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Minoan Lines

Minoan Lines To Propose Three-For-One Issue

Greek passenger shipping firm Minoan Lines' board will propose a one-for-three bonus share issue to shareholders at its upcoming annual general assembly. The bonus shares will arise from capitalization of around $52.4 million out of a total $198.1 million share premium reserve, company officials said. The board will also propose the distribution of a 100 drachma ($.29) dividend per share for fiscal 1999, a total of 5.3 billion drachmas ($15.4 million), which is around 13 percent higher than the total 1998 dividend.


Minoan Flying Dolphins Acquires Five Ferries

Minoan Flying Dolphins Acquires Five Ferries Minoan Flying Dolphins, a subsidiary of Minoan Lines, has acquired five used ferries that service routes linking the port of Piraeus with islands in the Saronic Gulf. The ferries are F/B Nefeli, F/B Georgios, F/B Saronikos, F/B Eftyhia and F/B Express Danae. "The move implements part of the company's business plan in the Saronic routes, a market of about three million passengers annually," a Minoan Flying Dolphins spokesperson said


Minoan Mulls Route Expansions

Greek ferry operator Minoan Lines said on Monday it plans to expand into new sea routes linking the ports of West Italy with Malta and Tunisia and later expanding to French ports in the Mediterranean. The company's statement on its plans was issued after Minoan's chairman Costas Kleronomos announced the decision during the delivery ceremony of the operator's newest vessel, the 2,200 passenger Festos Palace, over the weekend at Fincantieri shipyards in Genoa, Italy.


Ferry Accident Blamed For Minoan's Plummeting Stock Price

Shares of ferry operator Minoan Lines fell around 11 percent in late session trade on the Athens stock exchange on Wednesday, near the bourse's 12 percent limit down, after one of its ferries sank late on Tuesday, killing 48 passengers. Traded volume was 979,939 shares. The shares were trading at 2,995 drachmas ($7.78), up slightly from its day low of 2,935 drachmas, representing a fall of more than 11 percent. But brokers said the share price loss was likely to be temporary.


Minoan Studies Adriatic Market Expansion

Minoan Flying Dolphins (MDF), a subsidiary of ferry operator Minoan Lines, is looking into deploying high-speed ships in the Adriatic market. MDF took out an option for two additional newbuildings with Austal shipyards in Australia, deliverable in 2001. The company already has three high speed vessels on order with Austal.


Minoan Subsidiary Picks Up Three More Vessels

Minoan Lines' 70 percent-owned subsidiary Minoan Flying Dolphins has maintained its very active buying spree of late with the announcement that it has acquired three ferries from the shipping family Nomikos for an undisclosed amount. The ferries are F/B Anemos, F/B Lemnos and F/B Macedon. F/B Anemos services the sea route linking the port of Piraeus with the islands of Ikaria and Samos in the Dodecannese, also making stops in the Cycladic islands


Greek Authorities Issue 32 New Operating Licenses

Greek Merchant Marine Minister Christos Papoutsis has signed 32 new operating licenses to passenger shipping firms in a bid to improve competition in the industry. "Until deregulation of sea travel in 2002, new applications submitted for licences will be examined immediately," the ministry said. "The criteria the applications will be examined upon will the public's interest, unimpeeded access to the islands and healthy competition


Minoan Ferry Sinking Cited as Worst Maritime Disaster in 35 Years

Rescuers pulled bodies from the Aegean sea on Wednesday as the death toll from Greece's worst maritime disaster in 35 years climbed to at least 62. The ferry Express Samina ran into a rocky islet off the holiday isle of Paros and sank in gale-force conditions late on Tuesday. Hundreds of Greek and foreign passengers were hurled into the rough waters. Twenty-nine people were missing, the Greek Merchant Marine Ministry said.


FLAGSHIP-ISEMS Delivers Integrated Ship To Shore Incident Response

FLAGSHIP-ISEMS.bmp

FLAGSHIP, the pan-European maritime transport project part funded by the EU, has developed an integrated, ship to shore system, for the control and monitoring of passenger safety functions on board ship utilising both fixed and mobile assets.  Called FLAGSHIP-ISEMS (Integrated Safety and Emergency Management System), the system enhances the onboard ability to handle emergencies while also making full use of real-time communication between the ship and onshore facilities


