Tallink Grupp has filed a legal action against AS Tallinna Sadam (Port of Tallinn) at the Harju County Court with a claim in the total amount of EUR 15.4 million. With the action Tallink Grupp is demanding that the Port of Tallinn reimburses the company a part of the excessively high fees that were paid for the port services in the Old City Harbour (Tallinna Vanasadam).
Fjord Line has now secured a financial platform until May 2022 in a comprehensive refinancing where both owners and lenders have contributed.
This is the second of a total of two refinancing operations, due to the pandemic. The refinancing has a total liquidity effect for Fjord Line of a total of NOK 950 million (in the period May 2020 to April 2022).
Preliminary figures 2020:
-55% Turnover NOK 729 million,
-90% Turnover in some periods with very limited travel activity
-NOK 140 million Result before taxes
Fjord Line has received NOK 198 million in cash support from the Norwegian Authorities for the period March to October.
For November / December, Fjord Line expects NOK 70 million.
Without the cash subsidy, the deficit for Fjord Line would probably have been more than NOK 400 million in 2020.
Fjord1: Smooth Operations And Revenue Growth As Expected
Q4
+20% Revenue NOK 826 million (driven by new contracts)
+67% EBITDA NOK 266 million
Investments NOK 103 million, net of NOK 31 million in vessel NOx compensation received in Q4
Full Year 2020
+14% Revenue NOK 3,118 million,
+27% EBITDA NOK 1,042 million
Total investments for the full year 2020 came to NOK 1,428 million
Revenue growth in line with expectations
New electric vessels are reducing operating costs and increasing EBITDA margins.
Electricity now accounting for approximately 40 per cent of the fuel mix.
Outlook
Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.
Strong contract portfolio has a value of NOK 24.1 billion through 2033.
The company expects more moderate revenue growth 2021, with cost improvements continuing to bolster operating margins.
Click on the picture to see the relevant file:
Friday February 26 saw the delivery of Fjord Line’s new high-speed catamaran, “FJORD FSTR”.
The 110m-long 31m-wide vessel was built by Austal in the Philippines.
Speed: 37 knots
Capacity: 410 vehicles and 1200 passengers
Time for crossing: 2 hours and 15 minutes between Kristiansand and Hirtshals
She still has to make the long journey from the Philippines to Norway.
No surprise: the Corsican Assembly has voted to attribute the 5 subsidised ferry lines to Corsica Linea and La Méridionale. (public service contract).
Route 1: Marseille – Ajaccio: Corsica Linea & La Méridionale
Route 2: Marseille – Bastia: Corsica Linea
Route 3: Marseille – Portovecchio: Corsica Linea
Route 4: Marseille – Propriano: La Méridionale
Route 5: Marseille – Ile-Rousse: Corsica Linea
Period: 1 March 2021 – 31 December 2022
Earlier it was reported that Corsica Ferries’ offer was rejected (because of “non-compliance of the offer”).
According to the Greek Tourism Confederation Institute’s (INSETE) recent report, the Coastal Traffic in Greece in 2020 is as follows:
The Greece – Italy decreased by 70% in passengers, 56% in cars and 9% in freight.
The Greek domestic traffic is reduced by 50% in passenger, 40% in cars and 17% in freight.
On February 2, Sea Lines launched a new roro line between Karasu in Turkey and Constanta in Romania. After only two weeks, they had to close the new line, temporarily.
“Due to an unsustainable heavy administrative burden and unforeseen costs, the Karasu-Constanta Ro-Ro route will be temporarily suspended. Sea Lines is in consultation with authorities, ports and customers, supporting the necessary changes to resume the service.”
Roro vessel VASALAND is now on its way to Tunisia for another charter.
Transporting products across the UK landbridge is going to get rougher before it gets smoother
‘Brexit Buster’ Direct Shipping Link Announced Between Port Of Poole And Morocco
New roro route linking Poole and Tanger is to be launched within the next few months.
New shipping company, United Seaways.
Kerkyra Lines’ ferry EVDOKIA (300gt/1995) performed her first sailing from Corfu to the Diapontia Islands on March 2, 2021.
EVDOKIA was built in Japan (1995) and her carrying capacity is for 300 passengers and 20 cars.
The christening of the roro ECO LIVORNO took place at the port of Livorno, March 2nd.
The brief ceremony was held on the occasion of the ship’s inaugural call in the port of Livorno – her first Italian stop since she left the Jinling shipyard.
At the end of the brief speeches, the ECO LIVORNO was blessed by Mons. Placido Bevinetto, belonging to the diocese of Livorno. The ceremony ended with the cutting of the ribbon and the traditional breaking of the bottle by the godmother Nicoletta Landi, the wife of Livorno’s mayor Luca Salvetti.
The ECO LIVORNO will set sail from the Tuscan port to begin serving regularly the roro connection between Livorno, Savona, Barcelona and Valencia.
