Some new ferries among the projects approved under the EUR 161 million Italian fleet renewal

By | 2023 Newsletter week 1 | No Comments

The European Commission has approved, under EU State aid rules, a €500 million Italian scheme to help companies in the maritime transport sector to acquire clean and zero-emission vessels, as well as to retrofit more polluting vessels. The measure contributes to the achievement of the objectives of the Commission’s European Green Deal and ‘Fit for 55′ package.

The scheme is aimed at encouraging shipping companies to replace existing vessels with low environmental performance, and to reduce the use of fossil-based fuels in the maritime transport sector. The scheme will support projects increasing the environmental performance and energy efficiency of vessels operating long, medium and short sea services for passenger, freight and combined transport, as well as of other vessels operating in Italian ports.

In particular, the aid will support the acquisition of clean and zero-emission vessels, including vessels powered by electricity and hydrogen, and the retrofitting of vessels.

The aid will take the form of direct grants. The maximum aid amount per beneficiary is 40% of the eligible costs, which may be increased up to 60% for small and medium-sized enterprises and to 45% for projects concerning zero-emission vessels.

Some of the approved projects are for still-to-be-ordered ships from the ferry companies Toremar, Maregiglio di Navigazione, Snav, Lauro.it and Bluferries.

P&O Ferries say goodbye to BORE SONG

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BORE SONG is no longer operating for P&O Ferries. She was chartered since 2011 and served the cross-Channel routes from Zeebrugge. She left Zeebrugge end of December 2022.

BORE SONG is now in the Baltic Sea, working together with her sister BORE SEA for Transfennica (Bore and Transfennica are companies owned by Dutch Spliethoff).

Just in time and no surprises: Corsica Linea and La Méridionale share the Marseille-Corsica routes until 2029

By | 2022 Newsletter week 51 | No Comments

The Assembly of Corsica voted on Tuesday 20 December 2022 the attribution of the delegation of maritime public service (DSP) to Corsica Linea (the red ships) and La Méridionale (the blue ships).

Aim: guaranteeing territorial continuity between mainland France and Corsica.

Duration: from 1 January 2023 until 31 December 2029.

Annual cost: EUR 106.7 million (against 93 million for the actual DSP)

Routes:

Marseille-Ajaccio: Corsica Linea/La Méridionale, alternating, daily

Marseille-Bastia: Corsica Linea, 7/7

Marseille-Ile Rousse: Corsica Linea 3/7

Marseille-Propriano: Corsica Linea 3/7

Marseille-Porto-Vecchio: La Méridionale 3/7

Political:

Separatist and Autonomist Opposition voted against, denouncing an increase in costs and the postponement of the creation of a public shipping company (…).

The European Commission had to be convinced that a maritime public service is necessary.

EQT puts Molslinjen’s CEO in charge of Nordic Ferry Infrastructure

By | 2022 Newsletter week 51 | No Comments

Molslinjen’s owners in Sweden, EQT Infrastructure, bring Molslinjen’s Carsten Jensen to a position as CEO of the newly established company Nordic Ferry Infrastructure based in Oslo.

The company is a holding company which in future owns both the Danish ferry company Molslinjen and the Norwegian ferry company Torghatten.

Carsten Jensen takes over immediately as CEO of Nordic Ferry Infrastructure. However, during a transition period he will still be responsible for the Molslinjen until a new CEO is in place.

Grimaldi Group strengthens Bari and Brindisi lines

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On 6-7 December 2022, Mr Guido Grimaldi, Grimaldi Group Corporate Short Sea Shipping Commercial Director & President of ALIS, announced the enhancing of both Bari and Brindisi lines with more vessels.

More specifically, at the port of Bari, he announced the introduction of a fourth Ro-Ro ship, from January 2023, on the Patras-Bari-Venice line and vice versa, which will contribute to the daily service.

The next day, in Brindisi, he announced the new operation on Patras-Igoumenitsa-Brindisi. RoPax EUROPA PALACE will join her fleet mate RoPax IGOUMENITSA, offering more daily departures, from 14 to 22 weekly.

Passengers will return to Le Havre in 2023

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Brittany Ferries will re-open its Portsmouth to Le Havre service for passengers

  • When? 1 March 2023
  • What? The route had been run in freight-only mode for the last few years, a consequence of the Covid
  • Ship? COTENTIN (114 pax in well-appointed cabins)

As well as Portsmouth – Le Havre, the ship will carry passengers on Le-Havre to Rosslare. Her schedule includes one round-trip to each destination:

Sunday and Thursday

  • Le Havre – Portsmouth : departure 17h30 – Arrival 22h00
  • Portsmouth – Le Havre : departure 23h30 – Arrival 08h30 Friday
  • Le Havre-Rosslare : departure 19h00 – Arrival 14h30 Saturday
  • Rosslare-Le Havre : departure 17h45 – Arrival 15h00 Sunday

Scottish Government budget: more money for the ferries

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The Scottish Budget sets out the Scottish Government’s proposed spending and tax plans for 2023 to 2024, as presented to the Scottish Parliament. Full details here.

Extra money has been allocated to complete the two overdue ferries at Ferguson Marine, which have already exceeded their budget.

It includes an additional £15 million in the current financial year and £57 million next year for work on the vessels.

Ferry Services: important increase of budget

Changes in AS Tallink Grupp’s loan obligations

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AS Tallink Grupp has amended and restated the EUR 280 million loan agreement from December 2016. The final maturity of the Euribor based floating interest rate loan was extended by 3 years with two further extension possibilities, each by one year. Sustainability-linked clauses were added to the amended and restated loan agreement. Current outstanding balance of the loan is EUR 135,5 million.

The financing is arranged by Nordea Bank ABP, Danske Bank A/S, KfW IPEX Bank GmbH, AS Swedbank, Skandinaviska Enskilda Banken AB and Hamburg Commercial Bank AG. Nordea Banks ABP and Skandinaviska Enskilda Banken AB acted as Coordinators. The Facility- and Security Agent and Sustainability Coordinator is Nordea Banks ABP.

As a result of the amended and restated loan agreement the company’s refinancing risk decreases.

The new loan is guaranteed by the subsidiaries of AS Tallink Grupp: Tallink Sea Line Ltd, Tallink Victory Line Ltd, Tallink Ltd, Tallink Autoexpress Ltd and Tallinn Swedish Line Ltd. The loan is secured by the mortgages on the ships belonging to these subsidiaries.