Finnlines’ New RoRo Vessels Celebrate Launching and Keel Laying

By | 2021 Newsletter week 35 | No Comments
  • Finnlines’ Newbuilding Programme proceeds as planned.
  • 30 August 2021: launch of second hybrid ro-ro vessel
  • 31 August 2021: keel laying ceremony for the third vessel
  • The series of three ro-ro vessels are being built at the Chinese Jinling shipyard located in Nanjing.
  • Better service for truck drivers: gym and sauna, a dining and recreation room and a laundry for drivers to use. Single cabins.
  • 40% more cargo capacity (5,800 lane metres)
  • The vessels will be fitted with state-of-the-art engines with emission abatement technology, an air lubrication system, lithium-ion batteries and solar panels.
  • Ice class 1A Super

FINNECO I: sea trials in September, in service end of 2021.

FINNECO II and III in 2022. All three vessels will sail under the Finnish flag.

Changes in Finnlines’ Management: Marco Palmu Appointed as Head of Passenger Services

By | 2021 Newsletter week 32 | No Comments

Marco Palmu has been appointed Head of Passenger Services as of 1 September 2021. He will join  Finnlines Group’s Board of Management and will report to Emanuele Grimaldi, President and CEO, Finnlines Plc.

Marco Palmu joins Finnlines from Tallink Silja Oy, where he has most recently worked as Commercial Director. He has an extensive background from shipping and passenger business. [LinkedIn]

Finnlines: Construction Of The First New Superstar RoPax Has Begun

By | 2021 Newsletter week 22 | No Comments

Construction of the first of the two new Superstar ro-pax vessels has begun. The traditional steel cutting ceremony of FINNSIRIUS was held at the China Merchants Jinling Shipyard (Weihai) in China on 1 June 2021.

The environmentally friendly ropax vessels will bring innovative solutions to Finnlines’ services and will enhance the customer experience to a new level.

With space for 1,100 passengers and a deck capacity of 5,100 lane metres, the 235-metre long Superstar ropax vessels will be Finnlines’ largest passenger-freight vessels.

Finnlines: Steady Q1 2021, Regardless Of The Covid-19’s Impact On Revenue

By | 2021 Newsletter week 19 | No Comments
  • -5% Revenue EUR 124.1 (130.5) million, due to the pandemic.
  • Passenger revenue was affected by travel restrictions on Finland’s border.
  • In addition, low bunker surcharges have also been affecting the turnover.
  • Efficient operations resulted in a positive EBITDA of EUR 30.3 (38.2) million.
  • 187,000 cargo units, 44,000 cars and 101,000 passengers.
  • Finnlines is clearly an important service provider to Finland’s economy and that carriers, a lifeline for both the private and the public sector in the country.
  • The EUR 500 million Newbuilding programme is well under way and currently all three new ultra-green ro ro vessels are in construction. The first of them, FINNECO I, is scheduled to start in traffic at the end of the year or at the very beginning of 2022.
  • The Company has also strengthened its position in the Vuosaari Harbour in Helsinki by buying a major real estate in the port, which serves as its Head office.

Finnlines Proud With Positive Year-Result Despite Crisis And Distorted Market

By | 2021 Newsletter week 9 | No Comments
  • Turnover €0m (574.8), a difference of €91m or -16%
  • €91 million = reduction of €21m pax + €70m freight
  • €70 million = €47m reduction of bunker surcharges asked from clients during pandemic
  • EBITDA €8m (169.8) or a decrease of 17%.

Cost saving plan:

At the end of Q1 Finnlines reacted promptly to the first signs of the widespread economic fallout of the ongoing crisis and initiated a cost saving plan to mitigate the Covid-19 impact.

“As a result, we maintained a feasible profitability throughout the latter part of the year and the result for the reporting period was EUR 69.7 (98.3) million, which we are very proud of,” says Emanuele Grimaldi, President and CEO.

Five new vessels / First expected in November.

