DOCSLIB.ORG

DFDS Annual Report Header

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

DFDS ANNUAL REPORT HEADER DFDS IS NORTHERN EUROPE’S LARGEST INTEGraTED shIPPING AND LOGISTICS COMPANY. DFDS SEAWAYS’ nETWORK OF 30 ROUTES IS OPERATED BY 50 FREIGHT And PAssENGER SHIPS. DFDS LOGISTICS PROVIDES frEIGHT AND LOGISTICS SERVICES IN EUROPE WITH TraILErs, CONTAINErs, AND raIL. DFDS has 5,900 EMPLOYEES IN 20 COUNTRIES WITH REVENUES OF DKK 12BN. ThE COMPANY Was FOUNDED IN 1866, IS HEadQUarTERED IN COPENhaGEN, AND LISTED ON NASDAQ OMX COPENhaGEN. 2 DFDS ANNUAL REPORT 2012 HEADER REVENUE PROFIT BEFORE TAX RETURN ON INVESTED CAPITAL (ROIC) (DKK bn) AND SPECIAL ITEMS BEFORE SPECIAL ITEMS (DKK M) (%) 12 700 10 11 9 600 10 8 9 500 7 8 6 7 400 6 5 300 5 4 4 200 3 3 2 2 100 1 1 0 0 0 1 2 1 1 20 20 2008 2009 2010 2011 2012 2008 2009 2010 2008 2009 2010 2011 2012 MANAGEMENT REPORT 4 Key Figures 5 Foreword 6 Connecting Europe 8 Vision, Strategy and Goals 10 Management Report 16 CFI 20 Shipping Division 28 Logistics Division 35 Risk Factors 38 The DFDS Share 40 CR Report 62 Financial Review FINANCIAL STATEMENTS 68 Income Statement 69 Comprehensive Income 70 Balance Sheet 72 Statement of Changes in Equity 76 Cash Flow Statement 78 Notes 128 Company Overview 129 Statements MANAGEMENT REPORT, OTHER 130 Fleet List 132 Commercial Dduties 136 Executive Management 138 Definitions & Glossary DFDS ANNUAL REPORT 2012 3 KEY FIGURES DFDS GROUP KEY FIGURES 2012 DKK Million EUR mio.1 2012 2011 2010 2009 2008 Income statement Revenue 2 1,568 11,700 11,625 9,867 6,555 8,194 • Shipping Division 1,074 8,015 7,798 6,921 4,805 - • Logistics Division 571 4,259 4,330 3,353 1,970 - • Non-allocated items and eliminations -77 -574 -503 -407 -220 -668 • Ro-Ro Shipping - - - - - 3,799 • Container Shipping - - - - - 1,636 • Passenger Shipping - - - - - 1,779 • Terminal Services - - - - - 647 • Trailer Services - - - - - 963 • Tramp - - - - - 38 Operating profit before depreciations (EBITDA) and special items2 146 1,092 1,495 1,273 804 1,011 • Shipping Division 133 992 1,416 1,221 822 - • Logistics Division 19 140 171 74 42 - • Non-allocated item -6 -40 -92 -22 -60 -56 • Ro-Ro Shipping - - - - - 784 • Container Shipping - - - - - 81 • Passenger Shipping - - - - - 194 • Terminal Services - - - - - -31 • Trailer Services - - - - - 31 • Tramp - - - - - 8 Profit on disposal of non-current assets, net 1 6 26 5 18 45 Operating profit (EBIT) before special items 57 422 835 580 245 467 Special items, net -17 -124 91 102 -71 n.a. Operating profit (EBIT) 40 298 925 682 174 467 Financial items, net -20 -146 -183 -135 -154 -246 Profit before tax 20 152 742 547 20 221 Profit for the year 20 148 735 522 89 253 Profit for the year exclusive minorities 20 148 731 509 86 247 Capital Assets 1,649 12,300 12,795 13,849 9,298 8,610 DFDS A/S’ share of equity 927 6,914 6,906 6,339 3,641 3,414 Equity 934 6,969 6,964 6,396 3,688 3,484 Interest-bearing net debt 259 1,929 2,555 3,887 4,067 3,425 Invested capital, end of period 1,199 8,942 9,564 10,341 7,997 7,168 Invested capital, average 1,239 9,246 9,691 9,061 7,762 7,663 Full time equivalents (FTE), average - 5,239 5,096 4,862 3,924 4,301 Cash flows Cash flows from operating activities, before financial items and after tax 121 905 1,419 929 836 983 Cash flows from investing activities 32 239 219 -1,521 -1,265 -345 Acquistion of enterprises, activities and minorities -1 -9 -8 -1,417 -39 -40 Other investments, net 33 248 227 -104 -1,226 -305 Cash flows from operating activities 153 1,144 1,638 -592 -429 638 Key ratios from operation and return Number of ships 49 49 57 51 60 Revenue growth, % 0.6 17.8 50.5 3 -20.0 -1.4 EBITDA margin, % 9.3 12.9 12.9 12.3 12.3 Operating marginal, % 3.6 7.2 5.9 3.7 5.7 Turnover, investered capital average, (times) 1.27 1.20 1.09 0.84 1.07 Return on invested capital (ROIC), % 3.4 9.0 7.2 2.1 5.8 Return on equity p.a, % 2.1 11.0 10.2 2.4 7.1 Key ratios for capital and per share Equity ration, % 56.7 54.4 46.2 39.7 40.5 Interest-bearing net debt/EBITDA, times 1.77 1.71 3.05 5.06 3.39 Earnings per share (EPS), DKK 10 50 47 11 32 Dividends, DKK 14.0 14.0 8.0 0.0 0.0 Number of shares, end of period, ’000 14,856 14,856 14,856 8,000 8,000 Share price at the end of the period, DKK 255,5 355 418 358 399 Market value, DKK mio. 3,796 5,274 6,210 2,864 3,192 1 Applied exchange rate for euro as of 31. December 2012: 7,4604 2 During 2010 a new business area structure was introduced and comparative figures per business area are only available from 2009. 3 37% relates to the acquisition of the Norfolkline-Group. 