FERRY FINANCE & FIGURES

By | 2019 Newsletter week 28 | No Comments

Tallink Grupp Has Signed The Loan Agreement For The New LNG Powered Fast Ferry

AS Tallink Grupp’s subsidiary Tallink Superfast Ltd. and KfW IPEX-Bank GmbH have signed the loan agreement in the amount of EUR 197,6 million to finance the new EUR 247 million LNG powered fast ferry currently under construction in Rauma Marine Constructions Oy.

The loan is arranged and long-term financing is provided by KfW IPEX-Bank GmbH. Finnish Export Credit Agency “Finnvera” guarantees 95% of this post-delivery buyer credit.

The loan is secured by the mortgage on the new vessel and the corporate guarantee of AS Tallink Grupp. This OECD-term export credit loan will be drawn on the delivery of the vessel, presumably in the beginning of 2022 and has the final maturity of twelve years from the drawdown.

New LNG Vessels Rederij Doeksen Arrived on 29 May in Harlingen

By | 2019 Newsletter week 22 | No Comments

The two new LNG vessels for Rederij Doeksen arrived in Harlingen on Wednesday 29 May, all the way from Vietnam. They were carried by heavy lift vessel SUN RISE.

The catamarans will be towed to Harlingen, where the remaining work will be done at Nesta.

From 7 January 2020 the vessels will be structurally deployed on the Terschelling and Vlieland lines

IN THE MEDIA

By | 2019 Newsletter week 20 | No Comments

Journalist Nathalie Bureau du Colombier had an interesting article in French newspaper L’Antenne, based on an interview with Corsicea Linea CEO Pierre-Antoine Villanova.
On 26 May, ro-pax PAGLIA ORBA will be connected for the first time by shore power in the port of Marseille.
The ferry will be followed by PASCAL PAOLI and JEAN NICOLI in the coming months.
Corsica Linea has also the intention to order an LNG ferry this year, to be bost uilt by a European shipyard.
Between 2016 and 2018 revenue has gone up from EUR 176 to 220 million.
The shareholders have been asked to renounce dividends the next five years.
A group of banks will finance 80% of the cost of the new ship. The newbuilding will cost EUR 150 million. 20% will be paid by own funds.

“BC Ferries Is On The Whole A Well-Run Company,” Says Report

By | 2019 Newsletter week 9 | No Comments

The Review of Coastal Ferry Services confirms that the coastal ferry service is a vital part of the provincial economy and critical to both those who use ferry services and for the province as a whole.

BC Ferries President and CEO Mark Collins appreciates the review concluding that “BC Ferries is on the whole a well-run company.”

The review also recognizes that “employees and managers are committed to providing a safe, reliable service for the coast and work hard at it every day of the week” and “Board of Directors take seriously its obligation to provide good strategic direction and oversight.”

BC Ferries acknowledges and appreciates the financial contribution the Province made over the past year, along with contributions from BC Ferries, to fare affordability and helping to keep fares flat and lower fares on some routes.

Brittany Ferries And Repsol Pave The Way For UK/Spain LNG Ferry Operations

By | 2019 Newsletter week 9 | No Comments

Brittany Ferries has signed an agreement with Spanish energy company Repsol for the delivery of LNG to its Spanish operations.

Repsol will install a fixed quayside LNG storage and supply system in one of Brittany Ferries’ two Spanish ports, Santander or Bilbao. Repsol will then supply LNG to Brittany Ferries’ SALAMANCA. A final decision on the location of the terminal will be made later in 2019.

Construction of the new ship is planned at the Avic International Weihai shipyard in China. Under the agreement between Brittany Ferries and Repsol, the supply of LNG will begin in 2022.

INTERESTING READS

By | 2019 Newsletter week 2 | No Comments

CLdN’s Supersized Ro-Ro’s: A Success Story, And LNG-Ready

CLdN’s super 8,000 lane meter ro-ro CELINE is now more than one year in operation.

DNV GL has published a review. No time to read? Here are some bullet points:

  • Larger vessels bring down the unit price.
  • Bigger vessels work better on long hauls.
  • Transfer the best of deep-sea technology to ro-ro, with new developments in thrusters, rudders and engines.
  • Very maneuverable, in spite of their very large dimensions.
  • Learning to operate two-stroke engines rather than the four-stroke units typical for the rest of the fleet
  • Moving from low to medium voltage.
  • Operating shaft generators at variable rotational speeds with frequency converters, rather than constant-speed engines.
  • Operations with larger volumes and more decks.
  • Ready for conversion to LNG when the time is right. “It’s not a case of ‘whether’, but rather of ‘when’.

Baleària Fleet Goes The LNG Way

By | 2018 Newsletter week 44 | No Comments

Baleària is also finalising the construction of what will be the first two smart ro-pax ships with LNG engines to sail the Mediterranean. The HYPATIA DE ALEJANDRÍA is scheduled to begin operations early next year, followed by the MARIE CURIE a few months later.

Meanwhile, the first of a total of six ships in the fleet will have its engine replaced this autumn to allow it to sail with LNG. The European Union recently awarded Baleària a grant of some €12 million out of the total investment €72 million.

Within the next three years Baleària plans to have at least half of its ferry fleet using LNG, rising to a 100% of the fleet within ten years.

IN THE MEDIA

By | 2018 Newsletter week 44 | No Comments

LNG Ro-Ro Ferry For Kaliningrad Region Included In Development Programme

The construction of an LNG-powered ro-ro ferry for the Ust-Luga Baltijsk Line has been included into the Russian federal programme for the Kaliningrad Region. The ship is a 200m LNG-powered ro-ro ferry of Arc4 class, with an enclosed deck for railcars and open upper deck for trailers and trucks.

The vessel will have a double-screw propulsion plant. It can be bunkered simultaneously from four mobile units or from a coastal LNG bunker base. The ship is of a CNF19M design, by Marine Engineering Bureau.