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2023 Newsletter week 12

Mar 24
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Gotlandsbolaget published its annual report

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January-December 2022:

  • Revenues SEK 2,918.8 million (2,336.5)
  • The increase is due to increased traffic revenue for Destination Gotland, new revenue for Hansa Destinations and an improved product tank market.
  • The costs amounted to -3,048.2 MSEK (-2,212.6).
  • Increased costs during the year are mainly due to higher fuel prices for Destination Gotland and Hansa Destinations.
  • Adjusted operating profit amounted to SEK -129.4 million (123.9), corresponding to SEK -51.8 (49.6) per share.
  • The total adjusted operating profit for the companies that operate ferry traffic (Destination Gotland AB and Hansa Destination AB) amounted to -417.2 MSEK (122.9).
  • In terms of fuel, Destination Gotland gradually carried out a temporary fuel change from LNG to MGO. The company intends to return to LNG and biogas as soon as the price picture permits, and the origin of the gas can be ensured (= non-Russian).
  • Long-term goal remains firm: Gotlandstrafiken’s carbon dioxide emissions must be reduced by 70% in 2030 (compared to 2010) and be climate neutral by 2045.
  • To reach climate goals, the company is developing the next generation of ships – the Horizon series, which will be powered by hydrogen gas. The goal is that at least one of the ships must be in service by 2030 at the latest.

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Mar 24
0

European Green Deal: Agreement reached on cutting maritime transport emissions by promoting sustainable fuels for shipping

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Thursday 23 March 2023, co-legislators agreed on FuelEU Maritime – a new EU regulation ensuring that the greenhouse gas intensity of fuels used by the shipping sector will gradually decrease over time, by 2% in 2025 to as much as 80% by 2050.

This measure will help reduce greenhouse gas emissions from the shipping sector by promoting the use of cleaner fuels and energy. [source: European Commission]

FuelEU Maritime will help decarbonise the maritime transport sector by setting maximum limits on the yearly greenhouse gas intensity of the energy used by a ship. The targets cover not only CO2, but also methane and nitrous oxide emissions over the full lifecycle of the fuels.

The new rules also introduce an additional zero-emission requirement at berth, mandating the use of on-shore power supply (OPS) or alternative zero-emission technologies in ports by passenger ships and containerships, with a view to mitigating air pollution emissions in ports, which are often close to densely populated areas.

FuelEU Maritime takes a goal-based and technology-neutral approach, allowing for innovation and the development of new fuel technologies to meet future needs, and offering operators the freedom to decide which to use based on ship-specific or operation-specific profiles.

The Regulation also provides for a voluntary pooling mechanism. Under this scheme, ships will be allowed to pool their compliance balance with one or more other ships. Thus, it will be the pool as a whole that has to meet the greenhouse gas intensity limits on average.

Mar 24
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ECSA: FuelEU Maritime is a step forward towards shipping’s energy transition

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European shipowners (ECSA) welcome the climate ambition of the new Regulation and consider it as an essential stepping stone towards establishing the right conditions for the energy transition of shipping.

“European shipowners congratulate the negotiators for their hard work and the final outcome. This is a step in the right direction to ensure shipping has the right tools for its energy transition. But we need all hands on deck and, in particular, more robust requirements for fuel suppliers to deliver the clean fuels needed.”

“Therefore, we call on the Parliament and the Council to support binding targets on suppliers for clean marine fuels in the revised Renewable Energy Directive (RED). FuelEU Maritime, together with RED and the ETS revenues used to bridge the price gap with clean fuels, can put shipping on the right energy transition path”, said Sotiris Raptis, ECSA’s Secretary General.

Mar 24
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ESPO welcomes the agreement on FuelEU Maritime to reduce emissions from shipping during navigation and at berth

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“We are pleased that for the first time there is an agreement on the greening ambitions for shipping, both during navigation and at berth. The requirements for ships when to use of electricity at berth, will hopefully break the chicken and egg discussion,” says ESPO’s Secretary General Isabelle Ryckbost.

“We hope however that the flexibility given to shipping lines to decide their own greening path, will also be mirrored in the upcoming agreement on AFIR (*). There is no time and no money to lose, for shipping lines nor for ports. Reducing emissions, fast and efficient, should be the main ambition. We hope the AFIR is also giving some flexibility to ports to prioritise investments in onshore power in ports where it makes the most sense.”

