• 2019 May 8 12:10

    Finnlines Group’s revenue for Q1’19 was EUR 137.6 million, up 2.0% Y-o-Y

    Emanuele Grimaldi, President and CEO of Finnlines Group, commented in conjunction with the Finnlines Group’s Financial Review:

    “The Finnlines Group’s revenue for January–March 2019 was EUR 137.6 million, which was an increase of 2.0 per cent compared to the same period last year. The result for the reporting period was EUR 16.2 million compared to EUR 16.5 million in January–March 2018. Earnings before interest, taxes, depreciation and amortisation, EBITDA, was EUR 34.2 million compared to EUR 34.3 million in January–March 2018. This result can be considered to be very good taken into account the fact that the growth of Finnish exports and imports has slowed down compared to the previous year.

    About 90 per cent of foreign trade is transported by sea globally and shipping is of high importance to the Finnish industry and welfare. In 2018, sea transport volumes rose to an all-time high – Finnish sea transport increased to a record level and was 103.8 million tonnes. Thus, maritime transport is vital to Finland’s foreign trade and, in particular, requires modern, frequent and regular liner traffic services, which Finnlines offers to its customers. Finnlines operates in the Baltic Sea, the North Sea and the Bay of Biscay.

    Finnlines is committed to the IMO’s (International Maritime Organization) GHG strategy. The goal is to reduce CO2 emissions by at least 50 per cent by 2050 compared to 2008. We have ordered three modern, green ro-ro vessels to add up further 17,500 lane metres to our services. Further resources will be invested in a new series of modern large green ro-pax vessels to be delivered within a time span of three to four years. These vessels will be our Superstar ro-pax vessels which will carry around 1,100 passengers and they will also meet the highest technical and environmental standards.

    Through these investments, which total around EUR 500 million, Finnlines continues to deploy larger and larger vessels in both the ro-pax and ro-ro segments, creating better economies of scale. We have already improved the utilisation of our existing fleet and this way we continue our efforts on further improving our operational and environmental efficiency. These major investments will further contribute to reducing fuel consumption as well as CO2 and other emissions.

    We continue to focus on our customers and sustainability. With our rejuvenated vessels we can keep our reliability and efficiency on a high level. Automatisation, digitalisation, and the development of emission-reduction technology will push our industry towards a low carbon future. Furthermore, our EUR 500 million investments in new technology, digitalisation, and green shipping prove that we are dedicated to be the forerunner of that development. Reducing fuel consumption and emissions means we remain both competitive and firm in our commitment to contribute to cleaner shipping. We are also on track to deliver a very good result again in 2019, and to achieve our strategic goals – both financial and environmental.”

    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.




2020 February 19

14:51 FESCO launches new regular container train from Novosibirsk to Khabarovsk
13:48 Russia’s bunker market fell by over 6% YoY to 11 million tonnes in 2019
13:06 Rosneft’s hydrocarbon production in 2019 remained flat YoY at 5.79 mmboed
12:39 Rosneft reports 29-pct increase of its 2019 net income to RUB 708 bln
12:05 Philippine Ports Authority net income soars 31% in 2019
11:47 Konstantin Anisimov appointed as Deputy Head of Federal Marine and River Transport Agency
11:00 Position of the European Federation of Inland Ports (EFIP) on the European Green Deal
10:52 Golar Power forms partnership with BR Distribuidora
10:41 IMO continues its work to counter maritime crime
10:21 MABUX: Bunker market this morning, Feb 19
10:18 Finland accedes to Cape Town Agreement on fishing vessel safety
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia
09:32 Brent Crude futures price is up 1.07% to $58.37, Light Sweet Crude – up 1.05% to $52.84
09:19 Milaha takes part in the Qatar Maritime and Logistics Summit as its main sponsor
09:15 Baltic Dry Index is up to 450 points

