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Tag: 2022 | Page 3 | Ferry Shipping News

Jun 30
0

BC Ferries full year results: everything up, but still not to pre-pandemic

By | 2022 Newsletter week 26 | No Comments

BC Ferries: traffic, revenue, net earnings and expenditures are all up, however the financial results for the fiscal year ended March 31, 2022 (fiscal 2022) are still lagging behind pre-pandemic levels.

Key figures (full year, ending March 31, 2022)

+37% passengers (17.9 million) (but still 20% lower than pre-COVID fiscal 2019)

+26% vehicles (8.5 million) (but still 5% lower than pre-COVID fiscal 2019)

+12% Revenue $965.4 million

+11% Operating $868.0 million (increases in the number of sailings, staff required to provide more service, fuel and maintenance expenses.

BC Ferries experienced a net loss of $68.2 million prior to recognizing Safe Restart Funding. After recognizing $102.3 million of this federal-provincial funding, net earnings were $34.1 million, an increase of $13.1 million compared to the previous year, which included $186.0 million in Safe Restart Funding.

In 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.  Assistance to the public transportation sector, including BC Ferries, has been a critical part of the BC Safe Restart Plan. Without this funding, BC Ferries would have recorded a total loss of $233.2 million over the past two years ($68.2 million in fiscal 2022 and $165.0 million in fiscal 2021).

The operating relief component of the Safe Restart Funding BC Ferries received has now been exhausted. The company does not foresee the need for any further COVID relief funding.

Jun 16
0

DFDS Monthly Volume Report: Freight Up 11%, Passenger Recovery on Track

By | 2022 Newsletter week 24 | No Comments

Ferry – freight: Total volumes in May 2022 were 10.8% above 2021 driven by higher volumes in all business units, except Baltic Sea.

Channel’s volumes were elevated by P&O Ferries’ suspension of sailings for most of the month compared to last year.

North Sea volumes were above 2021 as higher activity on most UK routes offset lower industrial flows between Sweden and the Continent, partly due to supply chain bottlenecks in the automotive sector.

Volumes in the Mediterranean network continued to grow supported by higher capacity. The war in Ukraine lowered Baltic Sea volumes between mainly Germany and Lithuania compared to 2021.

For the last twelve months 2022-21, the total transported freight lane metres increased 1.5% to 43.8m from 43.1m in 2021-20.

Ferry – passenger: The number of passengers increased eightfold to 296k equal to 68% of volumes in May 2019, the latest comparable month pre-Covid-19. Transport segments are recovering faster than leisure segments as the number of cars was at 89% compared to 2019. Channel’s volumes were elevated by P&O Ferries’ suspension of sailings for most of the month.

For the last twelve months 2022-21, the total number of passengers was 1.6m compared to 1.0m in 2021-20 and 5.1m in 2019, the latter being the latest pre-Covid-19 year.

May 11
5

DFDS Q1, 2022: Growth, growth, growth…

By | 2022 Newletter week 19 | No Comments

Group revenue increased 52% to DKK 5.7bn.

  • Ferry Division’s revenue was increased by higher freight and passenger activity as well as a rise in bunker surcharge revenue.
  • Logistics Division’s revenue was increased by the acquisition of HSF Logistics Group in September 2021 and ICT Logistics in January 2022 as well as higher activity and yield increases for the existing activities.

EBITDA increased 9% to DKK 822m.

  • The total freight EBITDA for ferry and logistics activities before special items increased 10% to DKK 926m driven mainly by growth in the Mediterranean business unit, improved logistics performance, and the acquisition of HSF Logistics Group.
  • The war in Ukraine reduced Baltic Sea’s freight volumes and the result.
  • The total EBITDA for passenger activities in the Baltic Sea, Channel, and Passenger business units decreased 12% to DKK -104m.
  • Earnings were reduced by the re-opening of Oslo-Frederikshavn-Copenhagen in a low season market environment with passenger numbers still recovering from Covid-19. This offset higher Channel earnings as all ferries have continuously operated in this market.

Outlook 2022
The revenue growth outlook is increased to around 30% compared to 2021 due to significantly higher revenue from oil surcharges as well as higher passenger revenue (previously 23-27%).
EBITDA before special items is unchanged DKK 3.9-4.4bn (2021: DKK 3.4bn).
The outlook is detailed on page 10 in the full report.

Read the Q1 2022 interim report here:
May 11
5

DFDS Monthly Volume Report: Freight Up 5%, Continued Passenger Recovery

By | 2022 Newletter week 19 | No Comments

Ferry – freight:

  • Total volumes in April 2022 were 5.4% above 2021 driven by higher volumes in the Mediterranean and Channel business units.
  • Volumes in the Mediterranean network continued to grow supported by higher capacity. Channel’s volumes were well above last year due to a positive impact from suspension of P&O Ferries sailings through most of the month.
  • North Sea volumes were slightly below 2021 primarily due to dockings that reduced capacity between the Netherlands and the UK.
  • The war in Ukraine lowered Baltic Sea volumes considerably compared to 2021, mainly between Germany and Lithuania.

Ferry – passenger

  • The recovery in passenger numbers continued in April with a tenfold increase to 337k equal to 70% of volumes in April 2019, the latest comparable month pre-Covid-19.

Volumes increased in all regions, including a positive impact from suspension of P&O sailings on the English Channel.

Apr 29
4

Tallink Grupp publishes 2022 first quarter financials

By | 2022 Newsletter week 17 | No Comments

Low season quarter results were still strongly impacted by the pandemic and the start of the war in Ukraine in late February. The latter resulted in a sharp increase in fuel, food and commodities prices as well as some decrease in traveller confidence in the second half of the quarter.

