Tag

Color Line

Jul 18
Love3

Torghatten Secures New 13-Year Melbu–Fiskebøl Ferry Contract

By 2026 Newsletter week 29

Torghatten has secured a new 13-year contract to continue operating the Melbu–Fiskebøl ferry route in Northern Norway, successfully retaining all of its ferry contracts in the region awarded during the first half of 2026.

The route, linking Hadseløya in Vesterålen with Austvågøya in Lofoten, will be gradually electrified as part of efforts to reduce emissions and support the green transition of Norwegian ferry transport.

Torghatten also confirmed that its newbuild MF HADSEL will be deployed on the crossing. The vessel is expected to enter service next year, providing passengers and crew with a modern, future-oriented ferry.

Jul 18
Love3

Color Line Marks 5,000 Digitoll Transports ahead of Mandatory Rollout

By 2026 Newsletter week 29

Color Line Cargo has announced that it has facilitated more than 5,000 Digitoll transports to Norway, underlining growing adoption of the country’s digital customs system ahead of a key regulatory deadline.

Digitoll, introduced by the Norwegian Customs Administration, enables customs information to be submitted electronically before goods arrive in Norway. The system is designed to speed up border procedures, reduce paperwork and improve the flow of freight by allowing customs authorities to assess shipments in advance.

Color Line has worked with Digitoll for road transport over the past two years and recently extended its services to include sea transport. The company says it is ready to support customers as the industry prepares for the next phase of implementation.

The system is particularly important for RoRo and ferry traffic serving Norway, as it allows customs formalities to be completed before trucks and trailers reach Norwegian ports.

A major milestone is approaching on 15 September 2026, when Digitoll will become mandatory for road freight entering Norway. Transport operators, logistics providers and freight customers are therefore being urged to ensure their processes are compliant before the deadline.

According to Color Line, the achievement of 5,000 Digitoll transports demonstrates the industry’s ongoing transition towards more digital and efficient freight operations.

https://www.toll.no/en/corporate/digitoll

Apr 24
Love3

Color Line Cargo Reaches Digitoll Milestone for Sea Freight

By 2026 Newsletter week 17

Color Line Cargo has announced a key milestone in the rollout of Norway’s Digitoll customs solution for sea transport.

On 21 April, SUPER SPEED 1 completed a successful border crossing to Larvik under the new system. Norwegian Customs then gave clearance for declarations covering unaccompanied freight units, allowing onward transport to continue without disruption.

Color Line Cargo said the achievement followed close cooperation with system providers and the Norwegian Customs Authority.

The company has already worked with Digitoll for road transport over the past two years, but noted that implementation for sea freight required even closer coordination.

Dec 06
Love2

Color Line’s Compensation Claim Against Sandefjord Municipality

By 2024 Newsletter week 49
  • In June 2024, Sandefjord’s harbour was closed due to a failure to renew its authorization for international ship traffic, disrupting COLOR HYBRID ferry operations.
  • Color Line submitted a compensation claim of 4 million NOK in November 2024 for financial losses.
  • The municipality is reviewing the claim and blames a consultancy firm’s lack of expertise for the approval delay.
  • Sandefjord disputes the consultant’s invoice and is considering further claims for its losses.
  • Decisions on compensation and next steps are pending further review.

Source: Sandefjord Kommune

Aug 31
Love2

Color Line Interim Report H1, 2024

By 2024 Newsletter week 35

Here are the financial highlights of the Color Group AS Interim Report for the first six months ending 30 June 2024: 

  • Operating Revenues: NOK 2,919 million (2023: NOK 2,733 million) 
  • Operating Expenses: NOK -2,530 million (2023: NOK -2,266 million), including NOK -60 million for environmental allowances 
  • Earnings Before Interest and Taxes (EBIT): NOK 96 million (2023: NOK 175 million) 
  • Profit Before Tax: NOK 88 million (2023: NOK 24 million 
  • Net Financial Items: NOK -8 million (2023: NOK -151 million), including gains from foreign exchange and derivatives 
  • Total Comprehensive Income: NOK 141 million (2023: NOK 44 million 
  • Net Cash Flow from Operating Activities: NOK 426 million (2023: NOK 421 million) 
  • Net Cash Flow from Investing Activities: NOK -12 million (including NOK 139 million from the ONS Ship Finance transaction) 
  • Net Cash Flow from Financing Activities: NOK 408 million (2023: NOK 3 million), with new unsecured bond loan of NOK 900 million issued 
  • Net Interest-Bearing Debt: NOK 3,889 million (2023: NOK 4,153 million 
  • Equity Capital: NOK 1,786 million (2023: NOK 1,548 million) 
  • Total Balance Sheet Value: NOK 9,297 million (2023: NOK 9,649 million) 

   Outlook 

  • Market Position: The company is well-positioned in the market with attractive commercial and operational concepts, a modern fleet, and a stable customer base. Despite economic uncertainties, demand for Color Line’s services has traditionally remained stable. 
  • Future Expectations: The market is currently perceived as strong, and the company expects positive results for the remainder of 2024. 
  • Financial Strategy: The company continues to focus on maintaining a diversified, long-term financing strategy. A new unsecured bond loan of NOK 900 million (maturing in April 2029) was issued in April 2024, and part of an existing bond loan (COLG16) was repurchased. 
  • Investments and Sustainability: Color Group remains committed to sustainability, with continued investments in innovative environmental technologies and energy efficiency measures. The company has also increased its hedging of bunker fuel consumption and environmental allowances for the coming years. 

