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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


Horizon's Hawaii Business Acquisition Cleared by DOJ

Horizon Lines, Inc. reported yesterday that, after a review by the Antitrust Division of the Department of Justice, Horizon's proposed sales transaction with The Pasha Group has been granted early termination of the premerger waiting period. This grant was effective April 21, 2015


‘Beware the Big Ship Hype’ -TT Club

Phillip Emmanuel (Photo: TT Club)

TT Club’s Phillip Emmanuel has put into perspective some of the “sensationalism” surrounding the recent growth trend in containerships. Speaking during a plenary session of the TOC Asia Conference in Singapore on Tuesday, he advised ports and terminals to take a measured approach


Swire Pacific Offshore wins Industry Award at IMA

Swire Pacific Offshore emerges as the winner of the SRS Shipowner of the Year award at the Singapore International Maritime Awards (IMA) ceremony held during the Singapore Maritime Week 2015

  Shipowner and operator, Swire Pacific Offshore Operations (Pte) Ltd (SPO) won the SRS Shipowner of the Year award at the Singapore International Maritime Awards (IMA) 2015 ceremony held on Tuesday, 21 April 2014 at The Ritz-Carlton, Millennia Singapore.  


Naust Marine Wins Huge Winch Order

VSV’s new F/V Breki (graphic depiction courtesy of Skipasyn)

58 electric winches for two new fishing trawlers   Hradfrystihusid Gunnvor (HG) and Vinnslustodin (VSV) recently awarded Naust Marine contracts to provide a complete suite of electric winches for their newbuild trawlers. Naust will supply no less than 29 winches per vessel


Great Lakes Shipyard Awarded Ferry Repair Contract

Photo courtesy of Great Lakes Shipyard

Great Lakes Shipyard has been awarded a drydocking contract for Miller Boat Line’s M/V Put-In-Bay.   The ferry was hauled out using the 770-ton capacity Marine Travelift at Great Lakes Shipyard. The repair contract includes drydocking, inspection and repairs


Singapore Port, Industry Honor MOL

At the awards ceremony, from right,  Minister for Transport Lui Tuck Yew, Mitsui O.S.K.Bulk Shipping- Asia Oceania- Pte Ltd Managing Director Toshiyuki Sonobe

  Mitsui O.S.K. Lines, Ltd. today announced that its group company in Singapore, Mitsui O.S.K. Bulk Shipping (Asia Oceania) Pte Ltd -which plays a central role in developing MOL Group business in Asia, Oceania, and the Middle East-received the International Maritime Centre (Corporate) Award


Kalmar RoRo forklifts for Messina Line

RoRo forklifts

  Kalmar, part of Cargotec, has clinched a further order to supply seven new Kalmar DCE330-RORO units to the leading Italian shipping firm Messina Line (Ignazio Messina & C S.p.a). The expansion of Messina's fleet has been made in preparation for larger vessels soon coming to their


Cheaper Fuel to Boost Container Shipping

Photo: Tanner Matheny

Lower oil prices are sharply reducing the cost of shipping merchandise from Asia to the United States and Europe as the cost of bunker fuel tumbles. Container shipping companies deal with the volatility in fuel prices by adding a separate bunker adjustment factor or fuel surcharge to their


Underway on LNG

Dennis Bryant

On 17 January 1955, Commander Eugene P. Wilkinson, USN, the first Commanding Officer of USS Nautilus (SSN 571) signaled the memorable and historic message “Underway on nuclear power.”  Underway on LNG has an opportunity to signal an equally significant change in the merchant


Hapag-Lloyd Orders 5 Ships for More Panama Canal Trade

Ship container line Hapag-Lloyd has placed an order for five vessels as it looks to bolster trade in Latin America ahead of next year's planned expansion of the Panama Canal, the world's fourth biggest player said on Monday.   Workers are installing 22-storey lock gates to accommodate


APL, MOL, NYK Launch Joint Service

APL, Mitsui O.S.K. Lines (MOL) and Nippon Yusen Kaisha (NYK) have together launched a new joint service between trading hubs in Asia and ports in Mexico, Colombia and Panama.   In a joint statement made by the carriers, APL, MOL and NYK said Asia is an important market for exporters in


ICS Dismisses Claims of Worsening Ship Efficiency

The International Chamber of Shipping (ICS) has dismissed the recent claim by the European environmental lobby group Transport and Environment (T&E) that modern ships are somehow less CO2 efficient than those built over 20 years ago as ‘fanciful’.


USCG Rescues Disabled Fishing Vessel

A 47-foot Motor Lifeboat crew from Coast Guard Station Gloucester, Mass., tows the 61-foot fishing vessel Angela Michelle to port, April 19, 2015.  (U.S. Coast Guard photo by Petty Officer 2nd Class Mark Robinson)

  A fishing crew is back on land today after a fouled anchor line stranded them about 115 miles east of Gloucester, Massachusetts, Saturday. Initially, the four-person crew aboard the 61-foot fishing vessel Angela Michelle contacted the Sector Boston Command Center when their line became


Drydocks World Secures New ISO Certificate

Drydocks World winning a new ISO certificate

  Drydocks World the international service providers to the shipping, offshore, oil, gas and energy sectors won the ISO 3834-2: 2005 certificate for quality requirements on fusion welding of metallic materials. This certificate validates Drydocks World’s capabilities in line with


U.S. Ports Expands to be with Panama’s $5 Billion Canal Upgrade

Image: Panama Canal Authority

 A report in the USA Today says that the U.S. ports are busy deepening harbors and building bigger terminals to draw the bigger ships. Across the USA, public ports and their private sector partners will spend more than $46 billion in port-related improvements through 2016






 
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