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EXTRA NEWS

By | 2019 Newsletter week 46 | No Comments

Brittany Ferries and Columbia Threadneedle Investments reach agreement to acquire Condor Ferries from Macquarie Infrastructure and Real Assets

Brittany Ferries, in consortium with the Columbia Threadneedle European Sustainable Infrastructure Fund (ESIF), has reached an agreement to acquire 100 percent of Condor Ferries from Macquarie Infrastructure and Real Assets (MIRA).

Contracts have been signed and the deal is expected to be executed following scrutiny by relevant regulatory authorities. Brittany Ferries will hold a minority stake.

Condor Ferries is an operator of lifeline freight and passenger ferry services. Each year, Condor Ferries carries approximately 1 million passengers, 200,000 passenger vehicles, and over 900,000 freight lane meters between Guernsey, Jersey, the United Kingdom, and the Port of St. Malo in France.

Brittany Ferries began operations in 1973. Today its fleet includes twelve ships connecting France, the United Kingdom, Ireland and Spain. It operates from three ports in the UK, Portsmouth, Poole and Plymouth and carries around 2.5 million passengers every year, as well as 210,000 freight units.

ESIF is a new open-ended, evergreen fund that invests in European mid-market equity assets, managed by leading global asset management group Columbia Threadneedle Investments.

TOP STORY

By | 2019 Newsletter week 46 | No Comments

“Ferry Industry, Do Not Miss The Once-In-A Generation Opportunity“

Direct Ferries announced the winners of the 2019 Direct Ferry partner awards at a gala dinner in the NED hotel in London.

Sean Cornwell –Direct Ferries CEO– said “We were delighted to host so many of our key partners in one place to celebrate the ferry industry and to showcase Direct ferries commitment to our partners and the wider ferry industry.

Sean used his keynote address to highlight the once in a generation opportunity the ferry industry has, to position itself as a greener alternative to air travel. He said “We are in a climate emergency and there is a group of travellers that are now looking for more environmentally friendly ways to travel and ferries have a unique opportunity to attract these customers.

“To show our commitment, we have partnered with Climate Perks, a charitable initiative asking employers to offer employees paid journey days if they travel by rail or sail, rather than fly.”

The awards were based around customer experience, strength and quality of the technical integration and API offered and growth on the Direct Ferries platform. The Operator of the Year Award, won by Fred Olsen Express, represents outstanding performance and strength across all of those categories.

The winners were:

  • Operator of the Year| Fred Olsen Express
  • Fastest Growing operator >30,000 passengers| Seajets
  • Fastest Growing operator <30,000 passengers| Interislander
  • Fastest Growing operator, On board less than 24 months| 2Go Travel
  • Best overall customer experience (voted by Direct Ferries Customers) – Color Line
  • Best Operator Technology| Brittany Ferries
  • Highest Customer rated vessel| Megastar, Tallink Silja

Direct Ferries is the world’s largest ferry demand platform and online travel agent. Five million passengers book through the platform annually across ~3,500 routes and ~250 operators globally.

FERRY SHIPPING

By | 2019 Newsletter week 46 | No Comments

Project partners from 13 EU Member States investigate cost-efficient measures to mitigate the risk from ro-ro space fires. The European Commission invests €12 million to solve this international maritime fire safety challenge.

The name of the project is LASH FIRE (Legislative Assessment for Safety Hazards of Fire and Innovations in RoRo ship Environment)

The consortium is coordinated by RISE Research Institutes of Sweden and comprises 26 partners from 13 Member States of the European Union, including industry partners, research institutes, universities, regulatory bodies, trade associations and experts in communication and external relations. LASH FIRE will provide a basis for the revision of international maritime regulations and gives European industry knowledge to build safer and more competitive ships for sustainable transport.

Fred. Olsen Express And Baleària Introduce Newbuilding On The Joint Canary Islands – Huelva Route

By | 2019 Newsletter week 46 | No Comments

Fred Olsen Express and Baleària celebrate one year on the route between the Canary Islands and Huelva with the incorporation, on November 17, of LNG-powered RoPax MARIE CURIE. This Visentini-built ferry was delivered last July.

