"The results in the first half of the year show continued high demand for our routes and products among both passenger and transport customers. However, the combination of environmental upgrades of the ships, a still weak freight market and somewhat reduced desire to travel in the Norwegian market as a result of the weak krona meant that overall activity was somewhat lower than in the same period in 2024," says Color Line's CEO Trond Kleivdal.

Color Group expects a satisfactory annual result for 2025, and sees continued growth in the foreign markets as a result of Norway continuing to strengthen both as a summer and winter destination. The shipping company is well positioned to meet the green transition, and on track with its ongoing digital transformation.

"At the same time, we should point out the rapidly growing climate costs that are now hitting our industry, without these being balanced through corresponding incentives for the transition that we all want and are working towards. Norwegian shipping is already subject to significant additional costs through the EU's emissions trading system, with the prospect of being subject to even stricter requirements from the International Maritime Organization (IMO) from 2028. European shipping thus risks having to pay for the same emissions to both the EU and the IMO, and the maritime nation of Norway must ensure that the industry is not exposed to such unfortunate and unintentional double taxation," says Kleivdal

Full report Color Group Annual Report 2024

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