• 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.




2020 April 9

18:27 Port of Los Angeles container volumes down 30.9% to 449,568 TEU in March 2020
18:07 ECSA thanks the European Commission for the guidelines on seafarers, passengers and other persons on board ships
18:01 Port of Ventspils (Latvia) handled 3.7 million tonnes in 3M’2020, down 42% YoY
17:35 Tianjin Port Group and Hebei Port Group sign an agreement
17:17 Ministry of Industry and Trade to analyze ship designs for using shipboard equipment of Russian origin
17:05 North P&I Club supports new digital COVID-19 tool from International Group
16:35 COVID-19: CMA CGM launches the BUSINESS CONTINUITY PACK
16:20 Port of Liepaja (Latvia) handled 1.58 million tonnes of cargo in 3M’2020, down 16.3 % Y-o-Y
16:05 Port of Gothenburg offers inland storage of imported goods
15:35 Port of Hamburg container transport by inland waterway up 13 percent to 145,078 TEU in 2019
15:22 Throughput of Taganrog port in 3M’2020 grew by 20% to 780,000 tonnes
15:04 ABS is first in industry to accept 3D models for class surveys
14:26 Novotrans handled first batch of export grain in the port of Ust-Luga
13:37 International Bunker Conference IBC 2020 postponed due to COVID-19
13:17 ABP increases capacity to store refrigerated containers at the Port of Hull
12:53 ABP continue to deliver operational continuity for customers
12:29 Bunker prices are flat at the Far East ports of Russia (graph)
11:30 Construction of innovative training vessel STC Group begins
11:04 Stena Line plans to close the Trelleborg-Sassnitz route
10:28 ABB brings fuel cell technology a step closer to powering large ships
10:18 New restrictions on border crossings in Finland - effects on Finnlines’ passenger services
09:54 Delo Group paid almost 60 billion rubles to PJSC TransContainer minority shareholders as part of the repurchase of 49.6410% shares
09:47 MABUX: Bunker market this morning, Apr 09
09:35 Sovcomflot’s Board of Directors acknowledges Group’s performance in 2019
09:17 Baltic Dry Index is up to 607 points

2020 April 8

18:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea and East Med to the Middle East Gulf & Red Sea
18:06 The Maritime Union of Australia condemn Government for treatment of cruise ship crews
17:36 Estimated March imports at major U.S. retail container ports hit five-year low, declines expected to continue amid pandemic
17:05 PD Ports continues investment in environmentally sustainable technology
16:36 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to Far East
16:35 SCHOTTEL EcoPeller deployed in modernization project for first time
16:13 Port of Tallinn reports its 2020 Q1 passenger and cargo flows
16:05 Gimi receives force majeure claim for FLNG from BP Mauritania
15:44 Allseas wins removal contract for multiple North Sea installations
15:40 KMG Inseneriehituse AS to build bridge for Port of Tallinn
15:04 THE Alliance announces COVID-19 response measures for May and June 2020
14:36 Vyborg Shipyard holds steel cutting ceremony for trawler of Project KMT02
14:02 The Kings of Spain check the maintenance of the supply chain in the port of Valencia
13:43 Lotos shipyard to build four dredgers for Russia’s inland water ways
13:21 Port Kolomna signs agreement with RF Ministry of Industry and Trade for ship srapping grant
13:02 North Carolina Ports completes Turning Basin Expansion Project at the Port of Wilmington
12:42 Shipping credit outlook revised to negative: cash crunch worsens as Covid-19 disrupts trade
12:05 Inland terminals at the Port of Hamburg hit by the corona crises differently
11:30 IAPH Tokyo secretariat transited to remote work from home
11:05 SAFEEN acquires its largest service vessel to date
11:02 BC Ferries adjusted service levels due to Covid-19 pandemic
10:39 ABB increases remote support for ships to help customers during the COVID-19 outbreak
10:38 Port of Gdansk actively supports fight against coronavirus
10:16 Tallink Grupp’s vessels Megastar, Galaxy and Baltic Princess suspend passenger transport to Finland
09:53 MABUX: Bunker market this morning, Apr 08
09:40 Bunker prices start going up at the port of Saint-Petersburg, Russia
09:19 Baltic Dry Index is down to 596 points
08:47 Golden Ocean announces appointment of Ulrik Uhrenfeldt Andersen as CEO

2020 April 7

18:38 RF Government makes big decision to quit transshipment of NOVATEK’s LNG in Norway
17:27 BashVolgotanker opens navigation with first tanker leaving Samara for Kavkaz
17:03 IADC moves its seminar and course to 2nd half of 2020
16:49 RF Navy’s oceanographic research vessel "Admiral Vladimirsky" arrived in the Durville Sea
16:05 ECSA and ETF launch joint project WESS
15:51 Bunker prices are flat at the Far East ports of Russia (graph)
15:43 Port of Rotterdam adds Boxinsider to Portbase