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Sunday, December 4, 2022

Hurtigruten sails towards profits

For the first time in a decade, Norway’s coastal voyage line Hurtigruten would have logged a black bottom line if it hadn’t been for some high one-time costs tied to its acquisition and delisting as a public traded company. Company officials are pleased, and expect more operating profits ahead.

The Hurtigruten vessel "MS Richard With" is a sistership of the stricken "MS Nordlys," but hasn't been taken out of service. PHOTO: Hurtigruten
Hurtigruten’s vessels are enjoying much smoother sailing after years of turbulence. PHOTO: Hurtigruten

“We’re super-satisfied,” Hurtigruten boss Daniel Skjeldam told newspaper Dagens Næringsliv (DN). The shipping line that carries passengers and some vehicles and cargo, stopping at many tiny ports between Bergen and Kirkenes, logged a profit of NOK 70 million (USD 9 million) after adjustments for its one-time costs last year.

Hurtigruten was taken over last year by the British investment fund TDR Capital in November, in a deal valued at nearly NOK 3 billion. The line has 11 cruise-like ships, nine of them built since 1993.

The venerable shipping line has also experienced strong passenger growth and is expecting more passengers to spend more money on board, as it improved menus and tourism offerings. Winter tourism has also grown rapidly, turning what used to be the off-season into ships full of visitors hoping to see the Northern Lights.

newsinenglish.no staff

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