Category: 2025 Newsletter week 18

May 03

3

FINANCE

By sandra | 2025 Newsletter week 18 | No Comments

Higher Profit for Stena AB in 2024

Stena published its results from the year 2024.

Stena Line – Ferry Operations

Operates 44 vessels on 20 routes across Europe; over 25,000 crossings carried more than 6.3 million passengers and 2 million freight units.
New Dublin–Liverpool route launched.
Acquired 49% of Africa Morocco Link (AML), gaining control over two ferry routes between Spain and Morocco.
Major Terminal Investment: Partnered with ABP on a GBP 200 million investment in a new RoRo terminal at Immingham in the UK with a 50-year lease – a strategic move to strengthen their North Sea presence.
Construction of two new “New Max” hybrid RoRo vessels (Stena Futura & Stena Connecta) began – can run on biodiesel, methanol and electricity.
Digitalisation & AI: Used AI for pricing, cargo deck optimisation, and fuel efficiency. The digital customer journey continues to evolve.
EU Emissions Trading: 2024 marked the first year of inclusion in the EU ETS, creating cost pressure while fleet transition is ongoing.

Stena RoRo

High Activity: Took delivery of three new E-Flexer RoPax vessels, now chartered out. Two more are on order.
ALA’SUINU for Marine Atlantic (Canada) – LNG, biodiesel, and battery-ready.
SAINT MALO and GUILLAUME DE NORMANDIE for Brittany Ferries – 12 MWh battery systems and multi-fuel capable.
Purchased and renamed a 2012-built RoRo vessel (ex-Giuseppe Lucchesi) now sailing as STENA SHIPPER under Danish flag.
Fleet of 11 vessels, mostly long-term chartered, offering predictable cash flow.
Now up to 15 E-Flexer orders, 12 already delivered.

Financial Context

Stena RoRo and Stena Property were the only business units to outperform the previous year amid economic headwinds.
Ferry operations (Stena Line) remained profitable but at a reduced level.
A major cost-efficiency programme launched aiming to improve EBITDA by SEK 500 million by 2026.

Stena AB Group – Key Financial Results (2024)

Total income (including capital gains and fair value changes):
SEK 55.7 billion (up from SEK 55.0 billion in 2023)
EBITDA (excluding asset sales): SEK 13.1 billion (down from SEK 14.4 billion in 2023)
Operating income: SEK 6.4 billion (2023: SEK 6.2 billion)
Profit before tax: SEK 3.05 billion (2023: SEK 2.92 billion)

Revenue	2024 (MSEK)	2023 (MSEK)
Ferry Operations	19,453	18,892
Offshore Drilling	7,586	6,283
Shipping	14,416	17,013
Property	3,571	3,625
New Businesses	9,105	8,889
Other	38	44
Total revenue	54,169	54,746

Direct operating expenses
Ferry Operations	–14,031	–13,108
Offshore Drilling	–3,651	–3,066
Shipping	–9,358	–10,490
Property	–1,141	–1,281
New Businesses	–6,383	–6,398
Other	13	–18
Total direct operating expenses	–34,551	–34,361

Click on photo to access the annual report

May 03

3

Tallink Grupp Annual Report 2024 Published

By sandra | 2025 Newsletter week 18 | No Comments

Financial Highlights – FY 2024

Revenue: EUR 785.8 million (↓5.9% from 2023)
EBITDA: EUR 175.2 million (↓18.3% from 2023)
Net profit: EUR 40.3 million (↓48.9% from 2023)
Gross profit: EUR 153.6 million
Earnings per share: EUR 0.05 (2023: EUR 0.11)
Passengers carried: 5.6 million (↓2.2%)
Cargo units: 303,234 (↓6.4%)
Net debt: EUR 537.7 million (↓69.6 million)
Capital expenditure: EUR 22.4 million
Dividends paid: EUR 44.6 million
Equity ratio: 53.4%
Liquidity buffer: EUR 93.7 million

CEO’s Comments – Paavo Nõgene (Chairman of the Management Board)

Economic & Geopolitical Context

Hoped for a stable 2024, but was met with rising geopolitical tensions, weak economic conditions, and lower consumer confidence.
Despite these challenges, the company delivered a “satisfactory result in the circumstances.”

