Bookaway Increases Transportation Options with Direct Ferries Integration

By | 2021 Newsletter week 36 | No Comments

Ground and sea transportation platform Bookaway has integrated with specialist OTA Direct Ferries.

“As part of the final stages of implementation, we plan to offer car ferry bookings on our platform for the first time – which will appeal to a new wave of group, family and environmentally conscious travellers,” said David Yitzhaki, Bookaway’s chief marketing officer and co-founder.

‘Papenburger Sister’ APOLLO Arrived in Aliaga

By | 2021 Newsletter week 36 | No Comments

On September 5, APOLLO finally arrived in Aliaga for recycling.

She was one of the famous nine “Papenburger Sisters”, built by Meyer Werft in 1970.

Six were built for Viking Line, and three for the Mexican Government.

Apollo was sold in 1999 to Labrador Marine Inc. of St. John’s (NFL) and entered service in May 2000 on the St. Barbe (Newfoundland) to Blanc Sablon (Labrador) route for the Woodward Group of Canada.

Fjord1 Continued Stable Operations in Q2/H1

By | 2021 Newsletter week 35 | No Comments
  • Fjord1 has operated in a safe and responsible manner throughout the Covid-19 pandemic, protecting the safety and security of its employees, customers and suppliers while fulfilling its responsibilities as a provider of critical transport infrastructure in coastal Norway.
  • Revenue in Q2 amounted to NOK 708 million, a decrease of 6%. The reduction is mainly attributable to the phasing out of the Molde-Vestnes ferry contract. (operated by Boreal as from 1 September 2021)
  • EBITDA in Q2 was NOK 190 million, down from NOK 245 million. The EBITDA margin declined to 27% from 33%, reflecting lower revenue and higher maintenance cost in Ferry, and continued weak results in the Tourism segment due to Covid-19 travel restrictions.
  • For the first half year, revenue declined 7% to NOK 1,399 million, with the EBITDA declining 12% to NOK 387 million.
  • Investments amounted to NOK 81 million in Q2 and NOK 154 million in H1.
  • Investments are significantly reduced from 2020, as the company is passed the peak of its vessel newbuilding and electrification program.
  • Fjord1’s long-term contract portfolio, worth NOK 22.7 billion, together with long-term ambitions for the Tourism segment provide a solid base for further development of the company.

Ferry Segment

  • Ferry passengers -9% in Q2 and -0.6% in H1
  • Vehicles -6,2% in Q2 and +1.3% in H1

This mainly reflects the phasing-out of the Molde-Vestnes contract.

  • Ferry revenue declined by 7% both in Q2 and H1
  • The majority of Fjord1’s contracts are based on capacity and sailing frequency rather than traffic volumes, which largely insulates revenue and earnings in the Ferry segment from changes in traffic volumes on routes under contract.

Fjord1 Fully Privatised

By | 2021 Newsletter week 35 | No Comments

The privatization of Fjord1 has been completed. Fjord1 was delisted from the Oslo Stock Exchange.

The Norwegian ferry operator is now owned 50/50 by Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, and Havila Holding, an investment company owned by the Sævik family in Norway.

Vision Ridge has offices in Colorado and New York.

Finnlines’ New RoRo Vessels Celebrate Launching and Keel Laying

By | 2021 Newsletter week 35 | No Comments
  • Finnlines’ Newbuilding Programme proceeds as planned.
  • 30 August 2021: launch of second hybrid ro-ro vessel
  • 31 August 2021: keel laying ceremony for the third vessel
  • The series of three ro-ro vessels are being built at the Chinese Jinling shipyard located in Nanjing.
  • Better service for truck drivers: gym and sauna, a dining and recreation room and a laundry for drivers to use. Single cabins.
  • 40% more cargo capacity (5,800 lane metres)
  • The vessels will be fitted with state-of-the-art engines with emission abatement technology, an air lubrication system, lithium-ion batteries and solar panels.
  • Ice class 1A Super

FINNECO I: sea trials in September, in service end of 2021.

FINNECO II and III in 2022. All three vessels will sail under the Finnish flag.

Green Biodiesel for the Fanø Ferry Line

By | 2021 Newsletter week 35 | No Comments

The Fanø Line ferries FENJA and MENJA will be powered by fossil-free biodiesel, reducing the total CO2 emissions up to 90%.

The plan is to let the ferries sail partly on HVO(*) biofuel from August 2021. If the start-up goes satisfactorily, the share of the new biodiesel will be increased rapidly towards the autumn, when the new electric ferry GROTTE will be put into operation by October 2021.

The Fanø line will thus be the first ferry route in Denmark, which will be completely shifted to HVO.

The environmentally friendly biodiesel comes from the Finnish manufacturer, Neste.

(*) HVO = Hydrotreated Vegetable Oil

Stena Line Renews Contract for SaaS Terminal Operating System Surikat

By | 2021 Newsletter week 35 | No Comments

Stena Line has renewed a 5-year contract with Surikat, suppliers of a Terminal Operating System for roro, lolo, rail, intermodal and passenger vehicles. The strategic partnership enables Stena Line to enhance their terminal operations and improve the customer experience across Europe.

Surikat and Stena Line signed their first contract in 2016, with the initial task to simplify and digitalize the damage checks and claims handling processes across their European network. From small beginnings, the product range grew until Surikat was supplying Stena Line with a fully comprehensive portfolio of tools to aid the running of operations across their 20+ terminals in Europe.

Carsten Nørland Succeeds Søren Poulsgaard Jensen as Scandlines’ CEO

By | 2021 Newsletter week 35 | No Comments

“Søren has done an excellent job and positioned Scandlines well for the future as a green and competitive provider of critical infrastructure connecting Continental Europe and Scandinavia. Carsten Nørland brings the right commercial and international skills and experience to carry on the good results in the coming years towards the opening of the Fehmarn tunnel and beyond,” says Chairman of Scandlines’ Supervisory Board, Vagn Sørensen.

Carsten Nørland is 52 years old and holds a MSc. in Economics and Business Administration from Copenhagen Business School. Before his seven years at Royal Unibrew, he held leading positions with international responsibilities in Copenhagen Airports, Flügger and Masterfoods/MARS inc.

City of Turku Redeems the Terminal in Turku

By | 2021 Newsletter week 35 | No Comments

August 31, 2021. The City of Turku has redeemed the terminal in Turku owned by Viking Line. The terminal and related facilities are located in an area in the Port of Turku leased by Viking Line.

Under the original lease agreement, the buildings were to be redeemed on December 31, 2025, but since the Port of Turku decided to begin a major refurbishment of the port and its facilities, the City of Turku now redeems the properties.

The redemption entails an accounting profit of EUR 13.5 million for Viking Line Abp and strengthens the company’s liquidity with EUR 7.9 million.