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Tag: Report | Ferry Shipping News

Oct 06
0

Tallink Grupp reports largest quarterly passenger number since 2019

By | 2022 Newsletter week 40 | No Comments

September

The September figures reflect the fact that as of 20 September 2022, six of the company’s vessels are chartered out.

+26.5% pax / +0.6% freight units / -4.7% pax vehicles

Q3

The biggest passenger number increase during the quarter was on the Finland-Sweden route with the passenger number increasing in Q3 2022 by a total of 82.2% compared to the same period last year.

The Estonia-Finland route also saw significant recovery in passenger numbers during the quarter year-on-year with the passenger number up in 2022 by 61.7%

+65.5% pax / +13.1% freight units / +21% passenger vehicles

Commenting on the statistics, Paavo Nõgene, CEO of Tallink Grupp said: 

 “As we enter the last quarter of this turbulent year, we have taken several steps to secure our business over the low season, both through unpleasant, but vital price increases as well as various charter agreements for our vessels. Although the latter means that we have less services to offer our loyal customers over the coming months, it also means that we have secured the future of these vessels in our fleet and will be able to offer more of these services again once our vessels return to the Baltic Sea.”

Nov 11
4

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

By | 2021 Newsletter week 45 | No Comments

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.
Feb 25
2

PORT NEWS

By | 2021 Newsletter week 8 | No Comments

COSCO Urges For Further Investments In Piraeus Port

According to a recent report:

  • COSCO Shipping served in total 26.7 million TEU worldwide
  • Traffic increased by 1.8% compared to 2019
  • COSCO is concerned about the fact that ports that were far behind Piraeus still competing. A typical example is the port of Tangier, which served 5.7 million TEU, operating three piers. Investments are being made in order to increase capacity to 9 million TEU.
  • COSCO is concerned because the Greek Government does not approve the construction of Pier IV that will increase the port’s capacity to 10 million TEU.
  • If Pier IV is not built, then Piraeus Port will lose customers as well as its geostrategic footprint.
Dec 10
1

FERRY SHIPPING

By | 2020 Newsletter week 50 | No Comments

ANEK LINES Q3 2020 Key Financial Figures

During the first nine months (2020), traffic volumes of the ANEK Group vessels dropped by 50% for passengers, by 44% for private cars and by 8% for freight units.

Respectively, in Q3 (2020) traffic volumes decreased by 48% in passengers, by 38% in private cars and by 6% in freight units.

First 9 months of 2020 in EUR ,000 (same period in 2019)

  • Turnover: 97,004 (138,076)
  • Gross Profit:  13,893 (36,491)
  • EBITDA: 7,705 (26,582)
  • EBIT: -718 (18,080)

Consolidated profit before taxes: -7,685 (11,039)

Consolidated profit after taxes: -8,216 (10,120)

  • Q3 of 2020 in EUR ,000 (same period in 2019)
  • Turnover: 41,627 (65,573)
  • Gross Profit: 12,429 (27,711)
  • EBITDA: 10,004 (23,408)
  • EBIT: 7,155 (20,582)

Consolidated profit before taxes: 4,916 (18,069)

Consolidated profit after taxes: 4,642 (17,540)

The second wave of the pandemic and the new restrictive measures in the movement of passengers are expected to lead to a decrease in traffic and revenue during the winter period 2020-2021 compared to the same period last year, while a gradual recovery of sizes is expected after Q1, 2021.

Dec 10
1

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

Sep 03
0

FERRY SHIPPING

By | 2020 Newsletter week 36 | No Comments

A Terrible Summer Season Forces Brittany Ferries to Take Further Action

Brittany Ferries announced the closure of some easterly routes. Caen-Portsmouth however remains open.

Westerly routes will see the arrival of a new vessel in December.

Negative

  • Decision by the UK government to impose quarantine restrictions resulted in 65,000 pax cancellations and less bookings for autumn
  • BF was hoping for a summer season with 350,000 pax (instead of the normal 700,000+)
  • BF will only reach 200,000 passengers maximum
  • Passengers = 75% of BF’s income

Positive

  • BF has re-affirmed that its foundations are strong
  • Reservations for the 2021 season are strong (100,000 pax booked for 2021)
  • Newbuilding GALICIA enters service in December, on UK-Spain

Result

  • Five-year recovery plan
  • Closure of Cherbourg-Portsmouth, Le Havre-Portmouth, Saint-Malo-Portsmouth.
  • Cherbourg-Poole will also remain closed for the remainder of the year (closed since March)
  • CONNEMARA laid up as from 7 September
  • BRETAGNE laid up as from 7 September, no further service until 22nd March
  • BARFLEUR not in service for rest of 2020
  • ETRETAT laid up until further notice
  • KERRY no Roscoff-Rosslare service as from 7 September
  • CAP FINISTERE 3-month technical lay-over as from December
  • ARMORIQUE laid up Q1, 2021
Source: Brittany Ferries
Sep 03
0

Stena Group H1: Strong Tanker Operations versus Ferries and Offshore

By | 2020 Newsletter week 36 | No Comments

The Covid-19 outbreak is affecting Stena’s Business Areas in different ways and there has been a negative financial impact on the Stena AB Group as from mid-March.

EBITDA trends (+/-)

  • -Ferry operations
  • – Offshore drilling
  • +Tanker operations
  • +Property

Key H1 figures Stena AB

  • Total revenues SEK 16,632 million (SEK 16,973 million)
  • Direct operating expenses SEK 12,027 million (SEK 11,287 million)
  • EBITDA SEK 2,894 million (SEK 4,265 million)

Segment: Ferry Operations

  • EBITDA, excluding redundancy costs, SEK 514 million (SEK 1,369 million)
  • Redundancy costs for closing routes amounting to SEK 302 million.
  • Car volumes decreased 53%, passenger volumes decreased 52% and freight volumes decreased 11%.

Segment: RoRo Operations

  • EBITDA from chartering out Roll-on/Roll-off vessels SEK 114 million (SEK 151 million)
  • The decrease is mainly due to lower charter income due to the sale of the vessel KAIARAHI in Q4, 2019.

Change in vessel measurement policy

Stena has decided to change the measurement policy for vessels in the Ferries section and in the Offshore Drilling section as of January 1, 2020.

The remeasurement has:

  • increased the value of ferries with SEK 4.3 billion
  • decreased the value of drilling units in the segment with SEK 3.1 billion

Effect on H1: Depreciation, Amortisation and Impairment Depreciation and amortisation charges increased by SEK 142 million to SEK 3,668 million (SEK 3,526 million)

Outlook

“Given the uncertain situation, it is not currently possible to predict the full potential impact on the Stena AB Group.“

Stena AB Group Q2 and H1, 2020