Finance

Ferry, terminal and container operator, Irish Continental Group (ICG) generated €264 mill in revenue for the first half of this year, up by €0.9 mill on the first half of the previous year. Operating profit was €16.2 mill, [Read more...]

Norwegian ferry operator Color Line has reported income of NOK2.7 bill (NOK2.2 bill in 1H22) and an operating result of NOK467 mill (NOK238 mill) for the first half of this year. The rise was driven by high demand [Read more...]

Swedish shipping conglomerate, Stena AB reported an increase in total revenues of SEK2,816 mill to SEK26,415 mill for the first six months of this year. The revenues were higher in all business segments offset by lower revenues within [Read more...]

Holland Norway Lines (HNL) was declared bankrupt by a Groningen Court on 4th September. The bankruptcy was requested in consultation with trustee Hans Silvius and the management of HNL. Silvius was appointed as curator. The reason for proceeding [Read more...]

Recently, Virgin Voyages has announced that it had completed its next round of funding, is losing its founding CEO to retirement and has had to delay the delivery of its fourth ship. The latest round of funding saw [Read more...]

In its first half 2023 results presentation, Harland & Wolff Group Holdings (H&W) took a look at the ferry and cruise ship market in terms of refits and newbuildings. Starting with the ferry market, this continued to be buoyant [Read more...]

Baltic ferry operator Eckerö Group reported that during the second quarter of this year, all routes experienced a performance record, vessel sales were completed and extensive loan amortisations negotiated.   During the second quarter, 882,209 passengers travelled on [Read more...]

Baltic ferry operator Viking Line has reported a significant rise in income during the first six months of this year. Sales amounted to €226.3 mill, compared to €199.8 mill for 1H22, while net income was €6.9 mill, compared [Read more...]

Aurora Expeditions’ subsidiary, Pacific Travel Partners, has acquired the assets from the defunct small cruise company, Vantage Deluxe World Travel.   Vantage filed for Chapter 11 bankruptcy in late June, due to financial pressures stemming from the COVID-19 pandemic. [Read more...]

Danish ferry and logistics company, DFDS reported a 5% drop in EBITDA to DKK1.4 bill for the second quarter of this year, while the adjusted free cash flow was DKK601 mill.   However, the EBITDA outlook for the [Read more...]