Tag

Tag: 2020 | Page 3 | Ferry Shipping News

Aug 20
0

Fjord1 Q2: Ferries Up, Tourism Down

By | 2020 Newsletter week 34 | No Comments

With more new vessels added, and new route contracts, the ferry division of Fjord1 has done a good job with a revenue increase of 14%.

The tourism division (fjord sightseeing etc) was of course affected by the absence of foreign travellers.

Highlights

  • New ferry contracts secured revenue growth of 9% and EBITDA-margin of 33%
  • Ferry and Passenger Boats are shielded by contract structures based on capacity and sailing frequency, not traffic volumes.
  • Continued operating profit for Catering despite revenue reduction
  • Negative results from joint ventures and associates in Tourism due to strict Covid-19 travel restrictions. There was rise in domestic tourism in July.

Ferry Division Q2

+14% Revenue NOK 698 million (612)

+17% EBITDA NOK 227 million (194)

+15% EBIT NOK 112 million (97)

Fjord1 now has 5 “electric” routes

  • Anda-Lote on E39 outside Sandane (GLOPPEFJORD and EIDSFJORD)
  • Krokeide-Hufthammar outside Bergen (MØKSTRAFJORD and HORGEFJORD)
  • Husavik – Sandvikvåg outside Bergen (HUSAVIK)
  • Brekstad-Valset in Trøndelag (VESTRÅTT and AUSTRÅTT)
  • Hareid-Sulesund on Sunnmøre (HADARØY, GISKØY and SULØY)

Renewal programme comprising 25 vessels coming to an end

  • Delivered in Q1: FLORØY, SILDAFJORD, GRIP, BØMLAFJORD and SMØLA
  • Delivered in June: MØRING
  • The last vessel in the current programme was delivered in August
Access the Reports
Aug 13
0

FERRY SHIPPING

By | 2020 Newsletter week 33 | No Comments

According to the recent XRTC Business Consultants report, the Hellenic Coastal Shipping is entering a new era due to the pandemic.

The passenger traffic reduction by 50% will probably cause possible movements within the sector as well as allow new entries.

The most important points of the report are the following:

  • The passenger traffic of 2020 will be reduced by 49% compared to 2019 (about 8,88 million passengers compared to 18,2 million last year). The first five months of 2020 were disappointing for the ferry companies, as there was a drop of 60% in the transport traffic. As a result, only a few ships are currently operating –due to the pandemic- in order to cover the needs of this years’ high season, while many other ships remain moored including the majority of the high-speed crafts.
  • The winter of 2020-2021 will be particularly difficult for the sector, as the revenues from both the first semester and the summer season 2020 is not enough to cover sufficiently the operators’ financial and operational needs. So, the only way to stay afloat is to take a direct state or European subsidy.
  • The Greek ferry market should immediately take action on two levels: The first level is related to its survival while the second to its long-term maintenance and sustainability through European funds. At both levels, state aid is necessary.
  • This year’s financial results are not expected to be positive for the ferry operators, apart from a small number of companies that serve exclusively public interest lines. It is therefore important that both investors and financiers deal with the situation prudently in order to avoid an imminent immediate collapse of the companies.
  • Today, the large ferry operators (Attica Group, Minoan Lines and ANEK Lines) control about half of Greece’s transport traffic. The other half is controlled by comparatively new companies (leading Seajets), who have managed to control – with their fleet (65 conventional and high-speed crafts) – significant shares mainly in the Aegean markets and inter-island travel.
Aug 13
0

FERRY FINANCE

By | 2020 Newsletter week 33 | No Comments

DFDS Q2: Pickup in Demand Faster than Expected 

Q2 2020

  • Revenue down 34% to DKK 2.8bn
  • EBITDA down 49% to DKK 507m
  • Rebound in freight volumes at end of Q2 and in July, better than expected
  • Passenger activities cause most of profit decrease
  • Encouraging pickup in passenger demand for reopened routes
  • Outlook improved: EBITDA of DKK 2.2-2.5bn now expected for 2020 (previously: likely to be reduced towards DKK 2bn)

”Our outlook is improved. Freight volumes have picked up and the demand for ferry travel is encouraging on our reopened passenger routes. It is uncertain whether the pickup in demand is sustainable and we therefore remain alert,” says Torben Carlsen, CEO.

