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Tag: DFDS | Ferry Shipping News

Jul 19
2

DFDS June volumes: continued growth for both freight and passengers

By | 2024 Newsletter week 29 | No Comments

Ferry – freight:  

  • Total volumes in June 2024 were 5.8% above 2023 and up 0.9% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023. 
  • North Sea volumes were below 2023 as higher volumes on the Swedish routes were offset by lower temperature controlled volumes, mainly food, between the Continent and the UK. 
  • Mediterranean volumes were also in June above 2023 driven by higher volumes on all routes. 
  • Channel volumes continued in June 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 2.8% to 40.2m from 39.1m in 2023-22. The increase was 1.0% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure. 

Ferry – passenger 

  • The number of passengers in June 2024 was 46.2% above 2023 and up 11.1% adjusted for the addition of the Strait of Gibraltar routes.  
  • The adjusted increase continued to be driven mainly by higher Channel volumes. 
  • The number of cars were 26.2% above 2023 and up 3.6% adjusted for Strait of Gibraltar. 
  • For the last twelve months 2024-23, the total number of passengers increased 26.2% to 5.5m compared to 4.3m for 2023-22. The increase was 8.6% adjusted for Strait of Gibraltar. 
Jun 14
2

DFDS to sell Oslo-Frederikshavn-Copenhagen route to Gotlandsbolaget

By | 2024 Newsletter week 24 | No Comments

DFDS has agreed to sell the Oslo-Frederikshavn-Copenhagen cruise ferry route to Gotlandsbolaget, with the sale expected to be completed in October 2024.

The Oslo-Frederikshavn-Copenhagen route

  • 700,000 passengers annually
  • Limited freight
  • Two cruise ferries: Pearl Seaways and Crown Seaways
  • 800 employees
  • Generated DKK 0.9bn in revenue in 2023, representing 3% of DFDS Group’s total revenue.
  • A long-standing part of DFDS since its foundation in 1866 and an important public service in Denmark and Norway.

The sale includes the two ferries, terminal and port agreements, and 800 employees, with DFDS providing certain support services post-sale for a limited time. The sale price is around DKK 400m.

The deal comes about a year after Gotlandsbolaget bought Birka Stockholm (now Birka Gotland) . It is for the Swedish company yet another step in the strategic direction to expand in passenger shipping.

The two vessels will not be reflagged in connection with the transaction and no layoffs are planned as part of the transfer of the route.

Jun 14
2

New Intermodal Route for DFDS: Connecting Finland, the UK, and the Continent

By | 2024 Newsletter week 24 | No Comments

DFDS launched a new intermodal route that connects Finland, the UK, and the Continent.

In partnership with TX Logistik AG and Wasaline, this innovative route combines ferry and rail transport for a seamless connection. The journey begins in Vaasa, Finland, continues by ferry to Umeå, Sweden, proceeds by rail to Gothenburg, and then reaches Immingham, Ghent, or Zeebrugge via DFDS Ferry.

With two weekly round trips and reliable capacity year-round, DFDS’ expert team manages all segments and customs documentation, making this route perfect for those looking to reduce costs and greenhouse gas emissions.

Source: DFDS Freight Ferries and Logistics on Linkedin

Jun 14
2

DFDS May volumes: both freight and passenger continued to grow

By | 2024 Newsletter week 24 | No Comments

Ferry – freight:

  • Total volumes in May 2024 were 6.9% above 2023 and up 3.8% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023.
  • North Sea volumes were just below 2023 partly due to lower automotive volumes following temporary plant closures.
  • Mediterranean volumes were above 2023 driven by higher volumes on all routes.
  • Channel volumes were above 2023 and the Baltic Sea routes likewise continued to grow volumes.

For the last twelve months 2024-23, the total transported freight lane metres increased 1.6% to 40.0m from 39.3m in 2023-22. The increase was 0.3% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure.

Ferry – passenger:

  • The number of passengers in May 2024 was 49.2% above 2023 and up 17.0% adjusted for addition of the Strait of Gibraltar routes. The increase was driven mainly by higher Channel volumes.
  • The number of cars were 34.7% above 2023 and up 13.0% adjusted for Strait of Gibraltar.

