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Tag: 2020 | Page 2 | Ferry Shipping News

Jan 28
3

Piraeus Port Authority Q3 2020 Key Financial Figures

By | 2021 Newsletter week 4 | No Comments

January – September

  • -10.79% turnover 99,380,554
  • -20.6% gross profit
  • -13.47 EBITDA
  • -31.37% EBIT
  • -19.16% Consolidated Profit before taxes
  • -19.16% Consolidated Profit after taxes

Q3

  • -19.47% turnover 32.878.031
  • -33.2% gross profit
  • -30.04% EBITDA
  • -37.66% EBIT
  • -39.51% Consolidated Profit before taxes
  • -39.51% Consolidated Profit after taxes

PPA’s investment activity continues based on its business plan and within the third quarter of 2020 investments that were made amounted to 4.1 million euros

PPA’s overall traffic figures in 2020 (5,436,797 TEU), despite the pandemic, presented a reduction of 3.7% compared to 2019 (5,648,054 TEU), which is an excellent performance compared to other European ports with higher losses.

Jan 07
1

Tallink Grupp’s Latest Statistics Reveal Impact of Pandemic

By | 2021 Newsletter week 1 | No Comments

Tallink’s Q4 and December statistics reveal the total impact of COVID-19 on the company’s annual passenger, vehicle and cargo figures.

  • -61.8% passengers in 2020
  • -82.5% Latvia-Sweden
  • -81.9% Estonia-Sweden
  • -66.1% Finland-Sweden
  • -52.3% Estonia-Finland
  • -36.7% passenger vehicles in 2020

Despite the many challenges during the year, the company transported a total of 359,811 units of cargo during 2020, which is only 5.2% less than during the full year 2019.

Paavo Nõgene, CEO of Tallink Grupp, said commenting on the results, “…. the company has weathered this storm as well as possible… and we are ready to carry on our battle through the storms and are determined to begin the road to recovery in 2021”

Detailed Data December & Q4, 2020
Dec 10
1

FERRY SHIPPING

By | 2020 Newsletter week 50 | No Comments

ANEK LINES Q3 2020 Key Financial Figures

During the first nine months (2020), traffic volumes of the ANEK Group vessels dropped by 50% for passengers, by 44% for private cars and by 8% for freight units.

Respectively, in Q3 (2020) traffic volumes decreased by 48% in passengers, by 38% in private cars and by 6% in freight units.

First 9 months of 2020 in EUR ,000 (same period in 2019)

  • Turnover: 97,004 (138,076)
  • Gross Profit:  13,893 (36,491)
  • EBITDA: 7,705 (26,582)
  • EBIT: -718 (18,080)

Consolidated profit before taxes: -7,685 (11,039)

Consolidated profit after taxes: -8,216 (10,120)

  • Q3 of 2020 in EUR ,000 (same period in 2019)
  • Turnover: 41,627 (65,573)
  • Gross Profit: 12,429 (27,711)
  • EBITDA: 10,004 (23,408)
  • EBIT: 7,155 (20,582)

Consolidated profit before taxes: 4,916 (18,069)

Consolidated profit after taxes: 4,642 (17,540)

The second wave of the pandemic and the new restrictive measures in the movement of passengers are expected to lead to a decrease in traffic and revenue during the winter period 2020-2021 compared to the same period last year, while a gradual recovery of sizes is expected after Q1, 2021.

Nov 12
0

DFDS October Volume Report: Freight Above Last Year

By | 2020 Newsletter week 46 | No Comments

Ferry – freight:

  • Total volumes in October were 2% above 2019 adjusted for the closure of the Paldiski-Hanko route
  • North Sea volumes were above 2019 driven by stockbuilding ahead of Brexit.
  • Automotive volumes continued to recover.
  • Baltic Sea volumes were also above 2019, mainly due to additional capacity between Estonia and Sweden.
  • Mediterranean volumes were increased by growth in export volumes from Turkey.
  • Volumes on the English Channel were slightly below 2019.

Freight lane meters (,000)

  • October 2020: +0.4% (4,130)
  • Last 12 months: -3.9% (39,487)

Ferry – passenger:

  • Total number of passengers in October 2020 was 84% below 2019.
  • The decrease reflects a continued negative impact from travel restrictions related to Covid-19.
  • In the Baltic Sea, passenger numbers were considerably less impacted.

