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2024 Newsletter week 30

Aug 02
2

CLdN: multimillion-pound investment in Liverpool terminal

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CLdN starts a multimillion-pound investment in its Brocklebank terminal at the Port of Liverpool. These investments are part of CLdN’s plans to increase capacity on its Liverpool-Dublin route.

The infrastructure upgrades at the terminal will improve the use of space and enhance the flow of cargo movements while a new gate set-up, improved drivers’ facilities and a new terminal operating system will increase efficiency and lead to an improved customer experience for dropping off and picking up cargo.

The enhancements to the quayside will also facilitate the use of the terminal by larger, more environmentally friendly ships. 

Source: CLdN 

Jul 26
2

Hellenic Parliament ratified the concession agreement for the Port of Heraklion to Grimaldi Euromed SpA-Minoan

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On July 23, 2024, the Hellenic Parliament ratified the bill about the concession agreement regarding the use and exploitation of certain spaces and assets within the Port of Heraklion to Grimaldi Euromed SpA – Minoan for EUR 80 million.  

Some facts about the “new” Heraklion Port Organization: 

  • 67% of its shares belong to the private sector and 33% remains with the State. 
  • Has a masterplan, which foresees -until 2030- to have the electrical charging facilities for ships (EUR 25 million investment) 
  • Within nine months from the Ratification of the agreement, the investor must present the revised masterplan for the Port of Heraklion, which will undergo a review until it receives the final approval for implementation. 
  • The annual consideration that the investor will offer in relation to any period of time will be 3.5% of the annual combined sales of the Heraklion Port Authority SA. 

The ambitious investment program of the Italian group for the port of Heraklion includes: 

  • Further exploitation of the strategic position of the port in the Eastern Mediterranean. 
  • Development of the cruise sector, commercial flows, for passengers and goods, but also the transport of new vehicles (new car terminal). 
  • Transformation of the port of Heraklion into a “green” port. 
Jul 26
2

Tallink Grupp Q2: stable result

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Q2 

  • -5.8% passengers (1,451,768)
  • -11.4% cars (209,760)
  • +1.7% freight units (86,813)

Unaudited financial results:

  • -8.5% Consolidated revenue EUR 210.0 million
  • EBITDA EUR 46.6 million (EUR 68.5 million in Q2 2023)
  • Net profit for the period was EUR 6.1 million (EUR 33.4 million in Q2 2023).

H1 

  • -1.4% passengers (2.6 million)
  • Unaudited financial results:
  • -7.6% revenue EUR 370.4 million.
  • EBITDA EUR 81.1 million (EUR 95.6 million in January-June 2023).
  • Net profit was EUR 8.7 million (EUR 28.0 million in January-June 2023).

Some background

Reduced charter revenues with 3 of the company’s vessels chartered out as at the end of the quarter (4 at the beginning of the quarter), compared to 7 vessels chartered out in the same period last year, meaning charter revenues in 2024 were significantly lower.

Two of the company’s vessels currently in lay-up (Romantika and Superfast IX, the charter contracts for which had ended), compared to no vessels in lay-up in Q2 2023.

Results were impacted by the income tax recorded on the dividends in the amount of EUR 9.2 million in the quarter.

Comments by CEO Paavo Nõgene

  • Consumer confidence is showing no signs of improving.
  • Geopolitics have an additional impact on Tallink’s region’s tourism development.
  • Trying to find the best work opportunities for the two vessels currently in lay-up.

CLICK to read AS Tallink Grupp Unaudited Consolidated Interim Report Q2 2024 

Jul 26
2

Jesper Kristensen to transition from Unifeeder’s Group CEO role, will continue with P&O projects

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Unifeeder’s Group CEO and Global COO, Marine Services with DP World, Jesper Kristensen, has announced on his LinkedIn profile that he has requested to be relieved from his duties. 

This news is particularly interesting for us ferry professionals. It has been agreed with DP World that Jesper Kristensen will remain onboard to handle various tasks for P&O Ferries, P&O Ferrymasters, and P&O Marine Logistics for several months to come. 

Jul 26
2

Molslinjen aims to be a global role model for ferry companies by setting ambitious targets and fostering innovation

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Molslinjen, Denmark’s largest domestic ferry operator under Nordic Ferry Infrastructure, is pursuing greener ferry operations by joining the Science Based Targets initiative (SBTi) to help limit global warming. CEO Kristian Durhuus stated that Molslinjen aims to be part of the solution to global climate challenges, targeting completely emission-free operations by 2040. 

