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Tag: Q1 2025 | Ferry Shipping News

Aug 01
3

2024 Transport Trends Show Mixed Picture in Corsica

By | 2025 Newsletter week 31 | No Comments

Transport activity in Corsica in 2024 showed diverging trends across sectors, according to the  annual figures published recently.

Maritime passenger traffic, excluding cruise passengers, remained volatile throughout the year, with notable growth during the high summer season. August (+6.7%) and December (+2.6%) recorded increases year-on-year, while some shoulder months, such as September (–0.2%) and November (0.2%), were largely stable. Total maritime passenger flows still performed better than air, which saw several months of decline, particularly September (–0.3%) and October (–10.9%).

Freight transport by sea saw sharper fluctuations. Tonnage of goods (excluding tare) dropped heavily in June (–26.6%) and October (–12.4%) but rebounded in December (+16.7%), reflecting the ongoing instability in cargo demand.

Air travel was hit hardest, with several months recording steep year-on-year declines, notably October (–10.9%) and April (–7.0%). Nevertheless, August (+8%) and December (+7%) confirmed the continuing strength of peak holiday periods.

The mixed performance highlights an ongoing sensitivity to seasonal demand patterns and wider economic conditions, particularly for freight and air travel. Maritime passenger transport remains relatively resilient, boosted by summer tourism flows.

Aug 01
3

Q1 2025 Transport Trends in Corsica

By | 2025 Newsletter week 31 | No Comments

Air passenger traffic started slightly down in January (–1.9%), rose sharply in February (+12.4%), but dropped significantly in March (–15.7%).

Maritime passenger traffic was weak in January (–1.3%) and plunged in February (–22%), before rebounding in March (+17.1%).

Freight transport by sea remained negative throughout the quarter, with modest declines each month.

The first quarter reflects a highly unstable start to the year, with strong weather or economic effects likely distorting February and March results. March’s maritime rebound may indicate a recovery, but freight remains under pressure.

May 23
3

Facts, Figures and Finance

By | 2025 Newsletter week 21 | No Comments

Gotlandsbolaget: Q1 Report Marked by Seasonal Impact and New Operations

  • Revenue: SEK 608.6 million (384.9)
  • Adjusted EBIT: SEK -177.3 million (-66.7)
  • Net result after tax: SEK -225.2 million (37.2)
  • Key factor: Integration of Go Nordic Cruiseline

The first quarter of 2025 showed a predictable seasonal loss for Gotlandsbolaget, exacerbated by the inclusion of the newly acquired Go Nordic Cruiseline. Both vessels, NORDIC PEARL and NORDIC CROWN, were out of service for upgrades, heavily impacting results.

Cruise demand in the Baltic remained weak, affecting Birka Gotland’s performance. Meanwhile, capital management was negatively affected by unrealised currency changes.

Strategic Updates:

  • Launch of Go Nordic Cruiseline (Oslo–Copenhagen).
  • Order placed for the hydrogen-ready GOTLAND HORIZON X, a large-scale catamaran.

Leadership Changes:

  • Björn Nilsson to become CEO from 7 July.
  • Current CEO Håkan Johansson will take on the role of Deputy CEO and lead Destination Gotland.

Political Concern:
The Swedish government has yet to clarify the future of the tonnage tax. Without reforms by 2025, Gotland traffic will be managed from Denmark as of 2027, due to lack of competitive parity.

Looking Ahead:
Summer preparations are under way, with increased departures for Destination Gotland and Birka Gotland. Go Nordic Cruiseline also prepares for its first high season under Gotlandsbolaget ownership, with marketing launched in both Norway and Denmark.

Q1 Report: in Swedish

May 17
3

Rederiaktiebolaget Eckerö: Improvement in Q1 2025

By | 2025 Newsletter week 20 | No Comments

The interim report for the period 1 January – 31 March 2025 highlights several key achievements and financial developments for Rederiaktiebolaget Eckerö:

Operational Highlights:

  • Record Cargo Volume: 52,753 cargo units transported, a 33% increase from Q1 2024 (39,759) – the highest in a single quarter.
  • Passenger Growth: 545,534 passengers, up 15% from 473,325 in Q1 2024 – a new first-quarter record.
  • Market Share Gains:
    • Finland–Estonia route: 30% passenger market share (up from 24%) and 48% cargo market share (up from 33%).
    • Åland–Sweden route: passenger market share estimated at over 80%.
  • Fleet Operations: Three vessels operated continuously, except for FINBO CARGO’s dry-docking in late December to early January. TRANSPORTER remains chartered to DFDS.

Financial Performance:

  • Sales: €42.7 million, up 18% from €36.3 million in Q1 2024.
  • Operating Result (EBIT): Improved by €1.5 million to -€2.8 million (from -€4.3 million).
  • Net Result: -€2.1 million (improved from -€4.0 million). After adjusting for pandemic support and the 2024 sale of SHIPPER, the underlying result improved by €3.5 million.
  • Cost Increases: Operating costs rose 5% to €46.0 million, mainly due to increased personnel expenses from more vessel departures.
  • Net Financial Items: €0.2 million (improved from -€0.7 million).

