• 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.




2018 October 18

18:03 VSDV opens new crossdock location in the port of Amsterdam
17:33 The first vessel in Klaveness Combination Carriers next generation of combination carriers named at New Yangzi Shipyard in China
17:17 Cargo transportation via Northern Sea Route can reach 17 million tonnes in 2018
17:03 Savannah container trade up 12 percent in September 2018
16:55 PGRK: sales strategy of Pavlovskoye deposit project is focused on foreign markets
16:33 SITC Logistics Group signs strategic cooperation agreement with Chengdu Port Investment Group and Guangzhou Port Logistics Group
16:03 NYK and Horiba to develop a new sulfur-in-oil analyzer for ships
15:34 Thames freight volume rises by 40% as Thames Vision strategy starts to bear fruit
15:33 Port of Rotterdam Authority and research institute TNO present results of the study at IMO meeting
15:31 Dublin Port volumes grow by 4.7% in first nine months. By year end, 36% growth in just six years
15:03 Chinese Lingang group invests 85 million euros in Zeebrugge inner port
14:47 Practical aspects of LNG bunkering to be discussed at the dedicated conference in Moscow on October 24
14:33 Nouryon, Tata Steel, and Port of Amsterdam partner to develop the largest green hydrogen cluster in Europe
14:24 Bunker prices may change irregular next week amid rising volatility on global fuel market, expert says
14:11 Tallink and Rauma marine constructions sign letter of intent for the construction of new shuttle ferry
14:02 VesselMan and DNV GL team up to offer optimized solution for dry-docking management
13:30 Project Forward paves the way for meeting IMO’s reduction on CO2 emissions
13:14 Equinor’s share saving plan allocates shares
13:02 Damen Shipyards Group and Abu Dhabi Ports sign contract for two Damen ASD Tugs 2411
12:52 Volumes transported by TransContainer’s flatcars and containers grew by 5.1% Y-o-Y to 1.38 million TEUs
12:43 Diana Shipping announces direct continuation of time charter contract for M/V Astarte with Glencore
12:40 Damen Shiprepair Oranjewerf adds three new certifications
12:30 Vympel Shipyard launches third coast guard boat of Project 1496М1, Lamantin, for FSB Border Guard Service
12:11 Equinor focuses NCS portfolio through sale of non-core discovery
11:51 Securitas Technology BV installing cameras in the Port of Rotterdam
11:28 HII starts fabrication of amphibious assault ship Bougainville (LHA 8)
10:55 Seafarers’ mental health is focus of new training programme offered free to mariners worldwide
10:51 RF Navy’s Pacific Fleet detachment to conduct exercise East China Sea
10:13 Ulstein secures contract for design of Jones Act compliant SOV vessel
09:58 Brent Crude futures price up 0.07% to $79.99, Light Sweet Crude – up 0.1% to $67.61
09:39 Myanmar officials trained in forming maritime transport policy
09:14 Baltic Dry Index is down to 1,554 points

2018 October 17

18:03 PGNiG and Venture Global LNG announce LNG Sales and Purchase Agreements for 2 million tonnes per year
17:46 The Freeport of Riga Authority continues to develop cooperation with China
17:22 Port Manatee enjoys record fiscal year with diverse growth
17:00 North Sea Port and Titan LNG successfully supply sea-going vessel with LNG fuel
16:55 33 LNG carriers and 8 gas condensate carriers with export cargo left port Sabetta in April-June 2018
16:24 Baku International Sea Trade Port launches two new tugboats
16:02 Hapag-Lloyd announces General Rate Increase for East Asia to Mexico, Central America, West Coast of South America, Caribbean & Panama trade
15:46 New BIMCO & IBIA Bunkering Guide available
15:23 NOVATEK and Fluxys plan to build an LNG terminal in Rostock
15:02 NYK develops original software that diagnoses combustion chamber problems
14:40 RF Government allocates RUB 8.4 billion for the Far East development
14:21 Scorpio Bulkers announces time charter-out agreements
14:03 CMA CGM implements Empty Repositioning Surcharge for exports from all Turkish ports
13:32 Ørsted contracts Van Oord for cable installation Borssele I & II
13:21 Throughput of Ukraine’s seaports in 9M’18 fell by 1.7% Y-o-Y to 95.9 million tonnes
13:04 CMA CGM to introduce new BAF on Asia-Africa trade
12:30 GTT and Dongsung Finetec sign a Memorandum of Understanding
12:02 Maritime and Port Authority of Singapore and partners sign MoU for 3D printing facility and applications in maritime sector
11:53 Identifying barriers to cutting emissions through just-in-time operations
11:27 Norddeutsche Reederei H. Schuldt joins V.Group
10:50 Brent Crude futures price down 0.09% to $81.34, Light Sweet Crude – up 0.06% to $71.88
10:42 CMA CGM to introduce new BAF on Europe-Africa trade
10:37 Damen Shipyards Galati hands over 74-metre fishery research vessel to Angolan government
10:27 Maritime Arctic Competence Center opens in Saint-Petersburg
09:42 KN invests in environmental protection measures
09:20 Baltic Dry Index is down to 1,578 points

2018 October 16

18:33 Maersk Line announces new FAK rates from Mediterranean to West and Central Asia
18:03 ABS holds two seminars at the 58th Genoa International Boat Show