Wasaline Optimistic about 2025 Despite 2024 Revenue Drop

Finnish shipping line Wasaline has expressed optimism about its financial results despite emission trading system (ETS) fees becoming a new expense for the company.

Wasaline transports passengers and freight daily between Vaasa in Finland and Umeå in Sweden.

It is the only passenger shipping company in Finland that does not have an exemption from ETS fees. The so-called Island Exemption, which grants relief from paying ETS, applies between Finland and Åland.

Wasaline managed to reduce total CO₂ emissions by 5% in 2024. The use of green shore power increased by 22% during the year. At the beginning of 2024, the concept of emission-free conferences was introduced onboard Aurora Botnia.

LNG remained the primary fuel, and as a hybrid vessel, Aurora Botnia extensively utilized its batteries. Both passengers and cargo customers have been able to offset their journeys to make them climate neutral.

Cargo meters increased by 3.2% in 2024, and cargo units by 1.4%. The number of passengers decreased by 9.4%. Passenger vehicles declined by 9%, and buses decreased by 1.3%. Revenue fell by 3.7%.

"As we enter 2025, the world continues to be marked by economic uncertainty and an accelerated green transition. Technological advancements, particularly in sustainable innovation, are driving progress, while younger generations are placing increasingly higher demands on environmental and social sustainability. At the same time, trade, supply chains and businesses globally are being affected by the climate crisis and geopolitical tensions," says Peter Ståhlberg, Managing Director of Wasaline.

"Despite all the challenges, 2025 has started well with increased volumes and strong booking levels for both passengers and cargo. There are many uncertainties related to the current geopolitical situation, which impacts energy costs and emissions trading. However, travel is on the rise again, and sustainable transport is becoming increasingly important."