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Tag: 2024 | Ferry Shipping News

Mar 02
3

Finnlines Reports Strong Growth and Green Investments in 2024

By | 2025 Newsletter week 09 | No Comments

Finnlines has published its financial statements and review for the period January–December 2024. The report highlights a solid financial performance, continued fleet expansion, and strategic route developments aimed at strengthening the company’s market position across Europe.

Financial Performance

  • Revenue for 2024 reached EUR 699.3 million, up 3% from EUR 680.7 million in 2023.
  • EBITDA stood at EUR 162.0 million, compared to EUR 166.3 million in 2023.

Cargo and Passenger Growth

  • 782,000 cargo units transported (710,000 in 2023).
  • 85,000 cars carried (excluding passenger vehicles), down from 156,000 in 2023.
  • 23 million tons of freight transported, slightly down from 1.34 million in 2023.
  • Passenger numbers surged to 936,000, a 35% increase from 695,000 in 2023.

Expansion of Routes

  • New freight and passenger line: Malmö (Sweden) – Świnoujście (Poland) launched in April 2024.
  • Strategic UK shift: Freight services moved to London Medway, Sheerness, improving access to south-eastern UK.
  • Growing European network: Now connecting over 20 ports across the continent.

CEO’s Statement

Tom Pippingsköld, President and CEO of Finnlines, highlighted the company’s commitment to fleet modernisation and sustainability:

“Leveraging economies of scale and expanding outside Finland, we are creating new growth opportunities. Our planned investment in methanol-powered vessels underscores Finnlines’ dedication to sustainable shipping.”

Click on the cover to access the PDF

Feb 02
2

2024: Port Boulogne Calais maintains its momentum

By | 2025 Newsletter week 5 | No Comments
  • Tourist traffic was up by 11% in Calais. 7.6 million passengers (+4%) and 1.4 million vehicles. 68,000 coaches (+13%) used the infrastructure last year, i.e. 3 out of 4 coaches on the Dover Strait.
  • Freight traffic remained steady at 1.8 million units, representing a tonnage of almost 40 million tonnes. On the Strait, more than one lorry in two chooses to use the Port of Calais.
  • Commercial terminal activity rose by 5% to 1.3 million tonnes.
  • Rail motorway services set a new record with 46,000 units, up 10%. 1/3 of freight units transported on rail motorways in France are destined for or depart from the Port of Calais.
  • Traffic in new vehicles increased by a factor of 2.5 over 2024, with 25,000 units.
Jan 28
2

Wasaline’s 2024 Performance: Progress and Sustainability Highlights

By | 2025 Newsletter week 04 | No Comments

Key Developments and Achievements

  • Reduction in Carbon Footprint:
    • Total carbon dioxide emissions reduced by 5% in 2024.
    • Increased use of green shore power by 22%, saving 1,800 tons of CO₂.
  • Operational Performance:
    • Cargo volumes increased by 6% in tonnage and 3.2% in length metres.
    • Passenger numbers and vehicles decreased by 9%, while buses saw a 1.3% decline.
    • Revenue dropped by 3.7%, but overall results remained stable.
  • Market Share Gains:
    • Maintained market share in passenger traffic.
    • Passenger vehicle and bus market share increased, with a 50% growth in the bus segment.
  • Intermodal and Carbon-Neutral Transport:
    • Launched intermodal transport from Umeå to southern Sweden and Europe, minimising emissions.
    • Introduced carbon-neutral transport options for passengers and cargo, with climate compensation allocated to biofuel or battery resources.
  • Commitment to Carbon Neutrality:
    • Targeting full carbon neutrality by 2030.
    • Hybrid vessel AURORA BOTNIA uses LNG, biogas, and batteries, operating on electricity in port areas with green shore power.

Outlook

  • Positive booking trends indicate an economic turnaround for both passengers and cargo.
Jan 20
2

2024: Fred. Olsen Express Concluded Its 50th Anniversary with Strong Figures

By | 2025 Newsletter week 03 | No Comments

Fred. Olsen Express concluded 2024 by celebrating its 50th anniversary in the Canary Islands, transporting:

  • over 3.7 million passenger.
  • more than 1 million vehicles.
  • In total 22,500 trips.

The company also reintroduced the Tenerife-El Hierro route and enhanced its cargo services with two new RoRo vessels connecting Tenerife, Gran Canaria, Fuerteventura, and Lanzarote.

These additions contributed to an 18% increase in cargo transport compared to the previous year.