4 DFDS ANNUAL REPORT 2012 FOREWORD EXPANSION DESPITE HEADWIND DFDS expands despite challenges Earnings must improve As predicted, 2012 was a challenging DFDS’ earnings need to improve to allow year. The EU was in recession, with falling us to invest in better customer service, demand in several markets. Moreover, our employees, network efficiency and competition intensified significantly in new environmental technologies – and, some markets due to overcapacity. not least, provide a satisfactory return to shareholders. However, achieving a And yet, despite the headwind, we did higher return on invested capital requires not lose our momentum in 2012. On the structural solutions in the business areas contrary, we continued the strategic ex- Channel and North Sea. We are working to pansion of the network with the opening implement solutions, but do not envisage of a new route between Dover and Calais this being possible before 2014. As a con- BENT ØSTERGAARD and the acquisition of a port terminal in sequence, the level of earnings in 2013 Chairman of the board Gothenburg and three routes from the will remain too low, although several French company LD Lines, including one business areas are expected to deliver in the Mediterranean. satisfactory results. New opportunities Unchanged dividend Lower economic activity puts pressure on Although the annual profit for DFDS was the earnings of a cyclical company such 80% lower than in the record year 2011, as DFDS. However, a downturn also offers the financial position was strengthened opportunities to invest and secure our as a result of a positive cash flow from future for a financially strong company, operations. The dividend is proposed to like DFDS. We foresee opportunities remain unchanged at DKK 14 per share, to strengthen DFDS’ long-term market equivalent to a pay-out of DKK 203m. position through acquisitions in the years ahead, and our highest priority is, there- Responsibility NIELS SMEDEGAARD fore, to continue pursuing our growth We are paying increasing attention to our President & CEO strategy. environmental and social responsibilities towards our stakeholders. In 2012, DFDS Putting the customer first and the DMMA trade union set up a social In 2012, we updated our vision for DFDS, fund for employees unable to work. The and put the customer first. We want to fund is an innovation on the Danish labor grow with our customers and further market and is co-funded by the Lauritzen develop the network to provide them Foundation. Our efforts to reduce emis- with more options. Extensive analysis sions passed a milestone in 2012 when conducted in 2012 showed that our we achieved the goal set in 2007 of a customers want reliability, high frequency 10% reduction. in the network and fast communication of changes to schedules, as well as simple We would like to thank our employees, and easily accessible processes. In order shareholders and customers for their to measure our ability to meet these efforts during a demanding, but exciting expectations, we will commence report- year. ing in the annual repport on customer satisfaction in 2013. DFDS ANNUAL REPORT 2012 5 SEAWAYSPASSENGERTERMINALCONTAINER FREIGHTSIDEPORTLOGISTICRAIL NETWORKLOCATION SERVICEOFFICES 12.201201.2013 HEADER CONNECTING EUROPE BODØ TRONDHEIM 5,900 EMPLOYEES DELIVERING ÅLESUND HIGH PErfORMANCE AND FLORØ SUPERIOR RELIabILITY…. BERGEN HAMINA OSLO HAUGESUND ST. PETERSBURG WhaTEVER WE CarrY KAPELLSKÄR UST-LUGA STAVANGER BREVIK MOSS VASTERAS PALDISKI HALDEN KRISTIANSSAND STOCKHOLM GREENOCK GRANGEMOUTH Shipping Freight Services ROSYTH GOTHENBURG All routes in DFDS’ network carry freight. Shipping of unaccompanied LARKHALL BELFAST and accompanied trailers for forwarding companies and hauliers is NEWCASTLE RIGA the main activity. For manufacturing companies, heavy goods such AARHUS HELSINGBORG ESBJERG as automobiles, steel, paper and forest products, and chemicals are DUBLIN COPENHAGEN KARLSHAMN LIMERICK IMMINGHAM FREDERICIA MALMO KLAIPEDA TAULOV MOSCOW transported. The network also carries containers and project cargo. WATERFORD LIVERPOOL In addition, port terminals are operated in strategic locations to CORK PETERBOROUGH KIEL ALMA-ATA SASSNITZ provide customer services and efficiency. CUXHAVEN LÜBECK AVONMOUTH IPSWICH HAMBURG MINSK FELIXSTOWE HARWICH AMSTERDAM (IJMUIDEN) Road and Rail Freight Services DAVENTRY TILBURY ROTTERDAM (VLAARDINGEN) NEWHAVEN DOVER Providing transport services for customers with full and part loads is PORTSMOUTH ZEEBRUGGE CALAIS ANTWERP the main activity, both ambient and temperature controlled. Rail and DUNKIRK GHENT warehousing services are also provided for customers. A considerable BRUGGE BOULOGNE SUR MER part of the services offered utilise DFDS’ route network as part of the DIEPPE transport solution.
Recommended publications
  • Public Transport Links to Ferry Ports 2013

