Elbferry GmbH, the company that started in March with an LNG ferry between Brunsbüttel and Cuxhaven is bankrupt.
Reasons: LNG bunker prices / Less freight than expected / No corona state-aid
The ferry GREENFERRY I continues to operate for the time being. The company has made it clear on their social media channels.
Following a request for Expressions of Interest from the Government of Alderney to operate an inter-island ferry service, the Bachmann Group has announced that it has advised the Alderney Government that it is interested in supply such a service.
The general meeting decided in accordance with the Board of Directors’ proposal to authorize the Board to decide on a share issue of at most 6,480,000 new shares with pre-emption rights for shareholders (share issue with pre-emption rights) at a subscription price of EUR 8.00 per share. The Company’s shareholders shall be entitled to subscribe to three new shares for every five shares held at the subscription price.
A revolutionary new life saving initiative, designed for cruise ships and large ferries, is currently under development in Norway.
Click on the photo to access the brochure.
Click on the picture to access the annual report of European Sea Ports Organisation
During COP26 global summit, the IFRS Foundation Trustees announced three significant developments to provide the global financial markets with high-quality disclosures on climate and other sustainability issues.
The additional metric on climate will have to be adopted as part of a company’s IFRS. That means reporting on emissions targets and ways to reduce it. The market will look at it positively if a company reaches its targets. If not, the value of a company might decrease in the stock market.
(*) The IFRS Foundation is a not-for-profit international organisation responsible for developing a single set of high-quality global accounting and sustainability disclosure standards, known as IFRS Standards.
On 16 November 2021, Stena RoRo’s SAGA (1981) left Greece.
Rumour has it that she has been chartered for 18 months as a floating hotel in the Philippines.
The large ferry arrived at the Perama repair zone on September 10 to undergo her conversion.
The project was undertaken and completed on time (50 days) by the well-known turn key contractor VDN-IPPOKAMPOS.
SAGA is currently on her way to Singapore. [MarineTraffic]
Outlook 2021
Total freight volumes in October 2021 were 7.6% below 2020. Net adjustments for structural route changes reduced growth 2.3 ppt to -9.9%.
The decrease in total volumes was due to lower volumes on UK routes compared to 2020 as stockbuilding in the UK ahead of Brexit started to boost volumes in October 2020.
In addition, the current supply chain bottlenecks have led to a slowdown in UK volumes as some importers and exporters temporarily capped volumes during the month to avoid further congestion of supply chains. Channel and North Sea volumes were thus below 2020 in October.
The Mediterranean business unit continued to carry volumes above 2020 while Baltic Sea volumes were below 2020 as capacity on one route was reduced from two ferries in 2020 to one ferry in October 2021.
Volumes for the Mediterranean and Baltic Sea business units were above 2019 in October 2021 while the supply chain bottlenecks impacting the UK decreased volumes in Channel and North Sea to below 2019.
The Corsica executive council has decided not to include the fine of EUR 86.3 million in the 2021 supplementary budget of the Collectivité de Corse (CDC).
At the end of September, the CDC had been definitively ordered by the Council of State to pay EUR 86.3 million to Corsica Ferries, in compensation for the damage linked to the illegal subsidies of its former competitor SNCM, between 2007 and 2013.
CDC refuses to pay and wants the French State to take its responsibilities. To be continued…
