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Feb 13
3

Viking Line 2025: Stable Revenue, Softer EBIT, Record Freight

By | 2026 Newsletter week 07 | No Comments

Full Year 2025 (vs 2024)

  • Revenue: EUR 480.9 M (+0.2%)
  • Operating income (EBIT): EUR 21.1 M (down from EUR 26.7 M)
  • Profit before tax: EUR 18.9 M (EUR 19.8 M)
  • Net profit: EUR 16.0 M (EUR 15.9 M)

Traffic & Market

  • Passengers: 4,608,573 (–0.8%)
  • Total market share: 32.1% (32.8%)
  • Finland–Sweden share: 59.8% (unchanged)
  • Finland–Estonia share: 24.3% (24.5%)

Freight: Record Year

  • Cargo units: 139,484 (+3.9%) – new historical high
  • Freight market share: 19.4% (17.8%)
  • Fossil-free freight option introduced on all routes

Freight continues to outperform despite weak Finnish macro conditions.

Q4 2025: Improved Profitability

  • Revenue: EUR 112.6 M (+2.8%)
  • EBIT: EUR 3.6 M (EUR 1.5 M)
  • Net profit: EUR 4.1 M (EUR 3.5 M)

Passenger revenue rose 3.2%. Operating costs fell 0.6%.

Cost & Regulatory Pressure

  • Operating costs FY: EUR 328.6 M (+1.7%)
  • Emission allowance costs: EUR 4.5 M (EUR 3.1 M)
  • Wage costs +2.8%, partly due to Birka Gotland staffing
  • ETS phase-in increased to 70% in 2025
  • FuelEU Maritime entered into force 1 January 2025

Island exemption applies to parts of Turku–Stockholm and Helsinki–Stockholm routes.

Investments

  • Capex: EUR 19.6 M (4.1% of revenue)
    • Dockings (GABRIELLA, VIKING XPRS)
    • Emission allowances

Helios project (large electrified vessel concept for Helsinki–Tallinn) progressing.

2026 Outlook

  • Profit before tax expected on par with or slightly better than 2025
  • Continued uncertainty:
    • Weak consumer demand
    • Geopolitics
    • Energy prices
    • Emission costs
    • Source: Viking Line
Feb 13
3

Official Start of the HORIZON X Building Project

By | 2026 Newsletter week 07 | No Comments

Austal has marked a significant milestone in the construction of Horizon X, the next-generation high-speed ferry for Sweden’s Gotlandsbolaget, with a plate cutting ceremony held on 5 February 2026 at the Austal Philippines shipyard in Balamban, Cebu.

Horizon X is a 130m, hydrogen-ready, high-speed catamaran ferry — part of Gotlandsbolaget’s innovative Horizon X programme — and represents the largest vessel ever contracted to Austal.

The ferry is designed to carry up to 1,500 passengers and 400 vehicles and cargo and will be capable of operating on multiple fuel types, including future hydrogen and other low-emission alternatives.

VIP guests from left to right: Jonas Moberg, Head of Newbuilding, Gotlandsbolaget; Håkan Johansson, Deputy Chief Executive Officer, Gotlandsbolaget; Paddy Gregg, CEO, Austal Limited; Björn Nilsson, CEO, Gotlandsbolaget; Wayne Murray, President, Austal Asia. (Image: Austal)

Source

Feb 13
3

Ferry FYNSHAV Sold by Molslinjen to Medmar Navi

By | 2026 Newsletter week 07 | No Comments

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The 1998-built ferry FYNSHAV has been sold by Danish operator Molslinjen to Naples-based Medmar Navi.

The reported price for the vessel, now renamed MEDMAR MARTINA, was approximately EUR 4.5 million.

The ferry is expected to sail from Northern Europe to the Mediterranean in the coming days. It will undergo refit works before re-entering service in the Gulf of Naples next summer.

Medmar Navi, a short-sea operator controlled by the D’Abundo family, recently acquired two additional vessels as part of its fleet renewal programme: MEDMAR GIORGIA and HSC MEDMAR DONATA.

The ships will serve regular routes from Naples and Pozzuoli to the islands of Ischia and Procida.hoto: Wikimedia

Feb 13
3

Stormy Waters for Madar Maritime’s Ferry Operations?

By | 2026 Newsletter week 07 | No Comments

Last year, Madar Maritime chartered Tallink Grupp’s ROMANTIKA to operate ferry services between Algeria and Spain. Operations began in September 2025.

The vessel is now sailing off the Algerian coast, reportedly awaiting further instructions.

The suspension of crossings was made public on 5 February by Kada Nedjadi, President of the Transport Commission of the National People’s Assembly (APN).

The last thing published by the company was a storm warning, saying ‘safety first’ and ‘departure of 27/1 Cancelled’.

Feb 13
3

A Ceremony Marked the Official Completion of Stena Line’s Acquisition of Wasaline.

By | 2026 Newsletter week 07 | No Comments

“The close and strong cooperation between Sweden and Finland is of central strategic importance to both our countries. Robust and reliable transport links are a fundamental prerequisite for a competitive business sector as well as for strengthened preparedness and security. Ferry traffic between Sweden and Finland is attractive and viable, as underscored by today’s ceremony”, said Andreas Carlsson, Minister of Infrastructure in Sweden.

