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Tag: 2021 | Page 2 | Ferry Shipping News

Jan 13
4

DFDS: UK freight volumes normalised in December

By | 2022 Newsletter week 2 | No Comments

Freight:

  • Total volumes in December 2021 were 7.6% below 2020.
  • Net adjustments for structural route changes reduced growth 2.2 ppt to -9.8%.
  • Total adjusted volumes were up 17.0% compared to December 2019.
  • The decrease in total volumes compared to 2020 was entirely due to lower volumes on all UK routes as stock-building ahead of Brexit boosted volumes considerably on UK routes last year. Most of the UK routes are part of the North Sea and Channel business units which in December 2021 both were above 2019.
  • The Mediterranean business unit continued to carry volumes above 2020 while Baltic Sea volumes were just below 2020 as capacity on one route was reduced from two ferries in 2020 to one ferry in December 2021.
  • Volumes for both the Mediterranean and Baltic Sea business units were above 2019.
  • For the full-year 2021, the total transported freight lane metres increased 5.2% to 43.0m from DKK 40.9m in 2020.

Passenger:

  • The total number of passengers in December 2021 was 8.8% above 2020.
  • The number of passengers increased between Norway and Denmark, while the number of passengers on UK routes decreased due to more severe travel restrictions on these routes.
  • For the full-year 2021, the total number of passengers was 0.9m compared to 1.5m in 2020 and 5.1m in 2019, the latter being the latest pre-Covid-19 year.
Jan 13
4

Record year for cargo on Wasaline – Strong recovery on the passenger segment

By | 2022 Newsletter week 2 | No Comments

Despite the Covid-19 pandemic that continued for most of 2021, passenger volumes increased by 87.5% and Wasaline carried 107,659 passengers (57,415). The number of passenger vehicles increased by 69.2%. During the Autumn, when the corona passport was used for entry, the passenger growth was significant.

After the traffic start of AURORA BOTNIA, passenger volumes were all-time high every month. Unfortunately, the positive development was interrupted in mid-December when the new Covid-19 variant and tightening of travel restrictions were introduced again.

The departures increased by 21.3% to 990 departures (816).

Cargo volumes were all time high since Wasaline started the traffic 2013, and cargo units increased by 25.3%. The increase in tonnes was 27.5%. Every month throughout 2021, the company has had growth in cargo volumes.

Dec 02
4

Strong Performance for Attica Holdings S.A. in challenging times

By | 2021 newsletter week 48 | No Comments

Consolidated revenue

Q3 +30.58% EUR 148.31 million

9M +17.32% EUR 270.50 million

EBITDA

Q3 +27.80% EUR 47.11 million

9M +10.18% EUR 42.74 million

EBIT

Q3 EUR +35.85% 33.34 million

9M EUR +29.40% 4.31 million

Consolidated Profit after taxes

Q3 EUR +32.74 million (12.14 million)

9M EUR loss 1.31 million (loss 28.81 million)

Outlook

Traffic volume will be affected by the evolution of the pandemic and any additional restrictive measures that may be imposed on the movement of passengers.

Marine fuels cost has significantly increased, burdening the operating expenses of companies. During Q3, the Group’s marine fuel costs increased by 74.5% compared to the corresponding period last year.

Key financial figures
Dec 02
4

ΑΝΕΚ Lines : a good summer, soaring bunker prices

By | 2021 newsletter week 48 | No Comments

Gradual recovery of economic activity = increase in traffic = improvement of ANEK’s operational results.

Q3 (summer high season) saw a significant recovery compared to last year.

Sharp rise of bunker prices absorbed the benefit of the good season.

9M +18% turnover EUR 114.2

Q3 +35% turnover EUR 56.0 million

9M EUR 12.4 million (7.7 million in the first nine months of 2020)

Q3 EUR 13.1 million (10.0 million)

9M EUR profits of 4.2 million (losses of 0.7 million in the first nine months of 2020)

Q3 profits of 10.3 million (profits of € 7.2 million)

The upward trend of traffic in all categories of transport project of the Group continues in the months of October and November. However, fuel prices remain fluctuate to very high levels overburdening operating costs.

Nov 25
4

Fjord1 expects continued strong demand for its services

By | 2021 Newsletter week 47 | No Comments

Fjord1’s first nine months and third quarter 2021: Safe and stable operations

Q3

  • -4% Revenue, NOK 758 million. The reduction is attributable mainly to the phasing out of the Molde-Vestnes ferry contract.
  • -18% EBITDA, NOK 276 million
  • The EBITDA margin decline to 36% from 43% mainly reflects higher fuel costs and higher maintenance cost than in same quarter last year.
  • Investments amounted to NOK 289 million, mainly for purchase of a new vessel.

