• 2019 November 8 12:41

    Finnlines Group’s revenue for January–September slightly up YoY to EUR 450.8 million

    Finnlines Group has published its revenue for January–September 2019.

    Emanuele Grimaldi, President and CEO, in conjunction with the review:

    “The Finnlines Group’s revenue for January–September was EUR 450.8 (447.9 in 2018) million – showing a small increase over the preceding year. Earnings before interest, taxes, depreciation and amortisation, EBITDA, was EUR 136.8 (129.0) million. The result for the reporting period was EUR 81.8 million in January–September 2019, compared to EUR 75.3 million during the corresponding period in 2018. In spite of the slowdown in the Finnish economic growth, we are still on track to achieve another excellent result.

    Reducing fuel consumption and cutting harmful emissions have been one of the key elements of our Group’s strategy for a long time. This requires vast amount of investments, which we carried out during the past years. Technology is an important but not the only solution. Apart from investing in technology, various other actions are needed e.g. in technology and green energy – but also every day actions like fleet changes and route optimisation, fuel monitoring and propulsion improvement and vessel lengthening investments. All these actions and investments – worth around EUR 200 million, which have been completed – were aimed at improving energy efficiency and thus reducing emissions. The results have been distinctive and all of the above have contributed to lower emissions in CO2, SOx and NOx.

    We have an embedded philosophy within the Grimaldi Group systematically optimise our daily operations, enhance the use of our fleet and the return on capital employed and, more importantly, invest in green technology, already long before and, also, beyond regulatory guidelines. Our engineers, with a very long track-record, have analysed the ways and technology and required measures how to save fuel and thus lower the overall emissions. At present, Finnlines have two major newbuilding programmes running in which our engineers have contributed to make these vessels flagships, both in terms of size and technology. We have ordered three ultra-clean ro-ro vessels, which are designed to produce zero emission in port and aimed at pushing beyond the green scores of ro-ro in the Baltic. Furthermore, we are ordering two Superstar ro-pax vessels, which will be best and most environmentally friendly units in their category – half consumption and double capacity, as well as other green features. Approximately 90% of Finland’s exports and 80% of imports is transported via seaways and therefore it is worth emphasising that our ro-pax vessels offer to customers – both to corporate clients and also to passengers – a very sustainable liner service, since our ro-pax vessels combine cargo and passenger traffic in an eco-efficient way and our high utilisation rates in those ro-pax routes guarantee them the possibility to carry their goods or travel in a sustainable and responsible way.

    To continue to sail ahead of the waves, Finnlines has the right strategy. Firstly, we are investing in larger and environmentally sound vessels, thus providing our customers most modern vessels to grow together with us. Secondly, we are on track on our financial performance and Finnlines Group is a solid company with 56.0% equity ratio and with Net debt to EBITDA at 2.4. Thirdly, we continue to invest in sustainable development with our “next-generation” vessels. It is worth mentioning that Finnlines’ EUR 500 million investment programme must be among the most sizeable investments by a Finnish company published recently.”

    Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea and the North Sea. 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 November 18

12:53 Vympel Shipyard delivers Grachonok-class special purpose boat to Federal National Guard Troops Service
12:32 Average wholesale prices for М-100 HFO down to RUB 8,159 in RF spot market
12:09 Kim Heng signs MoU with subsea cable installer for offshore windfarm cable-laying projects in Taiwan
11:51 New national port operator WT Terminal established in the Freeport of Riga
11:09 Stena Line takes delivery of new ferry Stena Estrid
10:54 Series of eighth dry cargo carriers of Project RSD32M completed with delivery of Anatoly Nikolayev
10:33 Bunker sales at the port of Singapore in Jan-Oct’2019 fell by 6.4% Y-o-Y to 38.92 million tonnes
10:19 MABUX: Bunker market this morning, Nov 18
10:15 Port of Singapore throughput in Jan-Oct’2019 declined by 0.6% to 520.7 million tonnes
09:52 DEME and Royal IHC launch TSHD MEUSE RIVER
09:34 Brent Crude futures price is flat at $63.3, Light Sweet Crude – at $57.83
09:32 IMO's working group agrees National Action Plans – draft MEPC resolution
09:20 Baltic Dry Index is down to 1,357 points

