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2026 Newsletter week 34

Aug 24
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ICG Revenue Rises as Higher Costs Weigh on Profit

By 2026 Newsletter week 34

Irish Continental Group (ICG) reported revenue of €359.9 million for the first half of 2026, up 16.1% compared with the same period last year.

EBITDA increased by 7.3% to €58.9 million, while operating profit declined by 2.4% to €24.0 million. The Group attributed the pressure on profitability to higher fuel, environmental and port costs, as well as the operating costs of additional vessels.

The Ferries Division generated revenue of €237.9 million, an increase of 15.5%. EBITDA rose by 4.8% to €41.9 million and operating profit increased by 5.0% to €14.8 million.

RoRo freight volumes increased by 4.1% to 409,500 units, supported by JAMES JOYCE operating throughout the full reporting period. Car volumes declined by 5.7% to 249,700, while passenger numbers decreased by 1.6% to 1.26 million.

Trading weakened further during the peak summer period. Between 1 July and 15 August, car volumes were down 7.9% and RoRo freight volumes fell by 9.3% year-on-year. ICG described this development as a significant challenge, particularly given the continued high fuel prices and difficulty of recovering these costs through passenger fares.

ICG Half-Year Report 2026

Aug 24
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Port of Antwerp-Bruges Secures €500 Million Credit Facility

By 2026 Newsletter week 34

Port of Antwerp-Bruges has secured a €500 million revolving credit facility from six Belgian and international banks.

The credit line is the first step in a new financing strategy supporting an investment programme of approximately €5 billion over the next ten years. Planned projects include the redevelopment of the Europa Terminal in Antwerp and the cruise terminal in Zeebrugge.

KBC Bank acts as coordinator and agent, while ABN AMRO is sustainability coordinator. Belfius, Rabobank, Crédit Agricole CIB and Société Générale also participate.

Read the Port of Antwerp-Bruges media release (in Dutch)

Aug 24
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SEAROAD I on Sea Trials in Germany

By 2026 Newsletter week 34

Sea trials have begun in Germany for SeaRoad’s new LNG-powered RoRo vessel SEAROAD I.

The trials will verify the vessel’s propulsion, manoeuvring, performance and onboard systems ahead of delivery. SEAROAD I is scheduled to enter service between Melbourne and Devonport in September 2026.

At 210 metres long and 29.3 metres wide, the 43,080 GT vessel will be the largest ship operated by SeaRoad. It provides 3,722 lane metres for trailers and other freight, plus capacity for 101 cars, bringing total capacity to 4,227 lane metres. Individual heavy and oversized cargo units weighing up to 100 tonnes can also be accommodated.

Construction had formally restarted in March 2025 after the yard was acquired and relaunched by the Heinrich Rönner Group. Delivery remains targeted for the third quarter of 2026.

Aug 24
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Eckerö Line Installs Solar Panels on FINBO CARGO

By 2026 Newsletter week 34

Eckerö Line has installed 120 solar panels on FINBO CARGO. The system is expected to generate approximately 70 MWh of electricity annually and save around 15 tonnes of fuel per year.

The panels are now operational and will supply electricity to the vessel when sufficient solar energy is available. The system can also be expanded at a later stage.

The installation was carried out by Solel Åland as part of Eckerö Line’s efforts to improve energy efficiency and reduce its environmental impact.

Aug 24
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Ferguson Marine Opens Voluntary Redundancy Programme

By 2026 Newsletter week 34

Ferguson Marine has opened a voluntary redundancy programme as it prepares for a gap between completing its current order book and beginning its next shipbuilding contracts.

Up to 70 employees are expected to leave through the consultation process. The yard said its workload is reducing as GLEN ROSA enters the final outfitting and commissioning stages ahead of delivery in Q4 2026.

In March, the Scottish Government announced its intention to make a strategic direct award to Ferguson Marine for four vessels. These comprise two ferries for Caledonian Maritime Assets Limited under the Small Vessel Replacement Programme, a Marine Protection Vessel and a Marine Research Vessel. Due diligence is continuing before the contracts can be finalised.