    Public Transport Links to Ferry Ports 2013

    Public Transport Links to Ferry Ports 2013 Report of a survey of ferry users from October 2012 to September 2013 railfuture Public Transport Links to Ferry Ports 2013 Preface This survey was commissioned by railfuture, which is the campaigning name of the Railway Development Society Limited. railfuture is organised in 12 regional branches in England and 2 national branches for Scotland and Wales. We work with all levels of national, devolved and local government, train operators and like- minded voluntary bodies to promote the interests of rail users and secure improvements to rail services. We are completely independent of political parties, trades unions and railway management. The survey was prepared for the International Group of railfuture by Damian Bell, Trevor Garrod, Simon Hope, Julian Langston and Peter Walker, with assistance from Dick Clague (Isle of Man Travelwatch), to whom we give our sincere thanks. It was published by the Media, Marketing and Communications Group (MMC). We are grateful to all members of railfuture and others who contributed their experiences. All enquiries about the content of this publication should be directed to the railfuture International Group at [email protected]. Media enquiries about railfuture should be directed to [email protected] Peter Walker, Billingham, 28 November 2013 Photographs Portsmouth Harbour: This is how it should be done. Frequent train services at platforms in the shadow of the Spinnaker Tower connect with ferry services at the adjacent quay. At the time, the only vessel at the quayside was the Gosport ferry. Photograph by Uli Harder, reproduced under Creative Commons license.
  • WP3 1 Cor1 Rosyth Zeebrugge Ferry Service Business Impact Study November 2011