Jan 20
2

2024: A Successful Year for the Armas Trasmediterranea Group

By | 2025 Newsletter week 03 | No Comments

Armas Trasmediterránea Group closes 2024 with

  • 3 million passengers
  • 1 million vehicles
  • 5 million lane metres of cargo
  • 26 connections between the Canary Islands, southern Andalusia and northern Africa.
  • A request to operate a service between Gran Canaria (Puerto de las Nieves, west side, Agaete) and Santa Cruz de Tenerife
  • A green light to operate the Almeria-Melilla and Motril-Melilla OSP contract (3 weekly rotations per route).
Dec 13
2

Stena AB Interim Report First 9 Months 2024

By | 2024 Newsletter week 50 | No Comments

Stena AB Revenues

Total revenues increased by SEK 593 million to SEK 41,403 (40,810) million in the nine months ended 30 September 2024. The revenues are higher within all segments except for the Shipping segment compared to the same period last year.

Stena AB Operational EBITDA

The operational EBITDA for the consolidated Stena AB Group decreased by SEK 602 million to SEK 10,300 (10,902) million.

Ferry Operations

Operational EBITDA decreased by SEK 251 million to SEK 3,332 (3,583) million in the nine months ended 30 September 2024 mainly due to higher costs and somewhat softer markets compared to the same period last year.

Freight volumes decreased 1%, car volumes decreased 1% and passenger

volumes decreased 1% compared to last year.

Stena RoRo

Operational EBITDA from chartering out vessels increased by SEK 89 million to SEK 742 (653) million mainly due to the delivery of Ala’suinu in February 2024.

Source: https://stena.com/app/uploads/2024/11/Stena-AB-Group-Q3-2024.pdf

Nov 14
2

DFDS 2024 Outlook Lowered by Market Slowdown and Termination EKOL Acquisition

By | 2024 Newsletter week 45 | No Comments

DFDS’ EBIT outlook range for 2024 is revised following results below expectations driven by mainly a more widespread slowdown in Europe than previously expected as well as intensified competition in northern European land transport markets and the Mediterranean freight ferry market.

The current market conditions are expected to continue for the rest of the year whilst a rebound in activity was previously expected for the rest of the year.

The termination of the share purchase agreement to acquire the international transport network of EKOL Logistics may moreover in Q4 2024 entail some financial impact.

As a consequence, the EBIT 2024 outlook range is lowered to DKK 1.5-1.7bn from previously DKK 1.7-2.1bn, and the outlook for the adjusted free cash flow is changed to around DKK 1.2bn from previously around DKK 1.5bn.

The revenue growth 2024 outlook is changed to 8-10% from previously 8-11% as revenue from EKOL Logistics was previously included in the revenue outlook.

Oct 25
2

Tallink Grupp Publishes 2024 Q3 Results

By | 2024 Newsletter week 43 | No Comments

Q3

  • Passengers:
    Tallink Grupp carried 1,715,496 passengers in Q3 2024, a 3.4% decrease from 1,775,821 in Q3 2023.
  • Trips:
    The company operated 1,840 trips in Q3 2024, an increase of 131 trips compared to 1,709 trips in Q3 2023.
  • Revenue:
    Revenue for Q3 2024 was EUR 231.9 million, a 3.7% decline from EUR 240.7 million in Q3 2023.
  • EBITDA:
    EBITDA for Q3 2024 stood at EUR 68.4 million, down 16.7% from EUR 82.1 million in Q3 2023.
  • Net Profit:
    Q3 2024 net profit was EUR 36.8 million, a 24.4% decrease compared to EUR 48.7 million in Q3 2023.
  • Liquidity Buffer:
    At the end of Q3 2024, the company’s liquidity buffer amounted to EUR 107.6 million, compared to EUR 199 million at the end of Q3 2023.
  • Investments:
    Investments in Q3 2024 were EUR 5.6 million, down from EUR 6.1 million in Q3 2023.
  • Loan Repayments & Dividends:
    The company repaid loans worth EUR 27 million and made dividend payments of EUR 44.6 million in Q3 2024.

First Nine Months (1 January – 30 September 2024):

  • Revenue: EUR 602.3 million, a 6.1% decline from EUR 641.6 million in the same period in 2023.
  • EBITDA: EUR 149.5 million, down from EUR 177.7 million in 2023.
  • Net profit: EUR 45.5 million, down from EUR 76.7 million in 2023.

The financial result of the first 9 months of 2024 was impacted by the following factors:

  • Low consumer and business confidence in the home markets as well as mounting geopolitical tensions.
  • The number of vessels on charter dropped from 5 in the beginning of the year to 3 as at the end of the third quarter.
  • Sale of the cruise vessel Isabelle in the first quarter of 2024.
  • Two vessels in lay-up including the cruise vessel Romantika the charter agreement of which was prematurely terminated in September 2023 and MV Superfast IX (formerly Atlantic Vision) the charter agreement of which ended in May 2024.
  • Payment of dividends in the amount of EUR 44.6 million in the third quarter of 2024.
  • Income tax expense on dividends in the amount of EUR 9.2 million was recorded in the second quarter of 2024. In the third quarter of 2024, income tax on dividends was paid in the amount of EUR 4.9 million (EUR 4.3 million of the dividend tax expense was offset by prepaid income tax).
  • Repayment of long-term loans in the amount of EUR 59.5 million.

