Tag: H1 2024 | Ferry Shipping News

Ketchup? 

Baltic Sea’s first green freight corridor, which involves reducing emissions by 90% in the transport of goods, such as Felix ketchup, has been started between Sweden and Finland. The initiative is a collaboration between Orkla Suomi, Scandic Trans, and Viking Line, using biofuel-powered lorries and ships. This sustainable transport route from Fågelmara, Sweden, to Turku, Finland, significantly cuts carbon dioxide emissions from 1,512 kg to 102 kg per shipment, contributing to Orkla’s goal of halving greenhouse gas emissions by 2030. 

The project highlights the use of hydrotreated vegetable oil (HVO) biofuel for lorries and liquefied biogas (LBG) for the maritime leg, showcasing how the transport industry can adopt greener technologies. Viking Line’s vessels, Viking Glory and Viking Grace, which primarily run on liquefied natural gas (LNG), were designed to accommodate future fuels like biofuel, further promoting sustainable logistics. 

The initiative serves as a model for reducing the environmental footprint of supply chains across the Nordic region and has garnered widespread interest, demonstrating the potential for large-scale adoption of biofuel in the transport sector. 

Source and more information: Viking Line 

Summary of the financial report for Attica Group for the first half of 2024: 

Revenue and Earnings: 

• Group revenue increased by 29.9% to €317.2 million, compared to €244.3 million in the first half of 2023. 

• EBITDA dropped to €19.5 million, from €47.5 million in the previous year. 

• The Group reported a loss after taxes of €4.5 million, compared to earnings of €3.3 million in the first half of 2023. 

• This period marked the first full semester integrating ANEK Lines following their merger in December 2023. 

Operational Costs: 

• The Group faced a 9% increase in average fuel prices and additional costs related to emissions allowances under the EU Emissions Trading System. 

Asset Sales and Liquidity: 

• Attica Group divested its stake in Africa Morocco Links (AML) and sold related vessels, generating a total gain of €22.8 million. 

• Cash and cash equivalents increased to €157.8 million by June 30, 2024, from €103.4 million at the end of 2023. 

• The Group fully repaid a €175 million bond loan in July 2024. 

Fleet and Traffic Volumes: 

• The Group’s fleet consists of 42 vessels, with significant increases in passenger, private vehicle, and freight unit volumes compared to the first half of 2023. 

• Passenger traffic grew by 16.7%, private vehicles by 26.6%, and freight units by 27.3%. 

Investments and Environmental Initiatives: 

• The Group is investing in new methanol-ready and battery-ready vessels, with delivery expected in 2027. 

• Continued expansion into the hospitality sector, including a €14 million investment in a hotel complex on Naxos Island. 

Outlook: 

The operational integration of ANEK is expected to complete by the end of 2024. 

Source: Attica Group