Strategy & Performance

Chose to maintain premium pricing to reflect the quality of service, even at the cost of some volume.
Cargo volumes declined, but profitability improved through strong pricing and efficiency.
Passenger pricing strategy followed the same principle: quality requires investment, and investment requires appropriate pricing.

Regulatory & Environmental Challenges

Faced new costs from the EU Emissions Trading System (ETS) and other climate regulations.
Highlighted growing bureaucracy and reporting obligations, especially related to the new CSRD-compliant ESG report.
Warned that environmental surcharges will increase, driven by necessary investments in greener technologies.

Operational Focus

Maintained an optimal mix of operating and chartered vessels, including vessel sales and new charter extensions.
Focus on tailored and high-quality services on core Baltic Sea routes, with efforts to improve charter revenues from idle vessels.

Outlook

Emphasised continued focus on stability, cost efficiency, and customer-centric innovation.
CEO thanked shareholders and highlighted the confidence shown by AS Infortar, which increased its stake to 68.5% in 2024.

Click on photo to access the annual report

May 03

3

Cldn Launches New Weekly LoLo Service Between Zeebrugge and Ireland.

By sandra | 2025 Newsletter week 18 | No Comments

Cldn Launches New Weekly LoLo Service Between Zeebrugge and Ireland.

The new route connects Zeebrugge with Cork and Dublin via a LoLo container service.
CLdN has chartered the 800 TEU LoLo vessel JSP ROVER for this service.
Operations will take place from CLdN’s Albert II terminal in Zeebrugge.
The service starts on Saturday 10th May.
The LoLo addition allows better optimisation of CLdN’s RoRo fleet.
Enhances customer options on the Zeebrugge–Ireland routes.
Strategic expansion at the Port of Cork, reinforcing its importance for trade with the Republic of Ireland.
The launch is in response to continued growth in freight demand between mainland Europe and Ireland.
Builds on CLdN’s successful mix of LoLo and RoRo services already offered from Rotterdam since last year.
Part of CLdN’s broader LoLo strategy, which includes new container vessels under construction, with delivery starting January 2027.
Complementary to the four existing weekly RoRo sailings from Zeebrugge to Ireland (2 to Cork, 2 to Dublin).
Brings the total to 14 weekly return sailings between Ireland and CLdN’s continental hubs (Zeebrugge and Rotterdam).
CLdN now moves over 500,000 cargo units annually to and from the Republic of Ireland.
Currently the largest ferry freight mover between Ireland and mainland Europe / Great Britain.

May 03

3

Wasaline Sets a New Benchmark in Battery-Powered Shipping

By sandra | 2025 Newsletter week 18 | No Comments

With a planned retrofit of 10.4 MWh of additional battery capacity aboard the hybrid RoPax AURORA BOTNIA, Wasaline takes the global lead in onboard energy storage for passenger ships. By early 2026, the vessel will boast a total of 12.6 MWh – making it the largest battery installation on a passenger ship to date.

Here’s how the Top 5 now stands:

AURORA BOTNIA – 12.6 MWh (Wasaline)
GUILLAUME DE NORMANDIE – Stena E-Flexer – 12.0 MWh (Brittany Ferries)
HAVILA CAPELLA / CASTOR – 6.1 MWh (Havila Voyages)
COLOR HYBRID – 4.7 MWh (Color Line)
LE COMMANDANT CHARCOT – 4.5 MWh (PONANT)

This retrofit – a collaboration with AYK Energy – is not just about size. It’s a bold step toward Wasaline’s vision of carbon-neutral operations by 2030. As demand for greener maritime transport grows, these milestones are paving the way for more sustainable sea routes across Europe and beyond.

May 03

3

Two New Vessels for Western Ferries

By sandra | 2025 Newsletter week 18 | No Comments

Gordon Ross, Managing Director of Western Ferries, announced APCL Cammell Laird as the preferred bidder of a multi-million-pound contract for two new vehicle and passenger ferries for its Gourock to Dunoon route.

Construction will begin shortly with both vessels due to be delivered to the Firth of Clyde in Autumn 2026.

May 03

3

GALAXY Chartered to the Faroe Islands

By sandra | 2025 Newsletter week 18 | No Comments

It is reported that the A-Ships Management ferry GALAXY has been chartered to the Faroese Strandfaraskip Landsins for a 10-week period starting from 8 September 2025. The ship will replace SMYRIL on the Tórshavn–Tvøroyri route.

GALAXY was previously chartered by the same company in 2017, though for a shorter period. She was built in Poland in 1979. Her carrying capacity is 900 passengers (though she will operate with a maximum of 350 during the charter) and 520 lane metres. Her service speed is 19 knots.

Photo: A-Ships Management

May 03

3

RoRo URD renamed NEARCHOS

By sandra | 2025 Newsletter week 18 | No Comments

According to the latest information, RoRo URD, recently acquired by the Greek company Creta Cargo, will be renamed NEARCHOS. She is expected to serve the Piraeus–Santorini–Crete route from the end of May. On the same line, Creta Cargo has operated RoRo AGIOS GEORGIOS (ex-OLYMPUS, ELLI T) since July 2023.

NEARCHOS had previously served on the Constanța–Karasu route since July 2024 on behalf of Sea Lines. Creta Cargo Lines, founded in 2013, specialises primarily in the transport of unique and dangerous freight. She was built in Italy in 1981 and has a capacity of 186 passengers and 1,598 lane metres. Her service speed is 17.5 knots.

Photo: Marine Traffic

May 03

3

Bluferries took delivery of ATHENA

By sandra | 2025 Newsletter week 18 | No Comments

Bluferries, a company that is part of the FS Group (Italian State Railways), has welcomed its newly built double-ended ferry ATHENA, which has just arrived in the port of Messina.

“ATHENA – the name of the latest addition to the Bluferries fleet – marks a significant step forward in the field of sustainable maritime technology,” said Giuseppe Sciumè, Chief Executive Officer of Bluferries. “It is a hybrid RoRo passenger ship equipped with a latest-generation hybrid propulsion system, underlining our commitment to environmental protection.”

Valued at EUR 26 million, ATHENA is a sister ship to the non-hybrid vessels TRINACRIA and SIKANIA. All three ships were ordered through the support of Ferrando & Massone Shipbrokers and built at the Kanellos Brothers Shipyard in Perama, Greece.

ATHENA is 105 metres long and 18 metres wide. She has a dedicated vehicle deck and a separate passenger deck. Her capacity allows for up to 22 trucks or 125 vehicles, and 393 people including travellers and crew members.

In the coming weeks, ATHENA will enter service on the regular maritime route between Messina and Villa San Giovanni, across the Strait of Messina.

May 03

3

CORSICA EXPRESS THREE sold by Corsica Ferries to BluNavy

By sandra | 2025 Newsletter week 18 | No Comments

A few months after the agreement that saw BN di Navigazione – the company behind the BluNavy brand – acquire the Elba Ferries brand and its service slots from Corsica Ferries, the fast ferry CORSICA EXPRESS THREE has also changed hands as part of the same strategic move.

BluNavy’s CEO, Gianluca Morace, confirmed to FERRY SHIPPING NEWS that “the purchase was already included in the terms of the Elba Ferries deal but has simply been brought forward. The investment for the vessel is approximately EUR 3 million.”

The vessel’s deployment is still to be finalised. “As previously announced, during the next summer season, BluNavy will operate with the ferries ACCIARELLO and TREMESTIERI, which are already in service, along with the recently acquired AETHALIA, which will be active from the end of May,” Morace said.

CORSICA EXPRESS THREE is a high-speed vessel built in 1996 in Italy by the Rodriquez Shipyard. She measures 103 metres in length and 15 metres in width, has a maximum speed of 37 knots, and can carry over 500 passengers and 150 cars. In recent years, she has operated for Corsica Ferries on routes between Piombino–Portoferraio and Piombino–Bastia.