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2026 Newsletter week 33

Aug 17
Love3

DFDS Launches Strategy Review As Q2 Earnings Improve

By 2026 Newsletter week 33

DFDS has launched a strategic review aimed at defining its long-term vision, positioning and priorities, as the group reported improved financial performance in Q2 2026.

“We have launched a strategy review to clarify our long-term vision, positioning, and priorities,” said Michael Hansen, CEO of DFDS. The review, including new financial ambitions, is expected to be completed within six months.

Hansen acknowledged that while DFDS is well positioned in most of its markets, its financial performance remains “far from where it should be”, making improved profitability a top priority.

In Q2, revenue increased 10% to DKK 8.6bn, while EBIT improved by DKK 291m to DKK 454m. Both the Ferry and Logistics divisions increased earnings compared with Q2 2025. Adjusted free cash flow reached DKK 728m and financial leverage improved to 3.4x NIBD/EBITDA.

DFDS also raised its 2026 outlook. Revenue growth is now expected at 3-5%, while the EBIT outlook has been narrowed upwards to DKK 1.2-1.4bn. Adjusted free cash flow is expected at around DKK 500m.

CO2e emission intensity across the total network increased by 2.0% during the quarter.

Read the Q2 2026 interim report here:

https://www.dfds.com/en/about/investors/reports-and-presentations/q2-report-2026

Aug 17
Love3

DFDS July Volumes

By 2026 Newsletter week 33

DFDS transported 3.5m freight lane metres in July 2026, down 3.2% compared with July 2025.

North Sea volumes were just below last year as growth on Continent–UK routes was offset by lower volumes out of Scandinavia. Mediterranean volumes declined due to a softer overall market and reduced capacity on certain routes, while Channel volumes were also below 2025.

Baltic Sea freight volumes remained stable. Strait of Gibraltar volumes increased, while growth continued on the Egypt route.

Over the last twelve months, freight volumes increased 0.3% to 41.8m lane metres, but decreased 0.5% when adjusted for route changes.

Passenger volumes decreased 1.6% in July to 752,000, mainly due to lower traffic on the Strait of Gibraltar. On a rolling twelve-month basis, passenger numbers were down 15.0%, or 5.1% adjusted for route changes.

Aug 17
Love3

Viking Line: Half Year Financial Report January – June 2026

By 2026 Newsletter week 33

Q2, 2026 

  • Sales amounted to EUR 129.3 M (EUR 128.4 M).
  • Other operating revenue was EUR 0.4 M (EUR 0.2 M).
  • Operating income totalled EUR 6.8 M (EUR 6.9 M).
  • Net financial items were EUR -5.9 M (EUR -2.0 M).
  • Income before taxes totalled EUR 0.9 M (EUR 4.8 M).
  • Income after taxes was EUR 0.8 M (EUR 4.8 M).

H1, 2026 

  • Sales amounted to EUR 214.0 M (EUR 215.8 M).
  • Other operating revenue was EUR 0.5 M (EUR 0.6 M).
  • Other operating income totalled EUR -12.0 M (EUR -11.2 M).
  • Net financial items were EUR -6.6 M (EUR -6.0 M).
  • Income before taxes totalled EUR -18.6 M (EUR -17.2 M).
  • Income after taxes was EUR -18.7 M (EUR -17.3 M).
  • Investments mainly in Viking Grace totalled EUR 11.0 M (EUR 12.4 M mainly in Gabriella and Viking XPRS).

Outlook for the financial year 2026

The Board of Directors has previously assessed that the uncertainty regarding cost levels, energy prices and market developments has been such that the Company has not provided any forecast for the full-year 2026 result.

The Board of Directors estimates that higher energy prices, both through their direct impact on the Group’s cost base and their indirect impact on consumer demand, together with weaker performance in the Group’s associated companies, will result in income before taxes for the 2026 financial year being lower than in 2025.

Aug 17
Love3

Bornholmslinjen Records Second-Best July

By 2026 Newsletter week 33

Bornholmslinjen recorded its second-best July ever, carrying 373,043 passengers to and from Bornholm, up 4.4% compared with July 2025. Car volumes increased 5.7% to 99,811 vehicles.

However, the strong traffic figures were accompanied by significant delays, resulting in a penalty of more than DKK 1.3 million for operator Molslinjen.

Commercial Director Lucas Kragh pointed to reconstruction works at the Port of Rønne and speed restrictions in Ystad as contributing factors. Molslinjen will conduct a deeper analysis of the delays after the high season.

