Finnlines growing in these difficult times
Traffic in the Baltic Sea started well in 2022. In Q1/2022 the Finnlines Group reported revenues of EUR 157 million (124.1 million in Q1/2021), an increase of 27% compared to the same reporting period in the previous year. Cargo volumes also surpassed 2021’s level and revenues from port operations soared on the back of growing cargo volumes.
Finnlines transported 199,000 cargo units from January to March (up by 6% from the 187,000 recorded in Q1/2021); shipped 36,000 cars (–18% vis-à-vis 44,000 in 2021) and carried 375,000 t of freight not measurable in units (+18.7% in Q1/2021 vis-à-vis 305,000 t in 2021).
The war in Ukraine is affecting the entire European economy and could also slow down business in Finland. Finnlines vessels have ceased operations to and from Russia, in line with EU sanctions.
Finnlines sold its ‘Finnclipper’ ro-pax vessel to the Grimaldi Group in March, but will soon replace it by purchasing the ‘Vizzavona’ ro-pax vessel (formerly the ‘Finneagle’) from its parent company, the Grimaldi Group.
Grimaldi and Finnlines’ ability to switch ro-ro and ro-pax vessels between the Mediterranean and Baltic Seas increases the line's flexibility when planning capacity. (sh)