2020 February 18

18:00 Petronas signs 12-year time charter party for two new build LNG vessels
17:36 MARAD announces more than $280 million in grants for US ports
17:27 Jotun Marine: Proactive measures needed to improve hull performance
17:06 CMA CGM announces FAK rates from the Mediterranean to USEC and USGULF
16:43 EIB supports refurbishment of Port of Ystad to accommodate climate-friendly vessels
16:21 Oboronlogistics designated as sole executor of works and services related to delivery of goods by sea to Kaliningrad Region
15:36 CMA CGM announces Emergency Space Surcharge for exports from Russia & Baltic
15:33 Stena Bulk and Admiral Makarov University agree to make company-branded class
15:04 Port of Singapore to give 50% port dues concession to passenger vessels
14:40 Borr Drilling enters into new financing arrangement for a newbuild jack-up drilling rig
14:07 Volga Shipping Company to convert three tankers into dry cargo carriers in 2020
13:24 DP World to delist from Nasdaq Dubai
12:48 Bunker prices go down at the Far East ports of Russia (graph)
12:10 E.ON, Rotterdam Port Authority and DeltaPort Niederrheinhäfen agree to develop an infrastructure for freight and passenger ships
11:04 GTT receives two orders from Hyundai Samho Heavy Industries and Hyundai Heavy Industries
10:52 Average wholesale prices for М-100 HFO grew to RUB 10,253 in RF spot market
10:21 MABUX: Bunker market this morning, Feb 18
10:19 Linkspan connection/disconnection service tariff changed at Ust-Luga ferry terminal
09:54 Divers of RF Navy's Black Sea Fleet started preparing for "Depth-2020" competition
09:33 Brent Crude futures price is down 1.13% to $57.02, Light Sweet Crude – down 0.76% to $51.92
09:15 Baltic Dry Index is up to 434 points

2020 February 17

18:37 CMA CGM announces FAK rates from Middle East Gulf & Pakistan to North Europe, the Mediterranean and Red Sea & Red Sea
18:06 European Shipping Week 2020 opens with the latest figures on European shipping
17:50 Gazprom Neft’s supplies of low-sulphur marine fuel to domestic market to exceed 1.5 million tonnes in 2020
17:36 SCHOTTEL secures contract to provide propulsion units for a newly built harbour tug
17:18 BlueWater Reporting issues ISC-North America trade report
17:05 Saga Subsea receives new contract
16:30 IMO’s Sub-Committee on Pollution Prevention and Response meets this week
16:05 Reach Subsea awarded several contracts and call-offs under frame agreements for 2020 execution
15:54 Wärtsilä to supply customized Hybrid Scrubber solution to two Norwegian Cruise Line ships
15:06 Sea Port of Saint-Petersburg's allocations under its social programme totaled RUB 47 million in 2019
14:42 Container throughput of Hong Kong port (China) fell by 20.4% to 1.35 million TEUs in Jan’2020
14:17 Damen holds keel-laying ceremony for Nigerian Navy landing craft
13:38 WFW advices BPER BANCA on Marittima Emiliana financing
13:35 RusHydro and Kemerovo Region Government sign cooperation agreement to complete construction of Krapivinskiy hydroelectric complex
12:09 CMA CGM announces implementation of Panama Canal Adjustment Factor
11:05 Sea Port of Saint-Petersburg took part in Kirovsky District exhibition
10:31 Bunker sales at the port of Singapore in Jan’2020 grew by 7.5% Y-o-Y to 4.51 million tonnes
10:17 Diana Shipping Inc. announces cancellation of the sale of a panamax dry bulk vessel, the M/V Calipso
10:03 MABUX: Bunker market this morning, Feb 17
09:50 Port of Singapore throughput in Jan’2020 declined by 2.1% to 50.88 million tonnes
09:36 Brent Crude futures price is down 0.28% to $57.16, Light Sweet Crude – down 0.1% to $52.27
09:34 CMA CGM announces FAK rates from India and Sri Lanka to North Europe and the Mediterranean
09:19 Fincantieri delivers “Scarlet Lady”, the first Virgin Voyages ship
09:18 Baltic Dry Index is up to 425 points