BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry



« News Home
:: Monthly Archive

News Topics
:: Air Pollution
:: Agreements & M&A's
:: Alternative Fuels
:: BunkerBlog
:: Cargoes & Storage
:: Company News
:: Efficiency, Costs & Charges
:: Environment
:: Events
:: Financial
:: Fuel Quality & Testing
:: Lubes & Additives
:: Oil Spills
:: People
:: Port News
:: Projects
:: Regulation, Legal
:: Services, Products,Technology
:: Statistics & Research
:: Vessels

Regional Archive
:: Americas
:: Asia/Oceania
:: Europe
:: M.East/Africa


BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
Home » News





Trasmediterranea posts drop in earnings, citing higher bunker costs

01 Aug 2017 13:40 GMT

EBITDA fell 88.7 percent to EUR 2 million in H1.



Spanish ferry line Trasmediterranea posted a decrease in earnings before interest, taxes, depreciation, and amortization (EBITDA) for the first six months (H1) of 2017, with the increase in bunker costs cited as one of two key factors that led to the decline - together with the higher number of routes compared to 2016.

Year-on-year (YoY), the operator's EBITDA fell EUR 11 million, or 88.7 percent, to EUR 2 million in H1.

Trasmediterranea's H1 revenue, meanwhile, dropped 2.2 percent YoY to EUR 190 million.

As Bunker Index previously reported, Trasmediterranea launched a new high-speed service connecting the Spanish mainland to Ibiza in H1 - on April 12.

Speaking at the time, Trasmediterranea's general manager, Mario Quero, said that the problem with high speed was that the business model "is very exposed to fuel volatility".

"High speed makes sense when distances are short and justified, and when the fuel price is at moderate levels," Quero remarked, adding that high-speed ferries for longer distances "would not make much sense".

The ferry line has been keen to limit its fuel risk exposure following past experiences. Referring to what happened to the company back in 2007 and 2008 during a period that saw Brent rise to record levels, Quero said that an increase in the price of bunker fuel led to "a rupture in the financial balance of the project".

"We have to refer to models where exposure to fuel volatility produces the least possible impact," Quero said in April.






Related Links:

Trasmediterranea rules out long-distance fast ferries due to bunker price volatility

Latest News:

Furukawa Battery certified as approved supplier of marine batteries
Quadrise: Fuel production system commissioned in Saudi Arabia
Is oil heading for the 70s or lower 60s?
Oil and fuel oil hedging market update
FIS expecting strong HSFO paper liquidity 'right up to deadline day' in 2020 and beyond
GTT hails 'great start to the year' with LNG tank orders
Rotterdam posts lowest calendar year bunker sales of the 2010s
Bomin to launch physical supply of ULSFO in ARA region
Viking Line's bunker costs jump 18.3% in 2017
Vopak's net profit dips 12% in 2017
Odfjell posts rise in FY and Q4 2017 bunker costs
Oil and fuel oil hedging market update




Page Links:

Prices
Africa
Asia
Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Commentaries
Futures
Prices
Antwerp
Busan
Cape Town
Fujairah
Houston
Istanbul
Kaohsiung
Las Palmas
Maracaibo
New Orleans
Piraeus
Rio
Rotterdam
Santos
Singapore
News
Latest News
Blogs
Archive
Americas
Asia
Europe
Middle East
News
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Environment
Events
Financial
Fuel Quality
Lubes & Additives
Oil Spills
People
Port News
Projects
Regulation/Legal
Services, Products, Technology
Statistics & Research
Vessels
Contact & Terms
Contact Us
Advertise
Terms & Conditions
Privacy Policy
Events
Upcoming Events