    WP3 1 Cor1 Rosyth Zeebrugge Ferry Service Business Impact Study November 2011

    Rosyth – Zeebrugge Ferry Service: Business Impacts – Data Refresh Final Report November 2011 The Spyria Partnership Contents 1 INTRODUCTION 3 1.1 INTRODUCTION 3 1.2 RESEARCH OBJECTIVES AND SCOPE OF WORK 3 1.3 STRUCTURE OF THIS REPORT 4 2 ROSYTH – ZEEBRUGGE FERRY SERVICE 5 2.1 INTRODUCTION 5 2.2 IMPACT OF A NEW CONNECTION BETWEEN SCOTLAND AND EUROPE 5 2.3 CHRONOLOGICAL HISTORY OF THE ROSYTH – ZEEBRUGGE FERRY SERVICE 6 2.4 CURRENT SERVICE PROVISION 7 2.5 VOLUMES AND KEY CUSTOMERS 8 2.6 FUNDING SUPPORT 10 3 HAULAGE INDUSTRY PERSPECTIVES 12 3.1 INTRODUCTION 12 3.2 WORKSHOP WITH RHA MEMBERS 12 3.3 SURVEY OF MAJOR SCOTTISH HAULIERS 12 3.4 VOLUMES, ROUTES AND JOURNEY TIMES 13 3.5 DECISION-MAKING AND CONTRACTUAL ARRANGEMENTS 15 3.6 BENEFITS OF THE FERRY SERVICE 15 3.7 FACTORS INFLUENCING ROUTE DECISION-MAKING 16 3.8 FUNDING AND SUPPORT 19 3.9 KEY FACTORS INHIBITING USAGE OF THE FERRY SERVICE 19 3.10 WHAT ACTIONS ARE REQUIRED TO GROW VOLUMES 19 4 BUSINESS SECTOR PERSPECTIVES 20 4.1 INTRODUCTION 20 4.2 OVERVIEW OF SCOTTISH MANUFACTURING SECTORS 20 4.3 BUSINESS SECTOR DECISION-MAKING AND IMPACTS 26 4.4 CONCLUSIONS 27 5 CONCLUSIONS 28 5.1 INTRODUCTION 28 5.2 KEY AREAS FOR CONSIDERATION 28 5.3 SUMMARY OF FINDINGS 30 APPENDIX A – QUESTIONNAIRE 31 2 | R o s y t h – Zeebrugge Ferry S e r v i c e – Business Impact Refresh The Spyria Partnership 1 Introduction 1.1 Introduction SEStran is a key partner in the Food Port Project, which is an Interreg IVB North Sea Region project, funded by the European Regional Development Fund (ERDF).
  • The Retrofit Project

    The Retrofit Project

    The Retrofit Project Retrofitting to reduce CO2 emission – a case study of three different vessels www. greenship.org The Retrofit Project This report is a product of a Green Ship of the Future It is intended to inspire for a financial sustainable collaboration, supported by The Danish Maritime way to invest in green solutions that minimize the Fund. The objective of this project is to explore the energy need and thereby our impact on the earth. potential of today's available and proven technolo- Furthermore, it is meant as an inspiration for ship- gies to reduce emissions and energy consumption. owners on where and how to look for fuel reduction potential, both on existing vessels and when plan- ning future fleets. Project partners Read more about the participating partners at the end of the report. Retrofit Series 2020 2 HAFNIA LISE VICTORIA SEAWAYS MAERSK TIANJIN Executive Summary The arguably most pressing environmental impact emitted per year. This is due to a different operation- from shipping, is the emission of greenhouse gas al pattern. While, there are differences between the (GHG) – especially the emission of CO2. It is evident individual vessels and participating providers ana- that implementation of a GHG neutral fuel is neces- lyzing the cases, and it is therefore not possible to sary, from both an environmental, climate and com- directly compare them, there were several general pliance perspective, but it is also evident that it will learnings that can be drawn. These are elaborated be years before we can rely purely on sustainable in the conclusion. It is vital to mention that there are sources of energy.
  • List of Numeric Codes for Railway Companies (RICS Code) Contact : Oca@Uic.Org

    List of Numeric Codes for Railway Companies (RICS Code) Contact : [email protected]

