FERRY FINANCE

By | 2020 Newsletter week 29 | No Comments

Viking Line Has Reached An Agreement To Defer Loan Payments Worth 14.9m

Viking Line Abp has reached an agreement with Finnvera Abp and Finska Exportkredit Ab on a loan payment deferral for the period July 1, 2020 – February 1, 2021 totalling EUR 14.9 million.

Payments fall due by January 10, 2025 at the latest – in other words, at the time final payment is due. The deferred loan payments may be paid in advance, and the interest rate and maturity of the loan remain unchanged. The payment of dividends during the maturity of the loan is conditional upon payment of the loan payments for which a deferral has been granted.

This loan payment deferral strengthens Viking Lines Abp’s liquidity situation, which is satisfactory at present.

FERRY PORTS

By | 2020 Newsletter week 29 | No Comments

Port Of Turku To Get Automooring System For Viking Line Ships

Cavotec’s MoorMaster arrived in Turku in early July. The vacuum-based automooring system will be installed at Viking Line’s berth by the end of the year and will be used by both VIKING GRACE and VIKING GLORY.

Viking Line To Launch Cruise Service From Helsinki To Mariehamn

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Viking Line will place GABRIELLA in service for cruises from Helsinki to the Åland Islands three days a week beginning July 1.

Day trips to the popular summer town of Mariehamn will give passengers the chance to get to know Åland’s sights and attractions. Viking Line, which has its roots in the Åland archipelago, has daily service to Åland with six vessels. The range of routes available is now being expanded by offering Finnish residents an attractive and safe travel option to become familiar with the beautiful archipelago and this summer paradise in the middle of the Baltic Sea.

Viking Line Slowly Restarts Passenger Services

By | 2020 Newsletter week 19 | No Comments

As a result of the Finnish government’s decision on May 4, 2020 to gradually ease some of the restrictions related to the coronavirus, starting May 14 Viking Line will open up passenger service again for essential traffic (travel for work…)

Four of Viking Line’s seven vessels will continue their service between Finland and Sweden, the Åland Islands and Estonia. People will be able to continue travelling as usual between the Finnish mainland and Åland. The new regulations enter into effect on May 14, 2020.

Viking Line’s service until May 31, 2020:

  • Turku – Åland – Stockholm with VIKING GRACE and AMORELLA according to the following timetable.
  • Mariehamn – Kapellskär with ROSELLA on Tuesday, Wednesday and Thursday according to the following timetable.
  • Helsinki – Tallinn with GABRIELLA according to the following timetable.

Service between Helsinki and Stockholm will be suspended until at least May 31, 2020.

VIKING XPRS, which normally operates between Helsinki and Tallinn, will be out of service until at least May 31, 2020.

Pandemic Drags Down Viking Line’s Q1 Results

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Some key elements of the Q1 report.

  • Passenger traffic is marginal at present, since only the transport of people between the Finnish mainland and Åland is allowed.
  • Quick measures to cut costs have been necessary. Basically the entire staff has been furloughed.
  • Backed by Finland’s National Emergency Supply Agency’s decision to aid cargo traffic to ensure the security of supply, four of the Group’s vessels are serving the Turku – Långnäs (Åland) – Stockholm, Mariehamn – Kapellskär and Helsinki – Tallinn routes. Viking Line’s three other vessels are not in service.
  • While current cargo traffic generates revenue for each vessel to cover variable costs and a small portion of fixed costs, it does not generate positive operating income for the vessels in service.
  • To strengthen liquidity and safeguard the future of the Company, Viking Line has begun negotiations for additional funding. The intention is to use State guarantees proposed in a supplementary budget submitted to the Finnish parliament.
  • Operating income totalled EUR – 21.5m (-14.2).
  • Passenger-related revenue was EUR 63.2m (83.0), while cargo revenue amounted to EUR 11.3m (12.3). Net sales revenue was EUR 54.9m (70.1).

Viking Line

By | 2020 Newsletter week 12 | No Comments

Viking Line has suspended traffic with MARIELLA and GABRIELLA between Helsinki and Stockholm from March 18 to April 13. (MARELLIA made her last trip from Stockholm to Helsinki on 17 March, GABRIELLA did her last trip from Stockholm to Helsinki on 18 March.

Viking Line follows the instructions of the Finnish authorities. Finnish borders are closed.

Traffic on the Turku – Åland – Stockholm route is maintained to supply the islands.

Viking Line also has a trip on Helsinki – Tallinn six days a week.