Overall, Color Group is optimistic about its market position and financial performance for 2024, maintaining a focus on sustainable growth and operational efficiency. 

 Click on the cover to access the interim report 

Feb 17
Love0

Digitalisation of Color Line’s operations supported by Telenor Maritime’s Unified Hosting Service™

By 2023 Newsletter week 7

Sustainability through digitalisation: Telenor Maritime has installed its Unified Hosting Service™ (UHS®) on board Color Line’s fleet of five ferries, supporting the process of digitalising its operations and sustainability strategy.

From January 2023, the open and vendor-neutral data hosting platform enables Color Line to collect, monitor and transmit crew input data and sensor data from the on-board navigation and engine control systems, delivered by different OEMs (Original Equipment Manufacturers). The UHS® digitalises two major operational activities that were previously handled manually: operational checklists for the crew and the collection of data for the regulatory Monitoring, Reporting and Verification (MRV) reports.

The MRV regulation stipulates that data must be logged for each leg of the journey and added to a report for the authorities (EU, IMO) to analyse and monitor the fleet’s pollutant emissions data. With the UHS® installed, this normally tedious, manual task is now automated. Data is collected from the operational technology on board and is seamlessly shared between the ship and the shore. The MRV data is sent directly to the DNV class society for compliance approval. Moving from manual to digital checklists improves the crew’s daily operations, allowing faster and easier communication and information sharing, and access to higher quality data.

Telenor Maritime is proud to partner with Color Line, supporting its vision to become Europe’s leading shipping company within sustainable passenger and goods transportation. The UHS® provides access to all on-board data on one platform, giving the crew and the land-based management organisation the opportunity to create a common set of master data that can be trusted and reused. Having the ability to access data insights on board will empower the crew to make better decisions in their daily operations, making real-time performance optimisation attainable.

Photo: Anders Martinsen

Feb 10
Love0

Revenue record for Color Line in 2022

By 2023 Newsletter week 6
  • Revenue NOK 5.8 billion (2.6 billion)
  • EBITDA NOK 1.2 billion (211 million)
  • EBIT NOK 598 million (-386 million)
  • 6 million passengers
  • 190,000 freight units (12-m equivalents)

“It is very gratifying to note that strong demand and high customer values ​​on all our routes have resulted in record sales and a historically good operating result. Despite geopolitical unrest and high energy prices, we experienced a large influx of foreign guests in the winter months, a new record in the important high season and a solid pre-Christmas period,” says CEO Trond Kleivdal.

In 2022, Color Line sold its two oldest ships, COLOR VIKING and COLOR CARRIER.

Operating costs increased because of the energy crisis and the sharp rise in wages and prices in 2022. The shipping company therefore carried out risk-reducing measures in the form of securing fuel and currency, and for 2023 has already secured around 80% of the total fuel requirement.

During 2022, net interest-bearing debt was reduced by NOK 966 million to NOK 4,405 million, while available liquidity at the end of the year was NOK 760 million.

Based on good underlying demand, Color Line expects a result for 2023 in line with 2022.

Photo: Octocopterfilm/Glenn Walmann

Sep 15
Love0

Color Line improves the energy efficiency of its vessels with Elogrid

By 2022 Newsletter week 37

Color Line has ordered the Elogrid solution from Elomatic for two of its passenger car ferries to improve their energy efficiency. The Elogrid grid design for thruster openings reduces the additional resistance of vessels. This reduces fuel consumption and carbon dioxide emissions. Elogrid also enhances the performance of thruster tunnels, which leads to better maneuverability.

Apr 29
Love4

Color Line 2021: on the way out of the pandemic

By 2022 Newsletter week 17

2021, another demanding year for Color Line, primarily due to major operational challenges as a result of government-imposed restrictions in connection with the pandemic.

Operating revenues were NOK 2.6 billion in 2021, which was in line with 2020 and significantly below NOK 5.3 billion in the last normal year 2019.

Operating profit increased to NOK 211 million in 2021 from NOK -47 million in 2020.

Profit before tax was NOK -591 million in 2021 (NOK -1.2 billion)

Passengers 1,143,480 (1,255,046)

Freight units 180,850 (174,068)

Color Line’s demand quickly rose to the levels ahead of the pandemic as soon as the community reopened in early 2022. The booking rate is now in line with 2019, and the outlook for the current year is therefore very positive.

Color Line expects a result for 2022 that is significantly better than last year, almost in line with a normal year. The company capitalizes on its very loyal customer base, attractive products and a renewed interest in the local markets within tourism, in combination with a more cost-effective operation and positive development in customer values after the pandemic.