First nine months

  • -5.9% Revenue NOK 2,157 million
  • -14.5% EBITDA NOK 663 million
  • EBITDA-margin of 31% (34)
  • Investments were NOK 531 million for the first nine months, which represented 60% reduction from the same period in 2020, when investments in the newbuilding and electrification programme peaked.
  • Net interest-bearing debt (NIBD) stood at NOK 5,274 million as per 30 September. The company has lower investment commitments going forward and will use operating cash flows, proceeds from infrastructure sales, and NOx compensation for electric vessels to continue to reduce debt.

Outlook

Fjord1 is confident that there will continue to be a strong 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’s strong contract portfolio is worth NOK 21.8 billion through 2034, excluding options and index regulation, which offers a solid platform for profitable growth.

The company had net interest bearing debt of NOK 5.3 billion at the end of September 2021, down from NOK 5.8 billion at the end of September 2020. The company plans for a lower investment level going forward and expects the main part of the cash flow from operating activities and proceeds from the sale of infrastructure assets to be used to reduce interest-bearing debt further.

Click on the cover, access the download page of Fjord1, and download the report

Nov 25
4

BC Ferries Q2: Vehicle traffic levels highest company has experienced

By | 2021 Newsletter week 47 | No Comments

Vehicle traffic returned to the ferry system in record numbers this summer with pent up demand from the domestic market for seasonal holidays and recreational travel once Provincial Health Officer COVID-19 travel restrictions were lifted.

In the three months ended September 30, 2021, BC Ferries carried:

+28% p ax 7.0 million (but -9% compared to the same period in 2019)

+20% vehicles 3.0 million vehicles (+3% compared to the same period in 2019)

New fare choices, including advance purchase Saver fares, were launched on the three Metro Vancouver – Vancouver Island routes late in fiscal 2021. These new fare choices contributed to increased vehicle traffic on traditionally lower utilized sailings, less sailing waits overall, and enabled BC Ferries to safely carry higher overall levels of vehicle traffic than in previous summer seasons.

Q2

+111% Net earnings $79.9 million (37.8)

+28% RevenueIn December 2020, BC Ferries received $308 million through the Safe Restart Program, a federal-provincial initiative intended to help provinces and territories safely restart their economies. The goals of the federal-provincial Safe Restart Program are to mitigate the impact of revenue losses and COVID-19-related spending, to help restore the level of annual earnings required to maintain service levels, and to keep fare increases to affordable levels through March 31, 2024.

Sep 16
4

Thessaloniki Port Authority Financial Results 1st Semester 2021

By | 2021 Newsletter week 37 | No Comments
  • € 37.4m consolidated revenue
  • € 15.3m EBITDA
  • € 8.1m consolidated Net Earnings after Taxes
  • the performance of the parent company ThPA S.A. increased from € 34.7m, to € 37m in the 1st semester of 2021 (6.8%), with €1.5m additional revenues from the container terminal (6.2%) and €0.9m additional revenues from the conventional cargo terminal (9%).
Report from NGO Robin des Bois (English/French)
Aug 26
4

Viking Line, Another Six Months with the Pandemic

By | 2021 Newsletter week 34 | No Comments

Half-year Financial Report January–June 2021 (compared to January–June 2020)

  • Sales EUR 71.5 million (97.5)
  • Passenger-related revenue decreased 34.1% to EUR 50.1 million (76.0), while cargo revenue was EUR 20.4 million (20.7)
  • Other operating revenue EUR 33.6 million (16.1)
  • Operating income EUR 4.5 million (-27.4)
  • Net financial items EUR -2.4 million (-2.1)
  • Income before taxes EUR 2.2 million (-29.5)
  • Income after taxes EUR 2.7 million (-23.7)

Key Figures H1

Passengers 538,348 (998,483)

Market share pax 32.1% (27.0%)

Cargo units 65,214 (62,409)

Market share cargo 16.8% (17.1%)

Market share pax cars 31.4% (24.1%)

Outlook

  • The outlook for the financial year 2021 is better than the outcome for 2020.
  • Improved demand starting late in Q2, 2021 together with one-off items in the form of the sale of MARIELLA and the anticipated redemption of Viking Line’s terminal buildings including fixtures and fittings with the City of Turku will boost income.
  • Uncertainty about how authority requirements, State aid, the impact of vaccination programmes and related restrictions on passenger traffic as well as market demand will affect Viking Line’s operations, results and financial position for the full-year 2021, but on the whole the Board of Directors believes operating income will be positive.

Second quarter 2021 (compared to second quarter 2020)

  • Sales amounted to EUR 46.9 million (22.6)
  • Operating income EUR 12.2 million (-5.9)
  • Covid-19 continues to dominate the company’s operations and results, but at the end of Q2 Viking Line saw increased demand for services between Åland, Finland and Sweden.
  • Traffic between Finland and Estonia has been greatly affected by restrictions.
  • Results for the second quarter were dominated by Viking Line’s public service obligations (*) and cargo transports, but an increase in demand in the passenger sector was also discernible at the end of the period.