During the first year of the joint venture, 155 crossings have been performed, increasing the links between the Canary Islands and the Peninsula by 73%.

FinFerries Ordered A Hybrid Ferry In Poland

By | 2019 Newsletter week 46 | No Comments

Polish Crist Shipyard has been selected by FinFerries to build a new ferry for the route between Åland and Föglö.
The yard previously built ELEKTRA. More than 20 yards were shortlisted.

The environmentally friendly ferry will operate on the Föglö route, which is tendered by the Åland Provincial Government. The ferry will be operated by Ansgar Ab, Åland’s associated company.

The new ferry will be powered primarily by battery packs (loaded by shore power) and backed up by diesel generators. The technology is provided by Siemens

The electric hybrid ferry will be 100.5 meters long, 17.4 meters wide and will accommodate 90 cars.

There is an option for a second vessel.

Moby’s RoRo Hartmuth Puschmann Ready For Delivery To Arab Bridge Maritime

By | 2019 Newsletter week 46 | No Comments

Moby’s HARTMUTH PUSCHMANN has been renamed AMAL, registered in Limassol and is now ready to leave Italy.

The 1993-built roro ship was sold earlier this year for €13 million but it has been operating on the maritime link between the ports of Livorno and Cagliari in bareboat charter for the last six months.

The name of the new owner remained undisclosed, but some sources told Ferry Shipping News that it might be the Middle Eastern company Arab Bridge Maritime, while the vessel is likely to be deployed in the Red Sea region.

FERRY FINANCE

By | 2019 Newsletter week 46 | No Comments

Q3 in brief:

  • Q3 EBITDA on level with 2018 despite UK slowdown. This slowdown in trade between UK and continental Europe continued through Q3 and lowered freight volumes on the North Sea ferry routes and passenger volumes on the Channel.
  • Logistics Division increased EBITDA 15% in Q3 as contract logistics in UK & Ireland and other activities across the division performed well despite of the UK slowdown.
  • The Channel freight market share was increased in Q3.
  • Mediterranean’s revenue growth continued but earnings were held back by a rise in costs due to operational challenges. A simplified route and port terminal structure was introduced in Mediterranean at the start of Q4.

+2.0% Revenue DKK 4.5bn

-0.2%  EBITDA DKK 1.2bn

+4.0% Profit before tax DKK 647m

Outlook 2019

Due to the ongoing European slowdown, expected revenue growth is now around 6% (previously: 6-8%). To reflect a reduced risk of a no-deal Brexit occurring in 2019, the outlook range for EBITDA before special items is narrowed to DKK 3.55-3.75bn (previously: DKK 3.5-3.8bn).

Tallink Grupp Reports Record-Breaking Q3

By | 2019 Newsletter week 46 | No Comments

The record-breaking quarter is the result of the group carrying and serving record numbers of passengers in July and August and strong onboard and onshore sales.

  • Net profit was €54.6 million (46.1 million in Q3 2018), which is the highest ever net profit for the group for Q3.
  • EBITDA increased by €12.1 million to €83.2 million.
  • Revenue increased by 1.5% to a total of €287.8 million.

First 9 months 

  • €44.2 million net profit, which is a 2.4 million (5.8%) increase.
  • Revenue decreased by 0.1% and was €722.7 million.
  • EBITDA increased by almost €19 million (€137.7 million).

The financial result of the first nine months of 2019 was positively impacted by the very strong third quarter, but negatively impacted by the docking of seven of the company’s vessels in the first half of the year.

Ten Nordic Ports For A Sustainable Future

By | 2019 Newsletter week 46 | No Comments

Ten ports in the Nordic Region have agreed upon a declaration focusing on sustainable port management. The joint declaration shows a regional commitment to collaborate on environmental challenges related to UN’s Sustainable Development Goals (SDGs).

The 10 ports have put forward a declaration emphasising the importance of sharing knowledge, information and best practices on different environmental topics such as energy use and pollution to optimize sustainable port management.

