TOP STORY

By | 2019 Newsletter week 25 | No Comments

Maelir AB Becomes Viking Line’s Largest Individual Owner

On Wednesday 19 June, Maelir AB acquired just over 17.1% of Viking Line Abp.

Maelir AB is a private holding company based in Stockholm. It is active in real estate, hospitality and shipping.

After the transaction, Maelir’s ownership in Viking Line amounts to 17.75%. From now on Maelir is Viking Line’s largest individual owner.

Sellers include the companies Ab Rafael and Rafael Investering Ab.

Rafael Mattsson co-founded Rederiaktiebolaget Vikinglinjen, which later became Viking Line Abp. He was also the founder of the company which today constitutes both Ab Rafael and Rafael Investing Ab. For a long time, he was board member of Viking Line, and CEO ad interim when co-founder Gunnar Eklund retired.

FERRY SHIPPING

By | 2019 Newsletter week 25 | No Comments

What is Operation Marhaba? Each year many Moroccan expats travel to their home country during summer. Known as ‘Operation Marhaba 2019’, this migration sees a huge peak in ferry travel across the Western Mediterranean and Strait of Gibraltar. In the beginning of summer to go south, at the end they head back north.

When? From 5 June till 15 September 2019.

Numbers:  28 Ferries on 11 Routes.

What has been improved?

  • Algeciras – Tanger Med
  • +8% daily rotations: 13 ferries offer 53 daily rotations
  • +11% passenger capacity 47,210
  • +13% car capacity 12,895

Almeria – Nador

  • +30% daily rotations: 4 ferries offer 6.5 daily rotations
  • +56% passenger capacity 7,800
  • +62% car capacity 2,185

Busiest periods

Southbound peak period is 14-21 July and 25 July- 8 August, with 5,000 cars and 18,000 pax per day.

Northbound peak period starts mid-August, with more than 5,000 cars and 18,000 pax per day, until 2 September.

Spain and Morocco Are Ready for Operation Marhaba 2019

By | 2019 Newsletter week 25 | No Comments

What is Operation Marhaba? Each year many Moroccan expats travel to their home country during summer. Known as ‘Operation Marhaba 2019’, this migration sees a huge peak in ferry travel across the Western Mediterranean and Strait of Gibraltar. In the beginning of summer to go south, at the end they head back north.

When? From 5 June till 15 September 2019.

Numbers:  28 Ferries on 11 Routes.

What has been improved?

  • Algeciras – Tanger Med
  • +8% daily rotations: 13 ferries offer 53 daily rotations
  • +11% passenger capacity 47,210
  • +13% car capacity 12,895

Almeria – Nador

  • +30% daily rotations: 4 ferries offer 6.5 daily rotations
  • +56% passenger capacity 7,800
  • +62% car capacity 2,185

Busiest periods

Southbound peak period is 14-21 July and 25 July- 8 August, with 5,000 cars and 18,000 pax per day.

Northbound peak period starts mid-August, with more than 5,000 cars and 18,000 pax per day, until 2 September.

DFDS Launched the New Route Zeebrugge – Gothenburg

By | 2019 Newsletter week 25 | No Comments

Early May DFDS entered a five-year agreement with Stora Enso to transport around 700,000 tons of paper and paperboard products annually. This week (week 25), DFDS

launched the new route between Zeebrugge and Gothenburg.

The two tailormade 2,450 lane metre ro-ro ships owned by Wagenborg and operating on the route since the beginning have been acquired by DFDS and given DFDS names.

SCHIEBORG became BELGIA SEAWAYS and SLINGEBORG is now GOTHIA SEAWAYS.

FIONIA SEAWAYS has been transferred from the Gothenburg – Ghent route to the new route and will take part in the 8 to 12 weekly departures. She left Gothenburg for the first time on 15 June, Zeebrugge-bound.

