SHORT NEWS

By | 2020 Newsletter week 26 | No Comments

Eckerö Reopens Buffet

Until 25 June Eckerö serves a summer menu and breakfast that have been modified for safety and hygienic reasons.

As of 26 June, the company returns to normal buffet dining, with a reduced number of customer seats.

Naviera Armas Trasmediterránea will reactivate the Ceuta – Algeciras – Ceuta line starting June 22

After the virus-forced suspension, Naviera Armas Trasmediterránea will restart the route to the Spanish Autonomous City of Ceuta with high-speed ropax catamaran CIUDAD DE CEUTA.

Godby Shipping: Newbuilding Project Delayed

In a message on its social media, Godby Shipping says that, “global lockdown has made the demand for roro vessels almost disappear.”

“At present only MIMER and LINK STAR are trading and it remains uncertain when and how all vessels will be back in traffic.”

“Before the downturn the office was manned to handle at least seven vessels and the first stage of a newbuilding project. The newbuilding project is now at least 2-3 years into the future and the focus is to survive.”

As from July 10, several of the office staff will leave the company.

Sjöfart.Ax: Open Battle For Power In Eckerö

By | 2020 Newsletter week 25 | No Comments

This article (in Swedish) summarises the shareholder uprising against the Mansén family in Rederi Ab Eckerö, lead by Businessman Johan Eklund.

The reason for the conflict is the corona crisis that caused bankers and the Ministry of Finance to demand a capital injection. Not because the equity is bad, the equity ratio is strong 50 percent. The Ministry of Finance and the banks want to see that there is also a determination among the owners to save the company.

Eklund is ready to guarantee a new share issue of EUR 10 million together with a handful of other shareholders, but only if the owner family Mansén waives the right to exercise their subscription rights.

First Half Year Results For Eckerö

By | 2019 Newsletter week 35 | No Comments

Some key data:

  • Same amount of passengers as last year: 1.5 million
  • Turnover of EUR 102.0 million (EUR 105.2 million)
  • Operating profit EUR -7.6 million (EUR 2.4 million)
  • Net debt EUR 65.8 million (EUR 43.6 million)

Outlook

  • The Swedish krona is expected to be weak during H2. The bunker price is expected to remain volatile. The profit for the year is expected to be significantly lower than in 2018, largely due to docking, ship investment and growing costs.

Growth On Gulf Of Finland Boosts Eckerö’s H1

By | 2018 Newsletter week 34 | No Comments

Eckerö Group can look back on a successful first six months for the three passenger operations (two ro-pax ferries and one Birka cruise vessel) and Eckerö Shipping’s two ro-ro vessels. They are employed in Northern Europe on fixed contracts for the paper industry. These contracts expire at the end of 2019.

Overview for the period 1.1 – 30.6.2018
+ Passengers 1.5 million (1.4 million)
+ Freight units on own lines 45,903 (41,000)
+ Turnover EUR 105.2 million (103.3 million)
+ Operating profit EUR 2.4 million (0.7 million)
+ Net debt EUR 43.6 million (60.8 million)

The clear majority of the increase is attributable to growth in the Gulf of Finland.

Challenges
– The krona’s value has been weaker, which had a negative impact on earnings.
– Higher bunker costs

A Strong, Normal Year For Eckerö

By | 2018 Newsletter Week 12&13 | No Comments

Ab Eckerö reached almost the same levels as in last year, which was a record year.
Operating profit was a strong €15.6 million (€19.0 million in 2016, which included €3.3 million from the sale of an asset).
Sales went down: € 233.2 million (€237.6 million)
Passengers went down because of the long docking of ro-pax ECKERÖ: 3.1 million pax
Freight 80,000 units, which is +18%
Challenges: the weakening of the Swedish krona and higher bunker prices.