FLAGSHIP-iCAS: Optimum Situation-Awareness In An Emergency

Courtesy of Kongsberg 5

FLAGSHIP, the Pan-European maritime transport project part funded by the EU, has successfully developed software that enables comprehensive suppression of audible warnings in order to avoid large cascades of alarms on the bridge and in the engine room. Called iCAS (intelligent Central Alarm System),  the system is designed to provide a precise overview of the situation on board as it develops while freeing up staff to address the situation and follow the vessel’s routines without


MSC Oscar is the World’s Largest Containership

MSC Oscar (Photo: MSC)

MSC Oscar, the newest cargo vessel built for Mediterranean Shipping Company (MSC), will launch in January 2015, and at 19,224 teu, the containership will take the record for world’s largest.   MSC Oscar possesses a nominal capacity of 19,224 teu


Duffy Named President of Carnival Cruise

Christine Duffy

  Carnival Corporation & plc., the world’s largest travel and leisure company, today announced that Christine Duffy has been named president of Carnival Cruise Line, with 24 ships, making it the largest of Carnival Corporation’s nine distinct cruise brands.  


NPCT1 to Develop New CT in Jakarta

Logos

  PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”) have agreed to jointly participate in the construction and operation of a new


Gatto Industrial Starts Electroplating in North America

Gatto Large Parts Plating Line 2

  Gatto Industrial Platers, Inc. has launched its new Large Parts Zinc Electroplating Line, capable of plating parts up to 27 feet long and weighing up to 8,000 pounds. The new line’s tanks are 4 feet wide, 7.5 feet deep and 27 feet long


Fincantieri Wins Carnival Cruise Ship Order

 Fincantieri SpA

 Fincantieri SpA has been awarded an order by Carnival Corporation & plc for the construction of two new cruise ships for Carnival Cruise Line and Holland America Line. Both will be sisters ships respectively to Carnival Vista and Koningsdam


US Shippers, West Coast Dockworkers Union Resume Contract Talks

Photo: Port of Long Beach

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports, a representative for the labor group said.  


K Line to Expand Use of Eco-efficiency Software

Photo: K Line

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA and ClassNK announced a deal with Kawasaki Kisen Kaisha Ltd. (K Line) to install an eco-efficiency and operational


NRL Researchers Demo Ship-to-Shore Data Link

The TREC test assembly shown on the charter vessel as it enters the Port of Miami. Researchers established communications links with a similar terminal located on the roof of one of the buildings in the distance. (Photo: U.S. Naval Research Laboratory)

Scientists at the U.S. Naval Research Laboratory (NRL) along with Mercury Continuity (MC) have demonstrated the Tactical Reachback Extended Communications (TREC) system in the port of Miami.    The NRL-developed communications technology


Transpacific Container Shippers Plan Price Rise

File photo: containership at dock.

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level. The Transpacific Stabilization Agreement (TSA) said the planned


Maersk to Continue Russian Operations

Denmark's A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble's collapse. "The Group's business with Russia amounts to some two to three percent of our total revenue


Duffy Named President of Carnival Cruise Line

Christine Duffy (Photo: Dave Cross)

Christine Duffy has been named president of Carnival Cruise Line, Carnival Corporation & plc. announced today.   Duffy, currently president and CEO of Cruise Lines International Association (CLIA), will assume the new role on February 1, reporting to Arnold Donald


Transpacific Box Shippers Plan Freight Rate Rise

Photo: Maersk Line

A container shipping organisation urged companies on Wednesday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU) from Jan. 15, corresponding to an increase of 26.6 percent from the current level.   The Transpacific Stabilization Agreement (TSA) said the planned


First ShipArrestor System Delivered in Norway

The ShipArrestor lassoes a target vessel during a trial

Following a full product trial in New Zealand, the Norwegian Coastal Administration (NCA) has signed its acceptance of the first of two ShipArrestor systems from Miko Marine, making Norway the first country with a system that gives it the ability to protect its shores from the danger of drifting


Maersk: Rate Hike Under Pressure on Low Demand

Image: file photo

Container shipping firm Maersk Line said a fresh attempt made on Monday to raise freight rates on main routes from ports in Asia to those in northern Europe was already under pressure due to weak demand from shippers. Maersk Line, a unit of Danish conglomerate A.P


CSL St-Laurent on Maiden Voyage

CSL Trillium Class Great Lakes bulk carriers

  The second of Canada Steamship Lines' (CSL) two newbuild Trillium Class Great Lakes bulk carriers, CSL St-Laurent, was delivered on November 26, 2014 and set sail on her maiden voyage on December 13. She departed at 20:00 CST from Yangfan shipyard on Zhoushan Island, China






 
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