    List of numeric codes for railway companies (RICS Code) contact : [email protected] reference : http://www.uic.org/rics code short name full name country request date allocation date modifieddate beginvalidityof validityendof recent Freight Passenger Infra- structure Holding Integrated Other url 0006 StL Holland Stena Line Holland BV NL 01/07/2004 01/07/2004 x http://www.stenaline.nl/ferry/ 0010 VR VR-Yhtymä Oy FI 30/06/1999 30/06/1999 x http://www.vr.fi/ 0012 TRFSA Transfesa ES 30/06/1999 30/06/1999 04/10/2016 x http://www.transfesa.com/ 0013 OSJD OSJD PL 12/07/2000 12/07/2000 x http://osjd.org/ 0014 CWL Compagnie des Wagons-Lits FR 30/06/1999 30/06/1999 x http://www.cwl-services.com/ 0015 RMF Rail Manche Finance GB 30/06/1999 30/06/1999 x http://www.rmf.co.uk/ 0016 RD RAILDATA CH 30/06/1999 30/06/1999 x http://www.raildata.coop/ 0017 ENS European Night Services Ltd GB 30/06/1999 30/06/1999 x 0018 THI Factory THI Factory SA BE 06/05/2005 06/05/2005 01/12/2014 x http://www.thalys.com/ 0019 Eurostar I Eurostar International Limited GB 30/06/1999 30/06/1999 x http://www.eurostar.com/ 0020 OAO RZD Joint Stock Company 'Russian Railways' RU 30/06/1999 30/06/1999 x http://rzd.ru/ 0021 BC Belarusian Railways BY 11/09/2003 24/11/2004 x http://www.rw.by/ 0022 UZ Ukrainski Zaliznytsi UA 15/01/2004 15/01/2004 x http://uz.gov.ua/ 0023 CFM Calea Ferată din Moldova MD 30/06/1999 30/06/1999 x http://railway.md/ 0024 LG AB 'Lietuvos geležinkeliai' LT 28/09/2004 24/11/2004 x http://www.litrail.lt/ 0025 LDZ Latvijas dzelzceļš LV 19/10/2004 24/11/2004 x http://www.ldz.lv/ 0026 EVR Aktsiaselts Eesti Raudtee EE 30/06/1999 30/06/1999 x http://www.evr.ee/ 0027 KTZ Kazakhstan Temir Zholy KZ 17/05/2004 17/05/2004 x http://www.railway.ge/ 0028 GR Sakartvelos Rkinigza GE 30/06/1999 30/06/1999 x http://railway.ge/ 0029 UTI Uzbekistan Temir Yullari UZ 17/05/2004 17/05/2004 x http://www.uzrailway.uz/ 0030 ZC Railways of D.P.R.K.
  • General Court of the European Union PRESS RELEASE No 5/15 Luxembourg, 15 January 2015

    General Court of the European Union PRESS RELEASE No 5/15 Luxembourg, 15 January 2015

    General Court of the European Union PRESS RELEASE No 5/15 Luxembourg, 15 January 2015 Judgment in Case T-1/12 Press and Information France v European Commission The General Court confirms that the aid granted by the SNCF to SeaFrance is incompatible with the internal market SeaFrance, now wound up, was a French public limited company that was indirectly 100% owned by the French public entity the SNCF. It operated maritime passenger and freight transport services between the ports of Calais and Dover. In 2009, SeaFrance owned six vessels and employed 1 550 staff. From 2008, SeaFrance’s financial situation systematically deteriorated owing to unfavourable conditions, internal difficulties and industrial action. The SNCF therefore set up a credit line in favour of SeaFrance. That rescue aid was approved by the Commission on 18 August 2010.1 The French authorities subsequently notified the Commission of a restructuring aid package in favour of SeaFrance along with a restructuring plan. That restructuring was to be financed mainly by State aid in the form of a recapitalisation of SeaFrance in the amount of €223 million. Following a complaint of a competitor of SeaFrance, the French authorities communicated, at the end of 2011, a modified restructuring plan: the recapitalisation of SeaFrance was now to be limited to €166.3 million and to be accompanied by two loans granted by the SNCF. The first loan, of €99.7 million, was intended to finance the restructuring, while the second loan sought to replace a loan pertaining to one of the vessels of the fleet. By decision of 24 October 2011,2 the Commission found that the rescue aid agreed in 2010 and the restructuring measures set out in the 2011 plan (recapitalisation and loans) constituted State aid incompatible with the internal market.
  • The Media Guide to European Ferry Travel 2013