CEO Graeme Thomson said the measures would align the size and skills of the workforce with the yard’s transitional workload and prepare it to begin the new programme as soon as possible.

Ferguson Marine said the redundancies would not affect the remaining work or delivery schedule for GLEN ROSA.

Aug 24
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Baleària Moves Closer to Own Ferry Terminal in Valencia

By 2026 Newsletter week 34

Baleària has moved a step closer to securing its own passenger and freight terminal at the Port of Valencia after no competing proposals were submitted during the one-month public consultation period.

The Port Authority of Valencia (APV) will now proceed with preparing the concession terms and processing the project before a final decision by its Board of Directors.

Baleària is seeking a 35-year concession for an 80,704 m² site at the South Dock, close to its current operations at the Turia Dock. The new facility would be dedicated exclusively to ferry passengers and freight.

The project replaces an earlier terminal concession awarded in 2022 and cancelled by APV in November 2025 as part of plans to reconsider the integration of passenger-port activities with the city.

Unlike the previous €100 million project, which also included cruise traffic and involved a partner, the new proposal is being developed by Baleària alone and has a smaller footprint.

Aug 24
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New Expian Report Says Ferry Operators Should Focus on AI Readiness before AI Adoption

By 2026 Newsletter week 34

Expian has published a new report advocating ferry operators to focus on modernising their booking systems and data infrastructure before investing in AI.

The report, AI on the Horizon: The Ferry Operator’s Guide to Modernising the Booking Experience, notes that the maritime AI market was valued at £4.13 billion in 2024 and is projected to grow at a 23% compound annual growth rate by 2029, citing Lloyd’s Register.

Despite growing interest in AI, Expian argues that many operators are still constrained by legacy booking platforms and fragmented data, limiting their ability to benefit from emerging technologies.

“Rushing to add complexity or tick a tool off your checklist is a recipe for disaster,” said Yiannis Maglaras, CEO of Expian. “AI-readiness is about understanding your system today and what you want it to do for you tomorrow.”

The report identifies four pillars of AI readiness: connected data, flexible infrastructure, organisational readiness, and governance. It also outlines how modern ticketing platforms could enable dynamic pricing, personalised offers, automated disruption management and conversational booking, while warning that deploying AI on top of legacy systems could increase operational and compliance risks.

Click for the full report is available to download here 

Aug 24
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Charles-Henry de Lignac to Lead La Méridionale

By 2026 Newsletter week 34

Charles-Henry de Lignac will become Managing Director of La Méridionale on 1 September, succeeding Étienne Melliani, who was appointed in January 2026.

Melliani will remain within the CMA CGM Group and is reportedly set to join its Mediterranean Short Sea Lines activities.

De Lignac, who has previously held management responsibilities at La Méridionale, becomes the company’s fourth Managing Director in around three years. The company says his appointment will ensure continuity of ongoing projects and support its next phase of development.

The management change comes as La Méridionale prepares for the delivery of two new 180-metre LNG-powered RoPax vessels in the first quarter of 2027. The ships, intended for services between mainland France and Corsica, will accommodate 1,000 passengers and freight.

Aug 24
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Jarosław Kotarski Appointed President of PŻB

By 2026 Newsletter week 34

Polska Żegluga Bałtycka (PŻB), operating under the Polferries brand, has appointed Jarosław Kotarski as President of its Management Board. He took up the position on 19 August, succeeding Piotr Redmerski.

Kotarski brings extensive maritime and ferry experience. A graduate of the Maritime University of Szczecin, he has worked within the Polska Żegluga Morska group since 1993. He previously headed Unity Line and served in senior management positions at Żegluga Polska.

Remark (source: gospodarkamorska.pl): Redmerski was dismissed due to changes in the management structures of the shipping companies and the need to separate responsibilities within PŻB in connection with the establishment of the POLSCA brand by PŻB, PŻM, and EuroAfrika.