CSIC Does Not Intend To Acquire The Uljanik Group Shipyard

By 2019 Newsletter week 27

It was revealed that China Shipbuilding Industry Corporation (CSIC) will not acquire the ill-fated Uljanik Group.

The yard is in bankruptcy. There was some hope for a rescue by CSIC but that plan is not going to materialise.

Instead, CSIC intends to cooperate with the Zagreb-based Brodarski Institute, to carry out joint projects. Brodarski Institute is an institute of applied technical sciences in the fields of maritime and green technologies.

Recently CLdN cancelled two newbuilding contracts.

FERRY FINANCE & FIGURES

By 2019 Newsletter week 27

Positive Passenger Trend Onboard Tallink Ferries

Tallink Grupp sets passenger record for the second month in a row and transports record number of passengers in June on the Estonia-Finland routes.

Trends for June 2019

  • +3% passengers
  • -1.6% cars
  • -2.3% c argo units

Trends for Q2

  • +0.8% passengers
  • -3.8% cars
  • -1.5% cargo units

There has been a drop in freight between Estonia and Sweden. On the positive side, the route between Latvia and Sweden improved considerably, at least for cargo, because passengers were less numerous. The four-day absence of a vessel probably explains a lot.

Fjord Line’s Board Of Directors Finds The Profit Development Satisfactory And Expects Further Improvement In 2019

By 2019 Newsletter week 27

Compared with 2017 total revenues grew with a healthy 13% to MNOK 1,529.3 which again is a record for the Group. All business areas in the company contributed to this growth where both volumes and average rates increased across the board.

Passenger operations on Sandefjord-Strömstad developed especially strong following a refurbishment of the retail unit onboard OSLOFJORD.

After a troublesome season in 2017, Fjord Line recorded a sailing season without incidents on the route Kristiansand-Hirtshals.

Following the extensive docking program for sister vessels STAVANGERFJORD and BERGENSFJORD, the capacity increase realised through the addition of 64 new cabins and 114 further seats, lead to record volumes during July on Bergen-Hirtshals route.

Key figures

  • +8.4% Passengers
  • +7.8% Cars
  • +1.5% Freight
  • +12.5% Operating income = MNOK 1,529.3
  • +9.1% EBITDA = MNOK 335.5
  • +1 % Operating result (EBIT) = a profit of MNOK 123.9

New CFO For DFDS

By 2019 Newsletter week 27

Karina Deacon has been appointed new CFO for the DFDS Group starting on 1 January 2020. She replaces Torben Carlsen as CFO following his appointment to President & CEO from 1 May 2019. She will join Torben Carlsen in the Group’s Executive Board and be part of the Executive Team.

Karina Deacon (50) has extensive strategic and financial management experience from positions with several large, international companies. She holds a Master of Business Administration & Auditing and has gained experience with various management, finance and accounting roles at PWC and ISS and positions as Group CFO from Landic Property, Saxo Bank and most recently Nilfisk.

FERRY PORTS

By 2019 Newsletter week 27

Monopolistic Use Of Port Of Agaete By Fred Olsen Has Been Condemned

The Court of Justice of the European Union issued a resolution dismissing the appeal filed by Fred Olsen.

What is it about? In March 2018, the General Court of the European Union considered that Fred Olsen’s exclusive commercial exploitation of Port of Agaete (Gran Canaria) was a state aid, granted by the Government of the Canary.

Fred Olsen and the Government of the Canary Islands argued that the exclusive use does not constitute State aid, since Fred Olsen had to pay port fees.

However, both the General Court and the Court of Justice have rejected this. They pointed out in their judicial decisions that the payment of port taxes does not cover the exclusive use of a public port.  The Government of the Canary Islands should have demanded a higher price for an exclusive use.

In the past, both Naviera Armas and Trasmediterranea have tried –in vain—to get access

This ruling should mean the end of the exclusive use of the Port of Agaete by Fred Olsen.

TECHNOLOGY

By 2019 Newsletter week 27

Corvus Energy has completed the installation of a 5,5 MWh battery energy storage systems (ESS) for each of the two Ro-Pax cruise ferries CRUISE BARCELONA and CRUISE ROMA from Grimaldi Group.

The ‘mega batteries’ will allow the Grimaldi cruise ferries to turn off the engines and operate solely on battery power and with zero emissions for up to four hours during port stay.

IN THE MEDIA

By 2019 Newsletter week 27

Saaremaa Announces Tender For Montu-Ventspils Service

The rural municipality government of Saaremaa, Estonia’s largest island, has announced a procurement for finding an operator for the ferry service between the port of Montu on Saaremaa Island and Ventspils in Western Latvia for the coming five years.

The route is to be serviced during the period of contract each year at least from June 1 to August 31 at least three times per week. The detailed period, schedule and volumes will be established in the course of negotiations.

The qualifying ship must accommodate at least 25 passenger cars or other vehicles up to 4.65 meters in length as well as at least one bus up to four meters in height.