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Lisco News

21 Jul 2009

Handling Declines 5% at Port of Kiel

The Port of Kiel handled 2.36 million tons of cargo in the first half of this year, 5% less than in the same period of 2008. The above-average decline was recorded in the breakbulk sector, which was comparatively hard hit by the current economic crisis. Against this background there has been a positive handling trend in ferry traffic since the second quarter. In June breakbulk handling also reached the level of the previous month. Dirk Claus, Managing Director of the Port of Kiel (SEEHAFEN KIEL GmbH & Co KG), said “in the wake of a weak first quarter, one main contributor to handling which is now again showing a positive trend was our entry into the container handling sector. Given the general economic situation, we can be satisfied with this handling result”.

14 May 2009

Port of Kiel Welcomes Lisco Maxima

The new Lisco Maxima, the biggest ferry to sail under the flag of Lithuania, was given an official welcome May 12 to mark her first call in Kiel’s Ostuferhafen. The ship will from now on be employed in the regular liner shipping service between Kiel and Klaipeda. She replaced the older, somewhat smaller, Lisco Optima on the same route. Dirk Claus, Managing Director of the Port of Kiel (Seehafen Kiel GmbH & Co KG), welcomed the vessel on behalf of the port and handed over the traditional first-call commemoration plaque to her captain. With six departures a week, Kiel-Klaipeda is currently the most important ferry service between Germany and the Baltic states. The Lisco Maxima was built in Italy and is of 25,760 gross tons.

12 Jul 1999

Lituania Rejects Shipping LISCO Bids

The Lithuanian privatization agency has reportedly rejected both offers for an 80 percent state stake in shipper LISCO because they were too low, the second time a tender for the shares has flopped.

12 Apr 2001

DFDS Tor Lines Considers LISCO Buyout

Danish DFDS Tor Lines is committed to considering a minority share buyout as part of the privatization of Lithuanian shipper LISCO, but did not specify a price. "In the sale and purchase contract with the government we have committed ourselves to consider offering a bid for the minority-owned shares," Peder Gellert-Pedersen, deputy director of DFDS Tor Lines, said. The government is in talks with DFDS Tor Lines to sell roughly 75 percent of LISCO to the Danish firm. The government has said it expects DFDS to pay roughly 200 million litas ($50 million) for the stake and invest another 350 million litas into the company. "For DFDS it would be a natural thing, but there's no commitment," Gellert-Pedersen added. In the previous attempt to privatize LISCO, the bidder, the Dutch B.B.

16 Apr 2001

Lithuanian Commission Approves Deal Between Lisco and DFDS

Lithuania's Privatization Commission said on Friday it approved the sale contract of the state-run sea shipper LISCO to Danish DFDS Tor Line - sending the draft to cabinet. "The Privatization Commission approved the draft contract and now the government will have to make a decision," a Commission official said. The government has said the Danish group would spend $107 million to get LISCO. Sources close to the deal said DFDS offered to pay the government $47.6 million up front for a 76-percent stake in LISCO and then invest another roughly $60 million in the company over the next three years. Under the proposal, DFDS would take control of the company's RoRo ferry business and some dry cargo or tramp ships, and the government would retain the bulk of LISCO's tramp fleet and other assets.

23 Apr 2001

DFDS Tor Line Takes Stake In LISCO

Danish sea shipping company DFDS Tor Line bought a majority stake in Lithuanian shipping line LISCO for $47.6 million to bolster its presence around the Baltic Sea. "We can use LISCO... to build a very strong base in the Baltic Sea... We also have to look at the Russian traffic," DFDS General Manager Ole Frie said. Lithuania's State Property Fund earlier said it signed a deal with DFDS to sell a 76.36 percent stake in LISCO to DFDS. The Danish company also agreed to invest another $60 million in LISCO over three years. "DFDS Tor Lines -- under the name of LISCO -- will operate six RoRo and RoPax vessels... plus six comparatively new multi-purpose LoLo vessels," the company said. LISCO shares closed 2.34 percent lower on Monday while the benchmark index ended down 2.25 percent.

04 Sep 2002

Fleet Privatizations Expected Soon For Lithuanian Companies

Following are financial details of a planned fleet privatization in Lithuania. JSC Klaipeda Transport Fleet (KTF) is one of the largest Lithuanian shipping companies, whose principal activities are transportation of refrigerated cargo by sea and lease of sea transport vessels. The authorized capital of the company as of December 31, 2001 amounted to about $38.3 million. KTF owns and operates 16 small- and medium-sized cargo reefers. The main cargo handled by the company includes frozen fish, meat, chicken, butter, fruits and vegetables. The capacity of KTF's vessels is from 85,000 to 470,000 cu. ft., the average capacity - 189,000 cu. ft. The total capacity of the fleet is 85,664 cu. m. According to this class of vessels, the company's fleet is the fourth largest fleet in the world.