Shippax Newsletter– week 36
Please find the news published during the week on our website, listed by date of publishing.
For a much broader and in-depth news reporting we recommend our magazine, available both in print and digital.
Have a great weekend!
bound4blue raises EUR 22.4 million from the European Commission, major corporate investors and VC
bound4blue, the European technology developer of automated wind-assisted propulsion systems for the maritime transport based in Spain, has secured a EUR 15.9 million Series A funding round led by GTT Strategic Ventures, with the participation of the EIC Fund (European Innovation Council), Shift4Good, Louis Dreyfus Company Ventures, the Sustainable Ocean Alliance, Sun Returns, Kai Capital and existing investors including the Ocean Born Foundation and CDTI (Centre for the Development of Technology and Innovation) through the co-investment initiative of Innvierte program.
Virgin Voyages announces USD 550 million capital raise
VALIANT LADY © Frank Jensen
Virgin Voyages has closed on a USD 550 million capital raise to accelerate its growth plans. The funding round was led by funds managed by the Private Equity Group of Ares Management and also includes additional capital from existing investors including Virgin Group and Bain Capital. The new funding raise will enable Virgin Voyages to strengthen its financial position while supporting the brand’s rapid expansion into international markets, with a relentless focus on creating an outstanding and innovative customer experience.
As Virgin Voyages looks ahead to its next phase of growth, founding Chief Executive Officer, Tom McAlpin, is retiring as CEO and transitioning to the role of Chairman of the Board of Directors.
TT Club: Fire not the only danger with lithium-ion batteries
The fully electric ferry ELLEN suffered from a minor battery room fire on 11 July due to thermal runaway in three of the 20 battery strings. ELLEN will be out of service for the rest of the year © Peter Therkildsen
TT Club, the specialist international freight insurance provider is seeking greater emphasis on the critical dangers of toxic gas emissions associated with lithium-ion battery fires. The failure of such batteries has the potential to occur with no prior warning, or with such speed that there is typically no time to react to any warning signs.
Devastating consequences of rapidly spreading, and often challenging to extinguish fires involving the batteries particularly in electric vehicles (EV) on board ships, and other parts of the supply chain have been well-documented in recent months. There is however less awareness of the highly toxic combustion products that are released and their respective impact to the health and wellbeing of those exposed to the gases.
Attica Group CEO resigns following tragic deadly incident
BLUE HORIZON © Kai Ortel
Following the tragic incident that resulted in the death of a 36-year-old passenger, Attica Group CEO Spiros Paschalis have announced his resignation as the CEO of the company.
The deceased passenger was reportedly late to the BLUE HORIZON ferry in Piraeus, and when trying to board the ferry he was pushed off by the crew into the sea where he drowned.
One crew member is charged with homicide with possible intent, two others with complicity, while the captain is charged with severe breaches of shipping regulations.
The CEO position will be temporarily taken over by its current CFO, Mr. Panos Dikaios.
More passengers per ship and in Swedish ports during the second quarter of 2023
© ForSea
In the second quarter of 2023, the total number of passengers in Swedish ports was 7.0 million, a slight increase from 6.9 million passengers in the same quarter of 2022. Passenger traffic to and from the Danish ports contributed the most to the total increase. Despite more passengers in the ports in foreign traffic, the number of ship calls has continued to decrease compared to the same quarter in 2022. This shows new preliminary official statistics from Trafikanalys.
Nearly 1.8 million passengers for Viking Line during summer
VIKING GRACE © Viking Line
Between June and August, 1,786,499 passengers sailed on Viking Line’s vessels, and many departures during the summer holiday season were sold out well in advance. Several reasons for the strong demand were local tourism, which was popular in both Finland and Sweden, and the recovery in international tourism in the Nordic region – as well as the company's vessels, which many people wanted to experience.
Baleària to invest EUR 1 billion in eight to 10 new ferries over the next seven years
CAP DE BARBARIA © Baleària
According to Spanish media, Baleària is looking to build between eight and 10 new ferries in the next seven years in a fleet upgrade programme expected to cost EUR 1 billion. Baleària hopes to obtain state guarantees to finance part of this major fleet renewal programme.
Stena AB Q2 2023 interim report
STENA EMBLA © Stena Line
Stena AB released its Q2 financial report for 2023, showing revenues from the ferry operations increased to SEK 4,776 million (SEK 4,609 million), while EBITDA ended at SEK 1,139 million (SEK 1,394 million).
Revenues from the company's ro-ro activities reached SEK 275 million for the period (SEK 219 million), with EBITDA ended at SEK 241 million (SEK 152 million).
