Viking Lines financial problems have only worsened in recent months. Photo by Eoghan O'Lionnain.

TALLINN — The Finnish shipping company Viking Line lost triple the amount between November 2009 and April 2010 than it did during the same period a year ago.

The company which operates between Estonia, Finland and Sweden reported Tuesday that it ended up in €16.9 million loss even though consolidated sales rose by 1.5 percent thanks to higher passenger and cargo revenue. The company’s loss a year before was only €4.8 million.

Earnings deteriorated largely due higher fuel expenses, higher labor costs, and dry-docking of the Isabella after its accident and increased ice situation on the northern Baltic Sea this winter. Also the number of passengers decreased due strong competition. The company’s income after taxes was -€13.28 million. The number of passengers decreased by 89,942 people, which is 3.2 percent. A bright spot was the Helsinki-Tallinn route, where the number of passengers grew on Helsinki-Tallinn increased by 33,008 to 688,521.

Viking Line has been sailing between Finland and Sweden since 1959. Today Viking Line with its seven vessels operates between the Finnish mainland, Åland and Sweden, and between Finland and the Baltic states. The company also has a role as a cargo carrier.

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