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Finnlines Annual Report 2019
ANNUAL REPORT 2019 Contents Highlights 2019 2 CEO’s Review 4 CFO’s Review 6 Business concept, values and strategic goals 9 Business environment 1111 Shipping and Sea transport services 1313 Passenger services 1515 Port operations 1717 Environment and safety 1919 Human resources 2323 Financial Statements Board of Directors’ Report 2626 Consolidated statement of comprehensive income 3030 ConsolidatedConsolidated statement of financialfinancial position position 31 ConsolidatedConsolidated statement of changeschanges in equity 3232 Consolidated statementstatement ofof cashcash flows flows 33 33 Profit andand lossloss account,account, ParentParent Company 3434 BalanceBalance sheet, Parent Company 3535 Cash flowflow statement,statement, ParentParent Company 3636 Five-year keykey figures figures 37 CalculationCalculation of key ratios 3838 QuarterlyQuarterly data 39 Board’sBoard’s Proposal 4040 Auditor’sAuditor’s Report 4141 Corporate Governance Statement 4343 Board of Directors 4848 Executive Committee and Board of Management 4949 Finnlines fleet fleet 50 Contact information 5252 Operating areas 5252 The Grimaldi Group 53 Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea, the North Sea and the Bay of Biscay. The Company’s passenger-freight vessels offer services from Finland to Germany and via the Åland Islands to Sweden, as well as from Sweden to Germany. Finnlines’ ro-ro vessels operate in the Baltic Sea, the North Sea and the Bay of Biscay. The Company has subsidiaries or sales offices in Germany, Belgium, Great Britain, Sweden, Denmark and Poland. In addition to sea transportation, the Company provides port services in Helsinki and Turku. Finnlines is a part of the Grimaldi Group, one of the world’s largest operators of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe for both passengers and freight. -
Regular Shipping Lines and Service Providers in 2018 Offi Ce Centre Merituuli, Kotka P.O.Box 196 FI-48101 Kotka, Finland Merituulentie 424, FI-48310 Kotka
PORT OF HAMINAKOTKA Regular shipping lines and service providers in 2018 Offi ce Centre Merituuli, Kotka P.O.Box 196 FI-48101 Kotka, Finland Merituulentie 424, FI-48310 Kotka Offi ce Centre Kuorsalo, Hamina P.O.Box 196 FI-48101 Kotka, Finland A seaport for trade and industry Satamantie 4, FI-49460 Hamina Port of HaminaKotka is a modern Finnish seaport ideal for international trade and industry. Its close proximity to the border between the EU and Russia off ers the fastest, safest and most competitive route to and from Russia. With scheduled routes to key ports in the Baltic Sea region and Europe, the Port of HaminaKotka enables regular connections to the whole world. • haminakotka.com • sales@haminakotka.fi • tel. +358 (0)20 790 8800 Regular shipping lines 2018 LINER TRAFFIC TO AND FROM THE MUSSALO HARBOUR Destination Shipping line Frequency Type Liner agent Gdansk COSCO 1 x week container Stella Naves Rotterdam COSCO 1 x week container Stella Naves Bremerhaven-Hamburg Hapag-Lloyd 1 x week container Stella Naves Bremerhaven Teamlines 1 x week container Teamlines Hamburg Teamlines 1 x week container Teamlines Antwerp CMA-CGM 1 x week container Dahlberg’s Agency Rotterdam CMA-CGM 1 x week container Dahlberg’s Agency Wilhelmshaven- Maersk 1 x week container Dahlberg’s Agency Felixstowe Antwerp-Felixstowe Maersk 1 x week container Dahlberg’s Agency Rotterdam X-Press feeders 3 x week container Global Freight Solutions Oy Bremerhaven-Hamburg X-Press feeders 1 x week container Global Freight Solutions Oy Bremerhaven Unifeeder 2 x week container Dahlberg’s Agency Gdansk-Gdynia Unifeeder 1 x week container Dahlberg’s Agency Le Havre-Antwerp- MSC 1 x week container Dahlberg’s Agency Bremerhaven LINER CONNECTIONS OF THE HIETANEN RORO AND CAR TERMINALS Destination Shipping line Frequency Type Liner agent Antwerp Transfennica 2 x week conro Transfennica Paldiski Transfennica 2 x week conro Transfennica Gdynia Transfennica 1 x week conro Transfennica St. -
