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Jan 13
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DFDS December volumes: strong Med versus other routes – strong passengers

By | 2023 Newsletter week 2 | No Comments

Ferry – freight:

  • Total volumes in December 2022 were 15.2% below 2021.
  • Volumes were 4.7% below 2021 adjusted for Channel that continues to be impacted by a considerable decrease in the total market and ferry overcapacity.
  • North Sea volumes were below last year, mostly due to a decline in activity between Scandinavia and the UK.
  • The growth momentum in the Mediterranean network continued, although a temporary suspension of sailings between Turkey and Spain reduced volumes.
  • Baltic Sea volumes remained negatively impacted by the war in Ukraine.
  • In 2022, the total transported freight lane metres decreased 2.9% to 41.7m from 43.0m in 2021. The decrease was 0.5% adjusted for Channel.

Ferry – passenger:

  • The number of passengers continued to recover and more than tripled to 307k equal to 83% of volumes in December 2019, the latest comparable month pre-Covid-19.
  • The number of cars equalled 81% of volumes in 2019.
  • In 2022, the total number of passengers was 3.8m compared to 0.9m in 2021 and 5.1m in 2019.
Dec 16
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DFDS November volumes: continued mixed picture for freight

By | 2022 Newsletter week 50 | No Comments

Ferry – freight:

Total volumes in November 2022 were 12.0% below 2021. Volumes were 3.7% below 2021 adjusted for Channel that is impacted by a considerable total market decrease and overcapacity.

North Sea volumes were lowered by a temporary reduction in ferry capacity and continued supply chain disruptions for some automotive customers. Mediterranean volumes kept on growing in November, while Baltic Sea volumes remained negatively impacted by the war in Ukraine.

For the last twelve months 2022-21, the total transported freight lane metres decreased 2.4% to 42.2m from 43.3m in 2021-20. The decrease was 0.5% adjusted for Channel.

Ferry – passenger:

The number of passengers continued to recover and increased 119% to 179k equal to 80% of volumes in November 2019, the latest comparable month pre-Covid-19. The number of cars equalled 89% of volumes in 2019.

For the last twelve months 2022-21, the total number of passengers was 3.5m compared to 0.9m in 2021-20 and 5.1m in 2019.

Oct 24
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Cross-Channel route Dieppe – Newhaven remains in the hands of DFDS

By | 2022 Newsletter week 42 | No Comments

The Seine-Maritime Department has confirmed DFDS, the current operator of the Dieppe Newhaven “Transmanche Ferries” route, as the operator until 2027.

Ferry company Brittany Ferries was the other candidate but was not selected.

Ropax ferries SEVEN SISTERS and COTE D’ALBATRE are owned by the region (Syndicat Mixte de Promotion de l’Activité Transmanche) and chartered to DFDS.

In the communication (see French press release on Twitter), a lot of emphasis is put on the values of the French flag against the social dumping on other ferry routes.

https://twitter.com/sebastienjumel/status/1582038633707892739/photo/1

Oct 13
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DFDS September Volumes: Freight continues growth in Mediterranean and North Sea

By | 2022 Newsletter week 41 | No Comments

Ferry – freight:

  • Due to lower volumes on the Dover Strait and on the Baltic Sea, total volumes in September 2022 were 7.5% below 2021. Freight volumes were above 2021 in all other regions.
  • North Sea volumes were above 2021 despite a negative impact from a strike in Felixstowe port as volumes to a large extent were diverted to the Immingham port instead.
  • Volumes in the Mediterranean network continued to grow driven by Turkish industrial production and exports.
  • Channel’s volumes were below 2021 following lower activity on the Dover Strait on account of a decrease in total market volumes and addition of capacity by Irish Ferries.
  • Channel’s year-to-date volumes were 0.3% above 2021.
  • Baltic Sea’s volumes were below 2021 due to the war in Ukraine, although to a lower extent than in previous months.
  • For the last twelve months 2022-21, the total transported freight lane metres decreased 1.5% to 43.1m from 43.8m in 2021-20.

Ferry – passenger

  • The number of passengers increased more than three times to 371k equal to 82% of volumes in September 2019, the latest comparable month pre-Covid-19.
  • The number of cars equalled 89% of volumes in 2019. Channel’s volumes were reduced by the addition of capacity by Irish Ferries.
  • For the last twelve months 2022-21, the total number of passengers was 3.3m compared to 0.8m in 2021-20 and 5.1m in 2019.
Sep 15
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DFDS August volumes: strong passenger demand, freight remains robust in most regions

By | 2022 Newsletter week 37 | No Comments

Ferry – freight:

  • Due to lower volumes in the Baltic Sea region and on the Dover Strait, total volumes in August 2022 were 5.2% below 2021.
  • Freight volumes were higher than in 2021 in all other regions.
  • North Sea volumes were above 2021 despite a negative impact from a strike in Felixstowe port.
  • Volumes in the Mediterranean network continued to grow, even though fires in the Trieste region held back volumes, driven by higher Turkish industrial production and exports.
  • Channel’s volumes were below 2021 following a decrease on the Dover Strait due to partly lower total market volumes, and partly addition of capacity by a third ferry operator.
  • Baltic Sea’s volumes were below 2021 due to the war in Ukraine.
  • For the last twelve months 2022-21, the total transported freight lane metres decreased 1.4% to 43.3m from 43.9m in 2021-20.