The results were also impacted by the planned dockings of several of the company’s vessels, including dockings brought forward from autumn 2022, to ensure there are fewer traffic interruptions in Q4 this year.

Q1, 2022 (EUR)

+97.5% Revenue 106.1 million

Net loss 40.0 million

EBITDA -11.0 million (-6.3 million in Q1 2021)

Negative effects:

  • pandemic
  • war in Ukraine
  • high fuel prices
  • traveller confidence issues

 

Actions:

Sourcing alternative opportunities and work for vessels (such as ROMANTIKA charter to Holland Norway Lines, and ISABELLE securing a contract as a refugee accommodation vessel for at least four months this year)

Goal:

To end the year 2022 with a net profit.

Apr 07
4

Roro market to remain firm, says BRS

By | 2022 Newsletter week 14 | No Comments

The brokers of BRS Group published their very comprehensive annual report.

Some highlights for the roro section, starting on page 136.

  • Dramatic improvement in the roro market, caused by surging volumes, to keep up with the increased demand from consumers, and amid the need for inventory replenishment which were languishing at low levels.
  • Chartering activity followed the upward trend which began in 4Q20. The periods fixed became longer, and rates continued to rise significantly throughout the year.
  • In 2Q and 3Q, as cargo volumes continued to increase, the periods became longer as charterers became confident in the market and realized the importance of securing tonnage to cover the increased cargo volumes. Rates increased.
  • The outlook for 2022 is also optimistic based on the continued scarcity of tonnage.
  • Sale and purchase activity were higher: 21 units sold (8 in 2020, 18 in 2019)
  • Average age 27.5 years
  • Average size 1,590 lane metre. (boosted by several transactions including the ACACIA SEAWAYS (4,076 lane metre ) and POL STELLA (3,663 lane metre) etc…
  • BRS expect the second-hand market of roros to remain firm.
  • 10 roro ships delivered in 2021 amounting to roughly 50,500 lane meters.
  • 10 new orders were placed in 2021, up from only 2 in 2020.
  • The order book is down to a level BRS have not seen in several years.
  • Forecast: tonnage to remain tight in 2022, particularly in the 1,000-2,000 lane metre and 2,000-3,000 lane metre segments. BRS expect a strong market, but not necessarily with as high a volume of transactions as in 2021.

Click on the cover below to access the full BRS annual review

Feb 17
4

Scandlines is looking for a new CFO

By | 2022 Newsletter week 7 | No Comments

Scandlines CFO Per Johannesen Madsen has decided to leave the German-Danish ferry operator and will resign from his position by the end of August 2022 at the latest.

Per Johannesen Madsen has been CFO and part of Scandlines’ Executive Management since 2012, responsible for the overall financial management of the group and its financial reporting. He has been in charge of a number of departments and projects – including the sale of Scandlines as a company and of the Helsingborg-Elsinore route. Now Per Johannesen Madsen has decided to continue his journey outside Scandlines.

Per Johannesen Madsen will continue his work for Scandlines until further notice and will also contribute to ensuring a smooth transition once a new CFO has been found. He will resign from his position by the end of August at the latest.

Feb 10
4

DFDS Q4: growth set to continue in 2022

By | 2022 Newsletter week 6 | No Comments

“In spite of Covid-19, Brexit, and supply chain bottlenecks, we delivered a strong result for 2021. In 2022, we look to raise both revenue and earnings more than 20%,” says Torben Carlsen, CEO.

  • EBITDA increased 19% to DKK 915m in Q4
  • Supply chain bottlenecks eased during Q4
  • Early signs of pick-up in passenger numbers
  • EBITDA expected to grow more than 20% in 2022
  • Total dividend of DKK 8.00 per share planned

OUTLOOK 2022

  • EBITDA range DKK 3.9-4.4bn (2021: DKK 3.4bn)
  • Revenue growth of 23-27%
  • Investments of DKK 2.3bn
Read the Interim and Full-year Q4 2021 Report here:
Nov 25
4

Finnlines getting ready for the introduction of green ships in 2022

By | 2021 Newsletter week 47 | No Comments

FINNECO III, the third and last hybrid roro vessel in a series, was launched in China Merchants Jinling Shipyard (Jiangsu) on 22 November 2021.

When entering the Finnlines traffic, the new vessels will reduce environmental impact of the fleet and improve energy efficiency. Lithium-ion battery systems will allow zero-emission port visits and low-emission two-stroke engines, emission abatement systems, solar panels and an innovative air lubrication system will cut emissions further.

The hybrid roro vessels will start in Finnlines’ Baltic, North Sea and Biscay traffic in 2022.

Roro ship particulars

  • Ice class: 1 A Super
  • Length, overall: 238.0m
  • Breadth, moulded: 34.0m
  • Gross tonnage: 60,515
  • Deadweight: 17,377
  • Lane metres: 5,800
Nov 25
4

Brittany Ferries resumes Western Channel fast ferry sailings for 2022

By | 2021 Newsletter week 47 | No Comments

From late May until early September 2022, Cherbourg will be linked with Portsmouth and Poole. The sailings will be operated on Brittany Ferries’ behalf by Condor Ferries using its fast ferry CONDOR LIBERATION.

Period: 27 May – 5 June and 15 July – 4 September

Days: Fridays, Saturdays and Sundays

Timetable: Portsmouth 07:00 Cherbourg 11:00 / Cherbourg 11:45 Poole at 13:15

The service will complement Brittany Ferries’ conventional car-ferry sailings from Poole to Cherbourg which will resume on 28 March 2022.