May 10
2

Finnlines swiftly navigates the challenges

By | 2024 Newsletter week 19 | No Comments

Q1 was challenging but Finnlines managed to navigate through obstacles, such as high interest rates, inflation, geopolitical concerns, and a slowdown in economic growth in Europe.

Several political strikes in February and a four-week long strike in March–April resulted that Finnlines earnings declined notably.

The result was also burdened by the start-up costs of two new freight-passenger vessels.

Key figures Finnlines Group Q1

-0.9% Revenue EUR 162.2 million

-15.4% EBITDA EUR 30.1 million

Freight units 184,000

Cars 27,000 cars

Passengers 153,000

Leisure travel surged remarkably on the route between mainland Finland, Åland Islands and Sweden after the introduction of the two Superstar vessels. Expectations for the summer season are thus high.

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May 10
2

Echandia will supply Öresundslinjen’s ferry Hamlet with maritime battery system

By | 2024 Newsletter week 19 | No Comments

Swedish maritime battery system supplier Echandia has received an order from Öresundslinjen for the conversion of ferry Hamlet into full electrical operation.

The battery system is scheduled for delivery in the first half of 2025.

Operating on the Helsingør – Helsingborg route, Hamlet traverses the Öresund strait up to 8000 times annually. The battery system is tailored for a minimum operational lifespan of 10 years without requiring battery replacement. Furthermore, the battery can be recharged in both ports in as little as 11 minutes on average.

More information: Echandia

May 10
2

Stena Line to increase cargo capacity by 30% on Stena Forerunner and Stena Foreteller

By | 2024 Newsletter week 19 | No Comments

Stena RoRo has signed a conversion contract with China Merchants Jinling (Weihai) Shipyard for the installation of an additional cargo deck, increased thruster capacity and preparations for shore power onboard Stena Foreteller and Stena Forerunner.

The cargo capacity will increase by 30% and the vessels will after conversion be ready to meet future efficiency requirements.

The conversion for both vessels will be finalised during 2025.

May 10
2

May 21 – First shipment for Lakeway Link’s new RoRo-service between Gdynia and Södertälje

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On May 21, Lakeway Link will start a RoRo service between Gdynia and Södertälje, with three weekly departures in each direction.

To deploy this service, Lakeway Link has acquired the Lakeway Express. The RoRo vessel is sailing under Swedish flag and will have its home port in Västerås, where Lakeway Link has its headquarters.

Lakeway Express, with a carrying capacity of 1625 lane metres or approximately 108 trailers, is fully equipped to meet trailer, project cargo and mafi transport needs as well. The vessel will call the OT Port Gdynia and the Port of Södertälje on the Swedish side. The journey between the two destinations is approximately 22 hours. Following the reconstruction of the Södertälje locks in 2026, the service is expected to expand to include Västerås, accessed through Lake Mälaren.

Source: Lakeway Link

May 10
2

Torghatten won the first ferry contract in Sweden

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Swedish Västtrafik announced that Torghatten AB has won the tender for the Strömstad-Koster route for a contract of 15 years.

Torghatten will build two new fully-electric ferries to operate the connection, thereby further expanding its green fleet.

This is a fantastic day for us at Torghatten and Nordic Ferry Infrastructure! We have been working for some time to gain a foothold in Sweden, and Strömstad-Koster will be the starting point for us, says managing director of Torghatten AB, Stein Andre Hergistad-Olsen.

In addition to the new contract for Stömstad-Koster, Torghatten operates the autonomous city ferry Estelle in Stockholm. Torghatten wants to establish itself as a solid ferry operator in Sweden.

May 10
1

IMAGE CARDS

By | 2024 Newsletter week 19 | No Comments

Finnlines, in partnership with GIT Coatings, is accelerating its decarbonization efforts by adopting XGIT-FUEL, an innovative graphene-based hard foul release hull coating, across its ro-ro and ro-pax fleets. Starting with their first vessel in 2022, Finnlines has already applied this high-performance hull coating to four vessels as part of a recently signed fleet agreement, reducing fuel consumption and emissions by around 7% compared to previously used coating.