Read the Q2 2020 Interim Report here (in English):
Aug 06
0

HSW’s EXPRESS PEGASUS Introduced on the Crete-Dodecanese Subsidized Line

By | 2020 Newsletter week 32 | No Comments

The Hellenic Seaways’ veteran EXPRESS PEGASUS will be introduced –-summer season 2020– on the Sitia (Crete)-Kasos-Karpathos-Rhodes subsidized line.

From August 5 to September 27, the ferry will connect Crete with Dodecanissa for the first time in her Greek career. The ship is expected to leave the port of Piraeus soon.

According to the schedule she will depart every Monday, Wednesday and Friday at 11.00 from Sitia and every Tuesday, Thursday and Sunday at the same time from Rhodes.

EXPRESS PEGASUS was built in Italy in 1977. Her carrying capacity is for 1.294 passengers and 185 private cars.

Aug 06
0

Increased Protocol and Strict Measures on Board Greek Ferries

By | 2020 Newsletter week 32 | No Comments

On August 2, the Hellenic Ministry of Shipping and Island Policy announced the change in the health protocol with an increase of the passenger capacity on board coastal ferries to 80%.

The protocol on the ships with cabins is also increased to 85%, while the minimum distance of 1,5 meters is maintained between the passengers.

The passenger and crew cabins would accommodate up to four people if they are first- or second-degree relatives or people with disabilities with their escort.

At the same time, it was decided the mandatory use of face mask –from August 4 to August 18, 2020- inside and outside the ferries.

The passenger protocol in the high-speed crafts will be also increased to 80% only if they have High Efficiency Particulate Air (HEPA) filters and their installation and operation is certified according to the manufacturer’s instructions.

The shipowner, the operator and the ferry masters are responsible for the preparation of the aircraft-type seats coverage plan for each ship. Passengers, masters and crew members are required to comply with COVID-19 outbreak prevention and control measures before boarding, during boarding and when disembarking on passenger – car ferries that perform domestic trips.

For any violation of the provisions and measures the fines imposed are:

  • to passengers, naval agents and crew members the administrative fine is 150 euros
  • to ship-owners, operators and ship masters the administrative fine is 1.000 euros.
Aug 06
0

Eckerö’s H1 Result also Marked by Pandemic

By | 2020 Newsletter week 32 | No Comments
  • Ferry ECKERÖ and cruise vessel BIRKA STOCKHOLM were out of service as of March 15. ECKERÖ resumed operations June 26.
  • 7 million passengers traveled with the Eckerö Group’s vessels (1.5 million last year)
  • Turnover EUR 52.8 million (EUR 102.0 million)
  • Operating profit EUR -21.8 million (EUR -7.6 million)
  • Profit including unrealized changes in market value of bunker hedges, EUR -22.2 million (EUR -5.5 million)
  • Interest-bearing liabilities EUR 99.2 million (EUR 91.8 million)
  • Net debt EUR 89.0 million (EUR 65.8 million)
  • On July 3, the Group’s intention to close down the Birka Cruises business area was announced
Download Report (in Swedish)
Aug 06
0

Tallink July 2020 Statistics Show Recovery

By | 2020 Newsletter week 32 | No Comments

Tallink transported a total of 617,206 passengers in July. That is half of last year’s July, but more than double of June 2020.

The number of cargo units transported on all the company’s vessels in July 2020 decreased by 2.9% and amounted to 29,108 cargo units.

The greatest reductions in the number of cargo units transported have been on the Latvia-Sweden and Estonia-Sweden routes.

On the Estonia-Finland and Finland-Sweden routes cargo transportation, however, actually increased in July compared to July 2019, 2.4% and 7.1% respectively.

The total number of passenger vehicles transported in July this year also decreased: 118,167 vehicles (155,297 in July 2019).

Normal route operations, comparable at least to some extent to previous years, continued only on Tallinn-Helsinki, Muuga-Vuosaari, Paldiski-Kapellskär and Turku-Stockholm routes.

Tallinn-Stockholm and Helsinki-Stockholm routes were and currently still are suspended completely and the Riga-Stockholm route only operated four limited capacity special trips during the month.

