• 2018 May 8 13:48

    Finnlines reports 1Q revenue of 134.9M, a 11.6% growth

    Revenue of Finnlines in the January - March period of 2018 totaled EUR 134.9 (120.9 in 2017) million, representing an increase of 11.6%, EBITDA for the three month period reached EUR 34.3 (28.0) million (+22.5%). Result for the reporting period was EUR 16.5 (11.1) million, (+48.6%) and interest-bearing debt increased by EUR 5.4 million and was EUR 492.3 (486.9) million at the end of the quarter, the Company's financial review shows.

    Emanuele Grimaldi, President and CEO comments the results: "The year has started extremely well with increased revenue, EBITDA and net result. The January–March 2018 result for the period increased by 48.6 per cent to EUR 16.5 million. Earnings before interest, taxes, depreciation and amortisation, EBITDA, came to EUR 34.3 million and revenue increased by 11.6 per cent to EUR 134.9 million.

    We have systematically invested in our fleet and focused on our customers. In our ongoing EUR 70 million Energy Efficiency and Emission Reduction Investment Programme, under which Breeze series ro-ro vessels will be lengthened, we will provide increased cargo capacity and flexibility. The programme is proceeding according to plan and the first three vessels have already been lengthened and returned to service. The fourth vessel will return to Finnlines’ operation in May 2018.

    Finnlines has decided to exercise the option for the lengthening of the two additional vessels. These two vessels will be converted between September and December 2018. This investment is also in line with our contribution towards sustainable development: by increasing our energy efficiency further we will contribute to reducing emissions per transported tonne.

    To serve our customers better and more efficiently we have also brought our refurbished Star class vessels on the routes Germany–Sweden and Finland–Sweden. MS Europalink has rejoined the Finnlines fleet and will undergo an extensive refurbishment in April. MS Finnswan will be deployed on the Naantali–Långnäs–Kapellskär route and she will be one of the first ships of this length (218.8m) and with this level of cargo capacity (4,200 lane metres) to serve our customers between Finland and Sweden. MS Finnswan will be sailing under Finnish flag and is refurbished to meet the upgraded standard of Finnlines’ modern fleet.

    "Finnlines welcomes IMO’s decision to adopt an initial strategy on the reduction of GHG emissions from ships. This agreement will be an important driver, a regulatory framework, for the development of our processes. A mix of measures will be needed in a level of technological, operational and green energy".

    "We aim toward increased energy efficiency and reduced emissions. Thanks to a good operational performance and improved cash flow generation, we have invested over EUR 1 billion in the past 12 years in modern fleet, environmental technology, lengthenings, fuel efficiency and maritime safety. With our newbuilding orders we will remain forerunners in our sector, through continued investments in green technology, digitalisation and automatisation, and other technologically advanced solutions".

    "Key elements of our strategy are to grow together with customers, focus on increasing efficiency of capital employed in our fleet and to continue investing in sustainable development. It can be concluded that our strategy is working – and it is indeed working well. We continue to focus on our customers and our efficiency, and will be completing our Energy Efficiency and Emission Reduction Investment Programme during 2018. The Finnish sea freight industry volume growth is expected to continue at a positive pace and therefore, we are confident that the year 2018 will be another successful year for Finnlines.”

    Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea, the North Sea and the Bay of Biscay. The Company is a part of the Grimaldi Group, one of the world’s largest operators of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe for both passengers and freight. This affiliation enables Finnlines to offer liner services to and from any destination in the Mediterranean, West Africa as well as the Atlantic coast of both North and South America.




