Finnlines is close to concluding a shipbuilding tender for three “green” ropaxes.
The target is to sign the orders this year or at the beginning of 2025, said chief executive Tom Pippingskold.
The order is part of a fleet renewal needed to align the company with tougher environmental standards in European waters.
The vessels are expected to enter the fleet on the Helsinki to Travemunde route.
Finnlines, which operates freight and passenger services in the Baltic Sea, North Sea and Bay of Biscay, has been forced to sell older vessels to comply with FuelEU Maritime regulation, Pippingskold said.
The vessels sold were not energy-efficient or did not comply with the new regulations and emission requirements.
Finnlines, which is part of Italy’s Grimaldi Group, has invested more than €500m ($544m) in more modern vessels to lower CO2 emissions. The latest order is linked to plans by Grimald to order nine ropaxes worth between $1bn and $1.5bn.
Helsinki-listed Finnlines revealed a set of improved third-quarter results.
Profits increased 85% year on year to €27.9m, up from €15.1m, while revenue rose 7% to €189.2m.
“In spite of somewhat unpredictable economic outlook and geopolitical challenges, Finnlines steams ahead,” Pippingskold said.
“We are financially strong, we also have an operationally and environmentally sound fleet, which will be further improved by new green-fuelled vessels, which will benefit Finnlines and also our customers when we both are reducing our emissions further.”