At the same time, the company operated a number of new temporary routes and several additional special cruises during the month, which helped recover passenger numbers at least to some extent. New temporary routes such as Helsinki-Riga, Turku-Tallinn, Stockholm-Visby, a number of special cruises from Tallinn via Helsinki to Aland and one special cruise from Helsinki to Saaremaa, all proved popular with the customers and have enabled travellers around the Baltic sea to travel safely close to home this summer.

Jul 30
0

FERRY FINANCE

By | 2020 Newsletter week 31 | No Comments

Irish Continental Group H1: Strong Freight Performance Despite Pandemic

It is no surprise to see that the transportation of goods has kept ICG busy, while the passenger figures dropped considerably.

Volumes (Half Year 30 June 2020)

  • -65.0% Cars
  • -2.7% RoRo Freight
  • -11.7% Container Freight (teu)
  • -13.5% Terminal Lifts

H1 Finance (unaudited)

  • -21.6% Consolidated Group revenue €130.8 million
  • -33.3% Total revenues €61.6 million

The decrease was principally due to lower passenger volumes resulting from the travel restrictions introduced across the EU due to the Covid19 pandemic.

ICG Release
Jul 03
0

DFDS

By | 2020 Newsletter week 27 | No Comments

DFDS Adapts To Post Covid-19 Market Conditions

The new initiatives include:

Industry sales of large freight customer solutions, involving both ferry and logistics operations, will be combined in one unit. The unit will be part of the Logistics Division Overlapping functions will be streamlined.

Freight and logistics operations will be adapted to new market conditions, including optimisation of port terminal and haulage operations

Passenger concepts have been aligned to changes in travel market dynamics (mainly transportation and holiday travel).

Onboard concepts and offerings have been simplified.

A range of improvement and efficiency projects will simplify and focus business support functions. This includes a reshaped and integrated IT and digital organisation as well as a downsizing of various functions.

These initiatives are expected to generate annual cost savings of up to DKK 250m. In 2020, a positive financial impact of DKK 50-75m is expected.

The adaptation to the new market conditions will lead to around 650 employees leaving DFDS in the coming months, 200 of whom are employed in Denmark. DFDS currently employs around 8,600 people.

A one-off redundancy cost of around DKK 100m is expected in 2020 and will be recorded under Special items

DFDS: Current Situation

Freight volumes in Q2 have in most areas been above expectations and of the 12 freight carrying ferries laid up in March/April, five have now been redeployed.

One of the passenger routes, Oslo-Frederikshavn-Copenhagen, reopened on 25 June following the opening of borders between Denmark and Norway.

The reopening of the second passenger route, Amsterdam-Newcastle, and the non-essential travel on the English Channel is contingent on an easing of UK and EU travel restrictions.

DFDS:  Outlook 2020

On 7 May 2020, the outlook for EBITDA before special items was reduced towards DKK 2bn.

Uncertainty remains exceptionally high, particularly for passenger travel, and this may still cause the outlook and its assumptions to change significantly in the second half of the year.

Therefore, the 2020 outlook for EBITDA before special items is maintained at this point in time.

May 14
0

FERRY FINANCE

By | 2020 Newsletter week 20 | No Comments

“Financial Aid Ok, But In Accordance With Existing Rules,” Says Emanuel Grimaldi

Q1: Finnlines Group’s revenue was almost on previous year’s level

  • Revenue EUR 130.5 million (-5%)
  • Result EUR 20.7 million (+28%)
  • Cargo units 186,000
  • Cars (not including passengers’ cars) 41,000
  • Passengers 121,000

“Operationally the quarter ended in difficult conditions, with a strong impact on passenger transport and a slowed down growth in business globally. Finnlines is not immune to this slowdown in global trade and we also need to mitigate the Covid-19 impact. Thus, we have taken steps to lower costs and have implemented cost-saving plan,” said CEO Mr Grimaldi in a news release.

“Governments across Europe have promised various emergency measures to shipping companies. This can lead to very unfair competition. Any financial aid has to be provided in accordance with existing rules, and that individual companies should not be singled out for support at the expense of more robust rivals. Any aid, either from governmental or from security of supply agencies, should be available to all shipping companies, regardless of their financial strength, in order to avoid distorting the marketplace and risking antitrust complaints. If the state intervenes, it has to intervene in a such way that it does not create unfair competition.”