Gotlandsbolaget enjoys improved operating profit

Sweden’s island of Gotland is still popular as a travel destination, despite a slight decrease in the number of travellers, ferry operator Gotlandsbolaget said in its latest financial presentation. The measures implemented to strengthen earnings, with efficiency improvements and adjusted ticket prices, have had a [Read more...]

2023-11-30T21:39:43+00:00 November 30th, 2023|Finance|

Cruise ships visiting Scotland to be taxed

The Scottish Government is to introduce a levy on cruise ships visiting the country. This will be applied in partnership with local authorities to tackle the twin challenges of reducing the amount of harmful emissions being released and the impact of thousands of tourists on [Read more...]

2023-11-16T17:40:40+00:00 November 16th, 2023|Finance|

NCLH enjoys record revenue

Norwegian Cruise Line Holdings (NCLH) has met or exceeded guidance for all key metrics in the third quarter, the company reported in its third quarter results. NCLH generated total revenue of $2.5 bill, a record and up 33%, compared to the same period in 2019, [Read more...]

2023-11-16T17:38:38+00:00 November 16th, 2023|Finance|

Viking Line reports strong results

For the first nine months of this year, Baltic ferry company, Viking line reported a consolidated sales increase of 2.4% to €379.2 mill (€370.2 mill in 2022), while operating income totalled €52.4 mill (€18.9 mill). During the period, ‘Rosella’ was sold, which had a positive [Read more...]

2023-11-16T17:32:27+00:00 November 16th, 2023|Finance|

Tallink posts increased profit

Tallink Grupp’s 2023 third quarter financial results showed continuing improvement and the positive impact of difficult decisions. In 3Q23, the company carried a total of 1,775,821 passengers, which was 6.2% less than 3Q22 (1,893,603). However, the company operated two vessels less on the routes in 3Q23, [Read more...]

2023-11-16T17:25:29+00:00 November 16th, 2023|Finance|

WFW advises banks on Adria Ferries financing

Watson Farley & Williams (WFW) has advised a syndicate of banks, comprising Crédit Agricole Italia, acting as agent bank, Intesa Sanpaolo and BPER Banca, on a loan facility granted to Adria Ferries. Adria, one of the Ieading shipping companies involved in transport between Italy and Albania, [Read more...]

2023-11-14T21:38:28+00:00 November 14th, 2023|Finance|

BEMAC invests in The Switch

Japanese-based electronics company, BEMAC Corp is to acquire shares in Finland’s The Switch Engineering and its group companies in partnership with Mitsui & Co.   As majority shareholder, BEMAC together with Mitsui, has entered into a share purchase agreement to acquire 100% of The Switch [Read more...]

2023-10-30T21:56:56+00:00 October 30th, 2023|Finance|