(*) AFIR Alternative Fuels Infrastructure Regulation

Mar 24
0

New tender for maritime continuity between Sardinia and Italy launched with starting price of EUR 42.4 million

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Italy’s transport ministry has just published a new dedicated tender for the next cycle of maritime continuity between the Italian mainland and Sardinia.

  • Route: Civitavecchia – Arbatax & Cagliari
  • One ro-pax less than 30 years old, no less than 900 passengers, and a capacity of 1,200 lane metres
  • EUR 42.4 million
  • Deadline 5 May 2023

From September 2021 until 22 March 2023, this same service has been operated by Grimaldi Group which currently deploys ro-pax CORFU.

Mar 24
0

Grimaldi – Minoan – EKEV signed the acquisition of a majority stake in the share capital of the Igoumenitsa Port Authority

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On 21 March 2023, the joint venture established by the companies Grimaldi Euromed S.p.A., Minoan Lines S.A. and Investment Construction Commercial And Industrial S.A. (EKEV SA) signed an agreement with the Hellenic Republic Asset Development Fund (HRADF, the fund which manages the program of privatization of ports and other public assets in Greece and a member of GROWTHFUND – The National Fund of Greece) which provides for the purchase of a majority stake of 67% of the share capital of the Igoumenitsa Port Authority (IPA S.A.) for a total price of EUR 84.17 million.

The signature of the share purchase agreement takes place after the approval of the Court of Auditors, while the ratification of the concession agreement between the Greek State and IPA S.A. by the Greek Parliament is imminent.

The signing ceremony that took place at HRADF’s premises was attended, among others, by the Minister of Maritime Affairs and Insular Policy, Ioannis Plakiotakis, the Secretary General of Ports Port Policy and Maritime Investments, Evangelos Kyriazopoulos, the CEO of HRADF, Dimitris Politis, the President and Managing Director of Grimaldi Euromed S.p.A., Emanuele Grimaldi, the CEO of GROWTHFUND – The National Fund of Greece, Grigoris D. Dimitriadis, the Corporate Short Sea Commercial Director of the Grimaldi Group, Guido Grimaldi, the CEO of Minoan Lines, Loukas Sigalas, The Chairman and Managing Director of EKEV S.A., Athanasios Koulouris, the President and Managing Director of the Igoumenitsa Port Holding Company S.A., Paul Kyprianou, the CEO of IPA S.A., Athanasios Porfyris, the Member of Parliament for Thesprotia, Vasileios Giogiakas, the Mayor of Igoumenitsa, Ioannis Lolos and the Mayor of Filiates, Spyridon Pappas.

Mar 24
0

Kerkyra Seaway’s double-ended ferry IONAS sold to Türkiye

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  • Kerkyra Seaway’s double-ended ferry IONAS (former MONGIBELLO, BUDELLI, MIGUEL HERNANDEZ, FREJA SCARLETT, SUPERFLEX HOTEL) has been sold to a Turkish ferry operator and will soon depart for Istanbul.
  • The ship is part of the popular Superflex class and served the Igoumenitsa – Corfu and Igoumenitsa – Paxoi lines since 2012.
  • She stopped sailing on February 18, 2023.
  • Turkish flag and renamed MEGAMAR.
  • She will probably serve on a Northern Cyprus run.
Mar 24
0

Piraeus Port Full Year 2022 – A new historic record high in revenue and profitability

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PPA S.A. announced the Full Year 2022 financial results, the best ever performance achieved in both revenue and profitability.

+26.2% turnover €194.6 million

+51.7% profits before taxes €74.7 million

+43.9% profits after taxes €52.9 million

The coastal shipping business recorded an increase compared to the previous year. Total passenger traffic in 2022 showed a growth of 26% with 14,976,394 passengers compared to 11,896,187 in 2021.

More on PPA’s website
Mar 24
0

P&O PIONEER is in Europe, on her way to the Channel

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  • New OSK-Shiptech designed hybrid ferry P&O PIONEER Docks at DP World Limassol for bunkering.
  • She is set to be the world’s largest Hybrid double-ended ferry and is expected to cut fuel usage on the Dover-Calais crossing by 40%, delivering a major carbon emission saving, says the P&O press release.
  • The berthing, bunkering and marine services will be carried at the terminal by DP World Limassol, Unifeeder and P&O Maritime Cyprus