Shipbreaking Bulletin of Information and Analysis on Ship Demolition # 60, from April 1 to June 30, 2020
Shipbreaking Bulletin of information and analysis on ship demolition # 60, from April 1 to June 30, 2020 August 4, 2020 On the Don River (Russia), January 2019. © Nautic/Fleetphoto Maritime acts like a wizzard. Otherwise, how could a Renaissance, built in the ex Tchecoslovakia, committed to Tanzania, ambassador of the Italian and French culture, carrying carefully general cargo on the icy Russian waters, have ended up one year later, under the watch of an Ukrainian classification society, in a Turkish scrapyard to be recycled in saucepans or in containers ? Content Wanted 2 General cargo carrier 12 Car carrier 36 Another river barge on the sea bottom 4 Container ship 18 Dreger / stone carrier 39 The VLOCs' ex VLCCs Flop 5 Ro Ro 26 Offshore service vessel 40 The one that escaped scrapping 6 Heavy load carrier 27 Research vessel 42 Derelict ships (continued) 7 Oil tanker 28 The END: 44 2nd quarter 2020 overview 8 Gas carrier 30 Have your handkerchiefs ready! Ferry 10 Chemical tanker 31 Sources 55 Cruise ship 11 Bulker 32 Robin des Bois - 1 - Shipbreaking # 60 – August 2020 Despina Andrianna. © OD/MarineTraffic Received on June 29, 2020 from Hong Kong (...) Our firm, (...) provides senior secured loans to shipowners across the globe. We are writing to enquire about vessel details in your shipbreaking publication #58 available online: http://robindesbois.org/wp-content/uploads/shipbreaking58.pdf. In particular we had questions on two vessels: Despinna Adrianna (Page 41) · We understand it was renamed to ZARA and re-flagged to Comoros · According -
2018 Annual Report WHERE YOU CAN FIND MORE INFORMATION Annual Report
2018 Annual Report WHERE YOU CAN FIND MORE INFORMATION Annual Report https://www.ge.com/investor-relations/annual-report Sustainability Website https://www.ge.com/sustainability FORWARD-LOOKING STATEMENTS Some of the information we provide in this document is forward-looking and therefore could change over time to reflect changes in the environment in which GE competes. For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, see https://www.ge.com/ investor-relations/important-forward-looking-statement-information. We do not undertake to update our forward-looking statements. NON-GAAP FINANCIAL MEASURES We sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in the CEO letter supplemental information package posted to the investor relations section of our website at www.ge.com. Cover: The GE9X engine hanging on a test stand at our Peebles Test Operation facility in Ohio. Here we test how the engine’s high-pressure turbine nozzles and shrouds, composed of a new lightweight and ultra-strong material called ceramic matrix composites (CMCs), are resistant to the engine’s white-hot air. -
Annual Report FORWARD-LOOKING STATEMENTS
2019 Annual Report FORWARD-LOOKING STATEMENTS Some of the information we provide in this document is forward-looking and therefore INSIDE FRONT COVER could change over time to reflect changes in the environment in which GE competes. For details on the uncertainties that may cause our actual results to be materially different Wysheka Austin, Senior Operations than those expressed in our forward-looking statements, see https://www.ge.com/ Manager, works on a combustion unibody investor-relations/important-forward-looking-statement-information. for GE Gas Power’s 7HA gas turbine in Greenville, South Carolina. We do not undertake to update our forward-looking statements. NON-GAAP FINANCIAL MEASURES COVER We sometimes use information derived from consolidated financial data but not presented Kevin Jones, a Development Assembly in our financial statements prepared in accordance with U.S. generally accepted accounting Mechanic, performs a perfection review on principles (GAAP). Certain of these data are considered “non-GAAP financial measures” the propulsor for GE Aviation’s GE9X engine under the U.S. Securities and Exchange Commission rules. These non-GAAP financial before it is shipped for certification testing. measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures can be found on pages 43-49 of the Management’s Discussion and Analysis within our Form 10-K and in GE’s fourth-quarter 2019 earnings materials posted to ge.com/investor, as applicable. Dear fellow shareholder, Over 60 GE wind turbines work together at Meikle Wind Farm, the largest wind farm in Western Canada, to generate enough energy to power over 54,000 homes in British Columbia. -