2019 November 17

16:12 Port of Dover wins ESPO Award 2019
14:47 Aker Solutions and leading operators join forces to qualify subsea gas separation
14:12 Wight Shipyard Co to build an innovative hybrid CTV for CWind
12:42 PSA Marine and Wartsila join hands to tackle climate emergency
11:38 A.P. Moller-Maersk improves operational profitability
10:15 ABS and Arista launch smart shipping journey

2019 November 16

16:42 Team Tankers International Ltd. announces Q3 2019 results
15:02 GasLog places NOK 900M of senior unsecured bonds due 2024
14:23 BTG and GoodFuels preparing for major investment in bio-refinery to support shipping’s low carbon fuels demands
13:41 Third L-class delivered in China
12:32 Seaspan to purchase a fleet of six containerships on long-term charter for $380 million
11:28 Mammoet inks agreement with Port of Coeymans Marine Terminal to strengthen presence along East Coast
10:18 Metal Sharks delivers pilot boat duo to BCMT

2019 November 15

18:09 Coast Guard medevacs cruise ship Aida Perla passenger just off Ponce, Puerto Rico
17:48 Sovcomflot reports its results for third quarter and nine months of 2019
17:23 Wärtsilä and PSA Marine collaborate to achieve clean energy shipping
17:15 Bollinger Shipyards contracted to build ocean transport barge
17:00 Composit supports 7th International Forum of Dredging Companies as its Sponsor
16:57 Ulstein unveils its concept of the first hydrogen powered offshore vessel
16:36 RF Government separates positions of Deputy Transport Minister and head of Rosmorrechflot
16:14 IMO holds training on impacts of anti-fouling systems and ships’ biofouling on marine environment
15:39 Norway boosts IMO's GreenVoyage-2050 GHG project
15:11 New Wärtsilä Expertise Centre provides value-adding lifecycle support
14:57 LUKOIL commissions phase three facilities at Filanovsky field
14:30 NSR cargo traffic totaled 26 million tonnes year-to-date, up 63.5% YoY
14:13 Georgia Ports Authority up 3.5 percent to 428,400 TEU in October 2019
13:13 Diana Shipping announces direct continuation of time charter contract for m/v Medusa with Cargill
12:51 Multipurpose Reloading Complex reports 4-fold increase of allocations for environment protection to RUB 11.5 million
12:32 ABI Research: Commercial fleets looking to tech to accelerate ROI in the face of rising costs, competition, and uncertainty
12:13 Port of Oakland names Danny Wan Executive Director
11:28 ESL Shipping participates in Intelligence Hunt
11:00 CMA CGM to apply GRI from Canada West Coast to worldwide destinations (Excluding EU, Russia & USA)
10:41 Delft Dynamics, Next Ocean and Damen perform qualification test in North Sea
10:40 Gremyashii corvette of RF Navy’s Nothern Fleet to be tested in White Sea
10:16 Training ship Perekop of RF Navy's Baltic Fleet arrives in Republic of Myanmar
09:54 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:39 MABUX: Bunker market this morning, Nov 15
09:32 Brent Crude futures price is up 0.45% to $62.56, Light Sweet Crude – up 0.51% to $57.06
09:13 Baltic Dry Index is up to 1,364 points

2019 November 14

18:19 French Prime Minister Edouard Philippe inaugurates CEVA Logistics’ new headquarters in Marseille
18:00 Boosting handling of cargo bound for Arctic considered as strategic development vector of Murmansk Commercial Seaport
17:41 Port of Liepaja (Latvia) handled 5.92 million tonnes of cargo in 10M'2019, down 5.1% Y-o-Y
17:20 Gasunie, EBN, Port of Amsterdam and Tata Steel work together on the development of a CCUS project in the North Sea Canal area
16:49 Hung Hua Construction of Taiwan orders third Fast Crew Supplier this year to support offshore wind ambitions
16:36 Main engines loaded onto second serial ship of PV22 project at Nevsky Shipyard
16:15 Hapag-Lloyd announces rates from East Asia to North Europe and Mediterranean
15:59 Yevgeny Savkin appointed as General Director of Novyie Kommunalnyie Tehnologii in Ust-Luga port