“Sustainable development is a considerable challenge – but also a development which holds great potential and opportunities. Responsible business demands innovative ways of thinking and new ways of working. In order to accelerate solutions on sustainable matters, we need to create strong partnerships. This declaration signals a strong commitment among some of the largest ports in the Nordic Region to act collectively”, says Barbara Scheel Agersnap, CEO at Copenhagen Malmö Port AB.

The Final Pieces Of The Puzzle For The New Stockholm Norvik Port

By | 2019 Newsletter week 46 | No Comments

The Stockholm Norvik Port is the biggest port to be built in Sweden in more than a century, and it is the first time that Ports of Stockholm has built an entirely new freight port from the ground up. The new port will be one of the largest in the Baltic Sea, with capacity for both roro vessels and container ships.

Ports of Stockholm will hand over the keys to Hutchison Ports in November, and the first container vessel is planned to arrive in May 2020.

A little later, in September 2020, Ports of Stockholm will open a new roro-terminal. Interest is great, not least because of the growing freight volumes at both Nynäshamn and Kapellskär. An example of this is traffic to and from Poland, which increased by as much as 70 percent last year.

Algeciras Port Authority Fined The Polluting Ferries

By | 2019 Newsletter week 46 | No Comments

The Port Authority of Algeciras imposed fines -following complaints by the environmental organization AGADEN- on the polluting ferries operating the Algeciras-Tanger Med line during MARHABA 2019. According to the Organization’s data, the ships that have been imposed fines due to harmful emissions are Intershipping’s GALAXY (1979) and MED STAR (1986), AML’s MOROCCO SUN (1980)(which is already in Perama (Greece) for engine repairs and upgrades), Trasmediterranea’s LAS PALMAS DE GRAN CANARIA (1993) and Balearia’s HSC JAUME III (1996).

AGADEN urges the Algeciras Port Authority to proceed immediately with a plan aimed to the drastic reduction of the harmful emissions released by the operating ferries. Among other things, it proposes the creation of a shore power infrastructure.

Port Of Olbia RoPax Terminal: Moby And Grimaldi Group Interested

By | 2019 Newsletter week 46 | No Comments

Although no offers were officially sent to the port authority of the Sardinian Sea before the deadline of 4 November, at least two group are interested in operating the ropax terminal in the Port of Olbia.
Moby group officially said to have submitted a project finance in the last few days and also Grimaldi Group is expected to do have done the same.

Last June, the Port Network Authority of the Sardinian Sea announced that it intends to select a private partner for the management of the ropax terminal, passenger services, parking areas, and support services to road transport and to the users of the commercial area in the port of Olbia.

As of today, the ferry terminal is managed by Sinergest, subsidiary of Moby group, and the concession (which expired last year) was and will be extended until the end of 2019.

SHORT NEWS

By | 2019 Newsletter week 46 | No Comments

Levante Ferries’ Smyrna Transformation In Full Swing

Levante Ferries’ SMYRNA is being converted into a high-quality car ferry.

The bridge wings are almost closed. Her stern superstructure is changing in order to host new ramps for passengers and the upper garage. The interior is being redone too.

After the conversion, the Norwegian-built former Unity Line train ferry is expected to be introduced on the Thessaloniki-Izmir run. Smyrna is the old Greek name for Izmir.

The conversion is done under the responsibility of Kopoukis naval architects.

Dutch Customs Authorities in the Port of Rotterdam have granted C.RO Ports with the status of Authorised Economic Operator, both for Customs and Security. The award acknowledges the company’s constant effort in maintaining the highest standards in safety and process transparency, and recognizes the trust relationship between the terminal operator and the Customs Authorities.

PHOTO OF THE WEEK

By | 2019 Newsletter week 46 | No Comments

Slow Boat To Piraeus

The inhabitants of Funchal could notice the slowest fast ferry ever passing their island. The vessel is Bridgemans Trinidad LP’s OCEAN FLOWER 2, which was purchased in 2017 for the Trinidad -Tobago route.

She is under tow by the Portuguese tug MONTE DA LUZ, from Curaçao to Piraeus. Seajets is the company that purchased her.