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2022 Newsletter week 51

Dec 22
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Just in time and no surprises: Corsica Linea and La Méridionale share the Marseille-Corsica routes until 2029

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The Assembly of Corsica voted on Tuesday 20 December 2022 the attribution of the delegation of maritime public service (DSP) to Corsica Linea (the red ships) and La Méridionale (the blue ships).

Aim: guaranteeing territorial continuity between mainland France and Corsica.

Duration: from 1 January 2023 until 31 December 2029.

Annual cost: EUR 106.7 million (against 93 million for the actual DSP)

Routes:

Marseille-Ajaccio: Corsica Linea/La Méridionale, alternating, daily

Marseille-Bastia: Corsica Linea, 7/7

Marseille-Ile Rousse: Corsica Linea 3/7

Marseille-Propriano: Corsica Linea 3/7

Marseille-Porto-Vecchio: La Méridionale 3/7

Political:

Separatist and Autonomist Opposition voted against, denouncing an increase in costs and the postponement of the creation of a public shipping company (…).

The European Commission had to be convinced that a maritime public service is necessary.

Dec 22
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EQT puts Molslinjen’s CEO in charge of Nordic Ferry Infrastructure

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Molslinjen’s owners in Sweden, EQT Infrastructure, bring Molslinjen’s Carsten Jensen to a position as CEO of the newly established company Nordic Ferry Infrastructure based in Oslo.

The company is a holding company which in future owns both the Danish ferry company Molslinjen and the Norwegian ferry company Torghatten.

Carsten Jensen takes over immediately as CEO of Nordic Ferry Infrastructure. However, during a transition period he will still be responsible for the Molslinjen until a new CEO is in place.

Dec 22
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Grimaldi Group strengthens Bari and Brindisi lines

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On 6-7 December 2022, Mr Guido Grimaldi, Grimaldi Group Corporate Short Sea Shipping Commercial Director & President of ALIS, announced the enhancing of both Bari and Brindisi lines with more vessels.

More specifically, at the port of Bari, he announced the introduction of a fourth Ro-Ro ship, from January 2023, on the Patras-Bari-Venice line and vice versa, which will contribute to the daily service.

The next day, in Brindisi, he announced the new operation on Patras-Igoumenitsa-Brindisi. RoPax EUROPA PALACE will join her fleet mate RoPax IGOUMENITSA, offering more daily departures, from 14 to 22 weekly.

Dec 22
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Passengers will return to Le Havre in 2023

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Brittany Ferries will re-open its Portsmouth to Le Havre service for passengers

  • When? 1 March 2023
  • What? The route had been run in freight-only mode for the last few years, a consequence of the Covid
  • Ship? COTENTIN (114 pax in well-appointed cabins)

As well as Portsmouth – Le Havre, the ship will carry passengers on Le-Havre to Rosslare. Her schedule includes one round-trip to each destination:

Sunday and Thursday

  • Le Havre – Portsmouth : departure 17h30 – Arrival 22h00
  • Portsmouth – Le Havre : departure 23h30 – Arrival 08h30 Friday
  • Le Havre-Rosslare : departure 19h00 – Arrival 14h30 Saturday
  • Rosslare-Le Havre : departure 17h45 – Arrival 15h00 Sunday
Dec 22
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Scottish Government budget: more money for the ferries

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The Scottish Budget sets out the Scottish Government’s proposed spending and tax plans for 2023 to 2024, as presented to the Scottish Parliament. Full details here.

Extra money has been allocated to complete the two overdue ferries at Ferguson Marine, which have already exceeded their budget.

It includes an additional £15 million in the current financial year and £57 million next year for work on the vessels.

Ferry Services: important increase of budget

Dec 22
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Changes in AS Tallink Grupp’s loan obligations

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AS Tallink Grupp has amended and restated the EUR 280 million loan agreement from December 2016. The final maturity of the Euribor based floating interest rate loan was extended by 3 years with two further extension possibilities, each by one year. Sustainability-linked clauses were added to the amended and restated loan agreement. Current outstanding balance of the loan is EUR 135,5 million.

The financing is arranged by Nordea Bank ABP, Danske Bank A/S, KfW IPEX Bank GmbH, AS Swedbank, Skandinaviska Enskilda Banken AB and Hamburg Commercial Bank AG. Nordea Banks ABP and Skandinaviska Enskilda Banken AB acted as Coordinators. The Facility- and Security Agent and Sustainability Coordinator is Nordea Banks ABP.

As a result of the amended and restated loan agreement the company’s refinancing risk decreases.

The new loan is guaranteed by the subsidiaries of AS Tallink Grupp: Tallink Sea Line Ltd, Tallink Victory Line Ltd, Tallink Ltd, Tallink Autoexpress Ltd and Tallinn Swedish Line Ltd. The loan is secured by the mortgages on the ships belonging to these subsidiaries.

Dec 22
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Jadrolinija celebrates 75 years

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Zadar, 5 December 12, a ceremony was held onboard MARKO POLO to celebrate Jadrolinija’s 75th birthday.

The party included employees, partners and numerous guests, including the State Secretary for the Sea, Transport and Infrastructure and the representative of the Prime Minister of the Republic of Croatia Josip Bilaver, the representative of the President of the Croatian Parliament Rade Šimičević, Members of Parliament and Zadar County Prefect Božidar Longin.

After the stressful pandemic years, there is a return to the figures from 2019, which was also referred to by the President of the Management Board, David Sopta, in his welcome speech.

“This year marks a return to the figures from the record year 2019, despite the global energy crisis and the drastic increase in energy prices. This means that we will see the end of the year with more than 12 million passengers and more than 3 million vehicles.”

He pointed out that over the past few years, 5 ships have joined the fleet, while the acquisition of new ships is expected next year.

Dec 22
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Naviera Armas soon to be put up for sale?

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The Spanish ferry company Naviera Armas seems to be the next big deal soon to take place in the Mediterranean basin.

Spanish media report that the company, controlled today by the Armas family and the creditors (i.e. Jp Morgan, Barings, Cheyne Capital and Banco Santander), will have to be put on the market in the near future.

Balearia, Boluda, MSC’s Grandi Navi Veloci and Grimaldi Group are mentioned as potential buyers, but Grimaldi immediately denied its interest to Ferry Shipping News: “We are not going to play that match,” a spokesperson said. No comment from MSC as usual.

The sale process appears very complicated both for technical, financial, and legal reasons.