The company is electrifying its ferry operations, with an electric ferry already built for the Fanø Line (photo), and new electric ferries under construction for the Samsø and Als Lines. Ferries with some of the world’s largest batteries are currently operating on the Öresund Line. Efforts are also underway to electrify the Kattegat and Bornholm lines using various technologies, including a mechanical battery with a flywheel developed by WattsUp Power, a company Molslinjen has invested in. 

Jul 26
2

Corsica Linea’s goal: 40% emissions reduction – Over 50 projects launched to reduce its environmental footprint

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Corsica Linea has launched over 50 projects to cut CO2 emissions by 40% by 2030, aiming for carbon neutrality by 2040. Key initiatives include optimizing fuel consumption through adjusted departure times, improving ship efficiency with technical adaptations, and using biofuels to reduce emissions by 85%. By the end of 2023, emissions per nautical mile have already decreased by nearly 8% compared to 2022. The company plans to reduce emissions by 15% by the end of 2024 and aims to be the most modern and environmentally responsible Mediterranean maritime transport company by 2030. 

Earlier, Corsica Linea announced the arrival of its second LNG-powered ship, expected by 2026 (Stena E-Flexer). 

As announced in November 2023, also La Méridionale is set to receive two new LNG-powered ships in 2027, designed to transform the voyage between the mainland and Corsica into a more environmentally friendly and pleasant experience. 

Jul 26
2

Golden Star Ferries acquires ARMAS’ Volcan de Taburiente

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On July 22, 2024, Greece-based Golden Star Ferries officially announced the purchase of the RoPax Volcan de Taburiente that belonged to the Spanish Navieras Armas. The ship was sold for over EUR 20 million (exclusively with Golden Star Capitals) and will be delivered in Q3. 

According to the information, she will be renamed Andros King and is expected to serve probably on the morning departure from Rafina to Andros-Tinos-Mykonos.  

Upon adaptation for Greek conditions (in Perama), the ferry will offer passenger cabins, escalators, lounges, airplane-style seats, shops, and spacious common areas. 

Jul 26
2

HSC STAR chartered by Blu Jet for 18 months

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Shipbrokers Ferrando & Massone announced that charter contract for the fast ferry STAR (built in 2019, 300 passengers capacity, 30 knots speed and Croatian-owned) was signed by BLU JET. 

Ferrando & Massone acted as broker.  

The unit will be used on the Strait of Messina from August for 18 months linking the ports of Villa San Giovanni and Messina.  

The Genoa-based broker house also specified that this catamaran was one of the very few vessels available on the market that met Blu Jet’s requests both in terms of age of construction, passenger capacity and performance. With this catamaran, BLU JET increases the number of fast units used, increasingly responding to the requests of its clients. 

Jul 26
2

Tuscany Region to fund purchase and refit of ferries for the maritime continuity

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The Tuscany Region announced to have approved a scheme aimed at funding, together with the Italian transport ministry, the purchase of three high-speed vessels for a price of EUR 10,700,000 each and for a total amount of EUR 32,100,000. 

Besides these three new ferries, the rest of the amount (i.e roughly EUR 9,200,000) will be for retrofit of vessels set to be deployed for the maritime continuity between Italy mainland and the islands of Elba, Capraia and Giglio. 

Jul 26
1

IMAGE CARDS

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Polferries’ new Varsovia arrived in the Baltic, with a maiden call in the Swedish port of Ystad on July 19th. 

Photo: Port of Ystad 

CLdN have now sold another Kawasaki–class RoRo vessel. The Celestine has become the Jabal Ali 11. 

Once a year, the Scandlines fleet must carry out an ISPS drill in cooperation with external forces, as required by German authorities. At the beginning of July, the hybrid ferry Schleswig-Holstein, in collaboration with the Bundeswehr’s SAR helicopter, conducted a spectacular ISPS drill in the Fehmarn Belt. 

Source: Scandlines Linkedin 

Thursday 25th July was the first call of CLdN’s new Baltic connection in partnership with Transfennica. The RoRo Kraftca is now on her way to Finland and Estonia after having unloaded and loaded cargo at CLdN’s Albert II terminal in Zeebrugge. 

July 19th, Rauma shipyard celebrated the launch of the Spirit of Tasmania V with traditional ceremonies.  

The vessel’s godmother is Barbara Baker, the 29th Governor of Tasmania.  

The vessel is the second of two car and passenger ferries ordered from the shipyard for Tasmania.