Passenger traffic in Greek ports increased by 34.3% in Q3, 2021

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According to the Hellenic Statistical Authority latest report (16.03.2022):

  • The total passenger traffic in Greek ports, in Q3, 2021 increased by 34.3% compared to Q3, 2020. (a decrease of 39.1% compared to Q3, 2019).
  • The total traffic of mobile units in Greek ports in Q3, 2021 increased by 78.8%. (a decrease of 45.3 %, compared to Q3, 2019).
  • In four ferry lines the traffic exceeded the traffic of 2019. These are: Piraeus – Crete – Dodecanese, Piraeus – Dodecanese, Piraeus – Peloponnese, Piraeus – Chios – Mytilene.

Passenger traffic 2019-2020-2021 (third quarter comparison)

FERRY LINES 2019  2020   2021 
Saronic Gulf 1.120.243 698.381 856.019
Piraeus – Peloponnese 29.895 25.184 34.058
Piraeus – Crete 838.690 533.838 627.287
Piraeus – Crete-Dodecanese 54.231 36.722 241.525
Piraeus – Dodecanese 262.622 229.707 327.805
Piraeus- Western Cyclades 545.668 426.509 688.055
Piraeus – Eastern Cyclades 1.820.143 571.925 1.202.147
Piraeus – Mykonos – Tinos – Samos 591.504 483.290 352.007
Piraeus – Chios – Mytilene 266.287 144.662 286.631
Patra – Ionian Islands 297.583 191.168 272.126
Rafina – Evia – Eastern Cyclades 1.314.411 563.257 1.017.679
Volos – North Sporades – Kymi 526.556 302.839 493.395
Kyllini – Poros (Kefalonia) 244.058 153.736 199.619
Zante – Kyllini 520.794 237.511 376.954
Other Lines 1.362.130 758.510 1.079.507
Total 9.794.815 5.357.239 8.054.814

BC Ferries Q3: ferry traffic continues to recover from the impact of the pandemic

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Q3 2021

2 million vehicles = +26% (compared to Q3 2020) = -2% (compared to Q3 2019)

4.1 million pax = +43% (compared to Q3 2020) = -14% (compared to Q3 2019)


6.7 million vehicles = +26%

14.2 million passengers = 34%

Q3 ending December 31, 2021 in CAD

Net loss -1.6 million (98.5 million) primarily as a result of the timing of recognition of ‘Safe Restart Funding’

Revenue 222.2 million (311.9 million)

Without the recognition of ‘Safe Restart Funding’ in both periods, revenues would have been 203.0 million, an increase of $45.9 million compared to the same period in the prior year.

Operating expenses were 209.5 million (199.0 million). This increase is due mainly to providing more round trips and higher fuel prices.

Year-to-date since April 1, 2021, net earnings were $83.0 million compared to $74.3 million in the same period in the prior year primarily as a result of higher traffic volumes and net retail sales, partially offset by lower ‘Safe Restart Funding’ applied to the current year and higher operating expenses.

Finnlines’ financial review January–September 2021: result on the upturn during Q3

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January–September 2021

+17% Revenue EUR 425.9 million (EUR 363.1 million in 2020).

+27% Result EUR 69.0 million (EUR 54.2 million)

EBITDA EUR 121.2 (107.2) million

Cargo units 583,000 (536,000 in 2020)

Cars 124,000 (102,000)

Tons of freight not possible to measure in units 1,041,000 (811,000)

Passengers and truck drivers 439,000 (390,000)

  • An upward trend continued during Q3 when cargo volumes increased nearly on all routes.
  • The automotive industry suffered from shortage of components and the summer stoppage was longer than anticipated. However, as the Finnlines fleet consists of vessels in different sizes, capacity could be moved from routes with temporarily declining demand to others where larger capacity was needed.
  • When travel restrictions were gradually eased, recreational travel recovered although passenger numbers remained far below the normal level.
  • To reach the ambitious goal of becoming carbon neutral, it may be necessary to modify existing ships with new tanks and engines so that they can run on new types of fuel. However, at current rates of production, zero-carbon fuels are not commercially available at the scale needed for the global fleet. Today, Finnlines concentrates on new battery technology, hydrodynamic design in vessels, air lubrication systems and solar panels on its newbuilds. Several existing ships will be equipped to use onshore power where available. Moreover, gradual transition to carbon-free and renewable fuels is being investigated.
  • The construction of three hybrid ro-ro vessels and two state-of-the-art ro-pax vessels is proceeding.
  • Energy efficiency is the best way to reduce the emissions and reach immediate results.

