• 2021 January 9 14:08

    Viking Line concludes an exceptional year

    2020 was an exceptional year for the whole world, and for Viking Line as well. Due to the pandemic, the business environment was extremely unfavourable, with the result being enormous economic consequences for the shipping company. Only four of Viking Line’s seven vessels were in regular service during the year, and passenger volume fell 70 per cent compared to 2019.  But we can see light at the end of the tunnel. In 2021, Viking Line’s new, climate-smart vessel Viking Glory will be delivered and is already attracting great interest.

    In 2020, Viking Line was forced to run its operations in an environment where demand collapsed due to travel restrictions and other constraints. Within a short time, the company lost virtually all of its revenue while still facing a large share of its costs. A total of 1,927,302 passengers travelled with the company in 2020. The figure for 2019 was 6,300,480. Despite reduced traffic, the number of cargo units was 125,693 (133,940), which correlates with the strong demand for cargo capacity.

    So, of the company’s four operational segments – cargo, scheduled service, cruises and passenger cars – three were disrupted by Covid-19. Measures have been implemented to ensure the company’s liquidity by adjusting its cost structure and making different financial arrangements. Viking Line’s business model is structured in such a way that cargo traffic alone will not cover variable operating costs – not even since staffing has been reduced to a minimal level.

    One bright spot during the year was the great demand in cargo traffic, which shows the importance of maintaining exports and imports between countries even under difficult circumstances. A number of volume records were set, and the load factor was consistently at a very high level. This applies especially to the vessels serving the Turku–Mariehamn–Stockholm and Helsinki–Tallinn routes.

    Viking Line has ensured that scheduled service remains in place on the cargo routes where there is demand from our cargo customers.

    “In maritime transport, the Covid-19 pandemic has hit passenger transport hardest. Our staff’s engagement and loyalty have been admirable, and their great efforts during this difficult time are greatly appreciated. Viking Line will come out of this stronger. We are now preparing for the time that will come after the pandemic and look forward to countries reopening soon thanks to the vaccines now being rolled out. It is important that the vaccination process is carried out quickly and efficiently in the countries we serve so that restrictions can be safely lifted again. On January 26, we will celebrate the launch of our new vessel, Viking Glory. We will take delivery in late autumn 2021. The vessel will be unique and beautiful – both inside and out. We are already seeing enormous interest in the vessel, and we are happy about this. It gives us faith in the future,” says Viking Line’s CEO, Jan Hanses.


2021 March 8

16:42 Maureen Bannerman to take over as APM Terminals Bahrain new Managing Director
15:18 Kari Wilkinson takes the helm at Ingalls Shipbuilding as president
14:39 EPS, OCI, and MAN partner to adopt methanol and ammonia as marine fuel
13:56 USCG crew conducts 44 mile tow west of Sanibel Island
12:31 Valaris receives court approval of Chapter 11 plan of reorganization
11:52 AMSA: National float-free EPIRB inspection campaign delivers great results so far
10:31 MABUX: Bunker market this morning, Mar 08, 2021

2021 March 7

16:14 Vard Marine announces change in Vice President of Ottawa operations
14:27 VOS Singapore delivers MWV Falgout to end client
13:41 USCG concludes monitoring diesel fuel clean-up near Sitka, Alaska
12:53 Seaspan acquires two 15,000 TEU containerships on long-term charters
11:36 Trelleborg acquires leading supplier of composite hoses
10:54 Vard Marine secures a new contract for the design of an amphibious and military sea transport for the Chilean Navy Escotillón IV Program

2021 March 6

18:20 Philly Shipyard begins fabrication on second NSMV
15:08 e5 Lab establishes Marindows Inc.
13:27 New wood-chip carrier for Hokuetsu Corporation delivered
12:31 Saipem and the Norwegian company, Elkem, sign a feasibility study agreement for the decarbonisation business
11:43 TDI-Brooks International, Inc. completes two EBS programs offshore Angola
10:59 Torqeedo and Poseidon announce new, commercial-grade electric drive for passenger ferries.

2021 March 5

18:27 Logimatic signs contract with Hapag-Lloyd for implementation of SERTICA on more than 70 of the largest container vessels
17:39 Ilya Muromets icebreaker to participate in expedition of RF Navy’s Northern Fleet and Russian Geographical Society
17:01 Association of Lithuanian Stevedoring Companies appoints new President
16:37 Keel laying ceremony for ‘Green Jade’ was held at CSBC’s shipyard in Kaohsiung, Taiwan
15:44 Throughput of Port Vysotsky LLC in 2M’2021 fell by 2.1% Y-o-Y
15:22 Throughput of Taganrog port in 2M’2021 climbed by 7% Y-o-Y
14:56 Throughput of port Kavkaz in 2M’2021 rose by 70% Y-o-Y
14:47 IAA PortNews' greetings on the International Women's Day!
14:33 Krasnoye Sormovo to invest RUB 250 million in technical upgrading this year
14:15 HHI Group launches “Hydrogen Project” with Saudi Aramco
13:11 Eco-bonus for sustainable transport to and from the Stockholm region via Ports of Stockholm
12:48 Oboronlogistics to take part in preparation of Strategy for Development of Russia’s Shipbuilding Industry
12:32 ICTSI 2020 net income up 1% to US$101.8mln
12:26 Global Ports Investments announces its operational results and publishes its consolidated financial statements for 2020
12:01 EGS extends rail link Rotterdam-Bavaria
11:31 DNV advises PGE Baltica on setup of a joint venture structure to develop, build and operate two offshore wind plants in the Baltic Sea
11:01 LR completes purchase of C-MAP Commercial from Navico Group
10:45 Shipping company and chief officer convicted for dumping garbage in Great Barrier Reef
10:44 MABUX: Bunker market this morning, Mar 5, 2021
10:40 RS contributes to improvement of STCW audits
10:18 Solstad Offshore announces contracts awards for two subsea construction vessels
10:07 Aker Solutions awarded Åsgard B modification contract
09:44 Bunker prices are stale at the Port of Saint-Petersburg, Russia (graph)
09:27 Oil market sees steady growth of prices
09:10 Baltic Dry Index as of March 4

2021 March 4

18:31 Royal Doeksen takes over Vuyk Engineering Rotterdam from Royal IHC
18:11 A.P. Moller- Maersk to pioneer a first-ever block train from Japan to UK via Trans-Siberian railway
18:03 Bunker Weekly Outlook, Week 09, 2021
17:59 Torqeedo and Poseidon announce new, commercial-grade electric drive for passenger ferries
17:18 Rosmorport obtains approval of Glavgosexpertiza for dredging under project on construction of LNG terminal in Kamchatka
16:44 Nefteflot lays down two survey ships of Project RDB66.62
15:15 Global shipping CO2 emissions decreased 1% in 2020 - Marine Benchmark
14:32 BW Group and Miros launch fuel-saving, emissions-reducing JV
14:05 Zvezda Shipyard lays down seventh Aframax tanker, Academic Ivanter
13:32 IAA PortNews to hold webinar dedicated to Yenisey as one of Siberian waterways on March 17
13:01 APM Terminals Valencia assembles three new Rubber Tyred Gantry cranes
12:03 Expeditionary Survey Boat Hydrograaf named at Damen Shipyards Den Helder
11:46 Roadmap approved for reduction of coal industry’s environmental impact
11:03 DNV supports Hapag-Lloyd’s milestone green financing
10:29 Gazpromneft-Lubricants solidifies the cooperation with FESCO
10:17 DuPont awarded grant from Singapore’s National Water Agency to increase sustainability of desalination for clean water