RoRo and Ferries Push Clipper Groups Earnings Up

Clipper Group Profiting from strong results in the two major business areas of ro-ro and ferries, the Danish shipping company Clipper Group A/S reported a rise in its full year 2015 net result as it increased from USD 6 million seen in 2014 to USD 13 million. Net revenue for the period was at USD 207 million, a drop from USD 269 million recorded in 2014, which was in part attributed to reduced activities within the companys chemical tankers segment, the Danish subsidiary of Clipper Group Ltd said. The companys primary activities are ro-ro activities on the Irish Sea through Seatruck Ferries and ferry services in Denmark through Danske Færger, as well as technical management through Clipper Fleet Management. The company sold its last chemical tankers during 2015. Both Seatruck and Danske Færger continue to perform very well, and the selling of our last chemical tankers have also contributed to a stronger result, though reduced revenue, Flemming Steen, CFO of Clipper Group, said. Ro-ro activities on the Irish Sea Seatruck Ferries, which operates six ro-ro ferries between Ireland and England on three routes, reached a record-breaking year with just under 290,000 freight units transported, representing a growth of 3.4% compared to 2014. Danske Færger A/S manages seven national ferry routes in Denmark. Compared to 2014, the traffic on all routes increased by 4.3% on cars and 1.1% on passengers. By the end of 2015, Clipper Fleet Management had 30 vessels in technical management, including both bulk, multipurpose and cruise vessels.