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May 11
5

Q1 2022, a success for Finnlines

By | 2022 Newletter week 19 | No Comments

•  +27% Revenue EUR 157.0 (124.1)
•  Shipping and Sea Transport Services generated revenue amounting to EUR 150.6 (117.8) million, of which passenger related revenue was EUR 7.5 (5.1) million.
•  The revenue of Port Operations was EUR 12.1 (11.7) million.
•  Cargo units 199k (187k)
•  Cars 36k (44k)
•  Freight tonnes 375k (305k) (freight not possible to measure in units)
•  Pax 117k (101k)

Emanuele Grimaldi, President and CEO, in conjunction with the review:

•  Russia-Ukraine war could likely slowdown the Finnish economy.
•  We stopped vessels operating to and from Russia. The Russian traffic does not represent a meaningful share of our turnover, but it has complemented well our other lines.
• The volumes on each of our other lines we operate have increased in Q1 and positive cargo development is expected to continue.

Ship movements:

•  Finnlines has sold ropax FINNCLIPPER to Grimaldi Group in March 2022
•  Finnlines will purchase ropax VIZZAVONA (ex FINNEAGLE) from Grimaldi Group to replace FINNCLIPPER.
•  Chartered roro EUROCARGO SAVONA, returned to Grimaldi Group in mid-March 2022.
•  The first Eco-series vessel, FINNECO I, was delivered on 28 April 2022 at the Jinling Shipyard. T
•  FINNECO II and III will follow in May 2022, and the two Superstar ropaxes in 2023.

Finnlines Q1, 2022
Mar 03
5

Finnlines: revenues increased and result improved in 2021

By | 2022 Newsletter week 9 | No Comments
  • +20% Revenue EUR 579.9 (484.0) million
  • Shipping and Sea Transport Services generated revenue amounting to EUR 555.3 (461.8) million, of which passenger related revenue was EUR 47.8 (39.0) million
  • The revenue of Port Operations was EUR 47.0 (42.8) million. Cargo volumes are clearly above the 2020 level, and the number of passengers also increased compared to 2020
  • Revenue of Port Operations also increased due to the growth of cargo
  • +14% EBITDA EUR 160.3 (140.8) million
  • Result EUR 74.7 (69.7)
Mar 03
4

Finnlines’ RoPax FINNCLIPPER changes name and flag

By | 2022 Newsletter week 9 | No Comments

Finnlines’ FINNCLIPPER is the ship that replaces the EUROFERRY OLYMPIA on the Igoumenitsa – Brindisi line.

She left Malmö on February 19 and arrived in Piombino, Italy, a week later for the necessary changes. Initially, she was transferred to the Grimaldi-Euromed fleet and then she will be renamed IGOUMENITSA and raise the flag of Cyprus.

She is already advertised on the official Grimaldi website.

Nov 25
4

Finnlines getting ready for the introduction of green ships in 2022

By | 2021 Newsletter week 47 | No Comments

FINNECO III, the third and last hybrid roro vessel in a series, was launched in China Merchants Jinling Shipyard (Jiangsu) on 22 November 2021.

When entering the Finnlines traffic, the new vessels will reduce environmental impact of the fleet and improve energy efficiency. Lithium-ion battery systems will allow zero-emission port visits and low-emission two-stroke engines, emission abatement systems, solar panels and an innovative air lubrication system will cut emissions further.

The hybrid roro vessels will start in Finnlines’ Baltic, North Sea and Biscay traffic in 2022.

Roro ship particulars

  • Ice class: 1 A Super
  • Length, overall: 238.0m
  • Breadth, moulded: 34.0m
  • Gross tonnage: 60,515
  • Deadweight: 17,377
  • Lane metres: 5,800
Nov 11
4

Finnlines’ financial review January–September 2021: result on the upturn during Q3

By | 2021 Newsletter week 45 | No Comments

January–September 2021

+17% Revenue EUR 425.9 million (EUR 363.1 million in 2020).

+27% Result EUR 69.0 million (EUR 54.2 million)

EBITDA EUR 121.2 (107.2) million

Cargo units 583,000 (536,000 in 2020)

Cars 124,000 (102,000)

Tons of freight not possible to measure in units 1,041,000 (811,000)

Passengers and truck drivers 439,000 (390,000)

  • An upward trend continued during Q3 when cargo volumes increased nearly on all routes.
  • The automotive industry suffered from shortage of components and the summer stoppage was longer than anticipated. However, as the Finnlines fleet consists of vessels in different sizes, capacity could be moved from routes with temporarily declining demand to others where larger capacity was needed.
  • When travel restrictions were gradually eased, recreational travel recovered although passenger numbers remained far below the normal level.
  • To reach the ambitious goal of becoming carbon neutral, it may be necessary to modify existing ships with new tanks and engines so that they can run on new types of fuel. However, at current rates of production, zero-carbon fuels are not commercially available at the scale needed for the global fleet. Today, Finnlines concentrates on new battery technology, hydrodynamic design in vessels, air lubrication systems and solar panels on its newbuilds. Several existing ships will be equipped to use onshore power where available. Moreover, gradual transition to carbon-free and renewable fuels is being investigated.
  • The construction of three hybrid ro-ro vessels and two state-of-the-art ro-pax vessels is proceeding.
  • Energy efficiency is the best way to reduce the emissions and reach immediate results.
Sep 02
4

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.