Freight Guide
FinnLink traffic Kapellskär - Långnäs - Naantali FREIGHT GUIDE 2017/03 2 CONTENTS Finnlink transports 4 Timetable 4 Seafreight is comprised of 5 VAT 5 Reservations 6-7 Freight clearance 8 ISPS 9 Special transports 9 Dangerous goods 9-10 Forwarding services 11 Stevedoring 11-12 Vessels 12 Contact information 13 Långnäs 14 3 FREIGHT GUIDE DEAR FREIGHT CUSTOMER! Finnlines is a leading shipping operator of ro-ro and passenger services in the Baltic Sea and the North Sea and is part of Grimaldi Group. Finnlines Plc, FinnLink traffic specialises in sea transport between Naantali, Finland and Kapellskär, Sweden, we base our activities on the needs of freight traffic. We operate with two ropax vessels. This booklet contains information on how we operate. We hope that this guide will provide you with the necessary assistance in various freight-related matters. 4 FINNLINK TRANSPORTS: Road trains Lorries Trailers (semi-trailers) We do not transport: Caterpillar vehicles on deck Rolltrailers (MAFI trailers) TIMETABLE An up to date timetable can be found on the Internet at www.finnlines.com. Exceptions (dockings, seasonal traffic etc) occur regularly. 5 SEA FREIGHT IS COMPRISED OF Meter-prising (per every 1/2 meter) Vehicle fee includes driver ticket plus stay in 2 or 4 -person cabin, 2 meals and sauna Tonnage and port fees VAT 24% (if applicable) As well as surcharges eg. for oversized loads, dangerous goods, electrical connection, additional charges for special departures, bunker etc. VAT Companies registered outside of Finland: VAT 0%. Companies registered in Finland: all transports made within the EU are subject to VAT (24%). -
Finnlines News 1/2019
news a Grimaldi Group company 1/2019 On the front line of the R&D revolution High and heavy project cargo Shipping in Finland Efficient. Reliable. Sustainable. Contents Editorial 2 Stepping into an authentic LUX cabin 4 Star Club Loyalty Program – Convenient and easy 5 Shipping in Finland 6 Transporting project cargo, ”high and heavy” 7 Schedules 11–15 On the front line of the R&D revolution news he Grimaldi Group is riding a wave of Issue 1/2019 seq. no. 25 rapid technological change powered by research and development. Automisa- Editor in Chief: Finnlines tion, digitalisation and the development of Printed by: K-Print Temission-reduction technology will help push our industry towards a low-carbon future. Published by: Finnlines Plc Komentosilta 1 FINNLINES, WITH ITS ADVANTAGEOUS POSITION at FI 00980 Helsinki the heart of the Scandinavian high-tech cluster, is www.finnlines.com both contributing to and benefiting from this revolu- [email protected] tion. For a case in point, take the three ice-class Address changes: newbuildings earmarked for Finnlines from the www.finnlines.com/finnlines-news Group-wide orderbook. Not only will they be among Printed in April 2019. the largest ro-ros in the North Sea and Baltic, they Circulation: 15,500 copies will also benefit from battery technology currently being installed on two Group cruise-ferries in the Mediterranean: vessels that will boast zero emis- sions in port because they rely entirely on batteries recharged while underway. able Shipping Forum, an EU platform for elaborat- ing environmental solutions for our industry. We are also one of the 4 shipowners which founded the Global Industry Alliance (GIA), a new public- private partnership initiative of the world-level IMO organisation that aims to bring together maritime industry leaders to support an energy efficient and low carbon maritime transport system. -
