Argosaronic Gulf News

The ultra competitive Greek ferry market has not only proven to be a fertile breeding ground for advanced marine technology, it has served as a role model for the direction of shipping services in both the region and the world. The Greek market has provided the collective builders and suppliers of advanced fast and conventional ferries a rich environment for business over the past few months, a trend that seems likely to continue. Specifically, Greek owners and operators have been at the forefront of an international buying binge for large, fast passenger, vehicle and cargo carrying craft. Driven by the need for speed, many owners are turning to advances in marine electronic and propulsion systems to ensure that the multi-million dollar investments are kept running safe and efficient.

Minoan Flying Dolphins acquired four ferries operating on routes to the Cyclades islands and the Argosaronic gulf. The vessels, which link the port of Piraeus with Paros, Naxos, Ios and Santorini with route extensions to Sikinos, Astypalea and Folegandros are expected to contribute about $7.9 million in revenues to the firm's total turnover. The latest purchases bring the company's total fleet to 67 vessels.