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  • 2021 March 15 10:38

    Development of Nordic gas market continues

    Gasum Group reported its key financial indicators January 1 to December 31, 2020:

    • Group income totaled €772.0 million (December 31, 2019: €988.7 million)
    • Group adjusted operating profit was €33.8 million (2019: €28.9 million) 
    • Balance sheet total came to €1,362.0 million (December 31, 2019: €1,163.2 million)
    • The Group’s solvency remained strong in the reporting period, with the equity ratio being 36.0% (December 31, 2019: 44.6%)

    Gasum Group CEO Johanna Lamminen comment on 2020:

    “Despite the exceptional circumstances, we succeeded in advancing our strategy as planned, which required hard work in an increasingly competitive market. The importance of gas as an energy source over the longer term will increase further in industry and maritime transport in particular, as the Nordic countries are taking steps towards carbon-neutral societies. Regardless of the uncertainties caused by the COVID-19 pandemic, we were able to ensure business continuity and progress in our projects. The impacts of the pandemic were reflected in our business operations in particular as start-ups of our new plants being pushed back and our new customer projects being delayed as well as in the growth targets set by us. I would like to thank our employees, customers and partners for well-functioning and flexible cooperation in an operating environment that has been challenging for all of us.

    In total, the Group’s gross income in the financial year were €772.0 million, of which other operating income €107.7 million, including among others realized and unrealized commodity derivatives results. The Gasum Group’s revenue for the period under review totaled €664.3 million, down 28.2% on the corresponding period a year earlier. The decline in revenue was caused primarily by the European trend in the sales price of gas.

    In maritime transport, demand for cleaner fuel solutions and interest in gas-powered heavyduty vehicles continued to grow in 2020. As part of our strategy execution, we closed the acquisition of Linde AG’s LNG and Biogas business and Nauticor’s Marine Bunkering business. The transaction expanded our supply of gas solutions in the Nordics particularly in maritime transport and heavy-duty road transport while also expanding our gas filling station network.

    The year also saw us continue the expansion of the Nordic gas filling station network serving heavy-duty vehicles (HDVs) and opened eight new filling stations in the Nordic countries. The number of gas-powered HDVs increased by more than 400 new vehicles in the Nordics during the year. Companies upgrading their fleets included Posti Freight Services in Finland with its ten new biogas-fueled trucks and Bring Åkeri in Sweden with its six new biogas trucks.

    Gas is also attracting interest among forerunners in maritime transport, and we are continuously developing our fuel offering and services to meet the maritime sector’s needs. To provide our shipping customers with a flexible service across an even more extensive geographical area, we entered into partnership with Pavilion Energy. The partnership enables us to provide customers with liquefied natural gas (LNG) in the Singapore region and in Northern Europe. We also started regular deliveries of a fuel blend containing renewable liquefied biogas (LBG) to our maritime transport customer Preem in Sweden.

    In line with our strategy, we also improved access to renewable energy and acquired a biogas plant in Skövde and made an investment decision concerning the construction of an industrial-scale biogas plant in Götene, Sweden. In Finland, the commercial use of the expanded Turku biogas plant - also Finland's first plant producing LBG - began, and at the end and at the end of the year we took into use a transfer station for biowaste in Vantaa. We also entered into our first long-term Power Purchase Agreement (PPA) with ABO Wind Oy on the output of a wind farm located in North Ostrobothnia, Finland.

    There is growing industry interest in the use of gas in the Nordic countries. We delivered LBG to the cleantech company Forchem and entered into an LNG supply contract with the Norwegian reinforced steel company Celsa Armeringstål.

    We also entered into a portfolio management cooperation agreement with the Finnish energy company Keravan Energia and expanded our role in the Nordic power market by becoming a member of the Nordic power exchange of Nasdaq OMX.”

     




