Oma Baatbyggeri delivered hybrid battery-electric FREY to Norled.

By | 2023 Newsletter week 4 | No Comments

Norled has been handed over the hybrid battery-electric vessel from Oma Baatbyggeri. The vessel will mainly run on batteries when it comes into service in Sogn next year.

FREY is one of three new low-emission vessels that will operate in the Florø basin from 1 May 2024. The vessel has a modern and universal design with a large saloon and large window surfaces. It has room for 72 passengers, as well as 7 passenger cars or a 40-tonne wagon train. The 30-metre-long vessel also has a hold and a crane.

The vessel is based on Oma‘s combi-catamaran concept, but unlike previous vessels, MS “Frey” is supplied with a hybrid battery-electric propulsion system. This means that the boat can run with zero emissions of CO2 and 100% electric operation in most of the routes that they will operate in Sogn.

In May, the sister vessel will be delivered. This is also to be included in the route in Sogn. These are two of three vessels being built for Sogn route package 2 that Norled won in 2021.

Before FREY goes into service in Florø, the vessel will go for a period on the Lysefjord route in Rogaland.

NORLED also signed a contract with OMA for a new ferry.

Source: Norled

Third Singapore-built ferry on its way to Norway

By | 2023 Newsletter week 2 | No Comments

Sembcorp Marine delivered LEIKANGER, the last of three fully battery-operated ferries for Norled. The vessel is on its way to Europe onboard a Rolldock heavy lift vessel.

Sisters HELLA and DRAGSVIK were delivered in March and July 2022.

The ferries run on lithium-ion batteries charged by hydro-electric energy power. The vessels can also operate in hybrid mode using combined battery-diesel power as an alternative.

The zero-emission vessels are based on a proprietary design developed by Sembcorp Marine’s wholly-owned subsidiary, LMG Marin AS.

Norled wins the contract for the Trondheimfjord

By | 2022 Newsletter week 42 | No Comments

On 14 October 2022, Norled AS won the contracts for:

  • Route 800 Trondheim – Kristiansund
  • Route 805 Trondheim – Brekstad
  • Route 810 Trondheim – Vanvikan

Contract lasts until 24 April 2030.

  • 2 new electric vessels for Trondheim – Kristiansund: aim to reduce CO2 emissions with 70%
  • 1 new electric vessel for Trondheim – Brekstad (route 805) – emission reduction is up to 80%.
  • During the start-up period, the connections will be operated by alternative vessels until the new boats are in place during 2024.
  • On the route Trondheim – Vanvikan (route 810), the vessel TIDEVIND will be converted into battery hybrid operation.

SHIFT will provide the new battery exchange solution.

CapMan Infra exits its stake in Norled to CBRE Investment Management

By | 2022 Newsletter week 32 | No Comments

CapMan Infra and CBRE Investment Management (CBRE IM), which each acquired a 50% stake in Norled AS in 2019, have now entered into an agreement for CBRE IM to acquire the entire stake managed by CapMan.

The exit is the first from the CapMan Nordic Infrastructure I fund.

CBRE IM is making the investment on behalf of a fund it sponsors as well as some of its separately managed accounts.

Norled’s current management team, led by CEO Heidi Wolden, will continue to run the day-to-day operations.

Norled wins high-speed ferry contract in Nordland

By | 2022 Newsletter week 17 | No Comments

Norled won the high-speed ferry contract for the routes between Bodø and Væran, as well as Bodø and Gildeskål, Norway.

Nordland Fylkeskommune awarded Norled a 10-year contract for operation of the high-speed routes starting in January 2024. There is also an option to operate the route between Bodø and Myken during the summer months.

Norled will operate two main vessels and a reserve vessel. The vessels will operate on electricity for 70% of the time.

The vessels, to be built by Brødrene Aa, will accommodate 130 passengers, as well as luggage, bicycles, and kayaks.

Oma Baatbyggeri to build three hybrid battery-electric ferries for Norled

By | 2022 Newsletter week 3 | No Comments

Oma Baatbyggeri has signed a contract with Norled AS for two hybrid battery-electric ferries. Soon, a contract with Florø Skyssbåt AS will be signed for another one.

