MSC Acquires Toll Shipping’s VICTORIAN RELIANCE

By | 2020 Newsletter week 10 | No Comments

A company belonging to Mediterranean Shipping Company bought the 1999-built roro VICTORIAN RELIANCE. The ship is already flying the Portuguese flag (Madeira) and will be renamed JOLLY BLUE.

The name indicates she will be chartered by Ignazio Messina who already operates the sister vessel JOLLY EXPRESS on the Rades (Tunis) – Gioia Tauro (Italy) – Naples (Italy) route.

The roro vessel is on her way to Singapore.

FERRY FINANCE AND STATISTICS

By | 2020 Newsletter week 10 | No Comments

Irish Continental Group plc: Preliminary Statement of Full Year Results

ICG reports a solid financial performance for the year ended 31 December 2019.

Irish Continental Group

+8.2% Revenue

+26.9% EBITDA (pre non-trading items)

+8.2% EBIT (including non-trading items)

  • EBITDA increase of €18.4 million principally due to improved schedule integrity, the introduction of the W.B. YEATS and the implementation of IFRS16.
  • Revenue increased €27.2 million (8.2%) to €357.4 million.
  • B. YEATS cruise ferry delivered in December 2018 and entered service in January 2019.
  • In April 2019, the group entered into a bareboat hire purchase agreement for the sale of the OSCAR WILDE to MSC Mediterranean Shipping Company SA, for a total gross consideration of €28.9 million to be paid in instalments over 6 years. The profit in 2019 from this sale was €14.9 million.
  • Second new cruise ferry investment of €165.2 million ordered in 2018. Contracted for delivery in 2020.

 

Ferries Division

  • +8.3% Revenue
  • +1.8% Operating costs
  • +25.3% EBITDA
  • +7.1% Operating profit
  • +10.4% roro units
  • +2.6% passengers
  • +2.2% car