Finnlines Wants Piece of Emergency Cake

By | 2020 Newsletter week 23 | No Comments

The National Emergency Supply Agency (NESA) in Finland is prepared to spend EUR 45 million on financial support to ensure the transport of vital cargo from Finland to Sweden, Baltic countries and Continental Europe.

Finnlines welcomes this decision and published a press release to draw attention on the importance of the company as a lifeline maritime connection.

NESA has already granted financial support to four out of seven commercial operators securing the main maritime bridges for rubber-tyred vehicles. The first support actions taken by NESA where addressed to ropax operators whose operations are not viable without revenue from recreational travellers. For more freight-oriented operators, the threat of serious disturbances was less imminent. However, the corona crisis is having a strong impact in Finland’s economy and the value added of the transport sector is estimated to fall by around 20%, to which Finnlines is also exposed to.

After several weeks of negotiations and encouraged by NESA, Finnlines has also filed an application under this same emergency financial support programme.

Finnlines is still waiting for NESA’s emergency financial support decision but feels confident in receiving support based on Finnlines’ pivotal role in securing Finland’s security of supply.

A member of the Grimaldi family, Finnlines repeats its mantra: “Companies that operate in the same sector and compete with each other should have uniform and equal opportunities to apply for and receive financial aid granted by the State and authorities. Non-discrimination and ensuring fair conditions of competition are the basic principles of EU State aid rules.”

FERRY FINANCE

By | 2020 Newsletter week 20 | No Comments

“Financial Aid Ok, But In Accordance With Existing Rules,” Says Emanuel Grimaldi

Q1: Finnlines Group’s revenue was almost on previous year’s level

  • Revenue EUR 130.5 million (-5%)
  • Result EUR 20.7 million (+28%)
  • Cargo units 186,000
  • Cars (not including passengers’ cars) 41,000
  • Passengers 121,000

“Operationally the quarter ended in difficult conditions, with a strong impact on passenger transport and a slowed down growth in business globally. Finnlines is not immune to this slowdown in global trade and we also need to mitigate the Covid-19 impact. Thus, we have taken steps to lower costs and have implemented cost-saving plan,” said CEO Mr Grimaldi in a news release.

“Governments across Europe have promised various emergency measures to shipping companies. This can lead to very unfair competition. Any financial aid has to be provided in accordance with existing rules, and that individual companies should not be singled out for support at the expense of more robust rivals. Any aid, either from governmental or from security of supply agencies, should be available to all shipping companies, regardless of their financial strength, in order to avoid distorting the marketplace and risking antitrust complaints. If the state intervenes, it has to intervene in a such way that it does not create unfair competition.”

Finnlines

By | 2020 Newsletter week 12 | No Comments

Finland will start to restrict travelling to Finland as from 19 March 2020 midnight. These limitations remain in force until 13 April 2020.

Finnlines will do their best to ensure that people have the possibility to get home and undertake essential travel:

Finnish citizens and people living in Finland can return to Finland. Note, that the travellers should stay at their homes 14 days after returning home.

Foreign travellers in Finland can return to their home countries.

EU citizens are allowed to return via Finland to their home countries.

Cargo transportation will continue as usual and drivers will be transported normally since essential traveling for work is allowed.

More on Finnlines News.

FERRY SHIPPING

By | 2020 Newsletter week 1 & 2 | No Comments

Finnlines Release Renderings of New Superstar Vessels

At the end of last year Finnlines announced that it signed an order for two Superstar ro-pax vessels from China Merchants Jinling Shipyard (Weihai). Renderings from Knud E. Hansen have now been released.

They will be larger than the existing Star class vessels and will be Finnlines’ flagships both in terms of size and technology. With a length of about 230 metres, their loading capacity will be for 5,100 lane metres for rolling freight and around 1,100 passengers.

The press release says that “the vessels will have the highest Finnish / Swedish ice class and will be built with the top technical and environmental views in mind, while being pioneers in honouring green values.”

