Baltic ferry operator AS Tallink Grupp (Tallink) said its fuel costs for continuing operations jumped by €5.2 million ($6.6 million), or 13 percent, year-over-year for the third quarter of 2012, Ship & Bunker reports.
After factoring in the closure of the company's Finland-Germany operations, the increase is a more modest €1.2 million ($1.5 million).
Despite the higher fuel costs, Tallkink increased its net income for the quarter 22 percent to €49.6 million ($63.4 million).
The company's sales grew, boosting the total number of passengers 2 percent to 2.8 million for the quarter and increasing revenue by 3.8 percent to €282.4 million ($361.1 million).
Adverse weather early in the quarter pushed Tallink, which operates ferries between Estonia, Finland, Sweden, Latvia, and Germany, to spend more on promotional activities for July bookings, but the company compensated with shop and restaurant sales.
In the face of high bunker prices, the company says it has been taking steps to improve its vessels' fuel efficiency.
Earlier this year, Tallink installed Alfa Laval's PureDry high-speed separator on one of its vessels, reducing fuel costs by up to 2 percent and reducing waste disposal fees.
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