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Tag: 2022 | Ferry Shipping News

Jun 30
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Belfast Harbour posts robust Financial Results for 2022

By | 2023 Newsletter week 26 | No Comments

Belfast Harbour reported robust financial results for 2022, with annual turnover and profits in line with expectations, despite a challenging global trading environment.

Belfast Harbour reported turnover of £77.2m for 2022, up 5% on its figures for 2021, and underlying pre-tax profits of £34.3m, up 1% on the previous year.

Despite the climate of global uncertainty and external challenges sparked by the war in Ukraine, port trade dropped only slightly on the record levels recorded in 2021. Total tonnage through Belfast Harbour was reported at 24.5m tonnes, representing the second highest levels in its history, and a slight easing back of 4.3% from the record levels of 2021.

RoRo freight on Stena Line performed strongly, recording 600,000 freight units during the year, and matching the record performance delivered in 2021.

The volume of ferry passengers travelling through the Port increased by 22% year on year to almost 1.8 million people, with routes benefitting from the full easing of Covid-19 travel restrictions.

The number of passenger cars reached a record high of 462,000, increasing by 12% from the year before, reflecting a continued interest in staycations and local holidays.

Source
Jun 02
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Regular passenger traffic in the Swedish seaports in 2022

By | 2023 Newsletter week 22 | No Comments

Port of Ystad

The last years were very tough for the ferry market, especially for the passenger sector. Although the freight market was not so much affected by the pandemic and started to recover earlier, the passenger traffic was more exposed to restrictions due to the Covid-19 pandemic.

In 2022, total passenger traffic in Sweden amounted to nearly 21 million passengers, which indicates an increase by 35% in comparison with 2021 and 61% compared to 2020 figures.

The three biggest ports in terms of regular ferry passenger traffic are:

  • Ports of Stockholm (7.5 million passengers in 2022, +69.8%). Especially, traffic to popular tourist destinations such as Åland Islands and Helsinki increased.
  • Helsingborgs Hamn – Port of Helsingborg (4.9 million passengers in 2022, +23.5%). Due to stabilization of the pandemic, the commuters came back to their offices and started regular ferry crossings to Denmark.
  • Port of Ystad (2.6 million passengers, +8.8%)

Increases were observed in the vast majority of Swedish ports.

Demand is expected to remain high, or even to increase.

The data comes from the report “Swedish ports in 2022. Summary and Future Outlook”
May 05
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Annual Report ANEK Lines S.A. 2022

By | 2023 Newsletter week 18 | No Comments
  • +24% pax 809,000
  • +2% cars 186,000
  • -14% cargo units 115,000
  • +20% in Group turnover: MEUR0 (MEUR 150.0)
  • +27% in Group cost of sales: MEUR5 (MEUR 133.0)
  • Sharp rise in fuel prices (average increase of more than 80% compared to 2021) burdened excessively operating results, absorbed the benefit from turnover increase and worsened the effort to preserve adequate working capital.
  • The increase in the expenses and the reduction in the Group’s gross profit resulted to the drop of EBITDA to MEUR 0.8 (MEUR 7.0 in 2021), while the Parent company showed losses of MEUR 0.8 versus profits of MEUR 4.1 in the previous year.
  • Net financial cost for the Group for 2022 amounted to MEUR 11.8 (MEUR 10.0), while the results from investing activities formed at profits of MEUR 0.5 against (losses of MEUR 25.7 in 2021). The significant losses from investing activities during 2021 were resulted mostly from impairment of the vessels’ value.
  • As a result of the above, the consolidated net results after taxes for 2022 amounted to losses of MEUR 20.4 (losses of MEUR 40.2 during the previous year), while the net results after taxes and minority interests amounted to losses of MEUR 21.4 (losses of MEUR 41.7). Respectively, net results after taxes for the Parent company for 2022 amounted to losses of MEUR 22.5 (losses of MEUR 43.9).
  • The losses recorded in 2022 continued to deteriorate the Group’s capital adequacy, which was also burdened in 2021 due to extraordinary non-recurring losses and provisions. As a result, the Group’s equity as at 31.12.2022 was negative by MEUR 61.4. Respectively, the capital adequacy as well as the liquidity of the Parent company has also deteriorated significantly, resulting in lack of fulfilling loan obligations as well as in difficulty to fulfil other current liabilities.
  • It is noted that following the agreement between Attica Holdings and the major creditors and shareholders of ANEK, representing 57.70% of the Company’s total capital, it is currently in progress the procedure of merger by absorption of the Company by Attica, according to the decision of ANEK’s Board of Directors dated 26 September 2022. The said agreement is deemed absolutely necessary due to the accumulated issues of the Company. The completion of the transaction is subject to the approval of the competent bodies according to the applicable legislative framework and currently lies at the stage of being examined by the Hellenic Competition Commission.
  • Source: ANEK Investors Centre
Feb 24
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Tallink back in black in 2022

