• 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.




2019 August 25

13:19 SCHOTTEL propulsion systems part of Norled’s path towards green future
12:38 Eastern Shipbuilding delivers fifth vessel since Hurricane Michael
11:45 GRS signs strategic partnership with SerFac
10:35 USCG halts illegal charter in Miami

2019 August 24

15:44 Vattenfall inaugurates Scandinavia’s largest offshore wind farm
14:42 Eastern Shipbuilding delivers the CAPT. JIM McALLISTER with a USCG Sub-M COI to McAllister Towing
13:26 Gulf of Mexico Lease Sale yields more than $159m in high bids, continues Upward Trend Under Trump Administration USDoI
11:38 Grieg Star takes delivery Supramax vessel the Star Damon
10:58 DNV GL launches renewables certification operations in U.S.

2019 August 23

18:36 Bridge parts transported for second Theemsweg route bridge
18:06 CMA CGM announces GRR from Asia to East and South Africa, Indian Ocean
17:55 Onezhsky Shipyard launches TSHD Yury Maslyukov
17:36 First CLEANBU wet-dry cargo switch with significant positive environmental impact
17:20 Atomflot and Baltiysky Zavod sign agreement on construction of fourth and fifth nuclear-powered icebreakers of Project 22220
17:05 CMA CGM announces FAK rates from Asia to the Middle East Gulf
16:45 MPI Resolution started blade repair campaign in offshore wind farm
16:35 PIL’s fleet attains Environmental Ship Index (ESI) certification
16:05 Botlek becomes Vopak's styrene hub
15:44 First-of-a-kind floating nuclear power unit Akademik Lomonosov leaves Murmansk for Pevek
15:23 CMA CGM will not use the Northern Sea Route
15:17 Vessel powered by ABB Azipod® propulsion reaches North Pole for the first time in history
15:13 NOVATEK’s Board recommends 1H 2019 dividend
14:47 PGNiG Group posts more than PLN 22.6bn in revenue for H1 2019
14:16 BC Ferries supports whale research at Galiano Island
13:52 Marsden Point, New Zealand tops BIMCO Terminal Vetting Report
13:29 Missile cruiser Marshal Ustinov entered Mediterranean Sea
13:08 Boskalis half year result 2019 tainted by offshore projects
12:34 Sevastopol Sea Port to be subsidized with RUB 54 million by municipal government
12:08 Bibby HydroMap commences second UXO survey for Vattenfall
11:40 Tests of unique replenishment system of Akademik Pashin tanker successfully completed
11:08 DP World Liège Container Terminal boosts eco-efficiency with Konecranes
10:55 Eesti Energia to use Klaipėda LNG terminal services
10:26 Hamburg, Germany to host 15th Arctic Shipping Summit on 4-5 December 2019
10:07 Bridge parts transported for second Theemsweg route bridge
09:53 Brent Crude futures price is up 0.1% to $55.98, Light Sweet Crude – up 0.01% to $55.35
09:34 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:19 Baltic Dry Index is up to 2,118 points
09:07 Damen wins UX Design Award for Human Machine Interface for Tugs
08:35 MABUX: Bunker Market this morning August, 23
08:07 World’s largest all-electric ferry completes its maiden trip

2019 August 22

18:04 Australian Maritime College and KONGSBERG eye potential for VR training with renewed support program
17:39 Nordic Engineering sponsors roundtable meeting “Import Substitution in Russian Shipbuilding: Ambition and Reality”
17:04 DOF Subsea issues Financial Report for 2nd quarter of 2019
16:47 Karelia proposed construction of deep-water freight and passenger port Kem’
16:25 Bunker prices go down at the Far East ports of Russia (graph)
16:04 Navios Acquisition reports results for H1 2019
15:53 PJSC TransContainer reports its Financial Results under IFRS for 6M'2019
15:12 ReCAAP ISC has released Guidance on Abduction of Crew in the Sulu-Celebes Seas and Waters off Eastern Sabah
15:04 Essar Ports expects to meet 60 MT target for FY20
14:31 Höegh LNG announces interim results for the quarter and half year ended 30 June 2019
14:14 Peel Ports takes important step towards being Brexit ready
13:56 Yamal LNG shipped twenty million tons
13:35 Arctic block of Far East Investment and Export Agency headed by Dmitry Fishkin
13:13 Sea Machines successfully deploys industry’s first autonomous spill-response vessel
12:28 Fire onboard MV Pyotr Tchaikovsky kills one in Saint-Petersburg
12:13 Frontera Offshore and DOF Subsea join forces for the Subsea Construction and IMR Mexican market
11:31 Kalmar to enhance STS crane capabilities at EUROGATE Tanger
11:21 HELCOM publishes report on noise sensitivity of animals in the Baltic Sea
10:59 HELCOM gets a new Executive Secretary
10:35 Caterpillar Eurasia and Admiral Makarov University agreed on establishing a brand new up-to-date training center