SUNNYLVSFJORD delivered to Fjord1

By | 2024 Newsletter week 05 | No Comments

On 28 January Fjord1 took delivery of their latest newbuild from the Tersan Shipyard in Turkey, MF SUNNYLVSFJORD. The ferry can carry 248 passengers and 80 cars or 6 trucks and was designed by HavDesign. The ferry will be used on the Stranda – Liabygda, route.

Depending on the weather conditions on her delivery voyage, SUNNYLVSFJORD will arrive in Norway in three to four weeks.  A sistership from Tersan is due to follow soon, NORDDALSFJORD.  That vessel will see service on the Eidsdal – Linge route.

Photo: Fjord1

Fjord1 and the Norwegian Public Roads Administration have signed a contract for the operation of the national road ferry connection E39 Lavik-Oppedal.

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Fjord1 will operate the Lavik-Oppedal connection with four vessels from 2026 to 2034 (with the possibility of extension for up to three years).

Lavik – Oppedal is the ninth largest ferry connection in the country with 1.2 million car units in 2022.

The contract involves the development of fully automated solutions for all four ferries from 2027 onwards. The contract describes 23 different functions to be automated, and the sum of these functions means that the ferries will carry out route production by themselves. In addition, a control centre must be established on land, for monitoring and the possibility of remote control of the ferries.

Photo: Managing Director Fjord1, Dagfinn Neteland and director of ferries in the Norwegian Public Roads Administration, Dag Hole. Photo: Fjord1

DIF Capital Partners and EDF Invest to acquire Fjord1 from Vision Ridge Partners and Havila Holding

By | 2023 Newsletter week 44 | No Comments

Q3, 2023

  • 1,067,212 passengers = +16%
  • 44,795 cargo units = +16%
  • Sales EUR 69.4 million = +17%
  • Operating result (EBIT) totalled 14.0 million EUR (9.5 million EUR), maintaining levels consistent with the best third-quarter operating results ever achieved.
  • Result was 9.9 million EUR (5.2 million EUR), a historically favourable outcome for Q3.

First 9 months, 2023

  • 2,483,599 passengers = +24%
  • 131,558 cargo units = +10%
  • Sales EUR 171.5 million = +23%
  • Operating result totalled EUR 25.5 million EUR (5.0 million EUR), representing the best performance for January-September ever recorded.
  • Result was 11.2 million EUR (1.0 million EUR), which is among the best result for January-September ever.

Some key elements

  • Record-breaking volumes on all routes
  • Robust performance across all serviced routes
  • Escalating bunker prices
  • A weakening Swedish Krona


The fourth quarter commenced with volumes surpassing pre-pandemic levels. The continued high bunker prices, relatively elevated inflation, and the volatile Swedish krona continue to create uncertainty. Nevertheless, despite these factors of uncertainty, the company anticipates delivering a full-year result that is in line with its best years prior to the pandemic.

Photo: Ilves Valta

DIF Capital Partners and EDF Invest to acquire Fjord1 from Vision Ridge Partners and Havila Holding

By | 2023 Newsletter week 44 | No Comments

DIF Capital Partners (via its DIF Infrastructure VII fund), and EDF Invest (the investment arm of the EDF Group in real assets) have entered into a definitive agreement to acquire Fjord1 AS, the largest owner and operator of ferries in Norway.

The company will be acquired from Vision Ridge Partners, a global sustainable real assets investor, and Havila Holding, an investment company owned by the Sævik family in Norway.

Vision Ridge and Havila Holding have been investors in Fjord1 since 2019 and 2011, respectively. Terms of the transaction were not disclosed.

Following the close of the transaction, which is expected in early 2024, Fjord1 will continue to be led by CEO Dagfinn Neteland, supported by his current team of over 1,000 employees.

Under Vision Ridge’s and Havila Holding’s ownership, the proportion of vessels within Fjord1’s fleet that operate on electricity has increased by over 50%. As a result, Fjord1’s operating fleet today is approximately 60% electric – the highest proportion in Norway –  and comprises approximately half of all electric ferries currently operating in Norway, serving 44 routes across 16 contracts in the Norwegian market.

Photo: FRAM

Fjord1 starts testing electric ferries across the Tysfjord

By | 2022 Newsletter week 48 | No Comments

Fjord1 took over the operation of the national road ferries across the Tysfjord in Nordland today (1 December 2022), and will soon have the world’s longest electric ferry connection.

The new ferry contract between the Statens Vegvesen and Fjord1 covers both national road 827 between Drag and Kjøpsvik and E6 between Bognes and Skarberget.

The contract runs until 2032.

According to the contract, all the ordinary ferries across the Tysfjord must be operated with electricity. Now starts the test period between Drag and Kjøpsvik, which hosts the country’s – and the world’s – longest electric ferry connection.

Fjord1 put in three vessels, which have been rebuilt to be suitable for electric ferry operation.

Ferries LOTE and GLUTRA are already in place on the E6 between Bognes and Skarberget. However, the ferry quays are not adapted to electric operation yet, due to delays in the delivery of a new power line to Bognes. The ferry quays must be fully rebuilt and ready for electric operation by the autumn.

Thus, FANNEFJORD will be the first to launch electric operation across the Tysfjord when the vessel is completed in the new year. With a crossing of 14.8 kilometres, this is the world’s longest electric ferry connection.

In the meantime, the reserve ferry SULAFJORD will take the traffic between Drag and Kjøpsvik.

Fjord1 expects continued strong demand for its services

By | 2021 Newsletter week 47 | No Comments

Fjord1’s first nine months and third quarter 2021: Safe and stable operations


  • -4% Revenue, NOK 758 million. The reduction is attributable mainly to the phasing out of the Molde-Vestnes ferry contract.
  • -18% EBITDA, NOK 276 million
  • The EBITDA margin decline to 36% from 43% mainly reflects higher fuel costs and higher maintenance cost than in same quarter last year.
  • Investments amounted to NOK 289 million, mainly for purchase of a new vessel.

First nine months

  • -5.9% Revenue NOK 2,157 million
  • -14.5% EBITDA NOK 663 million
  • EBITDA-margin of 31% (34)
  • Investments were NOK 531 million for the first nine months, which represented 60% reduction from the same period in 2020, when investments in the newbuilding and electrification programme peaked.
  • Net interest-bearing debt (NIBD) stood at NOK 5,274 million as per 30 September. The company has lower investment commitments going forward and will use operating cash flows, proceeds from infrastructure sales, and NOx compensation for electric vessels to continue to reduce debt.


Fjord1 is confident that there will continue to be a strong demand for safe, environmentally friendly, and reliable transport in coastal regions in the future. Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.

Fjord1’s strong contract portfolio is worth NOK 21.8 billion through 2034, excluding options and index regulation, which offers a solid platform for profitable growth.

The company had net interest bearing debt of NOK 5.3 billion at the end of September 2021, down from NOK 5.8 billion at the end of September 2020. The company plans for a lower investment level going forward and expects the main part of the cash flow from operating activities and proceeds from the sale of infrastructure assets to be used to reduce interest-bearing debt further.

Click on the cover, access the download page of Fjord1, and download the report

Westcon Yards Wins Fjord1 Contract

By | 2021 Newsletter week 33 | No Comments
  • Cargo handling increased by 8.25 % in H1
  • Of the 100,000 trucks and trailers handled, more than half were unaccompanied for the first time.
  • The largest increases were recorded on the routes to Gothenburg and to Klaipeda. In total, 3.66 million tonnes of freight were handled in Kiel in the first half of the year.
  • The strongest part the Ostuferhafen with the forest products and logistics centre. (DFDS: 9 departures / week).
  • Restart in June of Kiel – Oslo route by Color Line.

Fjord1 Appoints Systems Integrator for Electric Vessel Conversions

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  • Three more vessels to be converted in zero-emission

Fjord1 has contracted Norwegian Electric Systems (NES) to act as system integrator and deliver power control, distribution and battery systems on three ferries set to be converted from gas and diesel propulsion to zero-emission battery operation.

NES will also deliver equipment and control systems for four battery charging stations.

After this, NES will have installed battery systems on board 21 zero-emission ferries.

Once converted, the three vessels will operate on the Drag – Kjøpsvik and Bognes – Skarberget ferry services in North Norway, from December 2022.

Photo, from left: SVP Sales at NES Stein Ruben Larsen, Sales manager at NES Martin Aasheim and Project and Technology Manager at Fjord1 ASA, Nils Kristian Berge.

Fjord1 returns to Tersan for Two More Ferries

By | 2021 Newsletter week 23 | No Comments

Tersan signed a contract with Norway’s Fjord1 ASA for the construction of two environmentally friendly vehicle and passenger ferries.

  • To be delivered in Q2, 2023
  • Designed by HAV Design firm
  • Length 84 metres / 248 people including crew / 80 cars / 6 trucks.
  • Fast charging of batteries during port call
  • Able to operate in all-electric mode, hybrid mode and diesel-electric mode
  • Routes: Stranda – Liabygda (NB1113) and Eidsdal – Linge (NB1114)
  • NB1113 and NB1114 will be the 8th and 9th ferry that Tersan will build for Fjord1

Fjord1 Increased EBITDA Margin In Q1

By | 2021 Newsletter week 21 | No Comments
  • -8% Revenue (NOK 691 million) because of the phasing out of one ferry contract and lower revenue in the Catering segment due to the pandemic.
  • +2% EBITDA (NOK 198 million)
  • EBITDA margin increasing to 29% from 26% The improvement in margin reflects lower operating costs for the electric vessels.
  • Investments amounted to NOK 124 million in the first quarter.
  • Net interest-bearing debt (NIBD) stood at NOK 5,400 million as of 31 March, a decline of NOK 103 million from the close of 2020.
  • Fjord1’s long-term contract portfolio, is worth NOK 21.2 billion


Fjord1 is confident that there will continue to be a strong demand for safe, environmentally-friendly and reliable transport in coastal regions in the future. Fjord1 assesses new tender opportunities in the Norwegian market on an ongoing basis, as well as opportunities outside of Norway.

The company expects more moderate revenue growth in 2021, with cost improvements continuing to support operating margins.