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Cyclades Islands News

12 Jun 2000

Greek Ferries: The New Business Model

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.

04 Nov 2005

Sea Containers to Restructure Ferries Division

its ferries division and other matters. Background The company's ferries business is composed of three units. ferries, ro-pax ships, fast ferries and cruise ships. European waters other than in the Baltic. Manhattan. services to Estonia, the unsuccessful m.v. the Swedish market introduced by competitors. reputation for quality, with its core business remaining profitable. large measure to high fuel prices. recover the extra cost through fuel surcharges. earnings. capacity and reduced profits from low tax merchandise sales. Channel. loss in 2005 due largely to high fuel costs. such increases to a certain level before switching to cars, buses and trains. eliminate or greatly reduce the operating losses being incurred. to buy the business. controlled auction of Silja.

08 Nov 1999

Minoan Flying Dolphins Buys Six Ferries

Minoan Flying Dolphins bought six ferries, operating in the sea routes linking the ports of Piraeus and Rafina with the Cyclades islands, from businessman Costas Agapitos. The cost of the acquisitions was not released. The ferries are Express Afrodite, Express Athena, Express Apollo, Express Hermes, Express Olympia and Express Santorini. The fleet additions will quadruple the present carrying capacity of Minoan Flying Dolphins in the Cyclade island routes. The number of passengers is expected to increase by 18,000 daily.

19 Nov 1999

Minoan Buys Four Ferries

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.