MSC Enters Messina Group With a 49% Stake and Takes Four Con-Ro Ships

By | 2019 Newsletter week 25 | No Comments

MSC Enters Messina Group With a 49% Stake and Takes Four Con-Ro Ships

Gianluigi Aponte’s Italian holding Marinvest and Ignazio Messina & C. Group have formally signed the agreement which makes MSC new owner of four ships and of a minority stake in the shipping company.

Aponte will invest €25m for a 49% stake in the Genoa-based group and for a 52% stake in a new single purpose vehicle controlling four of the eight modern con-ro ships. More specifically the units set to be 52% controlled by MSC will be JOLLY DIAMANTE, JOLLY PERLA, JOLLY TITANIO and JOLLY COBALTO.

Messina has a financial exposure of over €450m mainly with Banca Carige, related to the fleet renovation plan completed in the last few years with 8 new con-ro ships built in South Korea by Daewoo and STX shipyards from 2011 to 2015.

Besides the fresh capital Gianluigi Aponte will put in the Genoa-based shipping company, also the Messina family will put €5m on the table to re-launch the business which will be possible also through several operative synergies between the Italian and the Swiss firms.

The agreement is subject to the approval of the competent antitrust and port authorities.

Seajets Purchase the Laid-Up HSC CAPRICORN

By | 2019 Newsletter week 25 | No Comments

Cypriot-based Seajets confirmed the purchase of the monohull HSC CAPRICORN (1999), which is laid up at the Nauta Lamjana shipyard in Croatia since 2011.

The vessel belonged to the American Avid Ltd, which purchased her from Aliaga with the prospect of converting her into a mega-superyacht, but plans fell through.

HSC CAPRICORN is a sister ship of TERA JET and she arrived at the port of Piraeus under tow on 19 June (see photo).

FERRY FINANCE

By | 2019 Newsletter week 25 | No Comments

Color Line Expects a Lower Profit Than Last Year

Color Group AS is expecting to have a profit in 2019 that is down comparable to the figure reported in 2018, because of:

  • increased oil price
  • weaker Norwegian currency
  • delayed delivery of COLOR HYBRID from Ulstein Yard
  • weaker freight marked than expected.
  • BOHUS which was out of service due to an extraordinary operational disruption
  • Settlement in the legal dispute between Nye Kystlink AS and Color Group AS / Color Line AS.

Total cash effect is estimated to approximately NOK -200 mill. (of which approximately NOK -150 effect on results) In 2019.

BOHUS has been sold to a subsidiary company of Northbay Transportes Maritimos LTD, Madeira, Portugal with delivery latest 30 August 2019. The transaction has been guaranteed by the subsidiary company Tnitsea Shipping LTD, Madeira, Portugal. The ship will continue its operations in the Mediterranean, most likely for Red Star Ferries.

Moby’s EBITDA Shows Encouraging Positive Trend in Q1

By | 2019 Newsletter week 25 | No Comments

Moby’s EBITDA Shows Encouraging Positive Trend in Q1

Moby Group has published an interesting Q1 report with some positive trends, which show the company is on the path of recovery.

Some figures in million €

  • Revenues 102.2 (89.2 in Q1, 2018)
  • EBITDA recurring 20.2 (-15.6 in Q1, 2018)
  • Operating Profit -2.3 (-30.1 in Q1, 2018)
  • Net Result -15.0 (-40.6 in Q1, 2018)

The positive EBITDA trend is influenced by an increase of Revenue due to a positive performance in freight transport (€8.5m) and due to the capital gain obtained by the subsidiary CIN, consequently the sales of the ferries PUSCHMANN and AURELIA (€15m).

Interesting is also to follow the issues with the Italian Antitrust Authority. The Regional Administrative court of Lazio has issued a final judgment on the appeal finding that a significant part of the conduct alleged by the Italian Antitrust Authority had not been correctly verified.

The company also mentions in the report the two new Chinese-built vessels, which are expected in 2020 and 2021.