    The Media Guide to European Ferry Travel 2013

    The Media Guide to European Ferry Travel 2013 www.aferry.co.uk/offers Inside: • The latest routes & prices • Free ferry apps • Customer ferry reviews • Free wine offers 12:26 PM Back Resultsttss Dover to Calais some extra text too begin my Carrier testing to see the font size and whatat it should 27 Aug 2012 27 Aug 2012 £ 12:34 PM PMPM The World’s Leading Ferry Website 13:55 13:25 Dover Calais £75.00£75.0075 00 16:25 13:55 From: Calais Dover Dover 1h 30m 1h 30m To: 14:20 14:50 Calais App now available Dover Calais £80.00800.0000 17:25 15:55 Calais Dover Depart: 1h 30m 1h 30m 15 Jun 2012 at 15:00 15:30 Return: 0930 for iPhone & Android mobiles Dover Calais £85.000 14 Feb 2012 at 1800 18:25 17:55 Calais Dover 1h 30m 1h 30m Passengers: ONN 16:55 16:25 x 2 Dover Dunkerque £90.00 V x 1 16:25 13:55 ehicle: Dunkerque Dover 1h 30m 1h 30m SEARCH Finding The Best Ferry Deal Has Never Been Easier Ferry Useful Information Online 24/7 Use our one stop shop - To search, compare and book. Search AFerry for: With AFerry, you have access to the largest selection of ferries in Europe and beyond. Up to the minute ferry news. For all ferry routes and more: Fantastic prices and offers all year round. www.aferry.co.uk/ferry-routes.htm Compare the prices of ferries to Choose from all the famous ferry Our top tips to get the cheapest ferries.
  • Transport Research Market Uptake (Market-Up) Deliverable: D 2.1

    Transport Research Market Uptake (Market-Up) Deliverable: D 2.1

    Project ID: 265841 Transport Research Market Uptake (Market-up) Deliverable: D 2.1 Characterisation of the context of RTD initiatives per sectoral area Lead partner: UNIZA Consortium: Project co-funded by the European Commission TIS (PORTUGAL) - Co-ordinator within the Seventh Framework Programme CLEPA (BELGIUM) EMEC (BELGIUM) FRAUNHOFER (GERMANY) BME (HUNGARY) INOVA+ (PORTUGAL) UNIZA (SLOVAKIA) UA (BELGIUM) INNOVA (ITALY) Due Date of Deliverable: October 2011 Start Date of Project: 1 October 2010 Completion Date of Deliverable: December 2011 Duration: 24 Months Dissemination Level PU Public X PP Restricted to other programme participants (including the Commission Services) RE Restricted to a group specified by the consortium (including the Commission Services) CO Confidential, only for members of the consortium (including the Commission Services) Market-up D2.1: Characterisation of the context of RTD initiatives per sectoral area Foreword This report, FP7 Market-up project Deliverable 2.1, was prepared by the team at UNIZA with contributions from all members of the project consortium. The key data concerning Member States was collected by the Market-up team and provided to Transport NCP‟s for validation purposes. Market-up team is particularly thankful to the NCPs from Denmark, Austria, Latvia, Portugal, Slovakia, France and Lithuania for their contribution in the review of our findings. Opinions on main findings on barriers and particularly those faced by the transport SMEs were discussed with Technological Platforms during data collection and specific discussion topics have circulated and feedback asked for. Main findings from D2.1 were also presented in the Review Workshop held on the 26th October in Brussels, which discussion helped to improve our analysis and to enrich the discussion on perspectives for innovation in the transport sector.
  • Third-Country Tourists on the Ferries Linking Germany with Lithuania

