Greek Ferries Chartered Out to Ease Cash Flow

Tuesday, October 16, 2012
A HSW Ferry: Photo credit CCL 2 Georgios Pazios

Several Greek coastal shipping firms have resorted to chartering their ferries on foreign routes in order to secure some liquidity and continue operating.

Companies believe that their smooth operation is being threatened by the negative course of the domestic maritime transport market as losses over the last three years have reached up to 1 billion euros, reports Greece insiders 'Kathimerini'.

Sources say that at least three ferry companies have chartered their vessels on routes outside Greece in the last few years. They are ANEK, Hellenic Seaways (HSW) and Maritime Company of Lesvos (NEL).

Source: Kathimerini

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