DFDS Q4 interim & full-year report: solid result for 2023

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  • EBITDA of DKK 5.0bn in line with Win23
  • Revenue up 2% to DKK 27.3bn
  • Ferry & Logistics network expanded
  • Adjusted free cash flow of DKK 2.8bn
  • Total dividend and share buyback of DKK 600m
  • EBIT 2024 outlook of DKK 2.0-2.4bn (2023: DKK 2.3bn)

Q4 2023

  • Challenging freight markets
  • EBITDA reduced 5% to DKK 1.0bn
  • Cash inflow of DKK 1.5bn from sale and leaseback of three ferries
  • CO2 ferry emission intensity lowered 2%


  • EBIT of DKK 2.0-2.4bn
  • Revenue growth of 5-8%
  • Adjusted free cash flow of around DKK 1.5bn

“We’re pleased to deliver a solid result for 2023 despite challenging freight markets. Our ferry and logistics network has been expanded significantly, and in 2024 we will focus on unlocking value as we start executing on our new strategic and financial ambitions,” says Torben Carlsen, CEO.

Read the Q4 2023 interim and full-year report here.

DFDS January volumes: good start to the year

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Ferry – freight

  • Total volumes in January 2024 were 10.1% above 2023 and up 5.1% adjusted for the addition of Strait of Gibraltar routes and closure of the Calais-Tilbury route.
  • North Sea volumes were above 2023 partly due to the addition of further automotive volumes on one route.
  • Mediterranean volumes were below 2023 following a slow start as volumes picked up through the month.
  • Channel volumes were above 2023 driven by the Dover Strait routes.
  • Baltic Sea volumes were also above 2023 despite reduction of capacity between Estonia and Sweden compared to 2023.
  • For the last twelve months 2024-23, the total transported freight lane metres decreased 6.7% to 38.7m from 41.6m in 2023-22.

Ferry – passenger

  • The number of passengers in January 2024 were 87.4% above 2023 and up 2.7% adjusted for the addition of Strait of Gibraltar routes.
  • The adjusted increase was driven by more Channel passengers while the number of passengers on other routes were below 2023.
  • The number of cars were 58.4% above 2023 and on level with 2023 adjusted for Strait of Gibraltar.
  • For the last twelve months 2024-23, the total number of passengers increased 19.7% to 4.7m compared to 3.9m for 2023-22.

Smyril Line has signed contracts for two modern and environmentally friendly RoRo cargo ships

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Smyril Line has signed a contract with the CIMC Raffles shipyard in China to build two new RoRo ships.

The identical twins will be 190m long and have a 3,300 lane metre capacity.

The new cargo ships will join Smyril Line’s current network, and they are planned to start sailing in 2026. The ships are designed for optimal year-round seaworthiness in the North Atlantic with great emphasis on crew comfort.

The ships are being designed in close cooperation with KNUD E. HANSEN, naval architects, who, together with the extensive experience of Smyril Line in the North Atlantic, will ensure that the ships are built for the special route between Europe, the Faroe Islands, and Iceland.

The ships will be modern and environmentally friendly, meeting all international emission standards. Compared to the company’s existing fleet, they will emit significantly less per transported ton. At the same time, the ships will be equipped with a battery system and the possibility of shore power.

The ships will also be prepared to sail on e-methanol, considered the best future choice for green energy at Smyril Line.

Source: Knud E. Hansen

AS Tallink Grupp Statistics for January 2024

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  • 329,974 passengers (-2.4%)
  • 28,606 cargo units (+4.5% )
  • 50,234 passenger vehicles (-3.0%)

The January Estonia-Finland results reflect operations of the shuttle services of MYSTAR andMEGASTAR as well as the operation of the cruise ferry VICTORIA I that started operating the 22-hour cruise service from 12 October 2023.

The shuttle vessel Megastar did not operate on the route for 6 days in total due to scheduled maintenance.

The January Estonia-Sweden results reflect the operations of the Tallinn-Stockholm and the Paldiski-Kapellskär routes by one cruise ferry and two cargo vessels.

Ventouris Ferries’ RoPax BAJA STAR arrived in Greece

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On February 4, 2024, the new acquisition of the Greek based Ventouris Ferries RoPax BAJA STAR arrived in Greece. The ship left Mexico on December 26, 2023.

She was built in Japan (1992) for Marine Express Co (Tokyo). She was sold to Mexican Baja Ferries in 2016 and served the Pichilinque – Mazatlan line. The GT 25,000 ship will be delivered in Perama to her new owners and then undergo a small refit before entering service on the Greece-Italy or Albania – Italy lines.

Her carrying capacity is for 705 passengers (660 beds) and 1,400 lane meters.

Photo: Voyager (Christos Chatzaras)

FRS Helgoline adds Brunsbüttel as ferry port

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As from April 3, the high-speed catamaran HALUNDER JET will also stop in Brunsbüttel, on its way between Hamburg, Cuxhaven and Helgoland.

The Flensburg-based shipping company FRS Helgoline GmbH & Co. KG is expanding its departure ports towards Helgoland: in addition to Hamburg and Lower Saxony (Cuxhaven), Schleswig-Holstein (Brunsbüttel) will now be included, from April 3, 2024, to November 3, 2024, every Wednesday, Friday, and Sunday.

For this purpose, the company acquires the ferry terminal in Brunsbüttel.

Source: FRS Helgoline Photo Anna Lange

LR awards AIP to hydrogen fuel-cell ferry for the Estonian State Fleet

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Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to the Estonian State Fleet for a hydrogen fuel-cell ferry designed by Finnish ship design and engineering company Deltamarin.

The zero emissions ferry is to be operated between the Estonian mainland and the islands of Saaremaa and Hiiumaa, on the Virtsu-Kuivastu and Rohuküla-Heltermaa routes, which connect the Baltic nation to its two largest islands.

As part of the certification, LR approved the current stage of the design process to be suitable for further design, construction and procurement of the ropax ferry. The thorough AiP process was conducted by LR experts and led by its Hamburg Technical Support Office.

Source: Lloyd’s Register

Funding Awarded for Development of Marine Digital Twin of Dover Harbour

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The Port of Dover and the Universities of Plymouth and Manchester have been awarded a £333,585 grant by Innovate UK to create and embed an AI-augmented digital twin of Dover harbour.

The enhanced digital twin will provide a dynamic 24-hour, 365-day all-weather simulation of the complex tidal flows across the harbour and predict with maximum confidence the conditions essential for safe navigation in the Port of Dover. As a result, the Port will be able to remain operational during harsher weather conditions and welcome larger vessels and an even greater range of cruise and cargo ships, enabling greater operational efficiency and an increased volume of UK imports and exports.

Source: Port of Dover

EST-Floattech delivers Octopus Series Energy Storage Solution to Holland Shipyards Group for SFK Ferry Laboe

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EST-Floattech successfully delivered and commissioned an Octopus Series battery system on the SFK Ferry LABOE. The ferry was recently successfully delivered to Schlepp- und Fährgesellschaft Kiel (SFK) by Holland Shipyards Group. It is the 6th ferry in a series of 7 ferries with which SFK has the ambition to lower its CO2 emissions.

The Laboe is equipped with 560 kWh of the Octopus High Energy system. This battery system ensures the energy consumption remains low during the sailing, as the vessel can easily switch between generators and the battery system. The vessel can even sail fully emission-free around the city of Kiel, where it transports commuting pedestrians and cyclists from A to B.