Aug 17
Love3

Scandlines Carries 1.17 Million Passengers in July

By 2026 Newsletter week 33

Scandlines carried 1.173 million passengers on its Puttgarden–Rødby and Rostock–Gedser routes in July, slightly up from 1.152 million in July 2025.

The busiest day was 18 July, when almost 62,000 passengers travelled with Scandlines, more than 10% above last year’s busiest day and the highest daily figure since before the pandemic.

Scandlines says additional capacity provided by the new freight ferry THE BALTIC WHALE helped accommodate the strong summer demand (it freed up additional capacity on the other ferries). The company expects to carry around 2.5 million passengers over the three summer months.

Photo: Matthias Tasler for Scandlines

Aug 17
Love3

DP World Revenue Rises 13.1% in H1 2026

By 2026 Newsletter week 33

DP World, parent company of P&O Ferries, reported revenue of $12.7 billion for the first half of 2026, up 13.1% year-on-year. Growth across Logistics, Marine Services and the international Ports and Terminals portfolio helped offset lower activity at Jebel Ali, where vessel traffic was affected by disruption in the Middle East.

Adjusted EBITDA declined 5.6% to $2.86 billion, while container volumes excluding Jebel Ali increased 6.5% on a like-for-like basis. DP World invested $1.5 billion during H1 and expects total capital expenditure of approximately $3 billion in 2026.

Aug 17
Love3

Fred. Olsen Cargo Express Surpasses One Million Tonnes

By 2026 Newsletter week 33

Fred. Olsen Cargo Express has transported more than one million tonnes of freight and 140,000 linear metres of cargo since launching its specialised freight service in May 2024.

The operation was strengthened in July 2025 with the addition of RoRo vessel BREÑAS CARGO, joining BENTAYGA CARGO and BAHÍA CARGO. The three vessels are dedicated to inter-island freight services in the Canary Islands.

The network includes three weekly sailings between Tenerife and La Palma, as well as connections linking La Palma with Gran Canaria, Fuerteventura, Lanzarote and the Spanish mainland via Huelva.

Aug 17
Love3

Dodekanisos Seaways Ordered a Third High-Speed Catamaran in Norway

By 2026 Newsletter week 33

Greek ferry operator Dodekanisos Seaways has returned to Norwegian shipbuilder GOT Marine after a 20-year gap and ordered a third high-speed catamaran.

The key facts are:

  • The new vessel will be a Sealord 41, GOT Marine’s own design.
  • Length: 41m.
  • Capacity: more than 300 passengers and six cars.
  • Contract value: just under NOK 200 million.
  • Delivery: autumn 2027.
  • Construction is starting immediately at Mandal, Norway.
  • Dodekanisos Seaways already operates two vessels built by the yard: DODEKANISOS EXPRESS, delivered in 2000, and DODEKANISOS PRIDE, delivered in 2005.
  • Potentially more interesting for FSN: the operator has indicated interest in vessels four and five, suggesting this could develop into a larger fleet renewal programme.

That last element would be worth putting prominently into an FSN piece: one confirmed vessel, with two more potentially following.

Rendering: GOT Marine

Read the original GOT Marine article

Aug 17
Love3

Klaipėda Ferry Freight Volumes Continue to Grow

By 2026 Newsletter week 33

The Port of Klaipėda recorded further growth in its RoRo sector during the first half of 2026, with cargo transported by ferries reaching almost 3.4 million tonnes, up 4% year-on-year.

The number of freight vehicles handled increased to 173,505 units, compared with 169,280 in H1 2025. Growth was particularly strong on ferry connections with Germany and Sweden.

Klaipėda was the only Baltic seaport to increase overall cargo volumes during the period, expanding its share of the Baltic States port market to 44%.

https://portofklaipeda.lt/en/naujienos/klaipeda-port-reports-growth-and-expanding-baltic-market-share/

Aug 17
Love3

Mathieu Girardin Steps Down as Head of DFDS Ferry Division

By 2026 Newsletter week 33

Mathieu Girardin has stepped down as EVP, Head of Ferry Division and member of the Executive Management Team at DFDS.

Girardin joined DFDS in October 2022 and led the transformation and expansion of the Ferry Division during his nearly four-year tenure.

CEO Michael Hansen has assumed responsibility as Interim Head of Ferry Division until a successor is appointed. DFDS has initiated the recruitment process.