May 08
Love3

Finnlines Reports Stable Q1 Despite Fuel And ETS Pressure

By 2026 Newsletter week 19

Finnlines reported stable first-quarter results despite higher fuel costs and the full implementation of the EU Emissions Trading System (ETS).

Revenue for January–March 2026 increased to EUR 176.9 million, compared with EUR 166.0 million in the same period last year.

EBIT reached EUR 10.3 million, down slightly from EUR 11.2 million in Q1 2025. Earnings before taxes improved marginally to EUR 8.0 million from EUR 7.9 million, supported by lower financing costs.

Cargo volumes during the quarter included:

  • Approximately 196,000 cargo units
  • 19,000 cars
  • 297,000 tonnes of non-unitised freight

In addition, 162,000 passengers and professional drivers travelled on Finnlines services.

President and CEO Thomas Doepel said the first quarter was marked by “structural volatility” across the shipping sector.

He highlighted the impact of the Middle East conflict and the closure of the Strait of Hormuz, which triggered major fuel price increases and volatility. Finnlines said the delayed adjustment of its Bunker Adjustment Factor (BAF) negatively affected short-term profitability.

The company also pointed to the impact of the EU ETS, which from 1 January 2026 requires shipping companies to cover 100% of emissions.

Despite geopolitical uncertainty, Finnlines said it remains committed to maintaining reliable maritime logistics infrastructure for Europe and supporting security of supply in the Baltic Sea region.

The company added that continued investment in more energy-efficient vessels will help reduce emissions and limit exposure to rising energy costs.

Click here to access the report

May 08
Love3

Attica Group Full Year 2025, Key Figures, Info And Outlook

By 2026 Newsletter week 19
  • Revenue: €756.9m (+1.2%)
  • EBITDA: €85.4m (-11.3%) due to higher operating costs
  • Net result: loss of €33.7m (vs €17.5m profit in 2024)
  • Operating costs increased to €668.6m, driven by environmental regulation and fleet upgrades
  • Environmental compliance costs estimated at €63m (EU ETS, FuelEU Maritime, SECA)
  • Traffic: 6.96m passengers (-4.5%), 1.26m cars (-3.4%), freight units +0.5%
  • Fleet: 37 vessels across Greek domestic routes and Greece–Italy services
  • Investments: €22.6m in energy efficiency and emissions reduction technologies
  • Fleet renewal continues: disposal of 6 older vessels, acquisition of 3 newer units (into 2026)
  • Capital structure remains solid; net debt reduced to €515.6m, leverage at 54%
  • No dividend proposed for FY 2025
  • 2026 outlook: cost pressure from fuel and environmental rules; focus on efficiency and fuel optimisation
May 08
Love3

Gotlandsbolaget Reports Q1 Stable Development

By 2026 Newsletter week 19

Gotlandsbolaget reported Q1 2026 revenue of SEK 621.6 million, up slightly from SEK 608.6 million last year.

Adjusted operating profit was negative at SEK -192.7 million, reflecting the seasonal low period and higher depreciation linked to NORDIC PEARL and NORDIC CROWN.

Net financial items improved due to positive currency effects, while profit after tax reached SEK -144.0 million.

Go Nordic Cruiseline increased sales and passenger volumes, while Birka Gotland improved results following efficiency measures introduced in 2025.

The company also announced the acquisition of a 30% stake in Nordic Ferry Infrastructure (NFI) for around EUR 510 million, together with Interogo Infrastructure and Lægernes Pension.

Looking ahead to the summer season, Destination Gotland will introduce a hanging deck on VISBY, increasing car deck capacity by 20%.

Source: https://corporate.gotlandsbolaget.se/sv/kvartalsrapport-januari-mars-2026/

May 08
Love3

AS Tallink Grupp Statistics for April 2026

By 2026 Newsletter week 19

In April 2026, AS Tallink Grupp transported 416,859 passengers, broadly in line with April 2025.

The number of cargo units increased by 5.3% to 23,045 units, while the number of passenger vehicles decreased by 6.0% to 56,188 units compared to the same period a year ago.

AS Tallink Grupp passenger, cargo unit and passenger vehicle volumes for April 2026 were as follows:

Click on table to see the source:

May 08
Love3

DFDS Acquires RoPax Ferry STENA VINGA

By 2026 Newsletter week 19

DFDS has acquired the RoPax ferry STENA VINGA from Stena Line.

The vessel is currently chartered by DFDS and has operated on the Jersey service since its launch in March 2025.

STENA VINGA serves routes between Jersey, the UK and France, carrying both passengers and freight.

DFDS says the acquisition strengthens fleet resilience and supports its long-term commitment to Jersey.

The 125m ferry was built in 2005. It can carry up to 400 passengers, 200 cars and offers 1,500 lane metres of freight capacity.

Onboard facilities include 40 cabins, a restaurant, duty-free shop, cinema and recliner lounge.

The vessel will be reflagged under the UK flag.

DFDS plans to recruit across all ranks, creating around 70 new positions, including cadets and apprentices.

STENA VINGA will be renamed to align with DFDS’ existing fleet. Further details will follow.

