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Tag: Torghatten | Ferry Shipping News

Apr 21
4

NIB finances EQT-backed Molslinjen and Torghattens’ sustainability transformation in Denmark and Norway

By | 2022 Newletter week 16 | No Comments

NIB has signed a 7-year loan agreement with a EQT owned company to finance capital expenditures relating to electric ferries operated by Molslinjen A/S in Denmark and Torghatten AS in Norway.

The EUR 84.71 million loan, which is fully eligible to be funded by NIB Environmental Bond proceeds, will be key in realising EQT Infrastructure’s ferry capital expenditure programme during 2021-2026.

EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic floating bridge and island-to-mainland transportation infrastructure champion. The combined entity will become the leading maritime transportation company located in one of the most attractive and creditworthy regions, with a strong and resilient financial profile underpinned by robust cash flow visibility and a highly diversified route and contract portfolio.

Source: NIB
Previous post Refinancing of Torghatten and Molslinjen (April 7)
Apr 07
4

Refinancing of Torghatten and Molslinjen

By | 2022 Newsletter week 14 | No Comments

Norway’s investment bank ‘DNB Markets’ said in a LinkedIn post that it acted as Debt Advisor in the NOK 14.3 billion Sustainability-Linked Joint Refinancing of Torghatten and Molslinjen on behalf of EQT Infrastructure.

EQT Infrastructure is combining the two leading ferry companies, Molslinjen and Torghatten, under one common holding vehicle to establish a pan-Nordic “floating bridge” and “island-to-mainland” transportation infrastructure champion.

“The combined entity will become the leading maritime transportation company located in one of the most attractive and creditworthy regions, with a strong and resilient financial profile underpinned by robust cash flow visibility and a highly diversified route and contract portfolio,” says DNB Markets.

May 20
2

IN THE MEDIA

By | 2021 Newsletter week 20 | No Comments

EQT, Molslinjen’s Private Equity Fund Owner Considers Merger With Torghatten

Last year EQT announced the purchase of Danish Molslinjen and a few weeks later Norwegian Torghatten.

The Swedish private equity fund will create a leading ferry company in the Nordic region and is ready to invest several billions of kroner.

The plans may include a merger between Molslinjen and Torghatten, the partner told ShippingWatch.

Source: Shipping Watch / Mobility Watch (in Danish)
Aug 23
0

One More Ferry For Torghatten

By | 2018 Newsletter week 34 | No Comments

Torghatten Group has ordered a near sister to 2017 Fiskerstrand built HORNSTIND for its Torghatten Nord brand. The vessel will be built by the Turkish Sefine Shipyard.

To be named HEILHORN, the new Multi-Maritime-designed vessel will have a similar capacity as HORNSTIND. Expected in 2020.

May 17
0

Torghatten Gets New Ferry Contracts

By | 2018 Newsletter week 20 | No Comments

Torghatten Trafikkselskap has won ferry contracts in Nordland, Norway, worth over NOK 400 million.The three-year contracts concern the ferry connections Vennesund-Holm, Horn-Andalsvåg, Horn-Igerøy and Igerøy-Tjøtta. Torghatten is going to order a new ferry and rebuild TORGHATTEN, the existing ferry. Both will be diesel-electric hybrid, although this was not a tender requirement.
Who is going to build the new vessel has not been decided yet.

Source: Skipsrevyen (in Norwegian)

Photo: LMG Marin

Mar 15
0

Torghatten is ready for the new concessions and the new ferries

By | 2018 Newsletter week 11 | No Comments

Torghatten, the Norwegian group with ferry, bus and air transport (Widerœ) has published the 2017 report.
January 2017 was the start of a new 10-year licensing period for the Horten – Moss route. Traffic development has been good, and all three new ferries have worked without major operational interruptions.
In Helgeland, a new plug-in hybrid ferry was delivered for the Tjøtta – Forvik route.
The group has won two major contracts, which start on 1 January 2019.
These are the ferry connections Halhjem – Sandvikvåg (E39, Hordaland) and Flakk – Rørvik (Trøndelag). Torhatten has 7 ferries under construction for these connections.
Torghatten also signed a contract for the continuation of the operations on Bognes -Scarberget and Drag – Kjøpsvik for the period 2018 to 2021. Here the ferries are upgraded to plug-in hybrid systems.

Key figures for the 2017 (2016) results, including air, ferry and buses:
Revenue NOK 9,740 million (9,386)
EBITDA NOK 1,314 million (1,345)
EBIT NOK 625 million (733)
Result before tax (EBT) 558 million (590)
Result after tax 468 million (448)

Five ferries are built in Turkey, with a gas-electric propulsion plant including a battery pack, and two are being built in Norway, also with gas-electric proplusion.