The hybrid newbuilds will operate on the Kapellskär – Långnäs – Naantali route. A large duty-free supermarket will be the center of the ship.

They are expected to be delivered by 2023.

TOP STORY

By | 2019 Newsletter week 51 | No Comments

Grimaldi Chose Avic Weihai for Two New Ferries for Finnlines

Grimaldi Group has chosen the Chinese shipyard Avic Weihai for the construction a pair of Superstar Class ferries due to be operated by Finnlines.

  • Contract price roughly USD 135 million each.
  • Delivery is scheduled as from 2023.
  • These new ice-class ferries are an evolution of the Fincantieri-built Star-class vessels.
  • Capacity 5,000 lane metres and 350 cabins.
  • They will have the biggest battery pack ever mounted on a ship.

This is the first time the Grimaldi Group will build ropax ferries in Asia. The other shortlisted yards were Hyundai Mipo, Jinling and Guangzhou Shipyard International in China.

All the European shipyards has been left out since the price were in some cases twice as high.

Hyundai Mipo, China Merchants Group And GSI Shortlisted For Finnlines’ New Order

By | 2019 Newsletter week 41 | No Comments

For the first time in its history, the Grimaldi Group will build ropax ferries in Asia. The order for the new ‘Super Star’ class for Finnlines seems to be very close, according to what Emanuele Grimaldi stated at the EuroMed Convention. “We are now discussing with only three shipyards. The deal can be done in one month.”

The new ice-class vessels are an evolution of the Fincantieri-built Star-Class vessels. They will have a capacity of some 5,000 lanemetres and 350 cabins. They will also have the biggest battery pack ever mounted on a ship.

Some sources revealed to Ferry Shipping News that the builders shortlisted are Hyundai Mipo in South-Korea, Avic, Jinling (both part of the China Merchants group) and Guangzhou Shipyard International in China. All the European shipyards has been left out since the price were in some cases twice as high. Chinese yards seem to have an advantage over the South Korean competitor.

In the near future Grimaldi Group will also order a new series of ‘Supercruise vessels’ for the Mediterranean network, designed “to halve consumption while doubling capacity”.

Knud E. Hansen To Design The New Finnlines Ro-Ro Ships

By | 2019 Newsletter week 18 | No Comments

Knud E. Hansen has signed a contract with Nanjing Jinling Shipyard, China, for developing the basic design of three ro-ro vessels, based on the Finnlines / Grimaldi / Knud E. Hansen design.

The vessels are based on the same hull as the Grimaldi Green 5th Generation vessels. They are sister vessels, but customized to the needs of Finnlines with regards to heavy cargo and operation in the Baltic Sea.

Some details:

  • delivery as from 2021
  • Finnish/Swedish ice class, 1A Super
  • 5,800 lane metre
  • Length over all: 238m
  • The vessels will use electricity in port, with large lithium batteries. These batteries will be recharged during navigation, through shaft generators employing a peak shaving system.
  • Air lubrication system

Finnlines Grows With Its Customers

By | 2019 Newsletter week 10 | No Comments

Finnlines Plc published its financial review for the period January–December 2018. The Grimaldi Group company continues to perform well, with the result increasing by EUR 12.5 million to EUR 95.1 million.

Revenue also increased by 9.9% to EUR 589.4 million.

During Q4, the cargo volumes remained strong, increasing the revenue compared to last year from EUR 131.8 million to EUR 141.5 million. The result for October–December was EUR 19.7 (14.8) million.

In a statement, CEO Emanuele Grimaldi confirmed the success of the strategy:

  • Growing together with the customers
  • Investments in sustainable development
  • Deploy larger vessels in both the ro-pax and ro-ro segments, creating economies of scale
  • Route and vessel optimisation

What does the future bring?

  • In April 2018, Finnlines ordered three new green 5,800-lane-metre ro-ro vessels.
  • Finnlines is currently developing a new ro-pax class concept, the “Superstar” ro-pax