tonnes in the first six months of this year, an increase of 1.4% compared to the same period last year.
  • Given the current geopolitical and macroeconomic context, this slight growth, despite a decline in the container segment due to ongoing global congestion problems, confirms its strengthened position as a unified port.
  • Container throughput is down 9.8% in tonnes and 6.2% in TEU compared to a strong first half in 2021. With globally disrupted container liner shipping, vessel delays and high volumes of import cargo, the container trade continues to face operational challenges. Moreover, the throughput of containers related to Russia decreased by 39% due to the conflict in Ukraine.
  • Conventional general cargo grew strongly by 22%.
  • Roro traffic saw an increase of 8.9%. RoRo traffic to the United Kingdom and Ireland shows significant growth, with 3.8 million tonnes and 0.6 million tonnes respectively, up 6.8% and 47%. The number of new and used cars shows a slight growth of 2.5% and 1.7%, while the number of trucks decreased by 19%.