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2022 Newsletter week 49

Dec 09
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Stena AB’s Q3 Report for 2022

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For the nine-month period ended 30 September 2022:

  • Consolidated revenue: SEK 38,422 (26,742) million.
  • Consolidated EBITDA: SEK 10,551 (6,116) million. The operational EBITDA was the strongest in the Group’s history.
  • Consolidated EBITDA, excluding net gain/loss on sale of assets, operations and change in fair value of investment properties: SEK 9,561 (5,022) million.
  • Result before taxes: SEK 1,840 (12) million

Ferry operation EBITDA increased significantly compared to last year: SEK  4,189 (2,675) million.

The result is mainly an effect of increased travel and freight volumes as well as improved travel rates compared to last year.

EBITDA from chartering out ropax vessels increased by SEK 227 million to SEK 441 (214) million in the nine-month period ended 30 September 2022 mainly due to the delivery of CÔTE D´OPALE in May 2021 and SALAMANCA in November 2021, offset by vessels sold in 2021.

In October 2022, a contract to sell the ropax vessel CONNEMARA was signed (buyer: Bluebridge Cook Strait Ferries).

Source: Stena.com
Dec 09
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Viking Line to sell ROSELLA as part of its fleet modernization

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Viking Line has agreed to sell ROSELLA to Greek Aegean Sealines Maritime Co.

The workhorse has served in Viking Line’s fleet since 1980.

ROSELLA will sail under a Greek flag and serve the Aegean Sea.

Viking Line has worked with great focus to modernize its fleet and is evaluating alternative solutions for its short-distance routes between Sweden and Åland.

The sale price is EUR 11,250,000 and will generate an accounting profit of about EUR 8,600,000 during the first quarter of 2023.

The vessel will end its service on January 8, 2023. Delivery will take place during the latter half of January 2023.

Aegean Sea Lines was founded in 2005 as the Aegean Speed Lines operating mainly high speed craft on the Piraeus – Western Cyclades line. In 2006, its shareholders changed and in 2009 they brought the successful Italian build sisters HSC SPEEDRUNNER IΙΙ, SPEEDRUNNER IV on the above line.

In 2016, Aegean Speed Lines sold SPEEDRUNNER IV due to the financial crisis that hit the Hellenic Coastal Shipping as well, while in April 2022 sold its only vessel SPEEDRUNNER III to Seajets but leaving a promise that it will come back!

With the today’s announcement the Aegean Sea Lines makes a dynamic come back on the line that made her great.

Dec 09
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Viking Line chooses Finnish flag for Viking XPRS

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Viking Line Abp had decided to register its passenger ship Viking XPRS in the Finnish  Register of Ships. The vessel, which began service in 2008, has been registered in Estonia since 2014.

The decision to register the vessel in Finland was made in order to make it easier to recruit staff and enable the company to administer all of its staff without any  intermediaries. The goal is to have the reflagging work completed during the first quarter of 2023.

Viking Line will begin the process of filling all the positions on board Viking XPRS under the Finnish flag with a few exceptions. Employees currently working on board the vessel (about 175 people) and employees from the company’s other vessels that sail under a Finnish flag can submit applications.

Dec 09
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Delivery of MyStar

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On 7 December 2022, Tallink Superfast Ltd, a subsidiary of AS Tallink Grupp, took delivery of the new fast passenger ferry MyStar from Rauma Marine Constructions.

  • There will be four different travel classes – the standard Star Class, upgraded Comfort Class, exclusive Business Lounge and the novel Platinum Lounge offering even more privacy.
  • There is a 2500 m2 Traveller Superstore shopping area through two decks with modern self-service solutions, and seven restaurants, cafes and bars. A children’s playroom, an area for older kids with gaming equipment, a large winter garden and a kennel for the pets on garage level.
  • The new ship has a service speed of 27 knots and she will operate on the Tallinn-Helsinki route with 6 departures per day in the company’s shuttle vessel schedule in tandem with the company’s other fast ferry Megastar.
  • The cost of the ship is around EUR 250 million and the purchase is financed with a loan of EUR 196,3 million from KfW IPEX-Bank GmbH Ltd., the credit is guaranteed by Finnish Export Credit Agency “Finnvera”. The maturity of the loan is twelve years and bears fixed interest rate.
  • MyStar is co-financed by European Union, the Connecting Europe Facility, Transport – Motorways of the Sea.
  • MyStar will start operating on 13 December 2022.
  • 212m | 2800 passengers | 750 passenger vehicles.
  • Dual-fuel engines LNG MDO
Dec 09
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Short-term charter agreement

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AS Tallink Grupp and Estonian Social Insurance Board have signed a short-term time-charter agreement ropax ISABELLE.

The vessel will be chartered to the Estonian authorities from 8 December 2022 for six months with extension options (6+1+1).

The vessel will be used to provide temporary accommodation to Ukrainian refugees arriving in Estonia.

Dec 09
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Color Lines’ COLOR VIKING sold to Seajets

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Color Group ASA confirmed the sale of its ship COLOR VIKING.

Eventually, the ship was sold to the Greek Seajets and currently is having repairs and branding changing in Odense (Denmark).

According to the information, the ship will be delivered until February 2023 and she is expected to serve the Piraeus-Western Cyclades line with a possible extension to another island.

Dec 09
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Corsica Linea took delivery of A GALEOTTA

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Corsica Linea took delivery of the new LNG-powered RoPax named A GALEOTTA, built by Cantiere Navale Visentini shipyard in Porto Viro.

The vessel will have the capacity to accommodate 650 passengers and 2,560 lane meters of freight. Also, the ship will be able to carry 150 cars on a separate deck.

Corsica Linea’s ferries provide year-round services from Marseille, the main trading port in France to the Mediterranean island of Corsica. The vessel is to be deployed on the route linking Marseille and Ajaccio / Bastia.

Dutch firm Titan will bunker Corsica Linea’s first LNG-powered RoPax in Marseille, as part of a deal revealed in January this year. Titan will first provide truck-to-ship operations until its 4,500 m3 LNG bunkering vessel KRIOS arrives.