Outlook for 2025:

The company expects a stable result despite ongoing geopolitical uncertainties.

Read more: https://rederiabeckero.ax/wp-content/uploads/2025/04/Interim-report-31-03-2025.pdf

May 17
3

Significantly Better Q1 Financial Results for Port and Ferry Operator Tallinna Sadam Group

By | 2025 Newsletter week 20 | No Comments

In Q1 of 2025, Tallinna Sadam group showed growth. Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland, and others

Ferry business was stabile – although the number of passengers decreased by –2.1%, the number of vehicles increased by +2.1%.

“We are satisfied with the results of the first quarter. Although we see a slight decrease in the number of passengers and cargo volumes, the financial results are significantly better than last year.” Valdo Kalm, Chairman of the Management Board.

Click on table below to read more:

May 09
3

FINANCE FACTS FIGURES

By | 2025 Newsletter week 19 | No Comments

DFDS Q1 2025: 10 Key Takeaways from the CEO’s Comments

  1. 2025 is a transitional year
    DFDS is laying the groundwork to improve financial performance after a challenging 2024.
  2. Most business units on track
    The majority of business units are maintaining or improving performance as expected.
  3. Three focus areas are being addressed
    Efforts are underway to:

    • Adapt Mediterranean ferry operations to increased competition
    • Turn around Logistics in Türkiye & Europe South by year-end
    • Delivering on the Logistics turnaround projects initiated in 2024.
  4. Continued negative impact from focus areas
    The earnings drag from the three problem areas persisted into Q1, as anticipated.
  5. Earnings trend improving from March
    Initial signs of improvement emerged in March, thanks to turnaround actions.
  6. Turnaround actions implemented
    DFDS has:

    • Raised prices
    • Adjusted capacity
    • Reduced headcount
    • Shut down unprofitable activities
    • Merged or closed offices.
  7. More improvements expected in Q2 and beyond
    The CEO expects a more visible earnings recovery from Q2 2025 onwards.
  8. Geopolitical tailwinds validate network strategy
    Expansion into nearshoring markets like Türkiye and Morocco is being reinforced by current geopolitical shifts and Europe’s drive for self-reliance.
  9. No short-term economic boost expected
    Muted European growth is anticipated for 2025, with potential risks from shifting US policies. Germany’s stepped-up investment in defence and infrastructure is projected to support European growth, with tangible effects anticipated in 2026.
  10. Stronger financials expected in H2
    Cash flow is improving due to working capital and capex discipline. DFDS expects stronger financial solidity in the second half of the year as earnings rise and debt falls.

Q1 2025

  • Revenue up 8% to DKK 7.5bn. Organic growth was -1%
  • EBIT reduced DKK 317m to DKK -117m
  • Adjusted free cash flow increased DKK 573m to DKK 246m
  • CO2 ferry emission intensity from own fleet lowered 5.9%

Read the Q1 2025 interim report here:

https://www.dfds.com/en/about/investors/reports-and-presentations/q1-report-2025

May 09
3

Finnlines Q1 2025: What Does the new CEO Say?

By | 2025 Newsletter week 19 | No Comments

10 key takeaways from Thomas Doepel, President and CEO

  1. Q1 2025 was “quite satisfactory”
    CEO Thomas Doepel reported a solid start to the year, with profitability improved through strategic adjustments made in 2024.
  2. Fleet rationalisation paid off
    By optimising fleet composition and reorganising freight services, Finnlines boosted its profitability despite market challenges.
  3. Falling interest rates supported results
    Alongside operational changes, reduced debt levels and lower interest rates were major contributors to improved financial performance.
  4. Significant growth in earnings
    Revenue rose to EUR 166.0 million (up from EUR 162.2 million), and EBT surged to EUR 7.9 million (from just EUR 0.4 million in Q1 2024).
  5. Solid transport volumes
    In Q1, Finnlines transported:

    • 194,000 cargo units
    • 18,000 cars
    • 297,000 tonnes of non-unitised freight
    • 165,000 passengers
  6. New RoPax ships ordered by parent company
    After the reporting period, the Grimaldi Group announced an order for nine new ro-pax vessels, including three for the Baltic Sea (Helsinki–Travemünde)
  7. Methanol-ready engines for future fleet
    All nine new vessels will be methanol-capable, aligning with Finnlines’ ambition to reach net zero emissions.
  8. Geopolitical tensions remain—but optimism is emerging
    While the situation in Europe remains uncertain, a possible stabilisation in Ukraine could open new growth avenues in Northern Europe.
  9. Germany’s infrastructure push seen as a growth catalyst
    Germany’s EUR 500 billion investment plan is expected to stimulate economic activity—Finnlines aims to capitalise on this as a Baltic Sea leader.
  10. Finnlines well-positioned in the Baltic
    With up to 26 weekly departures between Finland and Germany, and nearly 40 between Sweden and Germany, Finnlines is strategically placed to benefit from any upturn in demand.

