Finnish shipping industry financial performance

Finnish shipping companies have reported divergent financial results for the first half of 2026, with both firms citing energy price volatility and geopolitical uncertainty as significant factors.

Finnlines reported increased revenue and operating profits, despite what CEO Thomas Doepel described as “structural volatility” in the shipping industry. This volatility was attributed to the Middle East conflict, a U.S.-Israeli attack on Iran in February 2026, and the subsequent closure of the Strait of Hormuz, which drove up energy costs. The company also noted the impact of the EU Emissions Trading System on environmental surcharges.

In contrast, Viking Line reported a decline in group sales and a drop in income before taxes. The company attributed its downturn to higher energy prices, an unusually severe ice winter, and weaker earnings from associated companies. While Viking Line saw a slight increase in passenger market share, cargo volumes decreased, and the board expects full-year 2026 income to be lower than in 2025 due to a cautious consumer market and energy price uncertainty.