For the last twelve months 2024-23, the total number of passengers increased 23.7% to 5.3m compared to 4.3m for 2023-22. The increase was 9.2% adjusted for Strait of Gibraltar.

May 10
2

DFDS Q1: ahead of expectations for the quarter driven by the Ferry Division

By | 2024 Newsletter week 19 | No Comments

Q1 2024

  • Revenue up 11% to DKK 7.0bn
  • EBIT reduced 45% to DKK 200m
  • Adjusted free cash flow of DKK -327m
  • CO2 ferry emission intensity lowered 3%

OUTLOOK 2024

  • EBIT of DKK 2.0-2.4bn
  • Revenue growth of 8-11%
  • Adjusted free cash flow of around DKK 1.5bn

Torben Carlsen, CEO:

  • 2024 is the first year of new strategy “Moving Together Towards 2030” focused on unlocking the value of DFDS’ expanded network through organic growth and transitioning to become a greener company.
  • Ekol Logistics: transaction is expected to close in Q4 2024.
  • FRS: the newly acquired ferry routes on the Strait of Gibraltar were off to a good start.
  • High priority: improving earnings for activities that currently face market headwinds such as the Baltic Sea and Channel ferry networks as well parts of Cold Chain logistics activities.
  • The short-term decarbonisation of ferry activities is on target, and in parallel DFDS is laying the groundwork to achieve its ambition of having six green ferries on the water by the end of 2030.
  • Market environment remains mixed: a higher than expected pick-up in ferry volumes across most of the network in Q1 while land transport network mostly faced flat or lower volumes.
  • Persistent overcapacity enhanced pricing pressure in certain market areas.
  • “While we are on track to deliver on our outlook, we continue to focus on improving profit through operational efficiencies across our network in parallel with the execution of our strategy.”

Click on cover to read more

Apr 12
1

DFDS adds EKOL to its portfolio

By | 2024 Newsletter week 15 | No Comments

DFDS acquires international transport network connecting Türkiye and Europe from Ekol Logistics, strengthening DFDS’ market position in the transport corridor between Türkiye and Europe. The transaction is expected to be completed in Q4 2024, pending EU merger control approval.

Source: DFDS Media

The financial outlook for 2024 has been revised:

  • The DFDS Group’s revenue is in 2024 now expected to increase by 8-11% compared to 2023 assuming the acquisition is closed at the beginning of Q4 2024. The previously expected revenue increase in 2024 was 5-8%.
  • The 2024 outlook for EBIT is unchanged DKK 2.0-2.4bn.
  • Due to an expected integration period of 2-3 years, the time for achieving the financial ambition of a ROIC of around 10% in 2026 is extended to 2027.
  • The above-mentioned acquisition is at closing expected to increase DFDS’ financial leverage, NIBD/EBITDA, by around 0.3x on a pro forma basis.
  • The financial ambition of reducing financial leverage to 2.5x in 2026 is unchanged as is the financial ambition of generating an annual Adjusted free cash flow of DKK 1.5bn in the period 2024-2026.

Photo: EKOL

Apr 12
1

DFDS and H2 Energy publish new hydrogen propulsion feasibility study

By | 2024 Newsletter week 15 | No Comments

During the past year, H2 Energy and DFDS have worked together on a project to analyse the feasibility of retrofitting large ferries with a hydrogen propulsion system. Now, the project has been finalized contributing with important knowledge for further analysis on the use of hydrogen as an alternative fuel for sea and road transport. The project was supported by the Danish Maritime Fund.

DFDS has recently launched its ‘Vessels of tomorrow’ programme, which will see two methanol, two electric and two ammonia vessels added to the company’s fleet over the next six years.

Although hydrogen is not included in the programme and DFDS is not planning to use hydrogen as a fuel in the very near future, DFDS will continue to contribute to the development of knowledge on hydrogen as part of the company’s ongoing analysis of possible net-zero scenarios for both vessels and road transport.