(*) During H1, the Group received aid for its public service obligations from Traficom for the Group’s vessels on the Turku–Mariehamn/Långnäs–Stockholm, Mariehamn-Kapellskär and Helsinki–Tallinn routes. It also received aid from the Development and Management Centre of Finland’s Centres for Economic Development, Transport and the Environment (known as ELY centres) and from Finland’s Local Employment and Economic Development Offices. The aid is recognized as State aid under other operating revenue.

Read more: Viking Line Investor Relations
Aug 26
4

Irish Continental Group H1 Results: Increase in RoRo Revenue versus Challenging Pandemic and Customs Distortion

By | 2021 Newsletter week 34 | No Comments

Key highlights in H1, 2021

  • Group revenue generated totalling €141.6 million, €10.8 million more than HY 2020
  • RoRo freight travel patterns affected by new customs requirements following the exit of the UK from the EU.
  • EBIT generated was a loss of €10.3 million, €0.8 million worse than HY 2020.
  • EBITDA generated of €12.7 million, €2.7 million more than HY 2020.
  • Gross cash balances of €131.1 million (31 December 2020: €150.4 million).
  • Net debt at €112.1 million, €23.6 million higher than at the beginning of the year.
  • No interim dividend declared (2020: nil).
  • Commencement of a new ferry service between Dover (UK) and Calais (France) on 29 June. Second ship to be added in September.
  • Further investment in environmentally friendly port equipment at Dublin Ferryport Terminals and increased capacity from 2022.

Commenting on the results, Chairman John B. McGuckian noted;

  • Covid-19 pandemic continued to create an exceptionally challenging trading environment for the Group.
  • The Group welcomes the introduction of the EU Digital Covid Certificate and the easing of restrictions on non-essential passenger travel, however, the timing of its introduction limits the benefits for the key summer season.
  • On 31 December 2020, the UK and EU ended the post Brexit transition period. While trade flows have decreased between Ireland and Britain, our flexible fleet has allowed us to adjust capacity on our direct continental RoRo and container shipping services. While this has led to a reduction in RoRo volumes, the change in yield mix has resulted in increased RoRo revenues. This increase in revenue is particularly encouraging as it is against the backdrop of both the Covid-19 pandemic and the introduction of customs requirements on the Irish Sea.
  • Still of concern to the Group is the lack of implementation of appropriate checks on goods arriving into Northern Ireland from Britain, which are required under the Northern Ireland Protocol. To the extent that goods are destined for the Republic of Ireland, this is causing a distortion in the level playing field as goods that arrive directly into the Republic of Ireland ports from Britain are being checked on arrival.

Some figures for ICG subsidiary Irish Ferries

-47.3% Car volumes (‘000) 29.8 (56.6)

-43.2% Passenger volumes (‘000) 132.8 (233.9)

-15.2% RoRo freight volumes (‘000) 126.7 (149.4)

Full report ICG
ICG Presentation
Aug 19
4

DFDS Q2: Solid Growth in Freight Volumes – Strong Performance Mediterranean

By | 2021 Newsletter week 33 | No Comments

Key figures:

  • Revenue 4,213 DKK m (2,798 in Q2, 2020 and 4,241 in Q2, 2019)
  • EBITDA before special items 897 DKK m (507 in Q2, 2020 and 989 in Q2, 2019)
  • Profit before tax 328 DKK m (11 in Q2, 2020 and 456 in Q2, 2019)

Highlights

  • The growth was driven almost entirely by the freight activities, i.e. freight ferry and logistics.
  • Mediterranean continued its strong performance, delivering app. 50% of the Group’s total profit increase.
  • Passenger volumes remain impacted by travel restrictions.

Outlook 2021 unchanged

  • EBITDA of DKK 3.2-3.6bn
  • Revenue growth of 20-25%
  • Passenger travel is picking up slower than expected

Market Overview

The European freight market stabilised and growth picked up during Q2 following the Brexit transition that impacted Q1 2021.

The current growth in the freight market, however, exceeds capacity due to shortages of truck drivers and equipment, particularly in the UK. This has led to a rise in haulage costs, longer lead times and less reliable supply chains as well as congestion in some ports. The market imbalance is expected to continue in Q3.

The UK will phase in full import border controls by 1 January 2022, including pre-notification requirements for products of animal origin by 1 October 2021.

Trade between the EU and Turkey continued to grow as the depreciation of the Turkish Lira, continued to benefit Turkish exports. The Turkish economy is expected to continue to grow, primarily driven by the export sector.

Remark

The Dover-Calais space charter agreement with P&O Ferries is expected to become operational around 1 October 2021. It will result in shorter waiting times for truck drivers.

To access the full report, click on the image below: