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2025 Newsletter week 34

Aug 22
3

KiwiRail Concludes iReX Ferry Replacement Project

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  • Settlement reached with Hyundai Mipo Dockyard to exit ferry contracts signed in 2021.
  • Final settlement: $144m; total paid to HMD: $222m (*)
  • Overall iReX project cost: $671m
  • $449m already spent on landside infrastructure, project management and wind-down costs
  • KiwiRail to work with Ferry Holdings and ports of Wellington and Picton on new ferries by 2029

(*) New Zealand Dollars

Source: KiwiRail

Ferry Shipping News – Tag Kiwirail

Aug 22
3

DFDS Q2 Result Lowered by Mediterranean Headwinds

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Q2 2025

  • Revenue: DKK 7.8bn (+3%, organic –2%)
  • EBIT: DKK 163m (–69%)
  • Adjusted free cash flow: DKK 538m (–26%)
  • CO₂ ferry emission intensity: –4.1%

Outlook 2025

  • EBIT: DKK 0.8–1.0bn (previously ~DKK 1.0bn)
  • Revenue growth: ~5%
  • Adjusted free cash flow: ~DKK 1.0bn (unchanged)

CEO’s comments

  • Most of the network performed as expected.
  • Mediterranean remains the key earnings challenge.
  • Logistics Boost turnaround on track.
  • Türkiye & Europe South turnaround slower; breakeven may be delayed.

Geopolitics

  • New EU–USA trade deal sets a 15% tariff on EU exports to USA.
  • Short-term EU growth may be impacted.
  • Nearshoring expected to accelerate trade with Türkiye and Morocco, benefiting DFDS’s network.

Read the Q2 2025 interim report

Or click on this cover below for the full presentation:

Aug 22
3

DFDS July Volumes: Solid Freight Growth in Most Areas

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Q2 2025

  • Revenue: SEK 961.1m (604.1m)
  • Adjusted EBIT: –SEK 17.7m (27.3m)
  • Net result after tax: –SEK 53.6m (55.1m)
  • Passenger growth on Gotland routes: +8.1%
  • Go Nordic Cruiseline: 182,500 passengers

H1 2025

  • Revenue: SEK 1,569.7m (989.0m)
  • Adjusted EBIT: –SEK 195.1m (–39.4m)
  • Net result after tax: –SEK 278.8m (92.3m)
  • Destination Gotland: passengers +4.7% (690,400), freight lane metres +2.6% (374,300)
  • Go Nordic Cruiseline: 317,000 passengers, 31,000 vehicles

CEO’s comments

  • Stable performance in Gotland traffic with positive June passenger growth.
  • Go Nordic Cruiseline weighed on results due to launch and lower onboard revenues.
  • Biogas investment and LNG bunkering agreements move traffic towards lower emissions.
  • Gotland Horizon X under construction for delivery in H2 2028.
  • New partnership: Gotland Hotels with Strawberry – Visby hotel to become a Quality Hotel in 2026.

Dividend: SEK 20.30 per share (9.80).

Source: https://corporate.gotlandsbolaget.se/sv/ (in Swedish)

Aug 22
3

Gotlandsbolaget H1 Impacted by Go Nordic Establishment

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Q2 2025

  • Revenue: SEK 961.1m (604.1m)
  • Adjusted EBIT: –SEK 17.7m (27.3m)
  • Net result after tax: –SEK 53.6m (55.1m)
  • Passenger growth on Gotland routes: +8.1%
  • Go Nordic Cruiseline: 182,500 passengers

H1 2025

  • Revenue: SEK 1,569.7m (989.0m)
  • Adjusted EBIT: –SEK 195.1m (–39.4m)
  • Net result after tax: –SEK 278.8m (92.3m)
  • Destination Gotland: passengers +4.7% (690,400), freight lane metres +2.6% (374,300)
  • Go Nordic Cruiseline: 317,000 passengers, 31,000 vehicles

CEO’s comments

  • Stable performance in Gotland traffic with positive June passenger growth.
  • Go Nordic Cruiseline weighed on results due to launch and lower onboard revenues.
  • Biogas investment and LNG bunkering agreements move traffic towards lower emissions.
  • Gotland Horizon X under construction for delivery in H2 2028.
  • New partnership: Gotland Hotels with Strawberry – Visby hotel to become a Quality Hotel in 2026.

