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

Fuel-saving ferry, LNG-powered ships were 'main milestones' of 2017: Balearia

Operator lauds bunker-related projects as EBITDA and turnover grow.

The Regina Baltica, operated by Balearia. Image credit: Balearia

Updated on 23 Mar 2018 17:07 GMT

Spanish ferry operator Balearia says its commitment to LNG and the addition of the first of four bunker-saving 'eco fast ferries' to its fleet were two of the firm's "main milestones" of 2017.

Balearia noted that it invested EUR 125 million in acquisitions, new vessel construction and repowering last year as the company continued to focus on improving the fuel efficiency of its fleet and in the development of LNG-powered ferries.

In 2017, the first in a series of four eco fast ships, the Eco Aqua, started operating between the islands of Ibiza and Formentera. The other three vessels, Eco Terra, Eco Aire and Eco Lux are yet to be completed.

The fuel-saving ships are powered by state-of-the-art engines designed to minimize emissions and feature a wave-piercing bow and photovoltaic solar panels, supplying energy on board.

In terms of LNG developments last year, in February, Balearia ordered two new, dual-fuel, gas-powered ferries to be built at the Cantiere Navale Visentini shipyard in Italy. The vessels are expected to be operational by the end of 2018.

In January 2017, meanwhile, the company's 2010-built Abel Matutes was refuelled with LNG in Barcelona for the first time after being retrofitted with a 30-cubic-metre LNG storage tank and an auxiliary natural gas engine built by Rolls-Royce.

Balearia's fourth LNG-fuelled ferry, which was ordered in 2016 from Construcciones Navales del Norte SL (LaNaval) shipyard in Sestao, Spain, is scheduled to enter into regular service in 2019.

The ferry operator also noted in its analysis of 2017 that its commitment to expanding its geographical coverage and services resulted in its fleet sailing 15 percent more miles last year, but despite this, the eco-efficiency ratio for Balearia's next-generation ferries (which relates CO2 emissions with the passengers and cargo carried and the miles sailed) "only increased by 3.1 percent".

In its key financial figures for 2017, Balearia's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose by 3 percent to EUR 81.5m, whilst turnover grew 10 percent to EUR 362.6m.

Related Links:

Fenosa and Balearia ink Spain's first multi-year LNG bunker supply deal
Balearia's first bunker-saving 'eco fast' ferry in operation
Balearia launches first of four bunker-saving 'eco fast' ferries
Balearia and its commitment to LNG bunkers at MEPC 71
Balearia highlights LNG-fuelled ferries in presentation of corporate report

Latest News:

Aegean in court: The lowdown on Wednesday's hearing
Volatility continues as oil prices take a beating
Sulphur remover Genoil gets Pemex supplier certificate
Greek refiner and bunker seller HELPE 'well-positioned' for IMO 2020
Oil and fuel oil hedging market update
Singapore records best ever October bunker sales; YTD volume down 1%
Oil trading below $70 after highly volatile start to week
Genoil lowers fuel sulphur content in latest processing run
Aegean staff have been relying on compensation and benefits to support families: EY
Higher bunker prices help push up Hanwa's overseas revenue
Aegean doesn't have a centralized accounting system: EY director
Oil and fuel oil hedging market update

Page Links:

Latin America
Middle East
North America
North Europe
South Europe
Index Summary
Price Highlights
Las Palmas
New Orleans
Rio de Janeiro
Latest News
Middle East
Air Pollution
Agreements & M&A's
Alternative Fuels
Cargoes & Storage
Efficiency, Costs & Charges
Fuel Quality
Lubes & Additives
Oil Spills
Port News
Services, Products, Technology
Statistics & Research
Contact & Terms
Contact Us
Terms & Conditions
Privacy Policy
Upcoming Events