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Tallink Grupp reports a strong profit of EUR 78.9 million for the year (EUR 13.9 million in 2022). During the year, Tallink Grupp managed to continue the steady path of recovery from the last four years of crises.
Outlook by Tallink Grupp’s CEO Paavo Nõgene
“In 2024 we will continue to focus on maintaining profitability while balancing the high and increasing costs of fuels and other products and services and the addition of new costs for the business, such as the emissions costs arising from shipping being included in the ETS scheme from 1 January 2024. As the climate crisis intensifies alongside the economic and geopolitical tensions, we are also increasing our efforts of searching for new technologies and solutions to play our part in tackling climate change. In 2023 we trialled a number of new technologies on board our vessels, all aimed at increasing energy efficiencies and reducing fuel consumption and thus also our emissions, but even greater collaboration and innovation is urgently needed to make a bigger difference. This is also one of our priorities for 2024.
Full details here.
Photo: MyStar, Tallink Grupp. Photo by Raul Mee.
Key figures for 2023 and the outlook for 2024 have already been published on 9 February 2024. See Ferry Shipping News.
Download the annual report by clicking on the cover.
A total of 5 million passengers sailed on the Viking Line vessels in 2023.
During the period June-August, there were nearly 1.8 million passengers, and many departures during the summer holiday season were sold out well in advance.
Less passengers than previous year 4,897,494 (4,945,564) because of fewer vessels.
AMORELLA ended its service for Viking Line in October 2022 while ROSELLA made its last voyage for the company in January 2023.
VIKING GRACE and VIKING GLORY had the biggest passenger increase, on the Turku–Åland–Stockholm route, with 2,123,647 (1,955,988) passengers. Viking Line’s market share here was 72 %. Viking Glory, which launched service in 2022, is still a novelty and a very popular vessel.
VIKING GABRIELLA served the Helsinki–Åland–Stockholm route on its own during the year and had 496,844 (515,445) passengers.
VIKING XPRS had 1,655,548 (1,403,048) passengers in its service between Helsinki and Tallinn.
The number of passengers who sailed on special cruises and other routes was 71,116.
The number of cargo units was up 125,269 (117,777), and the number of passenger cars was down 563,081 (630,651). (Remark, with two ships that left the fleet)
Outlook:
“In 2023, Viking XPRS was reflagged under a Finnish flag, and during the autumn we decided to do the same with Viking Cinderella, which will be reassigned to the Helsinki–Stockholm route in spring 2024. The new financial year 2024 will be both exciting and demanding. We are following economic developments very closely and adapting our operations to meet the challenges we face. Last autumn, we formed a joint venture with the shipping company Gotlandsbolaget with the task of developing and providing cruises with M/S Birka Gotland. We see great potential for this joint venture and have a generally optimistic outlook for Baltic Sea travel,” says Jan Hanses, CEO of Viking Line.
Portsmouth International Port is celebrating after a double win at industry Wave Awards.
Dubbed the ‘Oscars’ of the cruise industry, the Wave Awards brings together international cruise lines, ports, travel agents and destinations to recognise the very best of the UK’s cruise sector.
Voted by industry experts, Portsmouth faced serious competition from international ports for Best Port, and major organisations for Best Environmental Innovation.
Portsmouth launched its brand new terminal this summer and is heading for a record breaking year for cruise calls. This also follows the announcement the port is on track to be the first UK port to provide shore power across multiple berths for multiple ships, after securing UK government funding to deliver an innovative sustainable energy project by 2025.
Andrew Williamson, Portsmouth International Port’s head of cruise and ferry said:
“It was an honour to represent Portsmouth and pick up not one, but two awards, Best Environmental Innovation and Best Port.”
The Swedish purchasing power remains low in the wake of economic downturn, resulting in reduced container imports. However, overall container handling in the Port of Gothenburg is increasing as the Swedish export industry continues to thrive, with the forestry sector leading the way.
Intra-European Ro-Ro traffic decreased by 6% during the first three quarters of the year. Like the container segment, import volumes have gone down, but the upturn on the export side has not compensated to the same extent as in the container segment.
The third quarter results continue the upward trend of the previous quarters, reinforcing the company’s continued business development.
More than 2 million passengers moved this July from and to the ports of Piraeus, Rafina and Lavrio, registering a 7.85% increase compared to the same month last year.
Of these, 1.5 million were to and from the port of Piraeus, an increase of 8.55% compared to July 2022. (Cars +7.66%, trucks +5.73%, two-wheelers +7.82%.)
The largest increase in passenger traffic is observed in the Argosaronic Islands as 452,680 passengers moved this July compared to 389,908 in July 2022. This is an increase of 16.1% compared to last year.
A 4.99% increase in passenger traffic is also seen in the port of Rafina (cars +7.47%, two-wheelers +4.53%, trucks -2.9%).
It is noted that the port of Lavrio recorded an increase in passenger traffic by 7.57% and cars by 8.61%.
Tallink Grupp’s Q2 (April- June) financial results are revealing a swing back into profit following the minor loss in Q1.
Q2
H1
The strong results of Q2 mean that the company has delivered a profitable first half year for the first time since 2015.
Commenting on the results of the first half year of 2023, Tallink Grupp’s CEO Paavo Nõgene said:
“The results of the first half of 2023 are proof that the decisions we have made over the last few years to speed up our recovery following the Covid crisis with vessel charters, were the right ones. The positive impact of the vessel charters is undeniable, especially at this time when the increased cost of living is still putting pressure on people’s travelling choices. Our current strategy to operate our regular routes with the most optimal number of vessels and charter out other vessels, is helping us on our road to recovery.”
“Our focus now is on maintaining profitability into the next two quarters of 2023 while continuing to reduce our debts accumulated over the crisis periods. The vessels we currently have operating on our four core routes are performing well with some room for growth should passenger numbers from further afield than our home markets see some increases in the year or so ahead. The short-term plan is to continue operating with the same business model of the last few years, with a mix of regular traffic and charter contracts, until such time when demand on our current key routes or elsewhere increases and warrants additional capacity.”
On 24 February, the Coastal Shipping Council of the Hellenic Ministry of Shipping and Island Policy approved the itineraries of two additional ferries on the Piraeus – Western Cyclades route.
Aegean Sea Lines’ request was granted for their ship ANEMOS (ex-ROSELLA), which will be introduced on the Piraeus – Serifos – Sifnos – Milos and Piraeus – Sifnos – Thira – Ios lines.
Photo: Kostas Papadopoulos
Also approved was the reassignment of Seajets’ SUPERSTAR from the Rafina – Andros – Mykonos – Paros line to the Piraeus – Serifos – Sifnos – Ios – Thira line.
Both requests will be in force from 1 April to 31 October 2023.
Photo: Seajets