Dividend: SEK 20.30 per share (9.80).

Source: https://corporate.gotlandsbolaget.se/sv/ (in Swedish)

Aug 22
3

Viking Line: A Challenging Half-Year with Improved Results in the Second Quarter

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  • Q2 2025 sales rose to EUR 128.4m (EUR 125.9m in 2024) with operating income of EUR 6.9m (EUR 6.2m) and pre-tax income of EUR 4.8m (EUR 1.8m).
  • For H1 2025, sales reached EUR 215.8m (EUR 219.1m), with an operating loss of EUR -11.2m (EUR -4.3m) and pre-tax loss of EUR -17.2m (EUR -12.4m). Results were impacted by the dockings of GABRIELLA and VIKING XPRS, as well as higher costs for emission allowances and fairway dues.
  • Passenger volumes declined slightly to 2.0m, with a 31.6% market share. Freight volumes improved to 71,324 units, giving a 19.5% share.
  • Investments amounted to EUR 12.4m, mainly related to GABRIELLA and VIKING XPRS.
  • The Board approved a second instalment dividend of EUR 0.50 per share, totalling EUR 8.6m, to be paid on 25 August.

President and CEO Jan Hanses said the profit trend in Q2 was stronger than the previous year, with improvements seen in all months of the quarter. He noted that demand during the high season months of July and August is forecast to be good, though the autumn outlook remains uncertain.

The Board expects full-year pre-tax profits to be on par with 2024, despite economic headwinds in Finland and Sweden, geopolitical risks, and rising environmental compliance costs.

Full details: Viking Line

Aug 22
3

Godby Shipping have bought the RoRo vessel TRANSPORTER from Eckerö Shipping Ab Ltd.

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The vessel, built in 1991, has a capacity of approximately 1250 lane meters and is ideally suited for transporting paper and a wide range of rolling cargo, including trailers, mafis, trucks, and heavy machinery.

The vessel is currently on time charter to DFDS in their liner trade between Fredrikstad (No), Halden (No), Zeebrugge (Be), and Immingham (UK).

Godby will take over the time charter with DFDS until end December 2025.

The delivery will take place within the trading area between 15 October and 22 November 2025.

The ship will keep its name, TRANSPORTER.

The vessel’s current crew will remain onboard, ensuring continuity of service for DFDS.

Aug 22
3

Dublin Port Opens Phase Two of Terminal 4

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  • Phase Two of Terminal 4 (T4) at Dublin Port opens this week.
  • Some 160 new trailer spaces are being added, increasing operating land capacity.
  • This equals over 100,000 truck movements annually.
  • Investment: €11.7m by Dublin Port.

T4 will be operated by Doyle Shipping Group (DSG), working directly with shipping lines across all cargo types between Ireland, the UK, and mainland Europe.

Source: Port of Dublin

Aug 22
3

Interferry: EU Entry-Exit System To Start On 12 October 2025

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  • The EU will launch the Entry-Exit System (EES) on 12 October 2025, with a progressive, six-month roll-out.
  • EES records non-EU travellers’ biometrics (face and fingerprints) and replaces passport stamps at external Schengen borders. Applies from age 12.
  • Ferry routes linking third countries to the EU, e.g. UK and Morocco, will be affected. Expect extra border processing.
  • Interferry warns of port delays, especially for car and coach passengers, and calls 100% biometric checks from day one unworkable.
  • New Regulation (EU) 2025/1534 allows a ‘progressive approach’ to implementation. Member States choose pace and must file national plans by 25 September 2025.
  • Communication duties are with port operators as border-crossing infrastructure owners, not ferry companies. Operators should stay in close contact with their ports.
  • Interferry contact for guidance: Johan Roos, Director of Regulatory Affairs.

Interferry.com

Aug 22
3

Björn Boström Resigns as Managing Director of Port of Ystad

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Port of Ystad’s Managing Director, Björn Boström, has announced his resignation after 17 years in the role. He will remain in office at least until the new year, with his final day to be confirmed later. “My intention is to start my own business as the beginning of my way to retirement,” said Mr Boström.

Since joining the port in 2008, Boström has successfully led both operations and development. The board expressed regret at his decision but fully respects it, and will now focus on finding a successor to continue the port’s positive development.

Björn Boström has always been very supportive of Ferry Shipping News and the Summit, and we would like to thank him for that.