    Third-Country Tourists on the Ferries Linking Germany with Lithuania

    Third-Country Tourists on the Ferries Linking Germany with Lithuania Eleri Jones, Ramunas Povilanskas, Ausrine Armaitiene’ Gediminas Valtas & Egidijus Jurkus Recreation and Tourism Department, Klaipeda University, Lithuania, and Cardiff School of Management, Cardiff Metropolitan University, UK Abstract This paper examines third-country passengers’ travel itineraries on the DFDS Seaways ferry route linking Kiel, Germany with Klaipeda, Lithuania using a mixed-methods approach comprising qualitative and quantitative methods, including geographical information system spatial-cluster analysis. Survey results reveal the predominant third- country passenger groups (i.e. passengers from countries other than Germany and Lithuania) on ferries sailing from Kiel to Klaipeda and back were Latvian (28%), Dutch (20%), British (14%) and Danish (12%) nationals; 86% of Latvian passengers used the ferry to travel between home in Latvia and work in Western Europe. Western European passengers comprised a diverse segment of motorized tourists using the ferry in summer to reach the Baltic States faster than by land. The paper highlights the role of the Kiel– Klaipeda ferry route within the Baltic Sea motorized tourism circuit linking the Baltic and Nordic countries with Western Europe. Key Words: Baltic Sea, ferry lines, motorized tourism circuit, third-country tourists, tourismscape, triangulation Introduction Ferry tourism (Duval, 2007; Gibbons, 1996) is a relatively obscure phenomenon with limited literature available in comparison with other industry sectors, such as leisure, tourism and transportation (e.g. motorized and cruise tourism, shipping). While analysing power relationships between hosts and guests aboard an English Channel ferry, Gibbons (1996, p. 7) noted that ferry tourism: “despite its prominent place within the tourism industry, has been much neglected in the literature ..
  • The Australian Naval Architect

    The Australian Naval Architect

    THE AUSTRALIAN NAVAL ARCHITECT Volume 13 Number 2 May 2009 The Australian Naval Architect 4 THE AUSTRALIAN NAVAL ARCHITECT Journal of The Royal Institution of Naval Architects (Australian Division) Volume 13 Number 2 May 2009 Cover Photo: CONTENTS The 69 m vehicle-passenger catamaran ferry 2 From the Division President Farasan, recently delivered by Austal to Saudi Arabia (Photo courtesy Austal Ships) 2 Editorial 3 Letter to the Editor 4 News from the Sections The Australian Naval Architect is published four times per year. All correspondence and advertising should be sent 22 Coming Events to: 24 Classification Society News The Editor The Australian Naval Architect 25 General News c/o RINA PO Box No. 976 34 From the Crows Nest EPPING NSW 1710 37 What Future for Fast Ferries on Sydney AUSTRALIA email: [email protected] Harbour, Part 2 — Martin Grimm and The deadline for the next edition of The Australian Naval Ar- Garry Fry chitect (Vol. 13 No. 3, August 2009) is Friday 24 July 2009. 42 Computational Analysis of Submarine Propeller Hydrodynamics and Validation against Articles and reports published in The Australian Naval Architect reflect the views of the individuals who prepared Experimental Measurement — G. J. Seil, them and, unless indicated expressly in the text, do not neces- R. Widjaja, B. Anderson and P. A. Brandner sarily represent the views of the Institution. The Institution, 51 Education News its officers and members make no representation or warranty, expressed or implied, as to the accuracy, completeness or 56 Industry News correctness of information in articles or reports and accept no responsibility for any loss, damage or other liability 58 Vale Ernie Tuck arising from any use of this publication or the information which it contains.
  • Note De Synthèse N°115

