Marine link
 

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 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


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 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.


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


Containerships: G6 Alliance Alters Routes on Seasonal Demand

Temporary suspension of Central China (CC2) Service / All ports covered by other G6 services   In response to seasonal changes in market demand, the members of the G6 Alliance announced the temporary suspension of their Central China (CC2) service between Asia and the U.S


Continership Alliance Expands to US Trades

Photo courtesy of Evergreen Line

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE files an Agreement and reports to related regulators to comply with their regulations.    


Holland America Line & Seabourn names Kammerer is V.P

Mark Kammerer

  Mark Kammerer has been named vice president, international marketing and sales for Holland America Line and Seabourn. In this role, he will be responsible for the companies’ sales offices in the U.K., the Netherlands and Australia


Zamakona Yards Delivers Tuna Freezer Vessel

Zamakona Yards delivers a second tuna freezer vessel to the Jadran Group

  Zamakona Yards yesterday celebrated in Getxo (Bizkaia) the delivery of the tuna freezer vessel LJUBICA, their latest construction to the owner group Jadran based in Ecuador and Panamá. The event was attended by over 200 people, including authorities and guests


Maersk Line Opens New Container Depot

Photo courtesy of Maersk Line

Maersk Line announced the opening of a new container depot at Nexus Industrial Estate in Altona, Australia, officially opened by Victorian Minister for Ports and Major Projects, the Hon. David Hodgett MP. Through taking over a 5ha facility


MOL to Launch Biannual Vessel Safety Campaign

MOL Performace (Photo: MOL)

Mitsui O.S.K. Lines, Ltd. (MOL) today announced the launch of its biannual campaign on October 15, targeting all MOL-operated vessels. As part of its safety efforts, President Muto, executives and other personnel will conduct an extensive series of visits to MOL-operated vessels in Japan and


New Underwater Beacon for Ship's VDR

RJE International has a new line of underwater locator beacons for Voyage Data Recorders (VDR’s) on large ships.  The ELP-362M series of beacons is mounted on a ship’s black box to facilitate location and recovery of data analysis, in the event of an accident.


TEN Comments on Tanker Market Conditions

Photo: Tsakos Energy Navigation

Crude price drop and dollar strength benefit TEN’s bottom line materially; third quarter financial results to be announced on November 21, 2014 Crude, product and LNG tanker operator Tsakos Energy Navigation Ltd. (TEN) said today it believes that the recent decline in TEN’s stock is


Maersk to Bump Asia-Europe Rates

File photo: a Maersk containership

Container shipping company Maersk Line, a unit of Danish conglomerate A.P. Moller-Maersk , plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Nov 1. Rates for twenty foot equivalent unit containers (TEU) will rise by $900


MOL Launches Ship Management, Training Businesses

Mitsui O.S.K. Lines, Ltd. (MOL) today announced that the company has established MOL Synergy Marine (Singapore) Pte. Ltd. jointly with Synergy Group , a ship management services group in Chennai, India, to provide ship management and crew training services.


Kiel's 2014 Cruise Shipping Season Ends

Photo: Port of Kiel

Expanded terminal capacities created at Berth 1 This year’s cruise shipping season in Kiel closes on the evening of October 18 when the AIDAcara sets sail for the Canary Islands. Dr. Dirk Claus, the Managing Director of the Port of Kiel (SEEHAFEN KIEL GmbH & Co KG), said


Long Beach Officials on Trade Mission in Asia

Photo: Port of Long Beach

Meeting with shipping lines to build business for Port of Long Beach Long Beach Mayor Robert Garcia, Harbor Commissioners and senior Harbor Department staff are traveling to several Asian countries, meeting with the Port of Long Beach’s key customers to retain and bring more business to


Cruise Ship Returns to Texas after Ebola Concern

Carnival Magic (Photo: Carnival)

The Carnival Magic cruise ship was en route back to the United States on Saturday with a passenger from Texas who might have handled specimens of the first Ebola patient diagnosed in the United States but is considered at low risk, a company spokeswoman said.


SOSI Delivers Mooring Winches; Completes Test Pad

Photo: SOSI

Sound Ocean Systems, Inc. (SOSI) announced the delivery of two unique mooring winches, both tested on its newly constructed test pad at its primary manufacturing facility in Sultan, Wash. Mooring Winches Delivered SOSI recently delivered two all-electric, custom designed


Long Beach Port Honors OOCL Executive

Shipping line CEO Andrew Tung receives ‘Port Pilot Award’

  Andrew Tung, CEO and Managing Director of Orient Overseas Container Line, was presented today with the prestigious “Port Pilot Award” by the Long Beach Board of Harbor Commissioners. Tung is the 77th recipient of the award






 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright