Study Says Fixed Link between Denmark and Germany will Cost Danish Taxpayer Dearly

By | 2020 Newsletter week 39 | No Comments

At least EUR 400 million, in the worst case up to EUR 4.3 billion: these are the losses expected by the economic analysts from KRAKA Advisory in relation to the Fehmarnbelt Fixed Link for the Kingdom of Denmark

Ferry operator Scandlines asked KRAKA Advisory to examine the financial stability of the plans for the fixed link between Denmark and Germany from the perspective of the state treasury.

The main reason for the losses is the far too optimistic traffic forecasts by the planning company Femern A / S, which have not been significantly updated since 2002. A realistic assumption would also extend the repayment period for the project to more than 50 years. KRAKA Advisory therefore calls for the current planning to be stopped in order to put the project on an economically more stable footing.

“What should be scary for Danish taxpayers is, for us, a question of corporate future planning,” says Søren Poulsgaard Jensen, CEO Scandlines.

“The perspective of a state, tax-financed competitor does not frighten us. But if this is deficient, national and international competition watchdogs have to look very carefully in order to guarantee fair competition – for us and for all other private companies in traffic between Germany and Scandinavia.”

Finland Lifts Travel Restrictions

By | 2020 Newsletter week 38 | No Comments

Last week Finland has announced the lifting of travel restrictions for a number of countries, including Sweden and Germany. The restrictions are based on a new limit of 25 infections per 100,000 inhabitants. Before it was 8.

These first changes to travel restrictions will take effect on September 19.

Ferry companies, unions and other stakeholders welcome the decision but demand predictability in government decisions and communications.

Scandlines: The Blue Border Between Germany And Denmark Reopens

By | 2020 Newsletter week 24 | No Comments

After 13 weeks during which the borders have only been open for transportation of goods or persons with a worthy purpose to cross the border, all borders between Germany and Denmark reopen on June 15 – and that of course includes the blue border, where Scandlines operates.

Scandlines’ shops on board and BorderShop Puttgarden will also open on June 15, whereas BorderShop Rostock has been open since June 2. It is of course possible to get something to eat and drink on board all ferries, where two out of three options are open.

”Although we have been able to maintain part of our freight traffic, the lockdown will have a considerable impact on our bottom line. We expect that the remainder of 2020 will be affected by the crisis and therefore we work hard to alleviate the effect of keeping the operation running with much lower income for several months,” says Søren Poulsgaard Jensen.

BREAKING NEWS

By | 2020 Newsletter week 9 | No Comments

The New TT-Line Ferries Will Be Built in Finland instead of Germany

From ‘down under’ Ferry Shipping News received the information that the contract between Flensburger Schiffbau-Gesellschaft mbH & Co. KG. (FSG) and TT-Line Tasmania has been cancelled.

Two ferries had been ordered for Tasmania’s Bass Strait. However, several projects at FSG are delayed, such as Irish Ferries’ and Brittany Ferries’ new ropax units.

Now FSG and TT-Line mutually agreed to cancel the contract.

TT-Line signed a Memorandum of Understanding with Rauma Marine Constructions in Finland. The new delivery dates are 2022/2023.

The Tasmanian minister of transport said that “the majority of the work undertaken to date on the new vessels by TT-Line and their expert consultants is transferrable and can be utilised in the detailed design phase and contract negotiations with the new shipbuilder.”

In 2019, the Global investment company Tennor Holding B.V. became the sole owner of the German shipyard FSG after the acquisition of all remaining shares in FSG from the former owners, Siem Europe Sarl.