Apr 29
Love4

One team, one brand, one CLdN

By 2022 Newsletter week 17

Since 25 April, all CLdN companies (CLdN RoRo/CLdN Cargo/C.Ro Ports) will use the common brand name “CLdN”.

A common brand name is a logical next step for CLdN. By having further integrated the roro, ports and door-to-door activities over the past couple of years, closer cooperation and communication between different business departments was stimulated which boosts CLdN’s business development and continuous strive towards operational excellence.

Being able to offer fully integrated door-to-door and quay-to-quay transport using their own trailers, containers, port infrastructure and vessels is a unique strength, which ensures that robust and reliable transport solutions can be guaranteed to CLdN’s customers.

Apr 29
Love4

Passenger traffic boost for the Easter holidays 2022

By 2022 Newsletter week 17

According to the Hellenic Ministry of Shipping and Island Policy the passenger traffic from the ports of Attica for the Easter holidays was significantly increased compared to Easter 2021.

Specifically:

  • From the port of Piraeus to the Cyclades, the Dodecanese, Crete and the Saronic Gulf, the passenger traffic increased by 150%. In 2022, departed 166,609 passengers and 26,695 vehicles, while in 2021 the traffic was 66,563 passengers and 8,624 vehicles.
  • Passenger traffic from the port of Rafina increased by 579% during the same period. In 2022, departed for Cyclades 38,726 passengers and 10,088 vehicles, while in 2021 the traffic was 5,701 passengers and 1,878 vehicles.
  • The traffic at the port of Lavrio increased by 340% as well. This year departed 12,259 passengers and 3,447 vehicles while in 2021 the traffic was 2,786 passengers and 777 vehicles.

However, Ferry executives support that passenger traffic during Easter 2022 -compared to Easter 2019- was reduced by 20% to 25% on many ferry routes.

Apr 29
Love4

Saronic Ferries’ modernized ANTIGONI entered service on 22 April 2022

By 2022 Newsletter week 17

On 22 April 2022, the fully modernized ferry ANTIGONI of Saronic Ferries was introduced on the Piraeus – Souvala (Aegina) line. The vessel underwent an extensive conversion into a passenger ferry from 2019. Her conversion was delayed due to the pandemic. She was initially built as a landing ferry in 2010 and served the Rio – Antirio and Arkitsa – Edipsos lines as the POSIDONAS. On 30 July 2019, she was sold to Saronic Ferries for service in the Saronic Gulf and transformed into a modern passenger ferry.

Apr 29
Love4

Norled wins high-speed ferry contract in Nordland

By 2022 Newsletter week 17

Norled won the high-speed ferry contract for the routes between Bodø and Væran, as well as Bodø and Gildeskål, Norway.

Nordland Fylkeskommune awarded Norled a 10-year contract for operation of the high-speed routes starting in January 2024. There is also an option to operate the route between Bodø and Myken during the summer months.

Norled will operate two main vessels and a reserve vessel. The vessels will operate on electricity for 70% of the time.

The vessels, to be built by Brødrene Aa, will accommodate 130 passengers, as well as luggage, bicycles, and kayaks.

Apr 29
Love4

The Court of Milan accepts the debt restructuring plan submitted by Moby and CIN

By 2022 Newsletter week 17

The bankruptcy court of Milan has just admitted the new debt-restructuring plans presented by Moby and Compagnia Italiana di navigazione after a few weeks ago the judicial commissioners of Tirrenia had “expressed an overall positive opinion on the resilience of the plan”. The latter is based on a preliminary agreement with the State-owned bad company Tirrenia in Amministrazione Straordinaria (creditor for EUR 180 million) and on the EUR 80 million capital increase announced by MSC Group which will take in change a 25% stake in Moby Group.

The Court of Milan officially scheduled for next June 20th and 27th the creditors’ meeting for Moby and Tirrenia CIN respectively.

Apr 21
Love4

SEEN Conference about the Transition in the “Green” Coastal Shipping

By 2022 Newletter week 16

The Chairman of SEEN, Mr Spyridon Paschalis presented his views on the topic: “Problems and solutions for the transition in Green Coastal Shipping”, based on the latest IOBE (Foundation for Economic & Industrial Research) report, published on April 13. (Presentation, in Greek on the SEEN website)

According to Mr. Paschalis, the implementation of the “Fit for 55” package is expected to have a serious impact on ferry passenger shipping. More specifically, he predicted that:

  • Operating costs will increase by EUR 207 million in 2026
  • Ticket prices will be burdened by 30% in 2026
  • Passenger traffic will be reduced by 28% (5.4 million passengers) in 2026
  • Ferry companies’ revenues will be reduced by EUR 183 million in 2026
  • Greece’s GDP will be reduced by EUR 903 million (0.3%) in 2026
  • Almost, 29,600 jobs will be lost throughout Greece (island regions and Continental country)

He also referred to the uncertainties that come from the pressure for the direct carbonization of ferry passenger shipping such as not enough time to comply with the new regulations, the obstacles to the adoption of alternative fuels in Greece, the fact that there is no alternative fuel that works as a complete solution as well as the alternative technologies that will improve energy efficiency that are still under evaluation.
Furthermore, he proposed solutions concerning the existing fleet as well as newbuilding ferries. According to Mr Paschalis:

  1. the most affordable solution for the existing fleet is slow steaming with a negative impact on sailings and therefore on local communities
  2. Investments in equipment that will improve the Energy Efficiency of the existing fleet such as (costa bulbs, post swirl rudder fins, solar panels, LED lighting etc.) but have a significant cost
  3. Switch to alternative fuels like LNG, Methanol, hydrogen, and electricity (produced from renewable energy sources) as well as the use of biofuels
  4. Fleet renewal with newbuilding low and zero-emission vessels (ZEV)

Mr Paschalis concluded by underlying that the Hellenic Coastal Shipping will proceed with “Green” Investment projects only if there is serious support and strategy from the Greek State.

Apr 21
Love4

NIB finances EQT-backed Molslinjen and Torghattens’ sustainability transformation in Denmark and Norway

By 2022 Newletter week 16

NIB has signed a 7-year loan agreement with a EQT owned company to finance capital expenditures relating to electric ferries operated by Molslinjen A/S in Denmark and Torghatten AS in Norway.

The EUR 84.71 million loan, which is fully eligible to be funded by NIB Environmental Bond proceeds, will be key in realising EQT Infrastructure’s ferry capital expenditure programme during 2021-2026.

EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic floating bridge and island-to-mainland transportation infrastructure champion. The combined entity will become the leading maritime transportation company located in one of the most attractive and creditworthy regions, with a strong and resilient financial profile underpinned by robust cash flow visibility and a highly diversified route and contract portfolio.

Apr 21
Love4

Rederi AB Gotland’s profit affected by weak tanker market

By 2022 Newletter week 16
  • Revenues increased to SEK 2,337 million from SEK 2,011 million
  • Operating profit decreased to SEK 124 million from SEK 142 million
  • Profit after financial items decreased to SEK 150 million from SEK 159 million
  • The Board of Directors proposes a dividend of SEK 8.20 per share (SEK 8.00)

This year’s revenues have increased in line with the demand for travel. The number of passengers in Gotland traffic has increased by 487,601 passengers, which is plus 40 percent compared with the previous year.

The decline in earnings is largely due to a very weak product tanker market with a significant loss during the year for Gotland Tankers AB, which also accelerated during the last four-month period.

Demand for travel to Gotland has increased after the government and the authorities eased the restrictions that were in force during the corona pandemic.