Source: Gitcoatings

On May 8, 2024, Asterion II entered the port of Piraeus fully refreshed following a period of a serious refit and upgrades at Elefsis shipyards. The ship is sporting the Anek Lines livery and expected to serve initially on the Piraeus – Heraklion route with her fleet mate Kissamos. She used to serve on the Patras – Venice line under Superfast Ferries operation. After the successful merger of Anek Lines from Attica Group it was decided to enter the domestic ferry service replacing Kriti II.

Photo: Kostas Papadopoulos

On May 6, 2024, HSC Caldera Vista departed for Spain (Tarifa) following the decision of Africa Morocco Link (AML) to operate on the Tarifa – Tanger Ville line with two highspeed crafts. Caldera Vista was chartered from Seajets and will be followed by HSC Morocco Express 1 (ex-Highspeed 3), which undergoing a serious refit and upgrades at Perama repair zone since October 2023.

Photo: Kostas Papadopoulos

May 03
2

Grimaldi to order 9 ro-pax ships for Finnlines, Minoan Lines and Grimaldi Euromed

By | 2024 newsletter week 18 | No Comments

Emanuele Grimaldi announced to FERRY SHIPPING NEWS that the Grimaldi Group is working on a significant order for 9 RoPax ships for its short-sea networks, valued at over EUR 1 billion.

They are likely to be built in China.

The Naples-based shipping company is still finalizing details about propulsion. Grimaldi wants to ensure “the best possible solutions in terms of innovation and sustainability, reducing consumption, and possibly utilizing traditional bunker fuel as well as methanol and biofuels.”

The 9-ship order will be as follows: Three ships for Finnlines, evolving from the ‘super star’ vessels just delivered; an additional two for Minoan Lines; and the remaining three for Grimaldi Euromed, with a capacity for 3,000 passengers and 3,000 lane meters of garage space.

The price for these new series of vessels will be approximately EUR 150 million each, with the tender for shipyards expected to be launched next summer and signing scheduled for next autumn.

Rendering of the recently delivered vessels: Knud E. Hansen

May 03
1

Tallink Grupp delivers profit in Q1 2024

By | 2024 newsletter week 18 | No Comments

Q1 has a profit for the quarter that historically delivers a loss for the company due to tourism low season.

+147.4% net profit EUR 2.6 million

+6.3% consolidated revenue EUR 160.4 million

+27.2%  EBITDA EUR 34.5 million

The Q1 results were positively impacted by marginally increased passenger numbers in Q1 2024 compared to the same period last year, by ongoing charter contracts for four of the company’s vessels and the sale of company vessel Isabelle.

The company continues to maintain a strong liquidity buffer of EUR 123.9 million, combined in cash and unused credit lines.

Source: Tallink

May 03
1

Eckerö: Passenger record in March, quarter affected by dockings

By | 2024 newsletter week 18 | No Comments

First quarter of Rederi AB Eckerö in a nutshell:

  • In January, both Finlandia and Eckerö docked at the shipyard in Landskrona. Between 8 January and 7 February Finlandia was out of service, while Eckerö was out of service 8 -29 January.
  • 1,120 departures (-13%)
  • 473,325 passengers (-11%) On average, slightly more passengers travelled per departure than in the corresponding period last year. The lower total number of passengers in the first quarter is attributed to the dockings in January and February, while record numbers travelled on both routes in March.
  • 39,759 freight units (-6%).
  • The previously agreed sale of Shipper was completed on 22 January.
  • -8% Turnover MEUR 36,3
  • Operating result was -4,3 MEUR (-5,4 MEUR). Adjusted for the sale of Shipper the operating result was -7.5 MEUR (-5.4 MEUR).
  • Result for the financial year was EUR -4.0 million (EUR -5.6 million).
  • Source in Swedish.