No financial aid: “Regardless of our pivotal supply role, green and sustainable leadership and despite Finnlines’ turnover and profitability have also declined due to economic slowdown, we were not made part of any of the EUR 70 million maritime public financial aid distributed to other shipping companies during the Covid-19 pandemic,” declares Mr Grimaldi.

“On the contrary, we found ourselves to compete in a very tough period, with a lot of sustainable investments ongoing, against competitors operating on the same routes, with same type of services, but without enjoying at all their subsidies. This of course cause to Finnlines harm and difficulties. Furthermore, this has proved to be inequal, distortive of market rules and against the EU market laws. We therefore still dare to suggest a more equal, horizontal, green and proportional distribution of public aids.”

Click on the picture to see the relevant file:

The Construction of Finnlines’ Second Hybrid RoRo Started

By | 2020 Newsletter week 39 | No Comments

The construction of Finnlines’ second new hybrid ro-ro vessel –FINNECO II– started at the Chinese Nanjing Jinling shipyard. The first steel plates were cut in the traditional steel cutting ceremony on 16 September 2020.

Finnlines’ ongoing EUR 500 million newbuilding program, which includes three green hybrid ro-ro vessels as well as two eco-friendly Superstar ro-pax vessels, will further increase Finnlines’ energy efficiency.

In addition to lithium-ion battery banks, which enable ‘zero emissions in port’, they will be equipped with several advanced technologies to save energy and thus reduce emissions further.

The ro-ro vessels are expected to be delivered during 2021–2022 and the Superstar ro-pax vessels are set to start in traffic in 2023.

FERRY FINANCE

By | 2020 Newsletter week 32 | No Comments

Finnlines: Essential Lifeline for Finland – Challenging Q2

 H1 2020

  • -20% Revenue EUR 236.4 million (295.5)
  • -20% EBITDA EUR 66.4 million (83.5)
  • -32% Result EUR 31.7 million (46.7)

Q2 2020

  • -33% Revenue EUR 105.8 million (157.9)
  • -43% EBITDA EUR 28.2 million (49.4)
  • -64% Result EUR million 11.0 (30.4)

Especially Q2 was extremely challenging, with almost no passenger traffic and the slowdown in global trade caused by the global pandemic.

Finnline is essential for the supply of island-like Finland. The company says that it transports more than one third of the roughly one million trucks moving over the three main sea bridges, Finland–Estonia, Finland–Sweden and Finland–Germany, which are connecting Finland to the rest of Europe.

During H1, Finnlines operated on average 19 vessels in its own traffic. The cargo volumes totalled approximately 357k (386k) cargo units, 60k (88k) cars (not including passengers’ cars) and 522k (581k) tons of freight not possible to measure in units.

In addition, some 227k (310k) private and commercial passengers were transported.

Finnlines has been following closely all the emergency measures to shipping companies, and aims for fair conditions of competition.

SHORT NEWS

By | 2020 Newsletter week 24 | No Comments

Stena Line Adds Ships Again On North Sea Routes

Due to a steady recovery in freight volumes on the North Sea during the last weeks, roro ships HATCHE and STENA FORERUNNER will return to commercial service on the Stena Line freight routes Europoort – Killingholme and Europoort – Harwich, respectively.

As of 15 June 2020, Stena Line will be back to having 8 ships operating on its 4 routes on the North Sea.

The Construction Of Finnlines’ Newest Vessel To Start

By | 2020 Newsletter week 24 | No Comments

The construction of Finnlines’ newest environmentally friendly ro-ro vessel was started on 8 June 2020, with the steel cutting in the Chinese Nanjing Jinling shipyard.

The first ro-ro vessel is expected to start operation as early as next year, and the other two in 2022.

In addition to this, Finnlines has also ordered two giant Superstar vessels, which will be pioneer in honouring green values. The total investment including five new vessels is EUR 500 million.

The first steel plates are being cut in the traditional steel cutting ceremony.

In the picture Finnlines’ representative Site Manager Mr Davor Radic.