SHORT NEWS

By 2018 Newsletter week 36
  • DFDS is approaching yards for the replacement of the two IJmuiden-Newcastle ro-pax ferries.
  • Greece has been hit by a ferry strike, which originally was only to happen on Monday 4 September. Eventually a second 24-hour strike was added on Tuesday. Trade union PNO wanted to see a 5% increase in wages and effectively obtained 2%.
  • STENA CARRIER has been renamed MEXICO STAR and her flag changed to Mexico. She has been acquired by Baja Ferries.

FERRY SHIPPING

By 2018 Newsletter week 35

Two Balearia Visentini Ro-Pax Ships To Be Converted Into LNG Dual-Fuel

MAN PrimeServ, the after-sales division of MAN Energy Solutions, has won the contract to convert two ro-pax ferries from Baleària to dual-fuel operation.
Sister ships, the NAPOLES and SICILIA, are currently each powered by 2 × MAN 9L48/60A main engines, which will all be converted to 9L51/60DF units that will enable running on LNG.

The conversion of the NÁPOLES is due to take place in Spain between November 2018 and January 2019, with the conversion of SICILIA to take place from October to December 2019.

New £3.5m Fund Launched To Keep Ferries Shipshape

By 2018 Newsletter week 35

Following a summer of disruption on Scotland’s lifeline ferries, a GBP 3.5million Resilience Fund has been announced by the Scottish Government.

The fund will help to reduce the risk of vessels breaking down and to return them to service quicker if they do.

The aim is to tackle obsolescence on the vessels, which would take the ferry out of service for an extended period of time.

Fincantieri Extends The Cooperation With China

By 2018 Newsletter week 35

Fincantieri and China State Shipbuilding Corporation (CSSC) have signed a Memorandum of Understanding for the extension of the industrial cooperation already existing between the two groups to all segments of merchant shipbuilding.

The agreement foresees the parties to discuss the possibility to extend their current collaboration, which counts a joint venture dedicated to the first cruise ships ever built in China for the local market and other related activities, including a number of research and development projects in several areas of the shipbuilding, including cruise-ferries.

First Passengers For VICTORIA OF WIGHT

By 2018 Newsletter week 35

Wightlink’s new car ferry VICTORIA OF WIGHT carried her first fare-paying passengers on Sunday 26 August, just over two weeks after she arrived in the Solent from the Cemre shipyard.

Powered by hybrid energy, VICTORIA OF WIGHT can carry 178 cars and more than a thousand passengers.

Photo: Wightlink

FERRY PORTS

By 2018 Newsletter week 35

Intra-European Ro-Ro Traffic Continues To Grow In Port Of Gothenburg

Intra-European ro-ro traffic to and from the Port of Gothenburg comprises mainly forest products and input goods for the engineering industry. With 593,000 ro-ro units handled, 2017 saw an all-time high for this segment. The signs are that 2018 could be yet another record-breaking year with 305,000 units reported for the first six months, a rise of four per cent.

Photo: Port of Gothenburg

FERRY FINANCE

By 2018 Newsletter week 35

Breakdown Of ULYSSES Affects Irish Continental Group H1 Results

More freight (+4.0%) and less passengers (-1.0%). That is the estimate of market development on shipping routes serving the Republic of Ireland. Unfortunately Irish Ferries suffered from a major disruption due to technical difficulties affecting the flagship vessel ULYSSES, with less ro-ro capacity in June. Because of that, Irish Ferries could not absorb the potential of the growing freight market.

The sale of JONATHAN SWIFT and KAITAKI also caused a reduction in charter fees. Hence the EBITDA reduction of €3.5m principally due to an EBITDA reduction of €3.6 million charter fees.

+14.3% Fuel costs increase to €22.4 million

Delay in delivery of W.B. YEATS cruise ferry by shipbuilder affected planned schedules in 2018.

Irish Continental Group H1 Results summary

+0.7%  Revenue €157.2m (€156.1m)
-11.8% EBITDA (pre non-trading items) €26.1m (€29.6m)
-37.8% EBIT (including non-trading items) €30.1m (€48.4m)

Irish Ferries H1 Results summary

-3.0%   Revenue €90.9m (€93.7m)
-17.9% EBITDA (pre non-trading items) €18.8m (€22.9m)
-44% EBIT (including non-trading items) €24.1m (€43.0m)

Operational Highlights

-2.1% Cars 170,900 (174,500)
-2.9% Passengers 679,700 (700,400)
+3.2% Ro-ro freight 143,100 (138,600)