2021 October 18

18:07 OneOcean Group brings voyage optimisation solutions to Marlink Partner Programme
17:53 NOVATEK held its first Arctic LNG Projects Shipowners Conference
17:49 MOL tabletop drill prepares for serious marine accident
17:29 Over 40 ships and boats of RF Navy's Black Sea Fleet took part in large-scale exercise at Opuk training ground in Crimea
16:52 Icebreaker Kapitan Khlebnikov to help deliver new components for the Vostok Station in the Antarctic
16:16 Throughput of Russian seaports in 9M’2021 climbed by 1.7% (detalization)
15:48 Four industry focused educational institutions to take part in 5th LNG Fleet, LNG Bunkering and Alternatives conference
15:25 Baltiysky Zavod shipyard casts forth one-piece propeller for Project MR-50 product tanker
15:03 Nemport orders fleet of Konecranes Noell RTGs
14:13 Average spot market price for Russian M100 product rose to RUB 29,186 pmt
13:51 MOL, MAN ES and MES-M sign MoU aiming to order ammonia fueled main engine for ships
13:42 National Chamber of Engineers supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:00 Port of Ventspils throughput in January-September 2021 fell by 14% YoY
12:40 The Port of València will install a hydrogen supply station in January
12:36 Port of Helsinki throughput in January-September 2021 rose by 7.9% YoY
12:14 Port of HaminaKotka cargo turnover in 9M’2021 fell by 2.1%
11:29 Container throughput of Hong Kong port (China) in January-September 2021 rose by 0.1%
10:57 APM Terminals appoints new Head of Decarbonisation
10:48 Port of Liepaja throughput in 9M’2021 climbed by 8% Y-o-Y
10:25 Global Ports’ Consolidated Marine Container Throughput increased by 4.0% y-o-y in 9m 2021
09:53 MABUX: Bunker prices may rise on Oct 18
09:46 Northern Sea Route cargo traffic rose by 4.5%
09:29 Crude oil prices rise driven by roaring demand
09:13 Baltic Dry Index as of October 15

2021 October 17

16:28 Revenue Cutter Bear located, ending decades-long mystery
15:19 Port Everglades new Heron Garage touts solar power, moving walkway
14:38 JAXPORT welcomes passenger vessel Ocean Explorer for port-of-call visit
13:27 Canadian fishing company chooses Skipsteknisk design
12:11 Mayflower Wind signs agreement with Gladding-Hearn for design/build of hybrid electric offshore wind crew transfer vessel
11:03 USCG commissions fast response cutter Emlen Tunnell

2021 October 16

12:38 MYCRANE signs MoU with Swiss-based EPCM, PESCO Switzerland AG
10:19 Star Pride delivered at the Fincantieri shipyard in Palermo
09:37 Three zero-emission harbour tugs mark Corvus Energy’s 500th project order
08:16 Rolls-Royce launches mtu hydrogen solutions for power generation

2021 October 15

18:27 Sea Machines uses biofuel to power tug Nellie Bly on long-haul autonomous journey
18:07 Dublin Port Company to open €48m Dublin Inland Port
17:53 Danfoss Editron powering the first fast crew supply vessel able to compete with helicopter transfers
17:33 Tsawwassen First Nation and the Vancouver Fraser Port Authority sign renewed Relationship Agreement
17:09 Sevmash completed manufacturing of sections for offshore ice-resistant fixed platform LSP "A"
16:40 Global Ports Holding positions Kalundborg as an alternative to Copenhagen
16:33 Duisburg Rail Terminal welcomed the one millionth unit since it started the operations in 2013
15:13 Klaveness Combination Carriers signs a Letter of Intent with Shipshave AS to implement its semi-autonomous hull cleaning solution across its fleet
14:31 Wärtsilä next generation navigation simulator to power the Centre of Excellence in Maritime Safety in Singapore
14:09 Coral Consortium working on a water drone to regularly monitor water quality in the basins of the Port of Gdańsk
13:53 Port of San Diego adopts most ambitious maritime clean air strategy of its kind in California
13:22 LNGnews.RU supports 5th LNG Fleet, LNG Bunkering and Alternatives conference as its Media Partner
13:02 A.P. Moller - Maersk enters strategic partnership with Danish Crown on global end-to-end logistics
12:36 GTT is selected by Hyundai Heavy Industries to equip the tanks of two new LNG-fueled container vessels with its membrane containment technology and smart shipping solutions
11:47 Russian-Chinese joint naval exercise is underway in the Sea of Japan
11:23 Transneft Kozmino Port starts construction of maintenance site for servicing mariculture site
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09:51 Rosneft sells 5% in Vostok Oil to a consortium of Vitol and MME
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09:19 Baltic Dry Index as of October 14

2021 October 14

18:05 MOL, SoftBank and e5 Lab start joint studies for next-generation maritime high-speed satellite communications
17:54 Glavgosexpertiza approves construction of tank for light oil products at IPP terminal in Novorossiysk
17:35 Sembo secures $12m investment from Stena Line
17:15 Jan De Nul signs T&I contract for Gode Wind 3 & Borkum Riffgrund 3