Ferry Shipping Webinar: Ferry Shipping Situation and Development Following the Corona Pandemic
Our webinar of 1 October 2020 can be seen here again (including the Adonis sponsor video)
Positive EBITDA Attica Group Powered by Monitoring and Timely Decisions
- Revenue EUR 117.00 million (EUR 164.01 million)
- EBITDA EUR 1.94 (EUR 15.50 million)
- The decrease in revenue and EBITDA resulted from reduced traffic volumes(*) due to the pandemic and the imposed restrictive measures.
- Losses after taxes amounting to EUR 40.96 million (EUR 11.05 million)
- Financial results (include fuel hedging) loss of EUR 12.51 million (profit of EUR 1.3 million)
(*) Traffic figures:
-56.0% passengers
-46.3% private vehicles
-15.6% freight units
-33.0% sailings (4,446 compared to 6,683 sailings last year).
In the context of these extraordinary and constantly changing circumstances, management monitored daily the traffic volumes data, the pandemic evolution, as well as the measures imposed by the Authorities and assessed the traffic evolution by market, vessel and route.
Based on these assessments, the management made timely decisions achieving, among others, reduced operational and general costs and adjusted vessel itineraries. These measures contained significantly the Group operating costs and achieved the best possible balance between services provided and market demand, considering the necessity to maintain the service and the connectivity of the islands and utilizing to the maximum extent the support measures for the affected companies announced by the Hellenic State.
Route Paldiski (Estonia) – Kapellskär (Sweden)
- DFDS is increasing number of departures from 14 to 22 per week, as from 4 October.
- Extra ship: PATRIA SEAWAYS (photo) (assisting SIRENA SEAWAYS)
Route Paldiski (Estonia) – Hanko (Finland) to close.
Route Karlshamn (Sweden) – Klaipeda (Lithuania)
- DFDS is adding two weekly departures from both ports. Sailing times are reduced by up to an hour.
- The extra sailings will take place on Saturday and Sunday and bring the number of weekly departures up to 11 per week. (1 October)
- Ships: VICTORIA SEAWAYS, OPTIMA SEAWAYS, FINLANDIA SEAWAYS, ARK FUTURA
Route Zeebrugge – Gothenburg
- Newbuilt FLANDRIA SEAWAYS starts to operate from Zeebrugge.
P&O Ferries informed its staff that the Hull – Zeebrugge route is to close permanently. PRIDE OF BRUGES and PRIDE OF YORK are to be disposed of.
The same announcement said that PRIDE OF BURGUNDY and EUROPEAN SEAWAY will not be returning to service.
The four ships have been put on the market.
MSC-controlled ferry company Grandi Navi Veloci revealed to have chartered-in two ropax ships owned by Grimaldi Holding, but in long time charter to the Spanish company Trasmediterranea. The GNV sub-charter is for one year.
The units in question are TENACIA and FORZA, both with a capacity of 2,000 lane meters and 1,000 passengers.
These two ships will be deployed on Genoa – Palermo.
During the last three months the ro-ro ships PAULINE RUSS and ELISABETH RUSS operated the route in a freight-only mode. This charter has just expired.
A study about the effects of Covid 19 pandemic on the coastal shipping industry will be conducted by a consulting firm on behalf of the Hellenic Ministry of Shipping and Island Policy.
According to the Ministry’s decision, the study will be entitled “Study of impact analysis of the COVID-19 pandemic in the coastal shipping industry” and will be carried out by “Deloitte Business Solutions” at a cost of EUR 24,800. This project is also co-financed by the European Social Fund, the European Regional Development Fund as well as the Cohesion Fund under the Operational Program “Technical Assistance 2014-2020”.
The consulting firm has two months to prepare and deliver the study from the date of signing the contract.
ANEK LINES S.A. reported its 1st semester results, which were heavily affected by Covid-19:
- A rapid decline in the demand for goods and services
- Implementation of emergency measures caused restriction in transfers and, consequently, large losses in maritime transport services.
- The strict limitations and bans imposed on passenger transports from and to Italy and the islands, led to a vertical decline in traffic volumes both in Adriatic routes as well as in coastal shipping.
Main figures:
- -3% itineraries
- -53% passengers
- -52% cars
- -9% Freight
Consolidated gross profits
- -82.9% MEUR 1.5 (8.8) Group
- -97.1% MEUR 0.2 (7.0) Parent Company
The key financial figures of the period are as follows:
Turnover
- -23.6% MEUR 55.4 (72.5) Group
- -24.1% MEUR 50.2 (66.1) Parent company
EBITDA
- Losses of MEUR 2.3 (profits of MEUR 3.2) Group
- Losses of MEUR 2.4 (profits of MEUR 2.8) Parent Company
The net financial cost of the Group and the Parent Company amounted to MEUR 4.6 (MEUR 4.7)
Net Results after taxes
- Losses of MEUR 13.2 (losses of MEUR 7.9) Group
- Losses of MEUR 12.4 (losses of MEUR 7.0) Parent Company
On 23 September, Creta Cargo Lines’ third roro vessel IOSIF K (ex- NORWEGIAN CHALLENGER), entered service, replacing her fleetmate TALOS, which will be disengaged for scheduled repairs.
IOSIF K was purchased at the end of 2019 from the Lebanese Bekaa Dream Shipping and then transferred at the Spanopoulos shipyard for rebuilding.
A fleet reshuffling is in progress on the Piraeus-Crete service due to scheduled ferry inspections and repairs.
ANEK Lines
- KRITI II will replace the cruise ferry ELYROS on the Piraeus-Chania line
- Her sister KRITI I (will be introduced on the Piraeus-Heraklion line on October 3
Hellenic Seaways/Blue Star Ferries
- NISSOS RODOS replaced the Blue Star Ferries’ BLUE HORIZON on the Piraeus – Heraklion run on 24 September.
Ferguson Marine (Port Glasgow) Ltd. has placed three contracts worth over £15 million with Scottish companies to continue progress with the completion of two dual fuel vessels to operate on CalMac routes on the west coast of Scotland.
The three contracts are:
- supply of electrical and control equipment by Wartsila’s Scottish subsidiary, Wartsila Ships Electronics Services
- outfit of the passenger areas of the vessels by Greenock-based Blu Marine
- manufacture of pipework by Babcock, Dales Marine and McEvoy Engineering
