INVESTOR NEWS no. 39 - 12 December 2025 Ferry – freight: Total volumes in November 2025 of 3.6m lane metres were 1.8% below 2024 and 3.8% lower adjusted for route changes. YTD growth rates were -0.4% and -1.8%, respectively. North Sea volumes were below 2024 following soft volumes on most routes. Mediter-ranean volumes were as expected below 2024 due to capacity reductions. Channel volumes were on level with 2024 as the new Jersey volumes offset a slow-down in the total Dover Strait volumes. Baltic Sea and ...