Fleet restructuring from Attica after the merger with Anek Lines

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Following the recent successful approval of the merger plan, which involves the absorption of ANEK by Attica, the Group is now embarking on a new “green era” marked by both new investments and organic growth. In the initial phase, the giant ferry operator is undertaking fleet restructuring within the Hellenic Coastal Shipping.

Specifically, the Group plans to operate four large vessels on the Piraeus–Crete service, all adorned with the distinctive Anek Lines’ livery. The vessels assigned to the Piraeus-Chania line will be ELYROS (1998) and EL. VENIZELOS (1992), while those on the Piraeus–Heraklion line will include LEFKA ORI -formerly BLUE HORIZON- (1987) and KISSAMOS -formerly BLUE GALAXY (1992), both of which have already been painted white. There are considerations for replacing EL. VENIZELOS with another vessel boasting a larger car capacity, aligning with the Group’s focus on enhancing the truck service on the Cretan lines.

Conversely, in the Adriatic service, it has been decided that two additional ships will be operated by Superfast and will also feature a red livery.

The first vessel, the Japanese-built ARIADNE (1996), is expected to possibly join the Adriatic service on December 15.

The second ship that may undergo a livery change is ASTERION II (1991), currently operating on the Patras-Venice service and already under Superfast operation.

Photo: Kostas Papadopoulos

Ro-Ro runs aground after tow line break

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The Ro-Ro ship LIDER PRESTIJ, built in 1992 and formerly known as BENIAMINO CARNEVALE, recently grounded in Sicily.

The vessel was sold at auction by Compagnia Italiana di Navigazione and acquired by Turkish interests for EUR 3.25 million. The incident occurred while the ship was being towed to Tuzla.

Departing from Naples under tow by the tug TEDY, the vessel experienced a tow line break in high seas in the Mediterranean on Saturday. Consequently, she began drifting before running aground approximately 10 miles from Milazzo on the northern coast of Sicily on Sunday.

Italy’s coast guard reported overseeing salvage operations, initiated on Monday and successfully executed with the assistance of four tugs deployed from Rimorchiatori Augusta, a company affiliated with MSC-controlled Rimorchiatori Mediterranei.

The 1,820 lane meter vessel has been relocated to the port of Messina for thorough inspections.

Gotlandsbolaget: Q3 and First 9 Months

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  • Despite a slight decrease in the number of travellers, Gotland remains a strong summer destination.
  • Measures taken to strengthen the results, such as efficiency improvements and adjusted ticket prices, have had a positive economic impact, leading to an improved adjusted operating result compared to the loss in 2022.
  • During Q3, Trafikverket distributed the procurement documentation for the contracted Gotland traffic for the period 2027–2035. The primary goal is to renew confidence, but in the event of not winning the contract, there are plans to continue operating traffic between Gotland and the mainland.
  • Additionally, efforts are ongoing for the development of a new cruise line in collaboration with Viking Line, investments in accommodation facilities on Gotland, local biogas production, and technological advancements to reduce emissions from ferry traffic.

Q3, 2023

  • Revenues: SEK 968.5 million (1,140.2)
  • Costs: -690.9 MSEK (-958.4)
    • Revenues and costs are lower than the previous year.
    • Mainly impacted by items related to Stockholms Reparationsvarv and Hansa Destinations.
    • Also influenced by ships sold during the second half of 2022 and the first half of 2023.
  • Adjusted Operating Profit: SEK 277.6 million (181.8)
    • Corresponding to SEK 111.0 (72.7) per share.
    • Improvement due to the negative result for Hansa Destinations in the previous year.
    • Adjusted prices in Gotlandstrafiken and stabilized fuel prices contributed to the improvement.
  • Capital Gains on Sale of Vessels: SEK 19.1 million (0.5) net.
  • Financial Net: SEK 17.3 million (4.8)
    • Higher interest rates and increased investments in the money market.
    • Negative exchange rate effects.
  • Profit After Tax (including capital gains on sales): SEK 247.2 million (162.9)
    • Corresponding to SEK 98.9 (65.1) per share.

