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2025 Newsletter week 45

Nov 06
3

DFDS Q3 of Transition Year 2025

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Key figures

  • Revenue up 4% to DKK 8.3bn (organic growth -2%)
  • EBIT down 32% to DKK 536m
  • CO₂ ferry emission intensity lowered 2.7%

Outlook 2025

  • EBIT lowered to DKK 0.6–0.75bn (previously DKK 0.8–1.0bn, excl. one-off cost)
  • One-off cost of around DKK 100m in Q4 for Cost Reduction Programme
  • Adjusted free cash flow now expected around DKK 0.9bn (down from DKK 1.0bn)

CEO’s Comments
2025 is a transitional year for DFDS, setting the stage for stronger financial performance after a challenging 2024. A new Cost Reduction Programme targets DKK 300m savings in 2026.

Focus Areas

  • Logistics Boost: Progressed in line with expectations; further gains expected in Q4.
  • Mediterranean Network: New pricing model (launched Sept 2025) shows initial yield recovery.
  • Türkiye & Europe South: Improvement slower than expected amid tough markets.

Network Performance
Results outside the focus areas were solid and exceeded 2024 levels (adjusted for route changes).

  • North Sea: Stable freight operations.
  • Baltic Sea: Strong quarter; further improvement expected via new space charter.
  • Channel: Good performance despite extra costs for Jersey routes.
  • Strait of Gibraltar: On target; two additional ferries to join in 2026 (pending approval).
  • Logistics: Nordic and Continent units adapted to low growth; UK & Ireland remained stable.

Outlook Summary
EBIT outlook revised down due to uncertainty in Mediterranean ferry and logistics activities, plus one-off programme costs.

Read the DFDS Q3 2025 Interim Report here.

Nov 06
3

DFDS Launches Cost Reduction Programme To Strengthen Financial Performance

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As outlined earlier this year, 2025 is a transitional year for DFDS, focused on laying the foundation for improved financial performance following the challenges of 2024.

To accelerate this transition, DFDS announced a Cost Reduction Programme targeting DKK 300m of savings in 2026.

The programme will deliver approximately DKK 300m in cost reductions in 2026, primarily through a reduction of around 400 office-based positions and additional efficiency measures across the organisation.

Implementation is expected to be completed by the end of Q1 2026, with a one-off cost of around DKK 100m — mainly related to redundancies — to be recognised in Q4 2025.

Nov 06
3

Stena Line to Acquire Wasaline and Strengthen Its Baltic Sea Presence

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Stena Line will acquire NLC Ferry Ab Oy/Wasaline, taking over the operation of the ferry route between Umeå (Sweden) and Vaasa (Finland).

When will the transfer of ownership take place?

In the beginning of 2026, after city councils and authorities have approved the deal.

What happens to ferry AURORA BOTNIA?

Kvarken Link, a company owned by the cities of Vaasa and Umeå, continues to own the ship. NLC Ferry, under the new ownership, charters and mans the ship.

 

The Wasaline brand will remain.

What are the minimum requirements for traffic?

Agreement between Vaasa, Umeå and Stena Line states a minimum of 20 departures per week. At the moment, there are 20-26 departures (winter-high season).

For how long is the contract valid?

The charter agreement and the traffic requirements are agreed for 10 years, after which Stena Line has the possibility to either extend the agreement or to purchase the ship. Stena Line has expressed their long-term commitment to operate and develop the route.

Nov 06
3

Five RoPax Ships Put Up for Sale by Moby and CIN

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Following the green light from the Italian Antitrust Authority for the agreement that separates Moby from MSC and its ferry company GNV, the Onorato-controlled group moved immediately to sell five of its current vessels and use the proceeds to repay loans provided by MSC in 2023 to keep the company solvent.

To repay the debt, Moby has scheduled an online auction for next week, 12 November. Five of the company’s vessels will be offered in a single lot with a starting price of EUR 229.9 million. The auction lists five RoPax units: MOBY AKI and MOBY WONDER (to be chartered back to Moby for 15 years at a daily rate of EUR 15,000), MOBY ALE DUE, ATHARA, and JANAS.

Nov 06
3

SEALANDIA SEAWAYS To Sail on Tunis–Marseille After Sale of CAPPADOCIA SEAWAYS

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DFDS has entered an agreement to sell the freight ferry CAPPADOCIA SEAWAYS after more than 23 years of service, as part of its ongoing fleet optimisation programme.

  • The vessel operated within DFDS’s Mediterranean network.
  • SELANDIA SEAWAYS (197m, 2,772 lane metres / 177 trailers) will take over operations on the Tunis–Marseille route.
  • GALLIPOLI SEAWAYS will replace CAPPADOCIA SEAWAYS on the Mersin–Trieste route.

The Tunis–Marseille service has seen steady volume growth, and DFDS expects SELANDIA SEAWAYS to further strengthen capacity and support continued expansion.

