Fleet Reshuffling on the Piraeus- Crete Service

By | 2020 Newsletter week 40 | No Comments

A fleet reshuffling is in progress on the Piraeus-Crete service due to scheduled ferry inspections and repairs.

ANEK Lines

  • KRITI II will replace the cruise ferry ELYROS on the Piraeus-Chania line
  • Her sister KRITI I (will be introduced on the Piraeus-Heraklion line on October 3

Hellenic Seaways/Blue Star Ferries

  • NISSOS RODOS replaced the Blue Star Ferries’ BLUE HORIZON on the Piraeus – Heraklion run on 24 September.

HSW’s EXPRESS PEGASUS Introduced on the Crete-Dodecanese Subsidized Line

By | 2020 Newsletter week 32 | No Comments

The Hellenic Seaways’ veteran EXPRESS PEGASUS will be introduced –-summer season 2020– on the Sitia (Crete)-Kasos-Karpathos-Rhodes subsidized line.

From August 5 to September 27, the ferry will connect Crete with Dodecanissa for the first time in her Greek career. The ship is expected to leave the port of Piraeus soon.

According to the schedule she will depart every Monday, Wednesday and Friday at 11.00 from Sitia and every Tuesday, Thursday and Sunday at the same time from Rhodes.

EXPRESS PEGASUS was built in Italy in 1977. Her carrying capacity is for 1.294 passengers and 185 private cars.


By | 2019 Newsletter week 40 | No Comments

Attica Group H1 (Including Hellenic Seaways)

Grimaldi Group returned to the European Investment Bank, asking for €70m, on a total cost of €150m, for a project involving “the retrofitting of SOx exhaust gas cleaning systems (scrubbers) to 10 ro-pax ferries, 17 conro vessels, 11 ro-ro vessels and 6 vehicle carriers” for a ‘total of 44 vessels’, the Luxembourg-lender reports. The request is ‘under appraisal’.

As for the objectives of Grimaldi’s plan, EIB explains that “the aim is to ensure that the promoter’s vessels comply with IMO, International Labour Organisation (ILO) and EU regulations governing the cleaning of exhaust gas emissions. The vessels concerned by this project will be outfitted with wet exhaust gas cleaning systems designed to remove harmful sulphur and exhaust particulates from the vessels engine emissions. The resulting emissions will meet future, more stringent international regulations and as such the project will contribute to a significant improvement of the environmental performance of the fleet”.

Grimaldi Group controlled Finnlines also received €50m from the EIB for installing 22 scrubbers on its fleet of ferries.

First Annual Report For Attica Group Since Integration Of Hellenic Seaways

By | 2019 newsletter week 17 | No Comments

Attica Group consolidates for the first time Hellenic Seaways in the financial statements for the period 1.6.2018-31.12.2018.

Key figures in million €

+34,56% Revenue consolidated 365.4 (271.54)

-4.28% EBITDA 57 (59.55)

++ Income after tax and minority interests 17.11 (1.25)

· The total debt of the Group stood, as at 31st December 2018, at € 346.08mln (€ 238.73mln as at 31st December, 2017) of which long-term borrowings are € 274.50mln (€ 214.43mln) while short-term borrowings stood at € 71.58mln (€ 24.30mln).

· The Group’s total equity as at 31st December, 2018 stood at € 409.18mln, corresponding to € 1.90 per share.

· Completion of refinancing of large part of the group’s debt with significantly lower cost financial results.

· The lower EBITDA margin in 2018 is attributed mainly to the significant increase in fuel price and to the integration cost of Hellenic Seaways Maritime S.A. («HSW»).


By | 2018 Newsletter week 49 | No Comments

Integration Of Hellenic Seaways In Attica Shows In The Results

Attica has published its nine-months results, with positive results.

+35,9% Revenue MEUR 293 (215)

+13,7% EBITDA MEUR 54 (48)

The important increase is generated mainly by the contribution of Hellenic Seaways, acquired earlier this year. The HSW figures are integrated in the Attica results since 1 June.

Attica says the increase in Group’s Revenue was largely offset by the continued fuel oil price increase by 17% compared to the nine-month period in 2017, which comes after a 33% rise in fuel prices exhibited for the nine-month period of 2017 compared to previous year.


By | 2018 Newsletter Week 18 | No Comments

Attica’s Annual Report Follows The Green Light For The HSW Take Over

Shortly after the authorisation to get full control over Hellenic Seaways (see below), Attica published its full year annual report.

In spite of increased traffic volumes the group result was affected by the increased bunker prices.

  • Consolidated revenue of EUR 271.54m (EUR 268.61m)
  • EBITDA EUR 50.36m (EUR 70.03m)
  • Profits after tax EUR 1.25m (EUR 20.25m)
  • Increased traffic volumes in all revenue categories: passengers +2.2%, cars +5.7% and freight units +3.5%
  • Number of sailings +3.3%