    Note De Synthèse N°115

    Note de Synthèse n°115 Mai 2009 Le Détroit du Pas-de-Calais Plus court passage avec l'Angleterre, le détroit du Pas de Calais constitue le plus important lien maritime de transbordement d’Europe avec 14 M de passagers et 2,5 M d'unités roulantes en 2008. Pourtant depuis quinze ans, la concurrence du tunnel sous la Manche représente une alternative conséquente, mais au final limitée en parts de marché à un tiers des flux. Si la concurrence modale a été intégrée dans le fonctionnement du marché du détroit, les différents changements de l’économie britannique affectent fortement les flux de passagers et de fret. Les compagnies doivent donc s’adapter à un flux massif et structuré, mais dont les à-coups provoquent régulièrement des ajustements de marché. L'évolution contextuelle des échanges du Détroit la longue distance (Eurostars et trains de fret). Le L'état des économies britannique et irlandaise est marché maritime a donc eu le temps de se fondamental pour l'évolution des échanges maritimes de reconstruire et par deux fois est devenu le seul moyen transbordement avec la Grande-Bretagne. Elle quand des incendies réduisent totalement ou conditionne la demande de produits européens pour le partiellement l’activité d’Eurotunnel (celui du 11 fret et via le pouvoir d'achat des Britanniques la septembre 2008 a couté six mois de service des consommation de vacances. Ces dernières années, leur navettes). Eurotunnel, forcé à trouver rapidement le aisance économique les avait éloignés des vacances sur chemin de la rentabilité, a donc privilégié une le continent proche au profit de destinations plus approche commerciale rigide (grands comptes, distantes accessibles par le transport aérien bon marché voyageurs "pressés" prêts à payer ce service).
  • Press Release Leading Danish Companies Join Forces On

    Press Release Leading Danish Companies Join Forces On

    Supported by 26 May 2020 Press release Leading Danish companies join forces on an ambitious sustainable fuel project Copenhagen Airports, A.P. Moller - Maersk, DSV Panalpina, DFDS, SAS and Ørsted have formed the first partnership of its kind to develop an industrial-scale production facility to produce sustainable fuels for road, maritime and air transport in the Copenhagen area. The partnership brings together the demand and supply side of sustainable fuels with a vision to realise what could become one of the world’s largest electrolyser and sustainable fuel production facilities. The project can spearhead the maturation of sustainable fuels while creating jobs and new value chains to reinforce Denmark’s role as a green energy leader. Copenhagen Airports, A.P. Moller - Maersk, DSV Panalpina, DFDS, SAS and Ørsted have brought together the demand and supply side of sustainable fuels in a unique partnership with the concrete vision to develop a new ground-breaking hydrogen and e-fuel production facility as soon as 2023. When fully scaled-up by 2030, the project could deliver more than 250,000 tonnes of sustainable fuel for busses, trucks, maritime vessels, and airplanes every year. Production would potentially be based on a total electrolyser capacity of 1.3 gigawatts, which would likely make it one of the world’s largest facilities of its kind. The production from the fully scaled facility can reduce annual carbon emissions by 850,000 tonnes. COWI and BCG act as knowledge partners for the project, and the project is supported by the Municipality of Copenhagen in line with Copenhagen’s ambitious policies for decarbonisation.
  • Imdo Netherlands 2009 Layout 1

    Imdo Netherlands 2009 Layout 1

    Netherlands December 2009 SHIPPING REVIEW INTRODUCTION with rising fuel costs and a reduced demand due in deteriorating The Netherlands is among Ireland’s top 10 trading partners and global markets. In 2007 Xpress Containerline ceased a service serves as the gateway to Europe and the rest of the world for from Shannon Foynes to Rotterdam due to the long distance Irish manufactured goods. Netherlands has a very open between both ports compounded by the adverse affects of economy which relies heavily on foreign trade. The economy is weather and delays. Europe Lines also ceased its service between noted for stable industrial relations, moderate unemployment Drogheda and Rotterdam. and inflation, a sizable current account surplus and an important role as the European transportation hub. Industrial At the end of 2008 capacity on routes to the Netherlands were activity is predominantly in food processing, chemicals, reduced significantly as a result of the decline in demand brought petroleum refining, and electrical machinery. The pace of job on by the economic downturn. BG freightline restructured most growth reached a 10-year high in 2007, but economic growth of their shipping routes between Ireland and The Netherlands. fell sharply in 2008 as fallout from the world financial crisis Southampton was removed from the 400 TEU Belfast- Greenock constricted demand and raised the specter of a recession in - Rotterdam route, and capacity was reduced on the Dublin - 2009. As a gateway to Europe and the rest of the world for Irish Rotterdam -Felixstowe route from 750 TEU to 300 TEU. An goods, there are many Shortsea shipping services between additional vessel was added to the Dublin - Rotterdam route, Ireland and the Netherlands.