Dec 15
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Stena Q3 Report

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Stena AB and consolidated subsidiaries, condensed consolidated interim report for the nine-month period 1 January – 30 September 2023:

  • Consolidated EBITDA: SEK 10,904 (10,551) million.
  • Consolidated operational EBITDA, excluding net gain on sale of assets and change in fair value of investment properties: SEK 10,902 (9,560) million.
  • Result before taxes: SEK 2,434 (2,418) million.
  • Liquidity position remains healthy. As per 30 september 2023 available liquidity amounted to SEK 25.6 billion.

Ferry Operations

  • Operational EBITDA decreased by SEK 606 million to SEK 3,583 (4,189) million.
  • Travel volumes remain strong partly offset by a softer freight market together with increased costs compared to last year mainly related to increased bunker cost.
  • Freight volumes decreased 3% compared to last year, car volumes decreased 2% compared to last year and passenger volumes increased 1% compared to last year.

RoRo Operations

Operational EBITDA from chartering out Ro-Ro/Pax ferries increased by SEK 212 million to SEK 653 (441) million mainly due to larger fleet in operation compared to the same period last year.

Currency

Stena reports in Swedish kronor, which is significantly affected by fluctuations in currency

exchange rates, primarily relative to the U.S. dollar, the British pound and the Euro.

Revenues:

27% in USD, 22% in EUR, 16% in GBP and 23% were generated in SEK.

Expenses:

29% in USD, 19% in EUR, 19% in GBP and 20% were incurred in SEK.

Dec 15
0

Newbuilding contract for a Norwegian ferry

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Remontowa Shipbuilding has signed a contract with Torghatten Nord AS to construct a hybrid-powered double-ended ferry for the Stornes-Bjørnerå route in Norway (Arctic Circle region).

Newbuilding “B620” will be fitted with two azimuth thrusters with vertically mounted electric motors powered either by batteries or, in case of emergency, by generating sets.

Normally, the batteries will be recharged from the shore grid during unloading/loading. This will occur relatively frequently, as a single vessel transit will take no more than 12 minutes.

Design: The Norwegian Ship Design Company AS + Remontowa Marine Design & Consulting Delivery: Q1, 2026.

  • Length overall: 63,65
  • Beam: 15,50
  • Depth to the main deck: 4,80 m
  • Passengers and crew: 149 persons
  • Personal car capacity: 50 pcs
  • Trailer capacity: 6 pcs

Photo: Dariusz Jaguszewski, CEO and Michał Jaguszewski, contracting director at Remontowa Shipbuilding S.A., Torkild Torkildsen, CEO at Torghatten Nord AS and Jacek Flasiński, CFO at Remontowa Shipbuilding S.A.

Photo: Torghatten Nord

Dec 15
0

BC Ferries gets green light to order more ferries

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After the major capital expenditure approval by the BC Ferries Commissioner, BC Ferries is able to take the next step towards the purchase of four new hybrid electric Island Class vessels that will increase capacity for passengers across the ferry system.

By 2027, the four new vessels will enter service on the routes connecting Nanaimo Harbour and Gabriola Island (two vessels) and Campbell River and Quadra Island (two vessels), with corresponding electrical upgrades for shore-based rapid charging made to the four terminals on these routes.

BC Ferries now continues through the procurement process, with negotiations to begin imminently.

Source: BC Ferries
Dec 15
0

Finnlines welcomes FINNCANOPUS

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Finnlines took delivery of FINNCANOPUS, which is the second of two Superstar-series Ro-Pax ferries, at the China Merchants Jinling Shipyard in Weihai, China, on 12 December 2023.

The vessel will enter Finnlines’ line between Finland and Sweden (Naantali–Långnäs–Kapellskär) in February 2024.

Dec 15
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Stena RoRo presents more “Flexers”

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In a recent website update, StenaRoRo presents three designs of Ro-Pax and Ro-Ro vessels, showcasing their usual high flexibility, which includes multifuel options, and more.

Three models:

E-FLEXER 300-500

C-FLEXER

NEW MAX

In May, Stena Line announced two NewMax hybrid vessels to be built for the Irish Sea.

The two all-new hybrid propulsion vessels, designed to run on methanol and adding 80% capacity on the Belfast-Heysham route, will be ready in 2025.

Source: StenaRoRo
Dec 15
0

Unity Line and Port of Trelleborg sign a new five-year agreement

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  • Unity Line has operated the Trelleborg—Swinoujscie route since February 2007.
  • Positive, steady growth in traffic on the route with over 10% annual volume increase.
  • Unity Line currently operates 4 vessels on the Trelleborg—Swinoujscie route.
  • Ro-Pax EPSILON (chartered by Irish Ferries since 2014) will replace GALILEUSZ as from January 2024. Both vessels are owned by companies within the Polish company Euroafrica.
  • Lanemetre increase from 1,830 to 2,860.
  • Two additional vessels under construction in Poland will join the route in 2025 and 2026.
  • Agreement is effective from January 1, 2024, to December 31, 2028.
Dec 15
0

New Mersey ferry to be built by Cammell Laird

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Cammell Laird, part of the APCL group, signed a deal with the Liverpool City Region Combined Authority to construct the first new Mersey ferry in 60 years.

The Birkenhead facility will design and build the state-of-the-art vessel on-site, featuring green technology such as an Azi-pull propeller system for reduced fuel usage and a diesel-electric hybrid-ready propulsion system.

Scheduled for completion by the end of 2025, the project signifies a major vote of confidence in Cammell Laird and follows a process initiated in 2016.

David McGinley, Chief Executive of Cammell Laird, with Metro Mayor Steve Rotheram and Katherine Fairclough, CEO of Liverpool Region Combined Authority.

Dec 15
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Brittany Ferries welcomes move to allow French school groups to travel to UK on ID cards, rather than passports

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James Cleverly UK home office minister announced the changes in a statement to the House on 7th December 2023. Passports will no longer be a requirement for travel: French students under 18 years of age will be able to come to the UK on an ID card.

In 2023 Brittany Ferries carried just 41,061 French children on school trips – a fall of 55 per cent following the introduction of new post-Brexit border controls in 2021 (in 2019 91,764 were carried).

Dec 15
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Scandlines orders new onshore charging solution from NES

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Scandlines has contracted Norwegian Electric Systems AS (NES) to deliver an onshore charging system to the ferry operator’s berth in Puttgarden, Germany. In April 2022, NES already signed a contract to deliver the shore power solution in Rødby on the Danish side of the route.

“With a battery pack of ten megawatt-hours, equivalent to the combined capacity of about 150 electric cars, the ferry’s battery capacity will be among the world’s largest on a ship. Rapid charging is essential for the ferry while it is unloading vehicles and should take about 12 minutes. Imagine charging 150 electric vehicles with one charger in 12 minutes only. While fast charging a car is one thing, handling this amount of energy is quite another matter,” says Jan Klokk, VP Sales at NES.

Dec 15
0

Tallink Grupp signs syndicate loan agreement, resulting in the repayment of the 100 million euro loans from KredEx and Nordic Investment Bank received in 2020

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Tallink Grupp signed the refinancing agreement of the company’s syndicated loan, as a result of which the company will repay several significant loans taken in recent years.

Tallink Grupp has consistently reduced the company’s debts in recent years, repaying various loans in the amount of 110 million euros in 2022 and in the amount of 175 million euros in 2023.