• 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 October 21

18:30 Hyundai Motors to ship 50 hydrogen trucks via the port of Antwerp
18:06 NYK Group dry bulk carrier rescues sailors off the coast of Indonesia
17:36 MAN Energy Solutions to lead Danish consortium developing ammonia-fuelled engine for Maritime sector
17:19 NSR cargo traffic to exceed 31 million tonnes in 2020 – Aleksey Likhachev
17:05 Stena Embla successfully completes sea trials
16:41 Port of Rotterdam throughput in first three quarters of 2020 falls 8.8% short of last year’s total
16:16 Steerprop azimuth propulsion to propel shallow-draught icebreaking walk-to-work vessel
16:05 Port of Rotterdam Authority starts to produce and spread bokashi
15:47 Lenpromavtomatika to supply control system for LNG-powered passenger vessel Chaika
15:33 First Ship-to-Ship LNG bunkering business to commence in Japan
15:04 Optimodal adds new train service between Antwerp and Neuss, Germany
14:04 Northwest Seaport Alliance handles 308,682 TEUs in September 2020
13:30 RF Navy’s frigate Admiral Kasatonov starts anti-submarine exercises in the Barents Sea
13:04 Port of San Diego invites the public to review and provide feedback on the Revised Draft PMPU
12:37 Meeting on implementation of project for development of Kaliningrad seaport infrastructure held in Pionersky
12:32 Lead nuclear-powered icebreaker of Project 22220, Arktika, delivered to Atomflot
12:03 IPCSA expands its membership into South America with its latest member Procomex of Brazil
11:50 BLRT Grupp built unique offshore fish farming barge
11:31 Lead nuclear-powered icebreaker of Project 22220 to start operating in NSR waters from December 2020
11:00 Kongsberg Digital’s K-Sim® Fishery simulator wins the coveted SAFETY4SEA 2020 Training Award
10:25 Yet another batch of large-size equipment for new ethylene plant delivered to Nizhnekamsk
10:02 Yevgeny Norenko takes position of Managing Director at Nobel Brothers and Vimpel shipyards
09:43 Bunker prices rise in the Port of Saint-Petersburg, Russia (graph)
09:24 Oil prices continue decreasing in response to US reserves growth
09:06 Baltic Dry Index as of October 20
09:05 CMA CGM announces PSS from North Europe to Asia
08:21 MABUX: Bunker market this morning, Oct 21

2020 October 20

18:30 APM Terminals expands API offering and terminal coverage
18:17 CMA CGM announces FAK rates from West Med, Adriatic, Black Sea & East Med to the Indian Subcontinent
18:00 Okskaya Shipyard launches second multipurpose dry cargo carrier of Project RSD59 for Astrol
17:36 Equinor signs contract with Skanska for building site preparation and the construction of jetty facilities for the CO2 receiving terminal
17:03 Van Oord becomes the shareholder in Saare Wind Energy
16:38 Wan Hai Lines to launch China – India Service VI (CI6) Service
16:28 Tiksi port expansion is expected as new fields can be discovered in the region
16:03 Jotun offers Superyachts unique lifecycle support with launch of JotunCare
15:44 Rosmorport collects applications for debut bonds in amount of RUB 4 billion
15:30 DCSA publishes standard data definitions to enable just-in-time port calls
15:12 ESPO congratulates Port of Valencia for renewing PERS certification
14:23 Samsung Heavy Industries again chooses Wärtsilä cargo handling system design for new VLEC vessels
13:41 Modernization of port Tiksi to build up throughput to 300,000 tonnes
13:25 Port of Antwerp participates in developing and testing a private 5G network
13:20 Bunker prices are slightly up in the Far East ports of Russia (graph)
13:02 Port Houston container volumes up 1% to 251,524 TEUs in September 2020
12:33 RF Ministry of Economic Development to allocate RUB 2.8 billion for creation of port SEZ in Astrakhan Region
12:19 DNG Energy receives a licence for LNG bunkering in Coega
11:00 KSS Line signs with Hyundai Global Services for smart ship solution powered by Inmarsat and Intellian
10:58 ASW ship Vice-Admiral Kulakov and support vessels of RF Navy’s Northern Fleet enter Greece
10:37 Admiral Makarov frigate of RF Navy’s Black Sea Fleet passes Black Sea straits
10:12 LUKOIL and Rostec sign cooperation agreement
10:02 MABUX: Bunker market this morning, Oct.20
09:49 Shipbuilding Corporation “Ak Bars” to tell about passenger ship Chaika at 4th “LNG Fleet, LNG Bunkering and Alternatives” conference
09:26 Oil prices decrease amid second COVID-19 wave concerns
09:14 Baltic Dry Index as of October 19

2020 October 19

18:11 CMA CGM to launch the East Med - Black Sea Express
18:01 Taganrog coastal station of NAVTEX service obtains certificate of conformity
17:48 BPA to host 5G workshop
17:27 FESCO to supply India's research stations in Antarctica for the third year in a row
17:06 Valenciaport registers the record with 477,194 containers handled in September 2020
16:46 4th “LNG Fleet, LNG Bunkering and Alternatives” conference to be held online on 28 October 2020
16:05 Milaha obtains “ISO 27001” certification for Information Security Management System