Gotlandsbolaget: Interim report January-March 2023

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Gotlandsbolaget closed 2022 with a strong negative operating result, above all due to extreme fuel prices. One of the measures taken to stop an escalating continued loss, was that Destination Gotland adjusted the ticket prices. The operating profit for the first quarter of 2023 is, as expected, negative due to the low season, but stabilized fuel prices and the effect of the decisions taken at the end of 2022 lead to an improvement compared to the same period in 2022.

The stabilized fuel prices have meant that Destination Gotland has been able to lower its ticket prices from April and forwards.

Quarter January-March 2023

Revenues and costs during the quarter are lower than the previous year mainly as a result of items relating to Stockholms Reparationsvarv and Hansa Destinations being included, as well as for the four product tankers that were sold in autumn 2022.

Adjusted operating profit amounted to SEK -62.9 million (-98.5), corresponding to SEK -25.2 (-39.4) per share. The improvement is due to the previous year’s result being burdened by a negative result for Hansa Destinations, as well as adjusted prices in Gotlandstrafiken and the fact that the price of fuel has stabilised.

Revenues and results are normally low during the first quarter as a result of the low season for Gotland’s hospitality industry, which also historically means a negative result.

Net sales losses on the sale of the vessels VALENTINE and HSC GOTLANDIA amounted to SEK -30.5 million.

The complete interim report for the period January to March 2023 is available here in Swedish.

Brødrene Aa will build three electric ferries for Norled

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  • AtB (Trøndelag’s mobility company) awarded tender contracts to Norled for three vessels starting in January 2024.
  • Brødrene Aa will build the ferries, marking their largest single contract valued at NOK 420 million.
  • Two ferries will operate the Trondheim-Kristiansund route, while the third will serve the Trondheim-Brekstad route on Ørlandet.
  • The fast ferries will utilize the battery replacement solution SHIFTR, allowing for scheduled battery pack exchanges with fully charged ones.
  • The SHIFTR system is a result of a Pilot-E development project led by Norled, involving Brødrene Aa.
  • The exchange solution will be piloted on two existing Brødrene Aa-built boats, BARONEN and BARONESSEN, which will be converted to fully electric operation.
  • This marks the first regular use of SHIFTR on a route, following the formal contract between Brødrene Aa, Norled, and the conversion of the two vessels.

Sale & Lease Back agreement signed by Moby and CSSC for the new Chinese ferries

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CSSC (Hong Kong) Shipping Company Limited publicly announced that on 10 May 2023 a sale & lease back agreement with Fratelli Onorato Armatori, company part of Moby, has been sealed for the two newly built ferries MOBY FANTASY and MOBY LEGACY.

Read the full document here.

MOBY FANTASY has just been delivered in May and is now en route to Italy.

MOBY LEGACY is expected to be delivered by August 2023.

Michele Landro leading Passenger Shipping at Lloyd’s Register

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LR wrote on its website that it has appointed Michele Landro to its newly created role of Vice President, head of passenger ships segment, where he will lead the segment at a global level, supporting its long-term sustainable growth and providing strategic direction while nurturing key client relationships and industry networks.

Landro, who has a technical background including a master’s degree in Naval Architecture and Marine Engineering from the University of Genoa, has 15 years’ experience in the maritime sector.

Besides Cruise, Landro will also focus on Ferries and Ro-Ro ships.

New names for Scotland’s Islay vessels decided by public vote

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Caledonian Maritime Assets Limited (CMAL) has announced ISLE OF ISLAY and LOCH INDAAL as the names for the two new ferries to serve Islay and Jura following a public vote.

Delivery expected towards the end of 2024 for vessel one, and early 2025 for vessel two.

The two new ferries will have a clear focus on freight, as well as sufficient passenger accommodation: 450 passengers and 100 cars, or 14 commercial vehicles. This will provide a combined 40% increase in vehicle and freight capacity on the Islay routes and will improve the overall resilience of the wider fleet.

The Islay ferries form part of a programme of investment by CMAL, funded through Scottish Government commitments to capital investment of around £700 million in ferry infrastructure and related services over the five years from 2021 to 2026.

Wider plans will deliver other new small and major vessels for the fleet and upgrades of harbour infrastructure with future options being considered through the emerging Islands Connectivity Plan.

Scotland: “Shall we continue to build vessel 802?”

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To continue with the delivery of vessel 802 by the Scottish Ferguson Marine Port Glasgow Limited (FMPG) shipyard, the Director General Economy requested Written Authority from the Cabinet Secretary for Wellbeing Economy, Fair Work and Energy on 13 May 2023.

In other words, he asked if yes or no severely delayed vessel 802 should be finished.

[Question in full]

Answer from Neil Gray (Member of Scottish Parliament / Cabinet Secretary for Wellbeing Economy, Fair Work and Energy)

“Delivery of Vessel 802 is in the clear interest of our island communities that the vessel will serve and the community of Inverclyde. It is also in our national economic interest to preserve, enhance and develop our shipbuilding industry.”

[Answer in full]

Tallink Grupp teams with ABB to achieve environmental goals

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Tallink Grupp is the first Estonian company to join international technology giant ABB’s global sustainability movement, Energy Efficiency Movement, the aim of which is to enhance environmental protection through increased energy efficiency and emissions reduction projects and activities.

Read more here.

Photo (left to right): Jukka Patrikainen, ABB and Captain Tarvi-Carlos Tuulik, Tallink Grupp