Tag: Tallink Grupp | Page 2 | Ferry Shipping News

Fayard A/S and Odense Havn A/S have per 1 July 2023 entered into an agreement on the extension of Fayard’s involvement in the Port of Odense. The parties have entered into a 30-year non-cancellable lease agreement, in which Fayard has secured the right to dispose of the unique shipyard facilities at the Port of Odense for the next three decades.

Fayard is one of Northern Europe’s largest repair yards and services, among other things, container ships, passenger ferries, tankers, military vessels and a large number of other ships. Fayard has a central position in the green transformation of shipping in relation to energy optimization of ships as well as upgrades and retrofits of the existing world fleet

In June 2023:

-1.3% passengers, driven mostly due to chartering of vessels (less capacity)

-24.9% freight units

+5.1% passenger vehicles

In Q2 2023 (April-June)

-0.7% passengers: the decrease was driven mostly due to chartering of vessels including SILJA EUROPA and GALAXY I that transported more than 250,000 passengers Q2 of 2022.

-22.0% freight units

+5.0% passenger vehicles

FINLAND–SWEDEN

• The second quarter Finland-Sweden results reflect the operation of the Helsinki-Stockholm and the Turku-Kapellskär route. The cruise ferry GALAXY I stopped operating on the Turku-Stockholm route in September 2022 due to a charter contract.

ESTONIA–FINLAND

• The second quarter Estonia-Finland results reflect operations of shuttle services of MYSTAR and
• The cruise ferry SILJA EUROPA stopped operating on the Tallinn-Helsinki route in August 2022 due to a charter contract.
• The shuttle vessel STAR has been chartered out since 5 May 2023 and is operating under the OSCAR WILDE name between Ireland and the United Kingdom.
• The cargo vessel SEA WIND was sold in April 2022.

ESTONIA–SWEDEN

• The second quarter Estonia-Sweden results reflect the operations of the Tallinn-Stockholm and the Paldiski-Kapellskär route by one cruise ferry and two cargo vessels.

In short: solid performance during the quarter that has historically been the most challenging for the group due to travelling low season. (unaudited)

• +45.7% pax
• -9% cargo units
• +61.3% consolidated revenue or EUR 171.2 million.
• EBITDA  has seen a huge swing back into the positive compared to the last few years, reaching EUR 27.1 million in Q1 2023 (EUR –11 million in Q1 2022).
• Net loss for the period was EUR 5.4 million (net loss of EUR 40.0 million in Q1 2022).

The following operational factors impacted the Group’s revenue and operating results in Q1 of 2023:

• Growing demand for travelling supported by improving consumer confidence levels in all Group’s core markets.
• Ongoing war in Ukraine continues to impact the demand.
• During the quarter the Group operated 15 vessels including 3 shuttle vessels, 2 cargo vessels, 4 cruise ferries and 6 vessels that were chartered out (2 vessels on long-term and 4 vessels on short-term charter).
• The Group operated 3 hotels in Tallinn while the hotel in Riga remained closed since October 2020.
• Planned maintenance works totalled 45 days which affected the Finland-Sweden segment’s first quarter passenger and cargo levels as well as the financial result.
• The Group continues to focus on cost savings from previously implemented measures and achieving profitable operations on its core routes.
• The Group regularly monitors the developments on its core routes including the capacity of each route and continues to look for chartering options for vessels not used on the main routes.