2019 January 16

18:36 Kongsberg Gruppen enters into an agreement with Rome AS to divest Kongsberg Evotec
18:06 Seaspan Corporation announces the closing of the second tranche of the $1 billion aggregate investment commitment by Fairfax
17:55 INEOS, Europe’s largest petrochemicals company, announces Antwerp as the location for its new ground breaking 3 billion Euro petrochemical investment
17:50 Throughput of Rostov-on-Don port in 2018 grew by 11.5% Y-o-Y to 24.1 million tonnes
17:36 Rolf A. Sandvik resigns as CEO of The Fjords
17:06 Digging begins in construction of new Antarctic wharf
16:52 Throughput of Russian seaports in 2018 grew by 3.8% Y-o-Y to 816.5 million tonnes (detalization)
16:31 IMO’s polar communication and navigation equipment guidance to be finalized
16:14 COSCO Shipping Lines launches Ocean Alliance 2019 service products
16:10 Ice restrictions at Passenger Port of Saint-Petersburg come into effect on January 25
16:05 Realogis publishes market report on the letting of logistics properties and industrial sites in the greater Hamburg area for 2018
15:46 Ice restrictions at Big Port of St. Petersburg come into effect on January 25
15:33 Verifavia Shipping cements leadership position for EU MRV and IMO DCS IT system certification
15:22 Throughput of Makhachkala Commercial Sea Port almost doubled in 2018 to 2.5 million tonnes
14:57 Houston, Texas will host the 3rd LNG USA Summit on 26-27 February 2019
14:31 Milan, Italy will host the 2nd Small-Scale LNG Summit on 12 February 2019
13:54 CHARLES ANDRÉ Group and Dunkerque-Port join forces to develop combined transport service from Dunkerque
13:25 Société Générale and MPA Singapore join SEA\LNG Board
12:58 Vladivostok Sea Fishing Port handled 4.54 million of cargo in 2018, up 14% Y-o-Y
12:33 VEB team got acquainted with Zvezda SBC production
12:09 ABS Advanced Solutions and Fleet Management Limited partner on cyber security
11:56 Engineers from Far Eastern Federal University provide scientific support of dry dock construction at Zvezda shipyard
11:30 Bunker prices at the Port of Saint-Petersburg, Russia show no significant changes (graph)
11:09 Port of Oakland cargo volume hit all-time high in 2018
10:52 3 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on January 15-16
10:35 ​IMO Secretary-General highlightes the need to consider seafarer training and standards
10:09 Fincantieri to build a new ship for Regent Seven Seas Cruises
09:57 Brent Crude futures price down 0.02% to $60.57, Light Sweet Crude – down 0.03% to $51.97
09:41 CMA CGM OCEANIA LINES - PAD service to resume weekly rotations
09:16 Baltic Dry Index is down to 1,096 points

2019 January 15

18:18 WMU investigated how the global transport industry will change as a result of automation and advanced technologies
17:52 ASCO Training Center achieved all targets set for 2018
17:27 Sovcomflot provides technical management for Marshal Vasilevskiy floating storage and regasification unit
17:00 Throughput of port Shanghai (China) climbed by 0.07% to 561.29 million tonnes in 2018
15:59 Bunker prices continue going down at the Far East ports of Russia (graph)
15:04 Equinor uses technical expertise from LR to lead a safety study assessment for significant offshore project in Brazil
14:44 Container throughput of port Hong Kong (China) down 5.4% to 19.64 million TEUs in 2018
14:21 ONE achieves container loading records in two consecutive weeks by “MOL TRUST” and “MOL TRADITION”
14:00 Port of Klaipeda (Lithuania) handled 46.58 million tonnes of cargo in 2018, up 7.3% Y-o-Y
13:36 Turnover of DeloPorts’ terminals in 2018 increased by 13% Y-o-Y to 8.7 mln tonnes
13:12 Havyard merges its navigation, automation and power systems services into one brand
12:53 Order portfolio of Zvezda Shipbuilding Complex grew by 42% in IIH’2018
12:30 ABS grants AIP for Neptun’s wind turbine transport vessel
12:01 ZIM’s blockchain based B/L’s initiative: the next phase
11:43 9 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on January 14-15
11:29 Jan De Nul enters into concession agreement with the Government of Bangladesh for the dredging of Payra Port
11:20 CDP, Fincantieri and Snam team up to innovate port facilities in Italy and develop sustainable technologies for maritime transport
10:37 Black Sea Fleet trains for new exercises of Depth 2019 contest
10:04 Brent Crude futures price up 1.19% to $59.7, Light Sweet Crude – up 1.27% to $51.13
09:42 Icebreakers of FSUE Rosmorport assisted 2,026 ships in navigation season 2018-2019
09:19 Baltic Dry Index is down to 1,147 points

2019 January 14

18:00 EU, China and the U.S. needs to support counter-piracy operations in the Gulf of Guinea – BIMCO
17:38 Port of Singapore throughput in 2018 grew by 0.4% Y-o-Y to 630.03 million tonnes
17:06 The new Kvarken ferry will be built in Raumo
16:30 Hapag-Lloyd announces Marine Fuel Recovery Surcharges for North Europe
16:00 Full ban on open-loop scrubbers not yet imposed in China
15:36 China adopted new regulations concerning reporting of fuel consumption
15:12 ABP strengthens business with new steel contract at the Port of Immingham
14:47 ABP: £250m to keep Britain trading through Brexit
14:20 PIL adds Itajai call to Sino South America Service (SSA)