Marine accident report released on the STENA SCANDICA fire
STENA SCANDICA © Stena Line
On 29 August 2022, a fire broke out on the Danish-flagged STENA SCANDICA while en route from Nynäshamn, Sweden, to Ventspils, Latvia. The fire was under control, but the ship’s power supply system had failed, and the ship was drifting towards the Swedish island of Fårö. The Danish Maritime Accident Investigation Board (DMAIB) has now released their accident report on the fire.
Key points of the fire investigation:
• The fire was ignited and developed from the left side of the gap between a truck and trailer. In that area were a number of potential sources of ignition, and the investigation did not conclusively establish the primary cause of ignition.
• Due to loading conditions on the day of the accident, the fire did not spread to the other vehicles on the car deck.
• The crew succeeded in extinguishing the fire before blackout occurred and water supply for drenchers and fire hydrants was lost.
• The heat-retardant properties of the A-60 division between the vehicle deck and the passenger decks were impaired, as insulation fell from the deckhead when soaked by water during the firefighting.
MEYER Floating Solutions unveils floating cruise terminal concept
MEYER Floating Solutions, an entity within the MEYER Group, has unveiled a groundbreaking advancement in the cruise industry: the world's first floating cruise terminals. These revolutionary terminals offer a more resource-efficient solution for cruise ports worldwide.
Tallink Grupp adds VICTORIA I to the Tallinn-Helsinki route
VICTORIA I © Uwe Jakob
Tallink Grupp announced that they will bring back the company’s vessel VICTORIA I to the Tallinn-Helsinki route as of 12 October 2023. This means that the company is increasing its daily departures between the two capital cities to pre-pandemic levels, offering 14 departures between Tallinn and Helsinki daily.
Neptune Lines orders two new 4,200 CEU PCTCs
© Deltamarin
Neptune Lines announced the order of two new vessels, specially designed for its short sea trades. Fujian Mawei shipyard in China will build the highly efficient 4,200 CEU dual fuel PCTC vessels which will both be delivered in 2026. The new vessels, under the Genesis Project, are the first two of a new series which reflects Neptune’s strategy to supplement its fleet over the next decade, increase relevant cargo capacity by 36% from current core fleet vessels, and reduce emissions to remain well ahead of global targets.
AS Tallink Grupp Statistics for August 2023
In August 2023 AS Tallink Grupp transported 576,455 passengers, which is a 4.4% decrease compared to August 2022. The number of cargo units decreased by 26.0% to 26,281 units and the number of passenger vehicles by 2.6% to 86,794 units year-on-year.
Grimaldi Group takes delivery of second “G5” con-ro
GREAT LAGOS © Grimaldi Lines
The second G5-class multipurpose con-ro was delivered on 30 August at the Hyundai Mipo Dockyard Co. Ltd. in Ulsan (South Korea) to the Grimaldi Group. GREAT LAGOS as its named follows the GREAT ANTWERP that was delivered in April this year.
The new vessel is named after the city of Lagos in Nigeria: its port has been served for decades by the Neapolitan shipping company within its maritime links between Europe, North and South America, and West Africa. In addition, the Grimaldi Group currently operates there the largest ro-ro multipurpose terminal in West Africa.
Paper state that EV fires are less frequent and not more dangerous than conventional vehicles
FREMANTLE HIGHWAY caught fire 25 July 2023 with 3,783 cars onboard
There are growing concerns within the shipping community, including marine underwriters, about fires breaking out on car carriers and ro-ros with the assertion that many of these fires are attributable to electric vehicles. In response, the International Union of Marine Insurance (IUMI) has researched these claims and published recommendations on the safe carriage of electric vehicles (EVs).
"Our paper draws on a body of scientific research which demonstrates that fires in battery EVs are not more dangerous than fires in conventional vehicles, nor are they more frequent. Although statistics continue to be gathered, they currently estimate that, in general, there are fewer fires from EVs compared with fires from conventional vehicles when driven over the same distance.”
Charter agreement between Tallink and Holland Norway Lines terminated
ROMANTIKA © Tim Kooren
Following the announcement of Holland Norway Lines suspending its payments, Tallink announced that the charter agreement for the company’s vessel ROMANTIKA has been terminated on 1 September 2023 before the charter agreement’s normal expiry date.
The charter agreement was signed between a subsidiary of AS Tallink Grupp, AS Tallink Latvija and Holland Norway Lines BV and was initially planned to last for three years (+1+1-year options), starting as of March 2022.
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