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2024 Newsletter week 24

Jun 14
2

DFDS to sell Oslo-Frederikshavn-Copenhagen route to Gotlandsbolaget

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DFDS has agreed to sell the Oslo-Frederikshavn-Copenhagen cruise ferry route to Gotlandsbolaget, with the sale expected to be completed in October 2024.

The Oslo-Frederikshavn-Copenhagen route

  • 700,000 passengers annually
  • Limited freight
  • Two cruise ferries: Pearl Seaways and Crown Seaways
  • 800 employees
  • Generated DKK 0.9bn in revenue in 2023, representing 3% of DFDS Group’s total revenue.
  • A long-standing part of DFDS since its foundation in 1866 and an important public service in Denmark and Norway.

The sale includes the two ferries, terminal and port agreements, and 800 employees, with DFDS providing certain support services post-sale for a limited time. The sale price is around DKK 400m.

The deal comes about a year after Gotlandsbolaget bought Birka Stockholm (now Birka Gotland) . It is for the Swedish company yet another step in the strategic direction to expand in passenger shipping.

The two vessels will not be reflagged in connection with the transaction and no layoffs are planned as part of the transfer of the route.

Jun 14
2

New Intermodal Route for DFDS: Connecting Finland, the UK, and the Continent

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DFDS launched a new intermodal route that connects Finland, the UK, and the Continent.

In partnership with TX Logistik AG and Wasaline, this innovative route combines ferry and rail transport for a seamless connection. The journey begins in Vaasa, Finland, continues by ferry to Umeå, Sweden, proceeds by rail to Gothenburg, and then reaches Immingham, Ghent, or Zeebrugge via DFDS Ferry.

With two weekly round trips and reliable capacity year-round, DFDS’ expert team manages all segments and customs documentation, making this route perfect for those looking to reduce costs and greenhouse gas emissions.

Source: DFDS Freight Ferries and Logistics on Linkedin

Jun 14
2

Danish shipyard secures order for an electric ferry for Torghatten

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Hvide Sande Shipyard in Denmark has secured the contract for a ferry, capable of carrying 30 cars and 149 passengers.

The ferry will operate for Torghatten on the Bellvik-Vengsøy and Musvær-Mjølvik-Risøy routes in the open sea northwest of Kvaløy, outside Tromsø.

The delivery date for the new build, number 158, is 31 March 2026.

Equipped with a nearly 4 megawatt-hour battery pack—four times larger than previous builds at the yard—the NSD 30CFc design is by The Norwegian Ship Design Company.

The hull is being constructed at Montex Shipyard in Poland, expected to be delivered in summer 2025, followed by outfitting in Denmark.

Jun 14
2

GNV declared total loss for LA SUPERBA – Now likely to be sold for scrap

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Grandi Navi Veloci’s ferry La Superba, which suffered a fire while docked at Palermo, Sicily, on 14 January 2023, has been declared a total loss and is likely to be sold for scrap in Turkey soon.

The insurance company Siat now owns the vessel after GNV declared it a constructive total loss. Initially, GNV aimed to have La Superba back in service by the summer of 2023, but the ship has remained inactive due to significant fire damage to the forward part of the vessel, including two decks in the garage, some cabins, and a public area.

La Superba was built by Nuovi Cantieri Apuania in Italy and, upon its entry into service in 2002, was the largest passenger ferry in the Mediterranean and one of the largest worldwide. The ferry can accommodate 2,920 passengers in 567 cabins and 940 seats, along with 1,000 cars in four garages, and has a total cargo capacity of 2,800 lane metres.

Photo: Vigil del Fuoco

Jun 14
2

DFDS May volumes: both freight and passenger continued to grow

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Ferry – freight:

  • Total volumes in May 2024 were 6.9% above 2023 and up 3.8% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023.
  • North Sea volumes were just below 2023 partly due to lower automotive volumes following temporary plant closures.
  • Mediterranean volumes were above 2023 driven by higher volumes on all routes.
  • Channel volumes were above 2023 and the Baltic Sea routes likewise continued to grow volumes.

For the last twelve months 2024-23, the total transported freight lane metres increased 1.6% to 40.0m from 39.3m in 2023-22. The increase was 0.3% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure.

Ferry – passenger:

  • The number of passengers in May 2024 was 49.2% above 2023 and up 17.0% adjusted for addition of the Strait of Gibraltar routes. The increase was driven mainly by higher Channel volumes.
  • The number of cars were 34.7% above 2023 and up 13.0% adjusted for Strait of Gibraltar.

For the last twelve months 2024-23, the total number of passengers increased 23.7% to 5.3m compared to 4.3m for 2023-22. The increase was 9.2% adjusted for Strait of Gibraltar.

Jun 14
2

Key financial results for Virtu Maritime Ltd. Group in 2023

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  • Pre-tax Profit: €8 million (2022: €793,000 pre-tax loss)
  • Revenue: €53.9 million, up 28.7% from €41.9 million in 2022
    • Ferry Services: €45.6 million
    • Food and Beverage Sales: €1.5 million
    • Charter Hire and Related Income: €6.8 million
  • Cost of Sales: €36.6 million (up from €34.9 million in 2022)(mainly vessel operating expenses and employee benefit expenses)
  • Administrative Expenses: €6.2 million
  • Finance Costs: €3.2 million
  • Total Assets: €200.3 million (2022: €196.2 million)

Virtu Maritime anticipates continued profitability and cash generation in 2024​.

