By | 2019 Newsletter week 25 | No Comments

Color Line Expects a Lower Profit Than Last Year

Color Group AS is expecting to have a profit in 2019 that is down comparable to the figure reported in 2018, because of:

  • increased oil price
  • weaker Norwegian currency
  • delayed delivery of COLOR HYBRID from Ulstein Yard
  • weaker freight marked than expected.
  • BOHUS which was out of service due to an extraordinary operational disruption
  • Settlement in the legal dispute between Nye Kystlink AS and Color Group AS / Color Line AS.

Total cash effect is estimated to approximately NOK -200 mill. (of which approximately NOK -150 effect on results) In 2019.

BOHUS has been sold to a subsidiary company of Northbay Transportes Maritimos LTD, Madeira, Portugal with delivery latest 30 August 2019. The transaction has been guaranteed by the subsidiary company Tnitsea Shipping LTD, Madeira, Portugal. The ship will continue its operations in the Mediterranean, most likely for Red Star Ferries.


By | 2019 Newsletter week 18 | No Comments

Scandlines Maintained Profitability In 2018, With Stable Operations And High Reliability Levels

The group’s two ferry routes completed more than 43,000 departures and transported 7.4 million passengers between Germany and Denmark. Freight traffic increased by 7% and surpassed 700,000 units in 2018.

Key figures (in EUR)

Group Revenue declined 2%: 477 million (487 million). Reason is a slight decline in car traffic and BorderShop visits driven by the unseasonably warm weather in the period from May to September, which dampened Scandinavians’ need to travel South.

Revenue from the two ferry routes was unchanged at 352 million following strong performance in the freight segment and continued progress on the Rostock-Gedser route, compensating for slightly declining leisure traffic on the Puttgarden-Rødby route during the year.

BorderShop revenue declined to 125 million (135 million) due to lower leisure travel and a weakening of the Swedish currency, which reduced Swedish customers’ incentive to visit the group’s BorderShops.

Profitability was maintained in 2018 as Scandlines generated profit from ordinary activities (recurring EBITDA) of 191 million (194 million) corresponding to a stable recurring EBITDA margin of 40% (40%).

While profitability was satisfactory and driven mainly by higher freight volumes and cost control, we are still far from reaching results posted by fixed connections and other infrastructure companies in the region.


Moby’s Challenging 2018 Is A Prelude To Better Performances In 2019

By | 2019 Newsletter week 18 | No Comments

The Moby Group closes 2018 with growth in combination with challenges.

  • The ferries transported half a million additional cargo, especially on the vessels of the CIN subsidiary.
  • Excellent performance in ‘Revenues from onboard services’, (+8.8%) mainly attributable to the cruise-ferry business in the Baltic, and on the Corsica and ‘Sardinia routes.
  • Revenue in line with previous year.
  • Increase in operational costs (bunker, new start-ups ).

Achille Onorato, CEO of the Group agrees that 2018 was not an easy year. However, entering new business areas and finalising investments will be beneficial as from Q1, 2019.

Revenues by region:

  • Sardinia down 3.3% (less pax, less freight)
  • Sicily up 14.7% (more pax, more freight, new Naples-Catania route)
  • Tuscan Archipelago down 1.2%
  • Corsica up 3.9% (more pax, more onboard sales)
  • Baltic up 12.9% (onboard revenue)

Figures (in € thousands)

  • Revenues 584,335 (586,164)
  • Operating profit -21,071 (68,414)
  • Profit before taxes -58,112 (26,840)
  • Profit for the year -62,683 (22,947)


By | 2019 Newsletter week 15 | No Comments

Strong Year 2018 For Copenhagen Malmö Port

  • Turnover: SEK 908 million (SEK 839 million).
  • Operating income: SEK 110 million (SEK 78 million)
  • Profit: SEK 46.7 million (26.3 million)
  • CMP handled 15.1 million tonnes of freight compared with 15.5 million tonnes in 2017.
  • Decrease in volumes in the oil sector. Success story mainly due to cruise business.
  • Increase in ro-ro volumes: 298,000 handled units.


By | 2019 Newsletter week 8 | No Comments

Fjord 1 Q4 Report: Business As Usual

Fjord 1 saw in Q4 an 11 % revenue growth due to start-up of new contracts in the ferry segment.

The company completed several additional dockings of its ferries, more than in 2017.

Fjord 1 saw a lower contribution from the tourist segment and associates.

  • +11% Revenue 772.1 MNOK (692.9)
  • -7% EBITDA 219.1 MNOK (234.3)
  • -23% EBIT 133.5 MNOK (173.4)
  • -13% Net Profit 117.5 MNOK (135.0)

Several new ferries have been delivered. Fjord 1 is continuing to invest in new eco-friendly ships and new contracts.


By | 2019 Newsletter week 7 | No Comments

Viking Line Group 2018 Results On A Par With Previous Year

  • Consolidated sales EUR 497.8 million (EUR 513.6)
  • Operating EUR 9.3 million (10.0)
  • Income after taxes EUR 5.5 million (5.3)
  • Passenger-related revenue was EUR 450.3 million (467,5)
  • Cargo revenue amounted to EUR 45.3 million (43.8)

Due to lower operating expenses compared to the previous year, consolidated income for 2018 improved somewhat despite lower sales.


By | 2019 Newsletter week 6 | No Comments

DFDS Reached New All-Time High Result In 2018

DFDS can look back on a very strong 2018 and growth is set to continue in 2019 on the back of the recent expansion of U.N. RoRo in the Mediterranean.

The company will shortly introduce the first of the Chinese freight ferries. The expanded capacity will support their customers’ growth.

DFDS is also feeling confident being ready for their customers with whatever the Brexit outcome will be.

+13% Q4 revenue DKK 4.0bn

+20% Q4 EBITDA DKK 688m

+10% Full-year revenue DKK 15.7bn

+11% Full-year EBITDA DKK 3.0bn

Passenger Records For Fjord Line

By | 2019 Newsletter week 6 | No Comments

Fjord Line can look back on a record year with strong passenger growth in both Western Norway and Eastern Norway.

The largest growth in 2018 was the domestic route Stavanger-Bergen-Stavanger, with a 24% increase in the number of passengers (59,000).

Sandefjord-Strømstad also increased significantly – from 394,200 guests in 2017 to 458,900 in 2018. This corresponds to a growth of 16%.

Kristiansand-Hirtshals noted a total of 209,800 guests, an increase of around 4,000 passengers compared to 2017.

In total, the company carried 1,386,700 passengers in 2018, 8% more than in 2017.

“We already notice that the response from the market is good. We sail in the tailwind and expect that 2019 will be a new record year, ”says CEO Rickard Ternblom.