“We are optimising operations to ensure our fleet is aligned with current and future demands,” says Mathieu Girardin, EVP and Head of Ferry Division. “By deploying SELANDIA SEAWAYS and optimising across our Mediterranean network, we maintain frequency and service quality while supporting trade between Europe, Türkiye and North Africa.”

Nov 06
3

Ferry PANORAMA launched on the Saronic Gulf service

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On November 6, 2025 Olympian Ferries Panorama introduced on the Piraeus-Aigina route. The ship will depart daily from the port of Piraeus at 08.00, 12.00 and 16.00, while the return trip from Aigina will be at 10.00, 14.00 and 18.00. Panorama was serving on the Agios Konstantinos-Sporades Islands (Skiathos-Skopelos-Alonissos) line the previous two summer periods. She will be the largest and fastest ferry of the line and is expected to upgrade the services on the Aigina line. She was built in Germany in 1987 for the state-owned company Trinidad and Tobago Inter-Island Ferry Service. Sold in Greece (Panorama Shipping) in 2010 and served on the Rafina-Marmari route until 2024. Her carrying capacity is for 800 passengers and 160 cars. Her service speed is 18 knots.

Photo: Olympian Ferries

Nov 06
3

CALLIRHOE: One More Ship in the Saronic Ferries Fleet

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According to a Saronic Ferries press release, its new acquisition from Japan, YABUSA (ex HAYABUSA No.3), will be renamed CALLIRHOE and will become the sixth addition to the Saronic Ferries fleet.

In Greek mythology, Callirrhoe was one of the Oceanids, daughter of Oceanus and Tethys — a symbol of purity, flow, and the constant renewal of waters. The name therefore reflects Saronic Ferries’ philosophy: respect for the sea, consistency in movement, and continuous evolution.

The ship is being refurbished and upgraded to high-quality standards to offer a modern, comfortable, and environmentally friendly travel experience. Thanks to the excellent design of her Japanese hull and improved fuel efficiency, CALLIRHOE’s energy-efficient operation reduces her environmental footprint and enhances the “greener” nature of travel in the Saronic Gulf.

CALLIRHOE was purchased from Seikan Ferry in 2024. She was built in Japan in 2000 and has a capacity of 1,150 passengers and 130 cars, with a service speed of 20 knots.

Photo: Saronic Ferries

Nov 06
3

New RoRo Line Connects Haydarpaşa, Marseille and Tarragona

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Ferry Shipping News listened to the DFDS Q3 results broadcast and heard CEO Torben Carlsen mention a new RoRo route between Türkiye and Spain.

United Global RoRo (UGR) has indeed launched a new RoRo service linking Haydarpaşa (Istanbul), Marseille, and Tarragona, expanding the freight corridor between Turkey, France, and Spain.

  • Start date: 6 November 2025
  • Ships: POL STELLA and ABU SAMRAH
  • Frequency: Two weekly round trips, served by three vessels
  • Cargo: Fully-roll vehicles (new or used), trailers, and towed units. Containers are not accepted under the current licence
  • Schedule highlights:
    • Departures from Haydarpaşa on Thursdays and Sundays (early morning)
    • Calls at Marseille on Wednesdays and Sundays
    • Calls at Tarragona on Thursdays and Mondays

By including both Marseille and Tarragona, UGR enhances access to the French and Spanish hinterlands, supporting automotive and industrial exports.

Nov 06
3

Tallinn and Stockholm Ports Launch “Swed-Est Green Collaboration”

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On 4 November, Port of Tallinn and Ports of Stockholm signed a Memorandum of Understanding in Tallinn to launch the Swed-Est Green Collaboration — a joint initiative to promote sustainable and fossil-free maritime and port operations between Estonia and Sweden, primarily on the Tallinn–Stockholm and Paldiski–Kapellskär routes.

Key goals:

  • Reduce environmental impact and support fossil-free maritime transport.
  • Develop new business models, research projects, and access EU funding.
  • Increase passenger volumes, freight flows, and ship calls to boost regional economies.

Planned actions include:

  • Installation of onshore power supply (OPS) for RoPax vessels in Paldiski South Harbour and Kapellskär by 2030.
  • Investment in renewable energy such as solar panels and CO₂-free heating and power systems.
  • Improved waste management and circular economy solutions, including food waste biogas production and potential greywater reuse.
  • Transition to emission-free port equipment and electrified heavy transport.

Valdo Kalm, CEO of Port of Tallinn, said the partnership gives both ports a strategic edge, offering sustainable solutions for passengers and freight operators.
Magdalena Bosson, CEO of Ports of Stockholm, highlighted the shared responsibility between the two countries: “Sweden and Estonia share the same sea and the same duty to protect it.”

The initiative marks a new phase of maritime cooperation in the Baltic Sea, strengthening the path towards cleaner, more sustainable port operations.