FERRY PORTS

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Kiel’s Ostuferhafen Access Area Restructured

  • The Port of Kiel is completely restructuring the access area to the Ostuferhafen, its main cargo and logistics hub. It has begun the partial demolition of a former grain storage facility.
  • Result? The demolition along with the integration of adjacent areas will free up 2.8 hectares in the port access area on which expanded hard standing space can be created for trucks, trailers and cars.
  • Who benefits? DFDS, SCA, Iggesund, the forwarders (more space) and cruise shipping.

Photo: Tom Körber

EU Transport Commissioner Violetta Bulc Visits North Sea Port

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On 16 September North Sea Port received the visit of EU Transport commissioner Violetta Bulc. North Sea Port is the company managing three merged ports: Ghent, Terneuzen and Vlissingen.

In Terneuzen, the EU commissioner visited the building site of the New Lock. She was able to see the enlargement of the maritime access to the Ghent-Terneuzen Canal. Europe is supporting this project with a contribution of EUR 48m.

In 2022, the first ship will be sailing through the New Lock.

Ghent is an important base for DFDS.

IN THE MEDIA

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Bridges Linking The Estonian Islands Would Make Ferries Superfluous

Estonian ERR writes that ten companies and funds are interested to build bridges between the island of Muhumaa and the Estonian mainland, as well as between the islands of Hiiumaa and Saaremaa.

The way the bridges would be financed, would be decided by the new government elected next spring.

FERRY FINANCE

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Debt-free Minoan Lines Is In Excellent Shape

When going through Minoan Lines’ H1 report one will especially remark that the lack of debt obligations and the level of the Group’s cash balance means the company is in good shape.

A selection of significant events

  • The sale to Attica Holdings S.A. of 37,667,504 shares of Hellenic Seaways Shipping S.A., representing 48.53% of the paid up share capital, for a consideration of € 78,500.
  • In addition, the Company acquired the right to operate in the “Heraklion-Cyclades” route, while Attica Holdings S.A. and its affiliate companies undertook the commitment not to operate in this route for a period of three years.
  • The purchase of HIGHSPEED (renamed SANTORINI PALACE) from Hellenic Seaways Shipping S.A.
  • The purchase by a company owned by the Grimaldi Group of SUPERFAST XII.
  • Upon completion of all above transactions, the Company and the Group incurred no profit or loss. On 29/6/2018, the Company’s bond loan was fully repaid. As a result, on 30/6/2018 the Company has no short-term or long-term bank loans.

Figures (in thousands)

+ Turnover € 35,903 (€35,497)

– EBITDA € 8,505 (€ 9,682)

+ Net profit € 1,854 (€ 1,585)