Read the Q1 2025 interim report here, by clicking on the cover:

May 03
3

PORTS

By | 2025 Newsletter week 18 | No Comments

Key highlights from North Sea Port’s Q1 2025

North Sea Port= Gent, Terneuzen and Vlissingen

General Throughput

  • Total seaborne cargo: 16.6 million tons, up 0.9% year-on-year (+200,000 tons).
  • Growth mainly driven by liquid bulk and container handling.
  • Follows a positive year in 2024 with +0.7% growth.
  • Diversified activities continue to provide stability amidst global uncertainty.

Cargo Segment Highlights

  • Liquid bulk: Up 7.8% to 3.9 million tons (+300,000 tons).
  • Dry bulk: Down 1.9% to 8.7 million tons (-200,000 tons).
  • Container traffic: Up 33% to 45,000 TEU (~500,000 tons).
  • Break bulk Slight drop of 1.5% to 2.5 million tons (-40,000 tons).
  • Ro-Ro: Decreased 5.1% to 950,000 tons (-50,000 tons).

Geopolitical & Trade Trends

  • United Kingdom: Continued growth of +9.8%, remains largest trading partner.
  • United States: Trade up +11.5%, including a 100,000-ton increase in exports.
  • Russia: Trade declined -32%, now at just 500,000 tons, due to EU sanctions.

Geopolitical tensions (e.g. US trade war) may affect future performance.

https://en.northseaport.com/north-sea-port-also-records-modest-growth-in-the-first-quarter-of-2025

Apr 25
3

Tallink Q1: Results Affected by Economic Environment and Idle Vessels

By | 2025 Newsletter week 17 | No Comments

Tallink Grupp published its unaudited Q1 financial results.

Key challenges:

  • Low consumer and business confidence.
  • Difficult economic environment in home markets.
  • Ongoing global geopolitical tensions.
  • Extended docking periods.
  • Four idle vessels, significantly impacting results.

CEO Paavo Nõgene stated:

  • Excluding the impact of idle vessels, results are comparable to Q1 2019.
  • One idle vessel, passenger ferry STAR I, has been sold and handed over.
  • Docking is also an investment in technology and customer experience.
  • Positive feedback already for refreshed BALTIC PRINCESS.
  • Preparing for high season with special cruises and surprises planned.

Key figures:

  • Revenue: EUR 137.3 million.
  • Net loss for the quarter: EUR 33.2 million.
  • EBITDA: Negative EUR 3.8 million.
  • Investments: EUR 13.3 million — mainly for refurbishing BALTIC PRINCESS and SILJA SERENADE.
  • Loan repayments and interest: EUR 20.8 million in early 2025.
Apr 25
3

Viking Line Q1 Characterized by Ship Dockings and a Challenging Market Environment

By | 2025 Newsletter week 17 | No Comments

Financial Highlights (Q1 2025 vs Q1 2024)

  • Sales: €87.3M (↓ 6.3% from €93.2M)
  • Operating income: €-18.0M (vs €-10.4M)
  • Income before taxes: €-22.0M (vs €-14.2M)
  • Net income: €-22.1M (vs €-14.3M)
  • Investments: €9.0M (mainly in GABRIELLA and VIKING XPRS)
  • Cash flow from operations: €-10.0M (vs €+1.3M)

Market & Operations

  • Passenger volumes: 767,353 (↓ from 871,828)
  • Cargo units: 36,352 (↑ from 32,993)
  • Passenger market share: 31.2% (↓ from 34.6%)
  • Cargo market share: 20.5% (↑ from 17.4%)
  • Passenger cars market share: 26.0% (↓ from 29.9%)

Fleet Activity

  • GABRIELLA docked (technical work)
  • VIKING XPRS docked (refurbishment and shop rebuild)
  • BIRKA GOTLAND had a planned traffic break
  • VIKING CINDERELLA temporarily operated on Helsinki–Tallinn route during XPRS docking

CEO Insights – Jan Hanses

  • Results aligned with expectations but weaker than Q1 2024
  • Two dockings negatively affected performance
  • Passenger demand still soft, but onboard consumption slightly stronger
  • Increased costs due to:
    • Finnish fairway fees (reversal of previous discount)
    • Emissions Trading System (ETS) now at 70% implementation
    • General cost pressure from maintenance, emissions, and fairway fees
    • Positive outlook expected toward the end of Q2

Financial & Investment Notes

  • Debt fully repaid for VIKING GRACE
  • Cash reserves down to €26.0M (vs €65.7M in Q1 2024)
  • Unutilised credit lines: €22.1M
  • Debt/equity ratio: 52.5% (vs 50.1%)

Key Risk Factors

  • Continued economic uncertainty in core traffic area
  • Geopolitical tensions affecting energy and transport markets
  • Unclear long-term trade prospects
  • Ongoing pandemic-era support repayments: €1.1M provision booked

Outlook

  • 2025 result before taxes expected to be in line with 2024
  • Uncertainty remains high due to external factors (economy, fuel prices, demand)