By | 2023 Newsletter week 8 | No Comments

Tallink Grupp’s 2022 Unaudited Financial Results reveal a profitable year.

  • Full year profit of EUR 13.9 million (EUR 56.6 million net loss in 2021)
  • Consolidated revenue of EUR 771.4 million (EUR 476.9 million in 2021)
  • EBITDA of EUR 135.8 million (EUR 58.3 million in 2021)
  • Investments of EUR 203.3 million. EUR 176.7 million related to the new shuttle vessel MYSTAR.
  • 5 million Passengers (2.96 million in 2021).
  • 409,769 Freight units (369,000 in 2021)

The 2022 results were impacted by firstly the remaining Covid Travel Restrictions in force at the start of the year and then, more significantly, by the Ukraine War and resultant business cost increases.

Two ships are on long-term charters (ATLANTIC VISION and ROMANTIKA) and four on short-term charters (ISABELLE, SILJA EUROPA, GALAXY and VICTORIA I)

Report can be downloaded here
Feb 17
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A “satisfactory” 2022 for Viking Line

By | 2023 Newsletter week 7 | No Comments

January– December 2022 (compared to January–December 2021)

  • Sales amounted to EUR 494.7 M (EUR 258.2 M).
  • Other operating revenue was EUR 24.1 M (EUR 46.8 M).
  • Operating income totalled EUR 38.3 M (EUR 32.1 M).
  • Net financial items were EUR -10.0 M (EUR -3.8 M).
  • Income before taxes totalled EUR 28.3 M (EUR 28.3 M).
  • Income after taxes totalled EUR 23.0 M (EUR 24.4 M).

Outlook for the financial year 2023

  • Significant uncertainty continues due to the geopolitical situation.  This is impacting directly on energy prices, inflation, interest rates and currencies and indirectly in terms of propensity to travel, demand, consumption patterns and costs.
  • AMORELLA  was sold in Autumn 2022, and at the end of the year an agreement was reached on the sale of ROSELLA for delivery in January 2023. The company does not foresee any further vessel sales in 2023.
  • Provided that energy prices remain at their current level and taking into account that capital gains are expected to be lower than in 2022, the Board of Directors estimates that income before taxes will be somewhat lower than in 2022..

Jan Hanses, CEO of Viking Line said;

“Our results for 2022 should be described as good. The new financial year 2023 will be both demanding and engaging. We are closely following economic developments and adapting operations to meet the challenges we face, particularly concerning the new environmental norms. Meanwhile, we are optimistic about the future.”

Fourth Quarter Results 2022 (compared to Fourth Quarter 2021)

  • Sales amounted to EUR 124.5 M (EUR 89.3 M).
  • Other operating revenue was EUR 15.2 M (EUR 2.2 M).
  • Operating income totalled EUR 19.4 M (EUR 1.6 M).
  • Net financial items were EUR -2.5 M (EUR -0.4 M).
  • Income before taxes amounted to EUR 16.9 M (EUR 1.2 M).
  • Income after taxes totalled EUR 13.6 M (EUR 1.7 M).
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