First 9 months of 2023

  • Revenues: 1,895.5 MSEK (2,395.3)
  • Costs: -1,711.4 MSEK (-2,363.0)
    • Both revenues and costs for the period are lower than the previous year.
    • Mainly due to the inclusion of items related to Stockholms Reparationsvarv and Hansa Destinations in the previous year.
    • Also influenced by ships sold during the second half of 2022 and the first half of 2023.
  • Adjusted Operating Profit: 222.9 MSEK (32.6)
    • Corresponding to 89.2 SEK (13.0) per share.
    • Improvement attributed to the negative result for Hansa Destinations in the previous year.
    • Adjusted prices in Gotlandstrafiken and stabilized fuel prices contributed to the improvement.
  • Net Capital Gains on Sale of Vessels: 280.3 MSEK (0.4)
  • Financial Net: 137.9 MSEK (10.7)
    • Positive currency exchange effects.
    • Higher interest rates and increased investments in the money market.
  • Profit After Tax (including net capital gains on sales): 503.1 MSEK (11.3)
    • Corresponding to 201.2 SEK (4.5) per share.

Attica Holding Company: Decisions of EGM from 22 November 2023

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Extraordinary General Meeting held on November 22, 2023, with 97.67% shareholder participation. Summary of the document (in Greek):

  • Approval of the merger plan for the absorption of “ANONYMI NAFTILIAKI ETAIREIA KRETIS A.E.” by Attica Anonymous Company of Participations.
  • Approval of various documents related to the merger, including the merger report, financial statements, and the independent expert’s opinion.
  • The company’s share capital increased by EUR 8,207,505 as a result of the merger, issuing 27,358,350 new voting shares.
  • Approval of amendments to the company’s articles of association regarding the purpose of the company, expanding its scope to include ship acquisition, ownership, and operation, real estate acquisition, and management of businesses.

Rederiaktiebolaget Eckerö is a company with a participating interest undertaking in the Viking Line Group

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As of November 22, 2023, Viking Line Abp’s shareholding in Rederiaktiebolaget Eckerö exceeds 20%.

Viking Line Abp’s Board of Directors decided 22 November 2023 that Rederiaktiebolaget Eckerö will be accounted for as a company with a participating interest undertaking using the equity method in the Viking Line Group’s financial accounts.

A positive initial income effect of EUR 2.5 million will arise in the transition to accounting using the equity method. This effect will be recognized in the consolidated income statement during the fourth quarter of 2023.

One Season on the Seas, One Season on the Mountains

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Brittany Ferries and Pôle Emploi Bretagne have launched an innovative initiative to secure seasonal employment called “One Season on the Seas, One Season on the Mountains.” The partnership was formalized through a signed agreement on November 21, 2023, with representatives Jean-Luc Vigouroux, Director of Human Resources at Brittany Ferries, and Frédéric Sévignon, Regional Director of Pôle Emploi Bretagne.

The initiative aims to facilitate and secure seasonal employment in Brittany and Haute-Savoie (ski resorts). This unique program in France offers a tailored path for seasonal workers, allowing them to work a season with Brittany Ferries followed by a winter season in the mountains before returning the following year. This approach addresses the challenges of capturing and retaining seasonal resources in the hospitality sector.

MISS OUTRE-MER delivered to CTM Deher in Guadeloupe

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A new 36-metre custom built passenger ferry has been delivered to Guadeloupe-based operator CTM Deher by shipbuilder Incat Crowther. The new ferry, named MISS OUTRE-MER, was designed using Incat Crowther’s digital shipbuilding process.

The digital shipbuilding process saw CTM Deher and Incat Crowther work closely together to deliver the complete digital ship design before physical construction began at PT Kim Seah Shipyard in Indonesia. In addition to the design aspects, Incat Crowther supported the operator with shipbuilder selection, commercial framework and due diligence, interior design and construction oversight of the project.