BLÜCHER Marine References
BLÜCHER Marine References Country Project Shipyard Owner Vessel Type Hull no. Year Argentina Frigate Naval Shipyard Frigate Frigate Refitting 2005 Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 361 2013 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 362 2013 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 363 2013 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 364 2013 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 365 2014 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 366 2014 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 367 2014 Border Protection Service Protection Service Australia Australian Customs and Austal Ships Australian Customs and Border Cape Class Patrol Boat 368 2014 Border Protection Service Protection Service Australia Australian Defence Civmec/ASC Australian Defence OPV OPV1 2019 Australia Australian Defence - ASC Shipyard Australian Defence Air Warfare Destroyer 2012 AWD Australia Australian Defence - LHD BAE Systems Australian Defence Landing Helicpoter 2012 Dock Australia Dick Smith Tenix Dick Smith Ocean Research Ulysses Blue 2005 Vessel Australia Esso West Tuna Esso Platform 1996 Australia HMAS Arunta BAE Systems Australian Defence ANZAC Frigate ANZAC 2019 Australia Jean de la Valette - Virtu Austal Ships Virtu Ferries High Speed Ferry 248 2010 Ferries Australia RNZN Tenix RNZN Ocean Research 42826 2006 Vessel Australia Taylor Bros. -
Free Free Free
CWHEREruise WILL YOU ESCAPE TO? FREE FREE FREE DRINKS GRATUITIES STATEROOM £0 PACKAGES & ON BOARD CREDIT UPGRADES DEPOSITS Cruise1st Store, Lowry Outlet, MediaCityUKON SELECTED SKY SAILINGS CHANNEL 688 TV CRUISE CHANNEL 199 REVOLUTIONISED CELEBRITY SILHOUETTE FREE FREE FREE FREE OCEANVIEW GRATUITIES $300 DRINKS ON BOARD TO VERANDA CREDIT UPGRADES ON OCEANVIEW AND ABOVE IRELAND AND ICELAND CELEBRITY SILHOUETTE • 14 NTS • 30 MAY & 05 SEPT 2020 NOW FROM ▶ Southampton ▶ St.Peter Port, Channel Islands ▶ Cork (Cobh), Ireland £1309PP ▶ Dublin, Ireland (Overnight On Board) ▶ Reykjavik, Iceland (Overnight On VERANDA FR.£1799PP Board) ▶ Akureyri, Iceland ▶ Belfast, Northern Ireland ▶ Southampton CONCIERGE FR.£1989PP NORTHERN EUROPE CAPITALS ® The Celebrity Silhouette is impressive, with chic CELEBRITY SILHOUETTE • 14 NTS • 13 JUNE & 18 JULY 2020 NOW FROM upgrades to the iconic Lawn Club, Celebrity have ▶ Southampton ▶ Copenhagen, Denmark (Overnight On Board) ▶ Stockholm, £1719PP provided more space to relax, and socialize in the Sweden ▶ Helsinki, Finland ▶ St. Petersburg, Russia (Overnight On Board) VERANDA FR.£2259PP fresh sea air, plus the Lawn Club Grill offers an ▶ Berlin (Warnemunde), Germany ▶ Arhus, Denmark ▶ Southampton CONCIERGE FR.£2449PP interactive outdoor grilling experience. After a day of adventure unwind in your own cabana-styled haven MEDITERRANEAN DELIGHTS at The Alcoves. 85% of the ship's luxurious staterooms CELEBRITY SILHOUETTE • 14 NTS • 01 AUG 2020 NOW FROM are enhanced by sweeping veranda views. £1699PP Celebrity Cruises -
GE Works GE 2012 Annual Report Annual 2012 GE
General Electric Company Fairfield, Connecticut 06828 www.ge.com GE Works GE 2012 Annual Report 2012 Annual Report 3.EPC055148101A.103 “ Last year we set focused execution goals for GE: double-digit industrial earnings growth; margin expansion; restarting CITIZENSHIP AT GE the GE Capital dividend to the parent; reducing the size of IN 2012, WE GE Capital; and balanced capital allocation. We achieved all As a 130-year-old ~ 2^]caXQdcTS\^aTcWP]!!