Trasmediterránea Rescued with an Injection of 340 million

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Naviera Armas, owner of Trasmediterránea, has closed an agreement with its main financial creditors (Barings, Bain Capital, Cheyne Capital and JPMorgan) to convert a total of 240 million euros in debt into capital and, in addition, receive a liquidity injection of up to 100 million euros through a bridge loan, according to Expansión.

To save the current economic situation, the Armas family intends to contribute 40 million with the sale of the (fast ferry) ship VILLA DE TENOR. In this way, Armas will be able to maintain control of the group’s rights.

SHORT NEWS

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On January 8, 2021, Minoan Lines’ KNOSSOS PALACE (2002 ex CRUISE BONARIA, OLYMPIA PALACE) was introduced on the Piraeus-Heraklion-Chania Line, replacing her fleetmate CRUISE BONARIA (2000 ex-KNOSSOS PALACE), which joined the Italian Grimaldi Group fleet.

Photo: Angeliki Sarikavazi

Blue Star Ferries’ BLUE STAR DELOS scrubber conversion is in progress at Perama repair zone. The “blue” ship stopped service at the beginning of November 2020 in order to perform Attica’s scheduled scrubber program. In January 4, 2021 she entered dry dock for her annual maintenance –until January 20- and she is expected to return in service on February 2021. Next will follow – for the same conversion- the sisters BLUE STAR MYCONOS and BLUE STAR CHIOS.

Photo: Archipelagos.com

The hull of Fanølinjen’s first electric ferry (GROTTE) was towed by tug DOLPHIN from the yard in Szczecin, Poland to Hvide Sande, Denmark, where the vessel will get her engines, interiors and other equipment.

Naviera Armas has launched the year 2021 with a reorganization of the line that connects the south of Tenerife and La Palma and offers a daily departure from the port of Los Cristianos, so that it goes from five to seven weekly frequencies. The service is provided by the VOLCÁN DE TABURIENTE.

Irish Ferries already decided to put W.B. YEATS on Dublin-Cherbourg. Now EPSILON will also provide an additional Cherbourg sailing this weekend.

Irish Continental Group plc announced that it has applied to the London Stock Exchange to change the currency in which the Company’s Share Units are traded on the London Stock Exchange from Euro to Sterling. It is expected this change will become effective at 8.00 A.M. on 13 January 2021.

The currency in which ICG’s Share Units are traded on Euronext Dublin will remain Euro.  The Company’s financial statements will continue to be presented in Euro.

FERRY NEWS

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From Landbridge to Seabridge

After months of negotiations, the UK and European Union finally agreed a deal that will define their future relationship.

In the meanwhile, ferry companies have strengthened or even created direct ferry links with the Republic of Ireland, the EU country on the ‘other side of the UK’.

These ferry routes avoid the ‘landbridge’ (*) over a non-EU country.

On 22 December 2020, Stena Line added roro ferry STENA FORETELLER on the Cherbourg-Rosslare route. She joined ropax STENA HORIZON, doubling the freight capacity as well as the frequency of sailings (12 weekly sailings)

On 2 January 2021, DFDS started a new 3-ship direct route from Dunkerque to Rosslare, with chartered VISBY and KERRY, and OPTIMA SEAWAYS.

CLdN increased its frequency / capacity from the continent to Dublin and Cork.

On 6 January 2021, W.B. YEATS, Irish Ferries’ largest ropax, start to sail on the Dublin-Cherbourg route.

W.B. YEATS has a much higher freight capacity than route vessel EPSILON, and enough cabins for truck drivers.

EPSILON will replace W.B. YEATS on Dublin-Holyhead.

Eucon (Irish Continental Group) introduced an extra 800 TEU container feeder vessel (MUSIC) on Dublin-Rotterdam.

Smooth Operators

“The majority of freight has successfully accessed our ports on the first day post-Brexit. The day has not been without issues for some hauliers, which was expected. The occasional vehicle has being turned away due to not having the correct customs references, but most have returned later with everything in order and been shipped.”

Ian Davies, Head of UK Port Authorities, Stena Line

“At the ports of Rotterdam and IJmuiden, the first day on which customs formalities again applied to freight transport between the United Kingdom (UK) and the European Union passed quietly. There has been no congestion around ferry terminals. It has also stayed very quiet at the special Brexit buffer parking zones for HGV drivers whose documents are not yet in order.”

Port of Rotterdam

“No problems in Zeebrugge. The start of the year is calm anyway and we have had a very busy month of November and December. Stocks have been built up in the UK, and they are decreasing systematically. Over the next few weeks, I expect traffic will grow to a normal level, end of January, mid-February.”

Port of Zeebrugge CEO Tom Hautekiet

Tallink Grupp’s Latest Statistics Reveal Impact of Pandemic

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Tallink’s Q4 and December statistics reveal the total impact of COVID-19 on the company’s annual passenger, vehicle and cargo figures.

  • -61.8% passengers in 2020
  • -82.5% Latvia-Sweden
  • -81.9% Estonia-Sweden
  • -66.1% Finland-Sweden
  • -52.3% Estonia-Finland
  • -36.7% passenger vehicles in 2020

Despite the many challenges during the year, the company transported a total of 359,811 units of cargo during 2020, which is only 5.2% less than during the full year 2019.

Paavo Nõgene, CEO of Tallink Grupp, said commenting on the results, “…. the company has weathered this storm as well as possible… and we are ready to carry on our battle through the storms and are determined to begin the road to recovery in 2021”

The Magic is Gone

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Norway has introduced new infection control measures for at least two weeks.

Color Line has therefore decided to withdraw cruise ferry COLOR MAGIC between Oslo and Kiel until further notice.

COLOR FANTASY has previously been taken out of service on this route.

Freight continues to be handled by roro COLOR CARRIER between Oslo and Kiel, and ropaxes SUPERSPEED 1 and 2 between Kristiansand, Larvik and Hirtshals.

Lacking an important part of its income, Color Line finds itself forced to announce redundancies of another nearly 500 employees in addition to the around 1,000 who have already been laid off, said CEO Trond Kleivdal.

Photo: Jørgen Syversen

Seven years Later, She’s Back

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COTENTIN is back on Poole-Cherbourg, after a 7-year charter to Stena Line as STENA BALTICA.

In April, BARFLEUR will take over on the Poole to Cherbourg route.

COTENTIN will then switch to cover the Portsmouth-Le Havre route, replacing Brittany Ferries’ ETRETAT, which will return to Stena RoRo as her charter ends.