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Tag: 2020 | Page 4 | Ferry Shipping News

May 14
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Good Start Of A New Era For Fjord1 – Q1 Results

By | 2020 Newsletter week 20 | No Comments

Q1

  • Revenue NOK 752 million (+17%) after the start-up of new routes on 1 January 2020
  • EBITDA NOK 194 million (+23%)
  • Reduced frequency on ferry and passenger boat routes due to travel restrictions have had a limited financial impact, although the effects on Catering and Tourism have been significant.
  • The vessel renewal programme is coming to an end, with five vessels delivered in Q1. Two deliveries remain out of a total of 25 new and upgraded vessels.
  • Fjord1 views 2020 as a ramp-up year, with the start-up of several new ferry contracts, the completion of the vessel newbuild programme and further progress in the electrification of the fleet. Fjord1 is well-equipped to navigate this more uncertain market environment, with a long-term contract portfolio of NOK 22.8 billion and exciting long-term prospects in the tourism industry.
  • Travel restrictions for technical personnel from Germany and Italy may delay the completion of electrification infrastructure. Such delays could postpone the start-up of fully electric ferry routes. This will in turn, postpone the release of government-funded NOx compensation for the new vessels, public infrastructure payments and expected fuel cost savings, as well as the turning point of the net interest-bearing debt.

Outlook

  • Fjord1 believes there will be demand for safe, environmentally friendly and reliable transport in coastal regions in the future.
  • Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.
  • Fjord1 has a strong contract portfolio of NOK 22.8 billion in total value through 2033, excluding options and index regulation.
  • In 2020, revenue is expected to grow by 10-15% compared with 2019. The increase will be driven by the new ferry connections that started 1 January 2020.
Apr 23
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Pandemic Drags Down Viking Line’s Q1 Results

By | 2020 Newsletter week 17 | No Comments

Some key elements of the Q1 report.

  • Passenger traffic is marginal at present, since only the transport of people between the Finnish mainland and Åland is allowed.
  • Quick measures to cut costs have been necessary. Basically the entire staff has been furloughed.
  • Backed by Finland’s National Emergency Supply Agency’s decision to aid cargo traffic to ensure the security of supply, four of the Group’s vessels are serving the Turku – Långnäs (Åland) – Stockholm, Mariehamn – Kapellskär and Helsinki – Tallinn routes. Viking Line’s three other vessels are not in service.
  • While current cargo traffic generates revenue for each vessel to cover variable costs and a small portion of fixed costs, it does not generate positive operating income for the vessels in service.
  • To strengthen liquidity and safeguard the future of the Company, Viking Line has begun negotiations for additional funding. The intention is to use State guarantees proposed in a supplementary budget submitted to the Finnish parliament.
  • Operating income totalled EUR – 21.5m (-14.2).
  • Passenger-related revenue was EUR 63.2m (83.0), while cargo revenue amounted to EUR 11.3m (12.3). Net sales revenue was EUR 54.9m (70.1).
Source: Viking Line Q1
Mar 19
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FERRY FINANCE

By | 2020 Newsletter week 12 | No Comments

DFDS’ Outlook for 2020 Has Been Suspended

DFDS’ outlook for 2020 has been suspended following further restrictions on intra-European travel and general lock-down measures across Europe.

Passenger ferry services generated around 16% of DFDS’ total revenue of DKK 17bn in 2019.

The majority, 84%, of DFDS’ total revenue is thus generated by freight activities, including freight ferry services and logistics solutions.

As anticipated in the outlook for 2020, freight volumes linked to UK were for the first two months of 2020 lower than last year as volumes in Q1 2019 were boosted by UK stockpiling.

Freight ferry volumes between Europe and Turkey were above 2019 for the first two months of 2020, likewise in line with expectations.

The result for the first two months of 2020 was overall in line with expectations.

Until now freight activity has been in line with expectations but has started to decrease as manufacturing plants suspend operations and demand in general is impacted by the lock-downs. Contingency planning to mitigate effects of changes in demand and operations for both ferry and logistics activities is ongoing across DFDS’ network.

The further restrictions on intra-European travel and general lock-down measures have significantly reduced financial visibility and the outlook for 2020 is therefore suspended.

Jul 11
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Attempt Of The Cypriot Ministry Of Mercantile Marine To Introduce A Cyprus-Greece Coastal Link In The Summer Of 2020

By | 2019 Newsletter week 28 | No Comments

The subject of the link was discussed before the Committee on Energy, Commerce, Industry and Tourism, where Deputy Minister of Shipping Natassa Peylidou and Deputy Minister of Tourism Savvas Perdios were invited to attend.

The viability study of the specific ferry link is completed.

The Cypriot government will subsidy the whole operation. So, after the completion of the study the process continues with the approval of the funds that the Cypriot government will agree to give for the line.

Soon will follow the bidding process in order to find the appropriate entrepreneur to undertake this task. The Cypriot state will subsidise the link but not the commercial part.

The officials underline that the completion of that process is scheduled before the summer of 2019 while the ferry ticket will be cheaper than the airline. It is also discussed the possibility of an intermediate stop at Rhodes island. The frequency of the trip will be once a week from May to September and in the winter months once every fortnight. The trip will last 30 hours.

The port that is more likely to serve the line in Cyprus will be Limassol.

Source: theseanation.gr

May 09
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Ardrossan Harbour Design Work Given The Green Light By Project Task Force

By | 2019 newsletter week 19 | No Comments

The outline design for the upgrade of Ardrossan Harbour has been formally signed off by the Ministerial Taskforce for the project.

This significant revamp of facilities will increase the reliability and resilience of ferry services, as well improve passenger facilities and introduce an integrated transport hub for onward travel.

Construction is expected to begin in Spring 2020.

Source: Ardrossan Herald