Robin des Bois Q1 Shipbreaking Report

By | 2022 Newsletter week 27 | No Comments

NGO Robin des Bois publishes quarterly information and analysis bulletins about shipbreaking.

2022, Q1 has now been published in English.

Ferry  (page 19-27)

  • 9 demolitions
  • Average age, 42 years.
  • 5 were built by European or Norwegian yards
  • 3 are bound for Turkish scrapyards, 2 for the Indian subcontinent.
  • Europe exports, so does Canada. The Canadian ferry NORDIK EXPRESS should be scrapped in Santo Domingo. The Turkish PIRI REIS UNIVESITESI was beached in Alang.

DFDS Q1, 2022: Growth, growth, growth…

By | 2022 Newletter week 19 | No Comments

Group revenue increased 52% to DKK 5.7bn.

  • Ferry Division’s revenue was increased by higher freight and passenger activity as well as a rise in bunker surcharge revenue.
  • Logistics Division’s revenue was increased by the acquisition of HSF Logistics Group in September 2021 and ICT Logistics in January 2022 as well as higher activity and yield increases for the existing activities.

EBITDA increased 9% to DKK 822m.

  • The total freight EBITDA for ferry and logistics activities before special items increased 10% to DKK 926m driven mainly by growth in the Mediterranean business unit, improved logistics performance, and the acquisition of HSF Logistics Group.
  • The war in Ukraine reduced Baltic Sea’s freight volumes and the result.
  • The total EBITDA for passenger activities in the Baltic Sea, Channel, and Passenger business units decreased 12% to DKK -104m.
  • Earnings were reduced by the re-opening of Oslo-Frederikshavn-Copenhagen in a low season market environment with passenger numbers still recovering from Covid-19. This offset higher Channel earnings as all ferries have continuously operated in this market.

Outlook 2022
The revenue growth outlook is increased to around 30% compared to 2021 due to significantly higher revenue from oil surcharges as well as higher passenger revenue (previously 23-27%).
EBITDA before special items is unchanged DKK 3.9-4.4bn (2021: DKK 3.4bn).
The outlook is detailed on page 10 in the full report.

Q1 2022, a success for Finnlines

By | 2022 Newletter week 19 | No Comments

•  +27% Revenue EUR 157.0 (124.1)
•  Shipping and Sea Transport Services generated revenue amounting to EUR 150.6 (117.8) million, of which passenger related revenue was EUR 7.5 (5.1) million.
•  The revenue of Port Operations was EUR 12.1 (11.7) million.
•  Cargo units 199k (187k)
•  Cars 36k (44k)
•  Freight tonnes 375k (305k) (freight not possible to measure in units)
•  Pax 117k (101k)

Emanuele Grimaldi, President and CEO, in conjunction with the review:

•  Russia-Ukraine war could likely slowdown the Finnish economy.
•  We stopped vessels operating to and from Russia. The Russian traffic does not represent a meaningful share of our turnover, but it has complemented well our other lines.
• The volumes on each of our other lines we operate have increased in Q1 and positive cargo development is expected to continue.

Ship movements:

•  Finnlines has sold ropax FINNCLIPPER to Grimaldi Group in March 2022
•  Finnlines will purchase ropax VIZZAVONA (ex FINNEAGLE) from Grimaldi Group to replace FINNCLIPPER.
•  Chartered roro EUROCARGO SAVONA, returned to Grimaldi Group in mid-March 2022.
•  The first Eco-series vessel, FINNECO I, was delivered on 28 April 2022 at the Jinling Shipyard. T
•  FINNECO II and III will follow in May 2022, and the two Superstar ropaxes in 2023.

Strong first quarter for Ports of Stockholm

By | 2022 Newsletter week 18 | No Comments

Q1 shows growth in all business segments. RoRo, containers and bulk goods are all increasing, and passenger numbers are continuing to rise rapidly.

+4% RoRo freight tons

  • New roro route 1: Hansa Destinations, Nynäshamn–Rostock
  • New roro route 2: Stena Line, Stockholm Norvik–Hanko
  • Introduction of Stena’s second lengthened ropax on Stockholms Norvik–Ventspils

+243% Ferry Passengers = 800,000 in Q1

Photo: Ports of Stockholm/Per-Erik Adamsson

Viking Line Q1: Gradual normalization despite a challenging environment

By | 2022 Newsletter week 17 | No Comments

January–March 2022 (compared to January–March 2021)(in EUR)

  • Sales amounted to 58.8 million (24.6 million)
  • Other operating revenue was 6.0 million (10.3 million)
  • Operating income totalled -18.1 million (-7.7 million)
  • Net financial items were -2.2 million (-1.3 million).
  • Income before taxes amounted to -20.3 million (-8.9 million)
  • Income after taxes totalled -16.2 million (-7.2 million)
  • Viking Line is not providing any outlook, above all, in view of the geopolitical situation, it is still too soon to quantify the impact on operating income for 2022, which is the same conclusion at the time the previous earnings report was published.