Passengers (,000)

  • October 2020: -83.8% (64)
  • Last 12 months: -55.1% (2,302)
Sep 03
0

FERRY SHIPPING

By | 2020 Newsletter week 36 | No Comments

A Terrible Summer Season Forces Brittany Ferries to Take Further Action

Brittany Ferries announced the closure of some easterly routes. Caen-Portsmouth however remains open.

Westerly routes will see the arrival of a new vessel in December.

Negative

  • Decision by the UK government to impose quarantine restrictions resulted in 65,000 pax cancellations and less bookings for autumn
  • BF was hoping for a summer season with 350,000 pax (instead of the normal 700,000+)
  • BF will only reach 200,000 passengers maximum
  • Passengers = 75% of BF’s income

Positive

  • BF has re-affirmed that its foundations are strong
  • Reservations for the 2021 season are strong (100,000 pax booked for 2021)
  • Newbuilding GALICIA enters service in December, on UK-Spain

Result

  • Five-year recovery plan
  • Closure of Cherbourg-Portsmouth, Le Havre-Portmouth, Saint-Malo-Portsmouth.
  • Cherbourg-Poole will also remain closed for the remainder of the year (closed since March)
  • CONNEMARA laid up as from 7 September
  • BRETAGNE laid up as from 7 September, no further service until 22nd March
  • BARFLEUR not in service for rest of 2020
  • ETRETAT laid up until further notice
  • KERRY no Roscoff-Rosslare service as from 7 September
  • CAP FINISTERE 3-month technical lay-over as from December
  • ARMORIQUE laid up Q1, 2021
Source: Brittany Ferries
Sep 03
0

Stena Group H1: Strong Tanker Operations versus Ferries and Offshore

By | 2020 Newsletter week 36 | No Comments

The Covid-19 outbreak is affecting Stena’s Business Areas in different ways and there has been a negative financial impact on the Stena AB Group as from mid-March.

EBITDA trends (+/-)

  • -Ferry operations
  • – Offshore drilling
  • +Tanker operations
  • +Property

Key H1 figures Stena AB

  • Total revenues SEK 16,632 million (SEK 16,973 million)
  • Direct operating expenses SEK 12,027 million (SEK 11,287 million)
  • EBITDA SEK 2,894 million (SEK 4,265 million)

Segment: Ferry Operations

  • EBITDA, excluding redundancy costs, SEK 514 million (SEK 1,369 million)
  • Redundancy costs for closing routes amounting to SEK 302 million.
  • Car volumes decreased 53%, passenger volumes decreased 52% and freight volumes decreased 11%.

Segment: RoRo Operations

  • EBITDA from chartering out Roll-on/Roll-off vessels SEK 114 million (SEK 151 million)
  • The decrease is mainly due to lower charter income due to the sale of the vessel KAIARAHI in Q4, 2019.

Change in vessel measurement policy

Stena has decided to change the measurement policy for vessels in the Ferries section and in the Offshore Drilling section as of January 1, 2020.

The remeasurement has:

  • increased the value of ferries with SEK 4.3 billion
  • decreased the value of drilling units in the segment with SEK 3.1 billion

Effect on H1: Depreciation, Amortisation and Impairment Depreciation and amortisation charges increased by SEK 142 million to SEK 3,668 million (SEK 3,526 million)

Outlook

“Given the uncertain situation, it is not currently possible to predict the full potential impact on the Stena AB Group.“

Stena AB Group Q2 and H1, 2020
Sep 03
0

Irish Continental Group H1: Freight is Stable – Strong Liquidity Position

By | 2020 Newsletter week 36 | No Comments

Traffic volumes in H1, 2020 (Ferries Division)

  • -63.9% Passengers 233.9k (648k)
  • -64.9% Cars 56.6k (161.2k)
  • -2.7% RoRo freight 149.4k (153.6k)

Financial figures H1, 2020 (ICG)

  • Revenue EUR 130.8 million (166.8)
  • EBITDA EUR 10 million (30)
  • EBIT EUR -9.5 million (11.6)

Gross cash balances EUR 132.5 million (31 December 2019: 110.9 million).

Net Debt at EUR 103.3 million is 25.7 million lower than at the beginning of the year.

Depressed economic activity and travel restrictions = significant reduction in passenger traffic while freight activity across the Group has been less affected.

The Group has continued to focus on its strategic development and has retained a strong liquidity position.

