Fjord Line deeper in the red

Bergen-based passenger ferry operator Fjord Line has uncovered losses of NOK 133 million last year and has announced results after tax of minus NOK 206 million.

The share capital of NOK 103,7 million is likely to be written down to NOK 2.0 million.

In the annual report Color Line is given much of the blame for the Fjord Line problems.

Little over a year ago Color Line establised a competing ferry line from Bergen via Stavanger to Denmark and Fjord Line claim the line is deliberately run at a loss to force Fjord Line out of business.

The Norwegian competition authority is investigating the matter, but has reached no conclusion as yet.

Fjord Line's route to Denmark carried 5,7 per cent fewer passengers at 296,500 last year, while the route to Newcastle was down 16,5 per cent at 145,400.

IJmuiden - Newcastle

1 x Foot Passenger(s) Return

Travelling on: 06/10/2012 - 09/10/2012

£141

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Dover - Calais

Car + 2 Return

Travelling on: 11/06/2012 - 11/06/2012

£19

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Dover - Calais

Car + 4 Return

Travelling on: 16/06/2012 - 16/06/2012

£19

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* Prices are "from prices" and are indicative only

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