CEO’s Outlook (Paavo Nõgene):
Despite challenging market conditions and the fragile economic environment, Tallink Grupp’s third quarter results are strong. With two vessels suspended, the company has still managed to deliver confidence-inspiring results. The company remains lean and aims to reinstate its regular dividend payments in 2025, barring any unforeseen disruptions during the remainder of the year.

For a more detailed report: Tallink Newsroom

Sep 15
2

DFDS August volumes: good high-season passenger month

By | 2024 Newsletter week 37 | No Comments

Ferry – freight:  

  • Total volumes in August 2024 were 7.4% above 2023 and up 4.4% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023. 
  • North Sea volumes were above 2023 following mixed activity levels across the route network. Mediterranean volumes were in August above 2023 driven by higher volumes on all routes. 
  • Channel volumes continued in August to be above 2023 as did volumes on the Baltic Sea routes. 
  • For the last twelve months 2024-23, the total transported freight lane metres increased 5.0% to 40.5m from 38.6m in 2023-22. The increase was 2.6% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure. 

Ferry – passenger:  

  • The number of passengers in August 2024 was 68.7% above 2023 and up 9.1% adjusted for the addition of the Strait of Gibraltar routes. The adjusted increase was driven by higher Channel volumes. The number of cars were 55.1% above 2023 and up 9.7% adjusted for Strait of Gibraltar. 
  • For the last twelve months 2024-23, the total number of passengers increased 41.3% to 6.2m compared to 4.4m for 2023-22. The increase was 7.6% adjusted for Strait of Gibraltar. 
Aug 31
2

Irish Ferries profit saw an impressive growth of 80% in H1

By | 2024 Newsletter week 35 | No Comments

Here are the financial highlights from the Irish Continental Group’s H1 Financial Report for the half-year ended 30 June 2024: 

  • Revenue Growth: The Group’s revenue increased by 8.1% to €285.5 million, up from €264.0 million in the same period in 2023. 
  • EBITDA Stability: EBITDA slightly increased by 1.4% to €49.7 million, compared to €49.0 million in HY 2023, indicating stable operational efficiency. 
  • Operating Profit Improvement: Operating profit rose by 7.4% to €17.4 million from €16.2 million in HY 2023. 
  • Profit Before Tax: The Group reported a profit before tax of €14.6 million, an increase of 4.3% from €14.0 million in HY 2023. 
  • Earnings Per Share: Basic earnings per share grew by 10.7% to 8.30 cents from 7.50 cents in HY 2023, reflecting improved profitability per share. 
  • Interim Dividend: An interim dividend of 5.11 cents per share was declared, a 5.0% increase from the 4.87 cents per share in HY 2023. 
  • Net Debt: Net debt increased by 28.7% to €211.7 million, primarily due to the acquisition of the OSCAR WILDE ferry on a charter with a purchase obligation. 
  • Volume Growth: The Ferries Division saw significant growth in volumes, with car carryings up by 21.0% and RoRo freight units increasing by 10.5%. 
  • Container and Terminal Division: This division experienced an 8.7% increase in containers shipped and port lifts, though profitability was down due to lower rates and higher costs. 
  • Strategic Developments: The Group strengthened its position on the Dover-Calais route through a space charter agreement with P&O Ferries and the acquisition of the Oscar Wilde ferry. 
  • Cost Management: Operating costs increased by 7.8% to €188.1 million, with notable increases in fuel costs and expenses related to the EU Emission Trading System. 
  • Strong Liquidity Position: Despite the increase in net debt, the Group maintained a strong liquidity position with cash balances of €51.2 million.

Strong performance of Irish Ferries: 

  • Revenue Growth: The Ferry Division’s revenue increased by 9.9% to €197.6 million, up from €179.8 million in HY 2023. 
  • Operating Profit Surge: Operating profit nearly doubled, rising by 79.2% to €9.5 million from €5.3 million in the same period last year. 
  • Passenger Revenue Increase: Passenger revenues surged by 16.8%, driven by a 21.9% increase in passenger carryings, totaling over 1.33 million passengers. 
  • Car Volume Growth: Car volumes rose by 21.0% to 277,200 units, reflecting strong demand for travel. 
  • Freight Revenue and Volume Expansion: RoRo freight volumes grew by 10.5%, contributing to a 13.3% increase in freight revenues. 
  • Strategic Fleet Expansion: The introduction of the Oscar Wilde ferry on the Dover-Calais route enhanced capacity and service, contributing to overall growth. 
  • Market Share and Recovery: The division’s performance underscores its ability to capture market share in a recovering travel market post-pandemic. 
  • Strong Outlook: These results position Irish Ferries for continued growth and success in the second half of the year. 

Click on cover to view report