Tallink Q3: first quarterly profit since the start of the COVID pandemic

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“It is the first ray of light we have seen after a period where we have made a net loss of more than EUR 151 million in roughly a year and a half,” says Tallink Grupp’s CEO Paavo Nõgene. “We have unfortunately just reached the low season and the high COVID rates in Estonia and Latvia, in addition to the challenging employment market and high fuel prices, are all indicating it will be yet another tough winter ahead.”

Q3 Results

  • Unaudited net profit EUR 5.5 million (net loss of EUR 23.9 million in Q3 2020)
  • EBITDA EUR 35.1 million (EUR 5.7 million in Q3 2020)
  • +18.6% Unaudited revenue EUR 170.5 million (EUR 143.7 million in Q3 2020).
  • The biggest contributors to the revenue increase: onboard restaurant and shop sales, ticket revenue and charter revenue

During the third quarter of 2021, the company strengthened its liquidity position by taking out the loan from the Nordic Investment Bank and carrying out an additional shares emission of the company’s stock in early September. This has enabled the company to secure new capital, creating a strong liquidity buffer for the challenging low season ahead. The total liquidity buffer as at 30 September 2021 amounted to EUR 252.5 million (EUR 115.0 million at 30 September 2020).


  • In the first 9 months, the Group’s unaudited revenue decreased by 14.7% and amounted to EUR 310.3 million.

Unaudited EBITDA for the first 9 months was EUR 33.2 million (EUR 6.9 million

Viking Line: Operating income improvement of EUR 65 million

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  • Revenue EUR 97.5 million (EUR 56.6 million)
  • Operating income EUR 26.0 million (EUR -7.8 million)
  • Q3 results were characterized by a steady increase in demand in the passenger segment and continued stable demand for cargo transport.


  • Revenue EUR 169.0 million (EUR 154.2 million)
  • Operating income EUR 30.5 million (EUR -35.2 million)
  • Income before taxes EUR 27.1 million (EUR -38.3 million)
  • Income after taxes EUR 22.7 million (EUR -30.8 million)

The outlook for the financial year 2021 is unchanged compared to the Half-Year Report as of June 30, 2021, which means positive operating income for the full-year 2021.

An Extraordinary General Meeting, to be held on November 22, will decide to issue new shares to strengthen the capital structure as well as the financial and liquidity position.

The goal is to raise 50 million in equity.

The subscription price would indicatively be EUR 8.00 per share and shareholders of the Company would be entitled to subscribe for 3 new shares for each five 5 shares held by such shareholder.

Tallink Grupp’s September Statistics Show Improvement on Last Year – Q3 Overall Tougher than 2020

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Positive trend for September

Pax: +27.6% • 310,265

Pax Cars: +4% • 64,610

Cargo Units: +4% • 33,982

Negative trend for Q3

Pax: -13% • 1,144,092

Pax Cars: -16.8% • 229,468

Cargo Units: -1.1% • 90,538

Numbers are still far off from what Tallink is used to in Q3 in the pre-COVID times.

The company does not foresee great increases in passenger numbers before next spring or summer. Difficult low autumn-winter season ahead.

In light of the need to optimise the company’s activities for the low season ahead and with bookings for the autumn-winter season increasing at a slower pace than expected, the company made the decision to temporarily suspend the operation of its vessels BALTIC QUEEN, SILJA EUROPA and SILJA SERENADE after the end of the Christmas school holidays in January.

SILJA EUROPA will operate some special cruises and charter cruises during the suspension period.

The company will start operating its shuttle vessels Star and Megastar according to the traditional winter schedule from 16 October 2021.

LNG RoPax (Ex-) HONFLEUR To Be Ready in Q3

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In its annual report, SIEM Industries says that, “RoPax HONFLEUR is expected to be delivered in the third quarter this year. The intention is to sell the vessel or charter it out long-term. There appears to be good demand for vessels of the HONFLEUR’s specification.”

SIEM Industries owns the ferry which was initially ordered by Brittany Ferries but then rejected after the long delays and the trouble at the FSG Shipyard. The vessel was used as part of the settlement of the Company’s historic involvement with the yard.

The vessel is currently under construction at Fosen.