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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


Will Zim Join 2M?

Photo: ZIM Integrated Shipping Services Ltd

 Israeli carrier Zim Integrated Shipping Services (ZIM) might join the 2M Alliance between Maersk Line and Mediterranean Shipping Co., Alphaline said quoting industry sources.   This news followed the last week's news of South Korea’s Hyundai Merchant Marine (HMM)


OOCL Tops the Chart in Reliability

Photo: Orient Overseas Container Line

 According to the latest Carrier Performance Insight, produced by Drewry Supply Chain Advisors,  the most reliable carrier in May was Orient Overseas Container Line (OOCL), which had an on-time reliability average of 81.1%, closely followed by niche carrier Wan Hai at 81.01%. 


Fincantieri Delivers Seven Seas Explorer

Seven Seas Explorer (Photo: Fincantieri)

The first of two ultra luxury cruise ships delivered for Regent Seven Seas Cruises   Seven Seas Explorer, the newest ultra luxury ship of Regent Seven Seas Cruises, a brand of Norwegian Cruise Line Holdings, was delivered at Fincantieri’s shipyard in Sestri Ponente, Genoa


Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will impact negatively on all parties involved in the container shipping segment – from shippers


MAST, AMSA Partner for Risk Management Services

Phil Cable (Photo: MAST)

Maritime security company Maritime Asset Security Training (MAST) has announced their partnership with Astbury Marine Services & Associates (AMSA), a specialist shipping and insurance response business.   The combination of front-line experience and industry knowledge place MAST and


UASC Shareholding States Vote to Back Hapag-Lloyd Merger

Photo: UASC

United Arab Shipping Company (UASC) said its six shareholding states backed a merger deal with German container shipping line Hapag-Lloyd AG at a meeting on Wednesday.   UASC, majority-held by the government of Qatar, said in a statement that "..


Groningen Seaports First in Line for Damen InvaSave

Image: Damen

The first production version of Damen’s InvaSave ballast water treatment system – intended for use at Groningen Seaports – will be on display at the upcoming ‘DelfSail’ sailing festival between June 30 and July 3 in the city of Delfzijl, the Netherlands.  


First MAN D2676 Workboat Engine Ready for Launch

The Gilnetter LT32 from Mavrik Marine is set to be launched in late autumn 2016. (Photo: MAN Engines)

Last December, MAN Engines introduced its latest generation in-line six-cylinder engines for workboats. Now the first MAN D2676 LE443 engine off the production line will be installed aboard the new salmon fishing boat, LT32 Gilnetter, built by the Mavrik Marine boatyard in Washington State and set


EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

File photo: Maersk Line

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday.  


EU to Accept Antitrust Offer From Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe, three people familiar with the matter said on Tuesday.  


Hapag-Lloyd Agrees on Merger Terms with UASC

Photo: Hapag-Lloyd

German container shipping line Hapag Lloyd AG on Tuesday said it has reached an agreement on terms and conditions of a business combination agreement with Arab peer United Arab Shipping Company (UASC).   The deal, which would involve all shares in UASC being moved to Hapag-Lloyd


Evinrude Expands E-Tec G2 Horsepower

Evinrudes new E-Link technology that allows boaters to access engine data and controls through their smart phones Photo BRP

BRP (TSX:DOO)announced today the release of the next generation of Evinrude E-TEC G2 models with horsepower ranging from 150 to 200, the E-TEC G2 150, 150 H.O., 175 and 200. Building on the success of the 200 High Output (H.O.) to 300 horsepower models launched in 2014


The Odd Trio: HMM, Maersk and MSC

Photo: Mediterranean Shipping Company

 In one of the more bizarre twists in the container shipping market it emerged last week that financially troubled carrier South Korean Hyundai Merchant Marine (HMM) is in talks with the world’s two largest lines, Maersk Line and MSC about the possibility of joining them in the 2M


Will Maersk Line acquire HMM

Photo: Maersk Line

 There are rumours among observers that the  market leader Maersk Line is planning to acquire South Korea’s shipping major Hyundai Merchant Marine (HMM).   Neither company has commented on the matter. Both companies were tight-lipped today on merger talk.  


Traffic Separation Schemes off Western Australia

Traffic Separation Schemes south-west WA Image courtesy AMSA

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish the schemes was approved by the International Maritime Organization earlier this year and adopted by its Maritime Safety






 
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