\X[[X^]c^R^\\d]XcXTbP]S technology company, nonprofit organizations. of our goals for the year.” GE has proven its ~ ;Pd]RWTS abc^UPZX]S_a^VaP\bcWPcQaX]VcWT[PcTbc JEFF IMMELT, CHAIRMAN AND CEO breast cancer technologies to women. sustainability. Working Healthymagination and Susan G. Komen for the Cure have to solve some of the partnered to bring the latest breast cancer technologies to world’s biggest challenges, more women, by encouraging women to be screened through targeted programs in the U.S., China and Saudi Arabia. Citizenship is in the ~ 6T]TaPcTS! QX[[X^]X]aTeT]dTUa^\^daTR^\PVX]PcX^] products we make, how product portfolio. we make them, and in the difference we make 2012 PERFORMANCE in communities around GE’s newest Evolution Series GE is one of the largest locomotive prototype (pictured) employers in the U.S. and the world. reduces emissions by more than the world, with 134,000 70% compared with 2005 engines, U.S. employees and www.gecitizenship.com saving railroad customers more 305,000 employees globally, CONSOLIDATED REVENUES GE SCORECARD (In $ billions) than $1.5 billion in infrastructure as of the end of 2012. -
The New Ro-Pax Class Will Contribute to Climate Fight
news a Grimaldi Group Company 3/2018 THE NEW RO-PAX CLASS WILL CONTRIBUTE TO CLIMATE FIGHT SUSTAINABLE SHIPPING >> Modern GROWING WITH CUSTOMERS >> Reliable – IMPROVING CARGO HANDLING >> Efficient Contents Editorial 2 Emanuele Grimaldi awarded as Commander of the Order of the Lion of Finland 4 Community involvement in Finnlines 5 Finnlines’ actions in sustainable shipping 6 Six vessels 30 metres longer 7 Our ports – Uusikaupunki–Travemünde 8 FINNLINES TO BUILD NEW RO-PAX CLASS THAT Schedules 11–15 WILL CONTRIBUTE TO CLIMATE FIGHT THE BATTLE IS ON TO REDUCE CO2 EMIS- SIONS AND FOSSIL FUEL CONSUMPTION OVER A SHORT ENOUGH TIMESCALE TO ENSURE THAT OUR CHILDREN INHERIT A news WORLD IN ECOLOGICAL EQUILIBRIUM. Issue 3/2018 seq. no. 24 ithin our industry, the International Maritime Editor in Chief: Finnlines Organization has set the bar high: mandating an ambitious target of a 50% reduction in the Printed by: K-Print key greenhouse gas emission by 2050, com- Wpared with 2008 levels. Published by: Finnlines Plc Komentosilta 1 This is not the only toxic gas that we are collectively FI 00980 Helsinki seeking to reduce. Sulphur oxide emissions, too, must come www.finnlines.com down worldwide, and to this end regulators have decided press@finnlines.com the global fleet must from 2020 either use emissions abate- ment technology known as ‘scrubbers’ or run on cleaner fuel. Address changes: www.finnlines.com/finnlines-news At Finnlines we began preparing for these challenges several years ago. To comply with even tighter emissions Printed in November 2018. controls already in place in the Baltic and North Sea we Circulation: 15,500 copies kicked off a scrubber installation programme. -
Tallink Grupp Is the Leading Short Cruise and Ferry
TALLINK GRUPP IS THE LEADING SHORT CRUISE AND FERRY OPERATOR WWW.TALLINK.COM OVERNIGHT CRUISE & ONBOARD TAX-FREE CARGO GROUP OF STRONG BRANDS LEISURE & CITY BREAK 5 HOTELS PASSENGER TRANSPORTATION SHOPPING & CATERING TRANSPORTATION AS TALLINK GRUPP | Sadama 5/7 | Reg. Nr.:10238429 | Phone: +372 6 409 800 | Fax: +372 6 409 810 | E-mail: [email protected] | JULY 2018 | Investor Relations | E-mail: [email protected] | Phone: +372 640 9914 STRATEGIC PLAN WE OPERATE 7 ROUTES Tallink’s vision is to be the market pioneer in Europe by offering excellence in 5.5 m Other RUS Restaurant & shop Finland-Estonia leisure and business travel and sea transportation services 13% FINLAND LIT 2% 56% 36% 2% Turku Helsinki Long term objectives toward increasing the company value and profitability: LAT Mariehamn 4% SWEDEN Vuosaari Cargo - Strive for the highest level of customer satisfaction Kapellskär 12% - Increase volumes and strengthen the leading position on our home markets Swedish PASSENGERS Finnish Muuga 2017 Stockholm Tallinn - Develop a wide range of quality services directed to different customers and 12% 48% Paldiski 10.0 m ESTONIA REVENUE 2% Accom. REVENUE pursue new growth opportunities BALTIC SEA 1.3 m STRUCTURE 2% Leases BY ROUTES - Ensure cost efficient operations Estonian 3% Other Other - Manage the optimal debt level that will allow sustainable dividends 19% Riga Finland-Sweden 12% LATVIA 2.0 m Current focus is on core operations to realize past investments. Along with the 37% optimal fleet deployment the emphasis is on the profitability improvement and Ticket Swe-Est LITHUANIA 25% Swe-Lat 7% deleveraging.