The acquisition is expected to be completed in November 2026.

May 08
Love3

CLAYMORE Launched At Cemre Shipyard

By 2026 Newsletter week 19

On Saturday, 2 May 2026, CLAYMORE was launched at the Cemre Marin Endustri shipyard in Yalova, Türkiye.

The vessel was launched by Mary Morrison, former Port Manager at Lochmaddy.

CLAYMORE is the fourth and final vessel in the series, following ISLE OF ISLAY, LOCH INDAAL and LOCHMOR.

May 08
Love3

Hibernia Line Opens Bookings For New Cork–Boulogne Ferry Route

By 2026 Newsletter week 19

It is now official: Hibernia Line has opened bookings for its new year-round ferry service between Ringaskiddy, Cork, and Boulogne-sur-Mer.

The route will start in mid-June 2026, with six sailings per week in each direction.

Two vessels, ST PATRICK (SUPERFAST IX) and AKKA, will operate the service.

Key points:

  • Evening departures from both ports.
  • Cork departures at 21:00.
  • Boulogne-sur-Mer departures at 22:00 CET.
  • Passenger arrival the following evening.
  • Expected annual passenger volume: more than 250,000.
  • Up to 250 immediate jobs in Ireland and France.
  • Around 200 crew positions.
  • ST PATRICK offers 2,200 lane metres of freight capacity.
  • AKKA can carry 2,500 lane metres of freight and passenger vehicles.
  • Hibernia Line is headquartered in Cork and is supported by Goodman Group.

The company says the new route will offer a consistent option for both freight and passengers travelling between Ireland and mainland Europe.

Carus has been selected to provide a comprehensive IT suite for Hibernia Line. Carus will deploy its full portfolio including web booking, mobile applications, onboard point-of-sale, and integrated payment solutions.

May 08
Love3

Port of Piraeus Reports Record 2025 Revenue And EBITDA

By 2026 Newsletter week 19

PPA S.A. (Port of Piraeus) presented its 2025 financial results to the Hellenic Fund and Asset Management Association at Euronext Athens.

Key figures:

  • Revenue reached €250.8 million, up 8.6%.
  • EBITDA reached €132.3 million, up 2.2%.
  • Profit after tax was €86.2 million, down 1.5%.
  • Proposed dividend: €1.896 per share, equal to 55% of net profit.

The cruise sector reached a new record with 1.86 million passengers.

Pier I also achieved a record, handling 664,581 TEU.

Ferry shipping revenue fell by 28.4%. This followed a reduction in port fees from May 2025, requested by the Ministry of Maritime Affairs and Insular Policy to help maintain ferry ticket prices.

PPA said the results confirm the port’s resilience and its continued contribution to shareholders and the Greek economy.

Source: PPA S.A.

Apr 30
Love3

Stena AB Shows Resilience as Ferry and RoRo Businesses Drive Momentum

By 2026 Newsletter week 18

Stena AB reported 2025 revenues of SEK 51.9 billion, with EBITDA (excluding asset sales) of SEK 11.1 billion and profit before tax of SEK 2.15 billion. Available liquidity stood at SEK 20 billion, underlining the Group’s financial strength.

The diversified structure again proved valuable. Management highlighted stable ferry operations, a record year for Stena RoRo, continued resilience in property, and an improved tanker market in the second half.

Stena Line generated total income of SEK 19.4 billion. The company continued to invest despite softer markets, adding capacity with the hybrid newbuildings STENA CONNECTA and STENA FUTURA on the Irish Sea. Port agreements were extended, securing long-term positions in key hubs.

Stena RoRo delivered one of the strongest performances in the Group, with total income rising to SEK 2.36 billion. High charter utilisation and vessel disposals supported results. The company also signed an LOI for two new C-Flexer vessels, with options for four more.

Outlook for the ferry and RoRo segment appears positive. Demand for freight capacity, intermodal trailer flows, fleet renewal, and efficient medium-sized tonnage continues to grow. With modern assets and strong market positions, Stena is well placed for 2026.

Source: click on cover to access the annual report

Apr 30
Love3

Havila Voyages Reports Strong Ferry Growth in Cargo and Local Traffic

By 2026 Newsletter week 18

Havila Voyages has reported strong growth on Norway’s Bergen–Kirkenes coastal route, underlining the continued importance of the service as a ferry link for coastal communities.

From 2024 to 2025, the number of local passengers using the route as everyday transport increased by 14%, while cargo volumes rose by 11%. Havila operates four vessels on the state-contracted route alongside fellow operator Hurtigruten.

CEO Bent Martini said the figures reflect more stable operations now that all four ships are fully deployed. Earlier start-up delays and the post-pandemic downturn had affected volumes at the beginning of the contract period.

The company has also submitted proposals to Norway’s Ministry of Transport to improve the service further. These include longer port calls, especially north of Bodø, to improve freight handling and better serve local passengers.

A significantly longer stay in Kirkenes is also proposed, allowing stronger coordination with air services.

Havila says route optimisation, combined with lower speeds on selected legs and separate summer/winter timetables, would improve connectivity while reducing fuel consumption and emissions.

Photo ML