ICG H1 PPT Presentation
ICG H1 Final Report
Sep 03
0

Color Line’s H1 Affected by Pandemic – Strong Customer Base Is Encouraging

By | 2020 Newsletter week 36 | No Comments

Traffic volumes in H1, 2020:

  • -62% passengers 621,781 (1,634,408)
  • -4.2% freight units 85,759 (89,503)

Financial figures H1, 2020:

  • Operating revenues NOK 1,116 million (2,278) from which:
    • Revenue Cargo NOK 248 million
    • Norwegian Government compensation scheme NOK 129 million.
  • Operating loss/profit NOK -189 million (290)
  • Operating loss (EBIT) NOK -490 million (-8)

Facts

  • Adverse effects in connection with the measures imposed by the authorities in response to the coronavirus.
  • Extensive cost-cutting measures, including temporarily laying off employees (approximately 2 200 personnel).
  • Color Line suspended all passenger traffic on all its services in mid-March, with the exception of two ships operating between Norway and Denmark and a ro-ro vessel operating between Norway and Germany.
  • In mid-June, the company resumed passenger-carrying services between Norway and Denmark. At the same time, services to Germany were again permitted, with passenger embarkation in Oslo only, combined with goods traffic.

Outlook

  • Color Group is expecting to report earnings that are substantially lower than last year, and results will very much be dependent on the nature of the restrictions imposed by the authorities in the coming months.

+    Strong customer base, modern tonnage, excellent track record.

Download the H1 Report 2020
Sep 03
0

Norled H1: Increased EBITDA Profitability

By | 2020 Newsletter week 36 | No Comments

Norled operates ferries, fast ferries and tourist boats in Norway.

Especially the tourist boats and the onboard kiosks were affected by Covid-19.

Financial figures H1, 2020:

  • Revenue NOK 987 million (1,136)
  • Operation costs NOK 770 million (926)
  • EBITDA NOK 217 million (210)
  • EBIT NOK 100 million (114)
  • Net Income NOK 34 million (68)

Decrease in revenue is mainly due to changes in contract portfolio.

Norled ended 5 contracts at year end 2019, and started 4 new contracts 1. January 2020.

Increased EBITDA profitability is mainly due to changes in contract portfolio. EBITDA profitability in Q2 is affected by the COVID19 epidemic, mainly with reduced traffic revenue. Especially the expressboat segments related to tourist routes and charter activity have been negatively affected by the COVID-19.

As a result of COVID-19, there is a risk of delays in the construction and delivery of new vessels. The company is constantly working to optimize a plan with temporary vessels on the routes where there may be delays in delivery

Norled is owned by the Nordic infrastructure fund CapMan Infra and the Canadian company CBRE Caledon Capital Management.

Norled Report H1/Q2 Report
Aug 20
0

FERRY FINANCE

By | 2020 Newsletter week 34 | No Comments

Sharp Deterioration In Viking Line’s Results Due To The Impact Of COVID-19

Sales

  • H1 -57% EUR 97.5 million (227.0)
  • Q2 -82% EUR 22.6 million (131.1)
  • H1 Operating income EUR -27.4 million (-8.8)
  • H1 Net financial items EUR -2.1 million (-2.2)
  • H1 Income before taxes EUR -29.5 million (-11.0).
  • H1 Income after taxes EUR -23.7 million (-8.7).

The ongoing COVID-19 pandemic has caused a serious deterioration in the Group’s operating conditions. Viking Line reacted quickly to the crisis and adjusted operations to the changed market. Salary and other employment benefit expenses decreased during the second quarter. A large percentage of the staff in Finland was furloughed. In Sweden and Estonia, government-funded furloughs were also made use of.

During the period March 19-June 18, the group received aid from Finland’s National Emergency Supply Agency for cargo traffic to ensure the security of supply for four of the Group’s vessels serving the Turku – Långnäs – Stockholm, Mariehamn – Kapellskär and Helsinki – Tallinn routes.

The Group’s three other vessels were not in service at times during the period March – June. Although cargo traffic generated revenue to cover variable costs and a small percentage of fixed costs for each vessel during the second quarter, it did not generate positive operating income for the vessels in service that received aid

Revised Outlook

Change in prospects: The impact of COVID-19 pandemic has continued to cause a deterioration in the Group’s consolidated results and financial position during the peak season as well. Results for Q3, when the most of the Group’s income for the year is generated, will be significantly worse than in previous years due to the COVID-19 pandemic. The earnings outlook for the financial year 2020 has therefore been revised. Income for the full financial year will be negative.

Press Release Viking Line