Annual Report

Jun 14
2

Estonia will announce the tender for the construction of the new Virtsu-Kuivastu ferry in September

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Riigilaevastik, Estonia’s state-owned maritime company, has announced plans to launch a procurement tender in September for the construction of a new ferry for the Virtsu-Kuivastu route.

The new ferry will incorporate advanced green technology, including hydrogen fuel cells and batteries, ensuring zero emissions. This vessel, which will be smaller than initially planned, is designed to accommodate up to 700 passengers and 200 vehicles, enhancing the efficiency of the current fleet.

The ferry is expected to start operations by October 2026.

Source: Riigilaevastik

Jun 14
2

Irish Ferries name changes for Dover Calais and Holyhead Dublin ships

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Irish Ferries has a proud tradition of extending its Irish heritage through the naming of its ships after famous Irish writers and their works of literature.

In keeping with this, Irish Ferries announced some name changes:

  • Oscar Wilde, currently serving the Holyhead to Dublin and Dublin to Cherbourg routes, is to be renamed the James Joyce.
  • The recently acquired Spirt of Britain will be renamed as Oscar Wilde. This vessel will join the Irish Ferries fleet on the Dover to Calais route later this month replacing the Isle of Innisfree, which will move to the Pembroke to Rosslare route.
Jun 14
1

IMAGE CARDS

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On June 13, 2024 Magic Sea Ferries’ HSC Magic 1 made her maiden voyage on the Piraeus – Agia Marina – Hydra route. The ship will offer two daily sailings from Piraeus and Hydra.

The craft was purchased on March 2024 in Singapore. She was built in 2023. Her carrying capacity is for 317 passengers and it has a 32 knots maximum speed.

Photo: Kostas Papadopoulos

RoRo Thalassitis (formerly Jan Sniadecki) of the Greek-based cargo company Aeinaftis is currently undergoing conversion at Neos Molos (Drapetsona). The ship was purchased from Unity Line in February 2024. Her conversion as a RoRo primarily focuses on her garage and internal ramps, and she is expected to be dry-docked at the end of June. The ship will enhance the company’s presence on routes in the North Aegean and Crete. RoRo Thalassitis’ carrying capacity is 1,116 lane metres (102 trucks).

Photo: Anastasios Anastasiou

Virtu Rapid Ferries Ltd has concluded a time charter agreement with Stena Line Scandinavia AB for the HSC Maria Dolores, covering the Spain-Morocco route. The vessel, which operated on this route from April 2022 to December 2023, recently completed a short-term charter in the Eastern Mediterranean and underwent routine maintenance in Malta.

The vessel will operate for Africa Morocco Link, the company in which Stena has 49% of the shares, announced in April 2024.

Source: Virtu Finance on Malta Stock Exchange and Photo: Austal

Loch Indaal was launched on 8 June at the Cemre shipyard. The vessel is the second of four ferries being built at the yard and will serve Islay and Jura alongside sister vessel, Isle of Islay, which was launched in March.

Scheduled for delivery in February 2025, Loch Indaal will significantly boost capacity on the Islay routes, with the ability to accommodate up to 450 passengers and 100 cars, or 14 commercial vehicles. This addition will increase vehicle and freight capacity by 40% on the Islay routes, strengthening the overall fleet’s resilience.

Photo courtesy of Brian Fulton.

Ystad Hamn Logistik AB has appointed Erik Eskling Hansen as Business Developer, a new role in which he will oversee the commercial development of the port, including ferry traffic and conventional cargo handling, as well as external communications related to public and media relations. Erik will assume his position on June 24.

The Italian government has chartered the GNV Azzurra to serve as a floating hotel in the port of Brindisi, accommodating police officers who are providing security for this week’s G7 summit at Borgo Egnazia, a luxury resort in the Puglia region. The GNV ferry, which can host approximately 2,000 passengers, was brought in to increase available accommodation following the impoundment of the cruise ship Goddess of the Night due to complaints about poor conditions on board.

Earlier this week, unions reported poor sanitary conditions on the impounded cruise ship, citing unusable cabins, water leaks, broken toilets, and faulty air conditioning, which necessitated relocating those on board to hotels and another vessel. The Italian government is estimated to have spent around EUR 6 million to charter the cruise vessel for the duration of the G7 summit.

Washington State is advancing its ferry fleet with the launch of a national contracting process to build five new hybrid-electric ferries. These vessels, expected to be delivered between 2028 and 2030, aim to replace aging diesel ferries, reducing emissions significantly.

The initiative supports state goals for greenhouse gas reduction and includes funding from the Climate Commitment Act and Move Ahead Washington. This shift to hybrid-electric ferries promises a cleaner, more sustainable future for Washington’s ferry system. For detailed information, visit the WSDOT blog.

Nikolai Knudsmoen Utheim has taken over as CEO of Boreal Norge AS.

Utheim has broad management experience and comes from the company Coor Service Management AS where he has held various management positions. In Norway, Coor has a turnover of more than NOK 2 billion and has around 2,000 employees.

Former CEO Kjetil Førsvoll will assist Boreal as a senior advisor for a period before he retires.

Boreal currently has 2,700 employees and a turnover of NOK 4.1 billion.