Fjord Line AS’ Ro-Pax OSLOFJORD made its last crossing between Sandefjord and Strömstad on October 24, which is earlier than expected. Reason: the successful ‘closing down sale’ crossings, which have seen the shops emptying faster than thought.
Stopping the shortsea route between Norway and Sweden on 29 October 2023 is a strategic move to concentrate operations around the sailing routes between Norway and Denmark.
Fjord Line wants:
- To further develop the shipping company around tourism products.
- To continue to be a central player for both passenger traffic and freight transport between Norway and the continent.
Ro-Pax OSLOFJORD is for sale.
The same route will still be operated by Color Line, with one vessel: COLOR HYBRID.
The other route vessel, COLOR VIKING, ceased operations on the Sandefjord – Strömstad route on 22 November 2022.
The route was very popular amongst Norwegians for shopping in Sweden.
Fjord Line has decided to rebuild the two LNG-ships STAVANGERFJORD and BERGENSFJORD from single-fuel LNG-engines to dual-fuel LNG/MGO-engines.
- Rebuilding of STAVANGERFJORD will start in January 2023 and will be finalized by the end of May 2023.
- BERGENSFJORD will be rebuilt during February to medio June 2023.
- The routes affected by the rebuilding are Bergen – Stavanger – Hirtshals, and Hirtshals – Langesund.
- The ships are being rebuilt at Fosen Yard and the engines will be delivered by Wärtsilä.
- Fjord Line has concluded a refinancing as part of the rebuilding of the two ships and due to the current energy crisis.
Fjord Line has now secured a financial platform until May 2022 in a comprehensive refinancing where both owners and lenders have contributed.
This is the second of a total of two refinancing operations, due to the pandemic. The refinancing has a total liquidity effect for Fjord Line of a total of NOK 950 million (in the period May 2020 to April 2022).
Preliminary figures 2020:
-55% Turnover NOK 729 million,
-90% Turnover in some periods with very limited travel activity
-NOK 140 million Result before taxes
Fjord Line has received NOK 198 million in cash support from the Norwegian Authorities for the period March to October.
For November / December, Fjord Line expects NOK 70 million.
Without the cash subsidy, the deficit for Fjord Line would probably have been more than NOK 400 million in 2020.
Fjord1: Smooth Operations And Revenue Growth As Expected
Q4
+20% Revenue NOK 826 million (driven by new contracts)
+67% EBITDA NOK 266 million
Investments NOK 103 million, net of NOK 31 million in vessel NOx compensation received in Q4
Full Year 2020
+14% Revenue NOK 3,118 million,
+27% EBITDA NOK 1,042 million
Total investments for the full year 2020 came to NOK 1,428 million
Revenue growth in line with expectations
New electric vessels are reducing operating costs and increasing EBITDA margins.
Electricity now accounting for approximately 40 per cent of the fuel mix.
Outlook
Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.
Strong contract portfolio has a value of NOK 24.1 billion through 2033.
The company expects more moderate revenue growth 2021, with cost improvements continuing to bolster operating margins.
Click on the picture to see the relevant file:
Friday February 26 saw the delivery of Fjord Line’s new high-speed catamaran, “FJORD FSTR”.
The 110m-long 31m-wide vessel was built by Austal in the Philippines.
Speed: 37 knots
Capacity: 410 vehicles and 1200 passengers
Time for crossing: 2 hours and 15 minutes between Kristiansand and Hirtshals
She still has to make the long journey from the Philippines to Norway.
The Board of Directors has appointed Brian Thorsted Hansen (53) as the new CEO of Fjord Line.
Thorsted Hansen has extensive business experience and has for the past 14 years worked at DFDS, formerly serving as Vice President and Head of Business Unit Group Passenger.
On 9 November, the Danish authorities introduced restrictions in the Northern part of Jutland, to reduce the spreading and development of a mink virus variant.
It has been decided that all mink herds in Denmark must be slaughtered.
Stena Line has decided to temporarily stop the passenger operation between Frederikshavn and Gothenburg between 9 November and 3 December.
The freight operation on the route will continue to keep the vital supply lines open between Denmark and Sweden.
Passengers are during this period referred to the route between Halmstad and Grenaa, which are not affected by the new restrictions and will continue to operate with both passengers and freight.
Color Line operates its SUPERSPEED 1 and 2 in a freight-only mode.
Fjord Line does not take passengers on its already reduced number of crossings.
With the ongoing pandemic and restrictions on international travel from and to Norway, both Color Line and Fjord Line decided to reduce capacity.
Color Line: Oslo – Kiel
- As from 4 November, cruise ferry COLOR MAGIC will sail in a customized timetable with freight and Norwegian cruise-only passengers (without disembarking in Kiel).
- Sister ship COLOR FANTASY will be laid up. This means that another 400 employees will be laid off.
Fjord Line: Bergen – Hirtshals and Hirtshals – Langesund
- As from 27 October Fjord Line will temporarily stop servicing the routes between Hirtshals, Denmark and two ports in Norway: Bergen and Langesund. (until end of year)
- Norway’s North Sea coast will still be operated by BERGENSFJORD between Stavanger and Hirtshals, in a freight-only mode.
- Ropax STAVANGERFJORD to be laid up.
FRS Baltic’s high-speed ferry SKÅNE JET made her commercial inaugural voyage on Thursday 17 September.
She sailed from the port of Sassnitz-Mukran to Ystad.
Initially the season will last until November 1. A restart is planned for April
Fjord Line’s former FJORD CAT was built by InCat in 1998. She offers the shortest (111km) and fastest (2h30m) crossing between Germany and Sweden.