Ferry – passenger:

  • The number of passengers increased fourfold to 693k equal to 82% of volumes in August 2019, the latest comparable month pre-Covid-19.
  • The number of cars equalled 85% of volumes in 2019.
  • The Channel business unit’s volumes were reduced by addition of capacity by a third ferry operator.
  • For the last twelve months 2022-21, the total number of passengers was 3.0m compared to 0.7m in 2021-20 and 5.1m in 2019.
Sep 01
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DFDS receives BBB- investment grade credit rating from scope

By | 2022 Newsletter week 35 | No Comments

DFDS A/S has received a first-time issuer rating of BBB- with stable outlook from Scope Ratings GmbH (Scope). DFDS A/S’ senior unsecured debt was also rated BBB- in line with the issuer rating.

The rating corresponds to an investment grade credit rating. It has been obtained to support and enhance access to capital markets as well as to optimise the financing cost on future bond issuances.

Nordea advised DFDS A/S as Sole Rating Advisor in the credit rating process.

Aug 29
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Decisive step in the design of the world longest-range, zero-emission ferries

By | 2022 Newsletter week 34 | No Comments

Lloyd’s Register has granted Approval in Principle for the hydrogen-fuelled ferries for Torghatten Nord AS.

This is an important step towards starting the construction of the two ferries. The ferries shall enter operation in October 2025.

Powered by green hydrogen, the two revolutionary ferries will have zero emissions during the 3.5 hours journey between Bodø and Lofoten.

Source: Norwegian Ship Design
Aug 19
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DFDS Q2: Strong growth

By | 2022 Newsletter week 33 | No Comments
  • Q2 EBITDA up 63% to DKK 1.46bn
  • Higher earnings across all business units
  • Passengers coming back faster than expected
  • Extraordinary dividend of DKK 4.00 per share confirmed
  • Full-year EBITDA outlook raised to DKK 4.4-4.8bn on 18 July 2022

Group revenue increased 67% to DKK 7.0bn driven by the ongoing recovery in the number of ferry passengers and yields as well as price increases of freight ferry services and logistics solutions to cover rising energy and other costs. In addition, revenue was increased by the acquisitions of HSF Logistics Group in September 2021 and ICT Logistics in January 2022.

EBITDA increased 63% to DKK 1,459m. The total freight EBITDA for ferry and logistics activities before special items increased 25% to DKK 1,204m driven by higher earnings in all business units.

The total Q2 EBITDA for passenger activities in the Channel, Baltic Sea, and Passenger business units increased to DKK 255m from DKK -70m in 2021 as earnings improved in all three business units on the back of the ongoing recovery in passenger travel. The Q2 passenger EBITDA was 15% below 2019, the latest pre-Covid-19 year.

Outlook 2022

On 18 July 2022, the outlook for EBITDA before special items was raised to DKK 4.4-4.8bn following a stronger than expected recovery in passenger earnings as well as higher freight ferry volumes and earnings (previously DKK 3.9-4.4bn, 2021: DKK 3.4bn). The revenue growth outlook has been updated to around 40% (previously around 35%) due to higher revenue from both passenger and freight activities. The outlook is detailed on page 10 in the full report.

Read the Q2 2022 interim report here:
Aug 19
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DFDS July volume report: strong passenger recovery, drop in channel freight market

By | 2022 Newsletter week 33 | No Comments

Ferry – freight:

Total volumes in July 2022 were 6.2% below 2021. Activity was overall robust in freight markets except for parts of the Baltic Sea region and the Channel Dover Strait corridor.

North Sea volumes were overall below 2021 as UK routes were on level while routes between Sweden and the Continent were below 2021. The latter decrease was due to lower automotive and paper volumes as well as high activity for these segments last year in July. Volumes in the Mediterranean network continued to grow reflecting a high level of Turkish industrial production and exports.

Channel’s volumes were below 2021 following a decrease in total market volumes. Baltic Sea’s volumes were below 2021 due to the war in Ukraine. Volumes were mainly lower between Germany and Lithuania.

For the last twelve months 2022-21, the total transported freight lane metres decreased 0.6% to 43.6m from 43.9m in 2021-20.

Ferry – passenger:

The number of passengers increased fivefold to 639k equal to 90% of volumes in July 2019, the latest comparable month pre-Covid-19. Transport segments recovered faster than leisure segments. The number of cars equalled 92% of volumes in 2019.

For the last twelve months 2022-21, the total number of passengers was 2.5m compared to 0.8m in 2021-20 and 5.1m in 2019.

Aug 19
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DFDS: Niels Bach in memoriam

By | 2022 Newsletter week 33 | No Comments

Former DFDS group CEO Niels Bach passed away at the age of 89 years.

From 1985 to 1998 he headed and navigated DFDS through a very important time. Under his leadership the company managed to turn around from loss making, after a failed American Cruise ferry investment, to the beginning of the strong player in shipping and transport that we know of today.

Niels Bach also held many other top positions in the shipping industry, such as Chairman of the Danish Shipowners association, Port of Frederikshavn and Roblon A/S.

As board member he was very active in The Lauritzen holding, Port of Copenhagen, and Arkil Holding.

Niels Bach was a knight of the Danish order Dannebrog.