Together with Joakim Strand, Finland’s Minister for European Affairs and Ownership Steering, Dan Sten Olsson, owner of Stena Line, and Niclas Mårtensson, CEO of Stena Line, they carried out the ribbon-cutting ceremony.

Source: News Cision Stena Line

Feb 13
3

Stena Line Invests in Gothenburg–Kiel Upgrade

By | 2026 Newsletter week 07 | No Comments

Stena Line has invested millions in an extensive refurbishment and modernisation of STENA GERMANICA and STENA SCANDINAVICA, which operate on the Gothenburg–Kiel route. Following their recent return from shipyard, passengers can now enjoy renovated restaurant and bar areas as well as upgraded outdoor decks, completed ahead of the upcoming travel season.

The investment underlines Stena Line’s continued commitment to strengthening its overnight product on the important Sweden–Germany corridor and enhancing onboard comfort as competition across the Baltic intensifies.

Feb 13
3

Zeebrugge-Tilbury’s Second RoRo Joined the P&O Fleet

By | 2026 Newsletter week 07 | No Comments

P&O Ferries long-term charter LISMORE, sister ship of LONGSTONE.

The RoRo vessel has now joined the fleet.

The two vessels will operate together on the Zeebrugge–Tilbury route.

The weekly lane metre capacity for the route has the potential to be uplifted by 9000m.

Kasper Moos, CEO, P&O Ferries, said: “Our focus is on being a trusted, long-term partner to freight customers. By increasing capacity on the Zeebrugge–Tilbury corridor, we’re making it easier for customers to secure guaranteed space, plan with confidence and support their growth. This investment underlines our determination to offer a service that is dependable, competitive and aligned with evolving demand across key European supply chains.”

Feb 13
3

Green Corridor Stockholm–Turku: Two Years On

By | 2026 Newsletter week 07 | No Comments

Viking Line, Åbo Hamn and Stockholms Hamnar have marked two years of cooperation to establish a fossil-free maritime corridor between Stockholm and Turku, targeting full implementation by 2035.

A joint roadmap is in place, with progress in shore power planning, port electrification and access to renewable fuels.

Key steps so far:

  • Battery pre-studies and Elogrid installations on VIKING GRACE and VIKING GLORY
  • Tenfold increase in renewable biogas use in 2025 vs 2024
  • Shore power preparations in Turku aligned with Ferry Terminal Turku
  • First public charging station for heavy vehicles in a Finnish port
  • Stockholm advancing port electricity supply to enable zero emissions at berth

The partners stress that continued coordination between shipping companies, ports and policymakers is essential to deliver a fossil-free corridor by 2035.

Photo: Viking Line Daniel Eriksson

Read more: https://www.portsofstockholm.com

Feb 13
3

Corsica – Maritime Traffic Holds Growth in November 2025

By | 2026 Newsletter week 07 | No Comments

Passenger Traffic (Ferry Only – Excluding Cruise)

In November 2025, Corsica recorded:

  • 100,300 ferry passengers
  • +2.1% year-on-year

Growth remains modest but positive in the shoulder season. The 24-month trend shows the usual strong summer peak and stable winter base, confirming structural seasonality rather than volatility.

Port Distribution (November 2025)

Passenger market share by port:

  • Bastia: 49,000 passengers (50%)
  • Ajaccio: 30,000 (30%)
  • L’Île-Rousse: 5,000 (5%)
  • Bonifacio: 5,000 (5%)
  • Porto-Vecchio: 4,000 (4%)
  • Propriano: 3,000 (6%)

Bastia remains the dominant gateway, handling half of all ferry passengers in November.

Operator Market Share (November 2025)

  • Corsica Ferries: 56,000 passengers (56%)
  • Corsica Linea: 27,000 (28%)
  • La Méridionale: 10,000 (10%)
  • Moby Lines: 6,000 (6%)
  • Ichnusa Lines: marginal

Corsica Ferries maintains clear leadership, with more than double the volume of its nearest competitor.

Feb 13
3

Three Reasons Behind Last Week’s Corsica Maritime Transport Strike

By | 2026 Newsletter week 07 | No Comments

Unions at La Méridionale and Corsica Linea cite three core issues behind the early February strike:

  1. Fierce Competition on Maghreb Routes

The Maghreb market represents up to 35–40% of turnover and an even higher share of profits. Competition has intensified, notably from Grandi Navi Veloci (GNV), part of MSC, which secured a strong position in Sète–Algeria services in 2025

  1. Higher-Cost French Flag

The two operators (La Méridionale & Corsica Linea) sail under stricter and more costly French social, safety and environmental rules than GNV’s Italian international flag. Talks with the French Transport Ministry are ongoing, with an eight-week working timeline agreed

  1. EU Carbon Costs (ETS)

The EU ETS regime adds further cost pressure. Greece secured exemptions for its islands; Corsica has not

Source: France 3 Corse ViaStella (in French)

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