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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.

Aug 12
4

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]

Jun 03
2

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.

May 13
6

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’ financial review January-March 2021
Mar 04
11

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:

Sep 24
0

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.