A good article in Ålands sjöfart regarding Far East tourism as a new growth driver for our shipping companies. Likewise, “coolcation” as a new phenomenon is bringing us more and more tourists from Mediterranean countries in the summer.
“At the same time, climate and safety are playing an increasingly important role in travel trends. Viking Line points to the so-called ”coolcation” trend, where travelers are increasingly choosing cooler destinations instead of traditional holiday resorts in Southern Europe. This means that markets such as Spain and Italy are also starting to appear more clearly in the shipping company’s passenger statistics.”
At the same time, climate and safety have an ever-increasing significance in travel trends. Viking Line refers to the so-called “coolcation” trend, where passengers more frequently choose cooler destinations instead of traditional holiday resorts in Southern Europe. This means that market areas such as Spain and Italy are also starting to show up more clearly in the shipping company’s passenger statistics.
A mandatory defensive victory after the first quarter, this winter was once again plagued by a reasonably challenging ice situation. This has now been overcome, and attention is turning to spring and, above all, summer, when the price and availability of aviation fuel will strain airlines. In the upcoming holiday season, shipping connections may become invaluable.
Viking Line’s main owners certainly have their finances on an incredibly solid footing. There is, however, a small risk that if the share price continues to crawl along, the main owners might buy the company out “just because” it’s available for cheap. The risk is quite theoretical for now, but the profits have to be invested somewhere when money is coming in through the doors and windows. One can certainly have many opinions on the ethics of the tanker business, but anyone’s moral backbone tends to bend when nearly a hundred million hits the bank account annually.
On the other hand, this provides Viking Line with a sturdy backrest in case things get tough; for Ålanders, “Viikkari” is an inseparable part of their identity. The red color, originally inspired by a lipstick, will continue to shine on the sides of the ships from one generation to the next because traditions obligate the owners. Private equity investors won’t get a chance to destroy this business. Viking Line’s situation hasn’t always been this rosy, but over the years and decades, after a few storms, the stars have finally aligned.