All three ferries will operate route package 2 (RP2) in Sogn og Fjordane, Norway.

The RP2 ships are based on the well-known Combi-catamaran concept from Oma Baatbyggeri, which started in 2001 and can now be found along the entire long Norwegian coast.

The boats have the capacity to carry a truck of 20 tonnes, alternatively 7 passenger cars, in combination with 70 passengers.

The RP2 boats are delivered with hybrid battery-electric propulsion systems. This means a 100% electric operation in most of the routes they will operate.

Service speed is 22-25 knots, and the length of the vessel is 30 meters.

With this order, Oma Baatbyggeri ensures good employment until November 2023.

Norwegian contracts for Norled and Torghatten

By | 2021 Newsletter week 43 | No Comments

Norled has been awarded a contract for the operation of fast ferries in Kinn, Bremanger, Stad, Vik, Høyanger, Sogndal and Lærdal municipalities, from 2024 to 2036.

The contract has clear requirements related to a CO2 cut of at least 52%.

Norled wants to introduce battery technology on fast ferries.

Torghatten Nord has won a 10-year contract for an electric ferry service on the Bognes-Lødingen route with a design from Norwegian Ship Design.

Enova Gives NOK 38 Million to Hydrogen Projects

By | 2021 Newsletter week 3 | No Comments

Enova provides NOK 38 million for a hydrogen ferry and hydrogen production in Rogaland, Norway. This is Enova’s third award for hydrogen projects on ships in one month.

Norled’s ferry HIDLE is under construction. Next year it will sail on the Finnøy connection.

It will initially run on biodiesel, but Norled is considering rebuilding it to run on hydrogen.

Enova announced that they will support the ferry project with NOK 14.6 million, and the production and bunkering facility with NOK 24.2 million.

Rendering: Nordwest 3D and LMG Marin

Source: (in Norwegian)

Norled Q3 Report: All Agreed Operations Have Been Carried Out Despite the Corona Challenges

By | 2020 Newsletter week 50 | No Comments

Decrease in revenue is mainly due to changes in contract portfolio.

Revenue: -17% (Q3) and -14.6% (YTD)

Norled ended 5 contracts at year end 2019 and started 4 new contracts 1 January 2020.

  • Indre Sogn (ferries)
  • Sunnmøre (ferries)
  • Rutepakke3 Hordaland (ferries)
  • Troms (expressboats)

Increased EBITDA profitability is mainly due to changes in contract portfolio and net gain on sale of fixed assets. EBITDA: 12% (Q3) and 7.2% (YTD).

EBITDA profitability is affected by the Corona epidemic, mainly with reduced tourist related revenue in the expressboat segment.

Start of contracts on 1 January 2021:

  • Ryfylkeferjenin, Rogaland county (until 31 Dec 32)
  • Lyngensambandet, with the routes Lyngseidet-Olderdalenand Svendsby-Breivikeidetin Troms and Finnmarkcounty (until 30 April 31)

Click image for report

Norled H1: Increased EBITDA Profitability

By | 2020 Newsletter week 36 | No Comments

Norled operates ferries, fast ferries and tourist boats in Norway.

Especially the tourist boats and the onboard kiosks were affected by Covid-19.

Financial figures H1, 2020:

  • Revenue NOK 987 million (1,136)
  • Operation costs NOK 770 million (926)
  • EBITDA NOK 217 million (210)
  • EBIT NOK 100 million (114)
  • Net Income NOK 34 million (68)

Decrease in revenue is mainly due to changes in contract portfolio.

Norled ended 5 contracts at year end 2019, and started 4 new contracts 1. January 2020.

Increased EBITDA profitability is mainly due to changes in contract portfolio. EBITDA profitability in Q2 is affected by the COVID19 epidemic, mainly with reduced traffic revenue. Especially the expressboat segments related to tourist routes and charter activity have been negatively affected by the COVID-19.

As a result of COVID-19, there is a risk of delays in the construction and delivery of new vessels. The company is constantly working to optimize a plan with temporary vessels on the routes where there may be delays in delivery

Norled is owned by the Nordic infrastructure fund CapMan Infra and the Canadian company CBRE Caledon Capital Management.