Read more here (DFDS) and here:

Feasibility Study Retrofit of an Existing RoRo Ferry with a Hydrogen-Electric Propulsion System Final Report

Photo: DFDS

Mar 15
1

DFDS February volumes

By | 2024 Newsletter week 11 | No Comments

Ferry – freight

  • Total volumes in February 2024 were 15.7% above 2023 and up 11.1% adjusted for the addition of Strait of Gibraltar routes in 2024 and closure of the Calais-Tilbury route in 2023.
  • The month’s high organic growth reflects to some extent a relatively low activity level in February 2023.
  • North Sea volumes were above 2023 driven mainly by an uplift in volumes between the UK and the Netherlands, Germany, and Denmark.
  • Mediterranean volumes were above 2023 as volumes picked up on all routes, especially between southern Türkiye and Italy.
  • Channel volumes were also in February above 2023 driven by the Dover Strait routes as well as higher volumes between Ireland and France.
  • Baltic Sea volumes also continued above 2023 despite reduction of capacity between Estonia and Sweden compared to 2023.
  • For the last twelve months 2024-23, the total transported freight lane metres decreased 4.9% to 39.2m from 41.3m in 2023-22. The decrease was 5.3% adjusted for the addition of Strait of Gibraltar routes and the Calais-Tilbury route closure.

Ferry – passenger:

  • The number of passengers in February 2024 were 69.9% above 2023 and up 16.0% adjusted for the addition of Strait of Gibraltar routes.
  • The adjusted increase was driven by more Channel passengers while the number of passengers on other routes were below 2023.
  • The number of cars were 51.3% above 2023 and up 7.2% adjusted for Strait of Gibraltar.
  • For the last twelve months 2024-23, the total number of passengers increased 19.9% to 4.8m compared to 4.0m for 2023-22. The increase was 13.4% adjusted for the addition of Strait of Gibraltar routes.
Feb 09
1

DFDS Q4 interim & full-year report: solid result for 2023

By | 2024 Newsletter week 6 | No Comments
  • EBITDA of DKK 5.0bn in line with Win23
  • Revenue up 2% to DKK 27.3bn
  • Ferry & Logistics network expanded
  • Adjusted free cash flow of DKK 2.8bn
  • Total dividend and share buyback of DKK 600m
  • EBIT 2024 outlook of DKK 2.0-2.4bn (2023: DKK 2.3bn)

Q4 2023

  • Challenging freight markets
  • EBITDA reduced 5% to DKK 1.0bn
  • Cash inflow of DKK 1.5bn from sale and leaseback of three ferries
  • CO2 ferry emission intensity lowered 2%

OUTLOOK 2024

  • EBIT of DKK 2.0-2.4bn
  • Revenue growth of 5-8%
  • Adjusted free cash flow of around DKK 1.5bn

“We’re pleased to deliver a solid result for 2023 despite challenging freight markets. Our ferry and logistics network has been expanded significantly, and in 2024 we will focus on unlocking value as we start executing on our new strategic and financial ambitions,” says Torben Carlsen, CEO.

Read the Q4 2023 interim and full-year report here.

Feb 09
1

DFDS January volumes: good start to the year

By | 2024 Newsletter week 6 | No Comments

Ferry – freight

  • Total volumes in January 2024 were 10.1% above 2023 and up 5.1% adjusted for the addition of Strait of Gibraltar routes and closure of the Calais-Tilbury route.
  • North Sea volumes were above 2023 partly due to the addition of further automotive volumes on one route.
  • Mediterranean volumes were below 2023 following a slow start as volumes picked up through the month.
  • Channel volumes were above 2023 driven by the Dover Strait routes.
  • Baltic Sea volumes were also above 2023 despite reduction of capacity between Estonia and Sweden compared to 2023.
  • For the last twelve months 2024-23, the total transported freight lane metres decreased 6.7% to 38.7m from 41.6m in 2023-22.

Ferry – passenger

  • The number of passengers in January 2024 were 87.4% above 2023 and up 2.7% adjusted for the addition of Strait of Gibraltar routes.
  • The adjusted increase was driven by more Channel passengers while the number of passengers on other routes were below 2023.
  • The number of cars were 58.4% above 2023 and on level with 2023 adjusted for Strait of Gibraltar.
  • For the last twelve months 2024-23, the total number of passengers increased 19.7% to 4.7m compared to 3.9m for 2023-22.