Tag: Seajets | Ferry Shipping News

Apr 12

1

Seajets’ ex-“IDO” twins arrived in Greece

By sandra | 2024 Newsletter week 15 | No Comments

On April 7 and 8, 2024, the latest acquisitions of Seajets, HSC Orchan Gazi 1 and Osman Gazi 1, arrived in Greece under tow. Both sisterships were purchased last February from the Turkish company Istanbul Deniz (IDO). They operated daily from Istanbul to Moudania and are among the 8 ships that Seajets acquired in the last 8 months following a tremendous expansion plan.”

These vessels are:

Champion Jet 3 (ex-Incat 045)
Eurochampion Jet (ex- Natchan Rera)
Superruner Jet II (ex-Gotlandia)
Super Star II (ex-Color Viking)
Express Skiathos
Santorini Palace
HSC Orchan Gazi 1
HSC Osman Gazi 1

Photo: Kostas Papadopoulos

Mar 22

2

Minoan Lines’ HSC Santorini Palace was renamed Santorini Jet

By sandra | 2024 newsletter week 12 | No Comments

HSC Santorini Jet is the new name of HSC Santorini Palace following her bare boat chartering by Seajets. The ship is currently at the Spanopoulos Group facilities changing her livery and undergoing a refit.

Seajets has already announced its intention to introduce her on the Piraeus-Syros-Mykonos-Evdilos (Ikaria) – Karlovasi (Samos) run from June 1st until September 30, 2024.

Photo: Kostas Papadopoulos

Feb 16

1

Seajets is interested in introducing HSC SANTORINI PALACE on the Samos-Ikaria run

By sandra | 2024 Newsletter week 07 | No Comments

Seajets has announced its intention to introduce the HSC SANTORINI PALACE on the Piraeus-Syros-Mykonos-Evdilos (Ikaria)-Karlovasi (Samos) route from June 1st until September 30th.

SeaJet’s interest in the Ikaria and Samos route has been evident since the previous period, with the approval of their HSC MEGAJET in October 2023 on the same route by the Coastal Transport Council.

The route will be daily, with the ship departing from Piraeus 9 AM and arriving in Evdilos 1 PM. On its return voyage, it will depart Evdilos for Piraeus at 6 PM.

Minoan Lines has recently chartered the HSC SANTORINI PALACE to Seajets.

Photo: Minoan Lines

Feb 02

1

Seajets purchased two more high-speed crafts from the Turkish IDO

By sandra | 2024 Newsletter week 05 | No Comments

Greek sources are reporting that Seajets has added two more high-speed craft to their impressive fleet. This time they purchased the sister-ships OSMAN GAZI 1 and ORHAN GAZI 1 from Turkey’s Istanbul Deniz (IDO).

Both vessels were built in Australia (Austal, Henderson) in 2007 and belong to the Auto Express 88 series. Their carrying capacity is for 1,200 passengers and 225 cars, while they have a top speed of 37.5 knots. With these impressive 6,133 tonners in its fleet, the seemingly unstoppable Seajets will operate within the Aegean Sea with the significant number of 22 high-speed craft.

Photo: Austal

Jan 26

1

Seajets purchases NATCHAN RERA

By sandra | 2024 Newsletter week 04 | No Comments

On 18 January, it was revealed in the Greek press that Seajets has purchased the large Incat HSC NATCHAN RERA. The impressive vessel is expected to leave the port of Anping for Greece at the end of January. At 112-metres, the vessel can operate at higher wave heights than smaller fast craft.

Despite having been built in 2007, the 35-knot vessel has seen long periods of limited or no service giving Seajets a craft with limited running hours. With a capacity for 790 passengers and 355 cars, the acquisition of this vessel means Seajets lives up to its reputation as the world’s largest high-speed vessel operator.

Photo: Incat

Jan 19

1

Seajets charter Minoan Lines’ HSC SANTORINI PALACE

By sandra | 2024 Newsletter week 03 | No Comments

On January 12, 2024, and according to reliable information, Seajets proceeded with the chartering of Minoan Lines’ HSC SANTORINI PALACE. The ship is in service during the summer period on the Heraklion – Santorini – Naxos – Mykonos – Syros – Piraeus route, while the information suggests a bareboat chartering arrangement.

HSC SANTORINI PALACE was built in Australia (Austal) in 2005. In 2015, it underwent extensive upgrades at Trieste (Fincantieri Shipyards) to increase its passenger capacity. It can accommodate up to 1,160 passengers and 117 cars.

Photo: Mike Louagie

Jul 21

0

Seajets’ HSC SUPERRUNNER JET 2 entered service on July 13

By sandra | 2023 Newsletter week 28 | No Comments

On 13 July Seajets latest acquisition HSC SUPERRUNNER JET 2 (ex. GOTLANDIA of Destination Gotland) made her debut on the Piraeus – Paros – Naxos line.

The craft was purchased in February and refitted at Koros Shipyards, Salamis, before entering service.

Her carrying capacity is for 700 passengers and 140 cars.

Photo: Voyagair (Christos Chatzaras)

Jul 07

0

SeaJets submitted an improved proposal for the acquisition of ANEK Lines

By sandra | 2023 Newsletter week 27 | No Comments

On June 30, 2023, SeaJets, Kiara Shipping and Golden Step Shipping Ltd submitted a new improved proposal to the Piraeus Bank for the acquisition of ANEK Lines.

[see last week’s news: Surprise: SeaJets submitted a proposal for the acquisition of ANEK Lines]

According to the new letter, which was also sent to ANEK Lines and its Creditors and Shareholders:

The three companies proposed an increased offer at EUR 83 million, under the same terms of payment.
In terms of transparency, they proposed a loan of EUR 55 million secured by first marine mortgages on ships with a commercial value of EUR 138 million (coverage rate of 250.9% of the loan). The remaining EUR 28 million will be paid from equity, which is immediately available and certainly reduce the Bank’s exposure.

In addition to the increased offer, the letter mentions a few arguments as a response to the Bank’s objections. Among other things it is stated that:

Until approval is given by the Competition Committee, the “implementation” of the Attica transaction, which the bank claim is in progress, is illegal.
It is already known to the public that the proposed Attica “transaction” raises significant competition issues based on the initial views of the Competition Committee.
The formulations adopted in the Bank’s response raise many questions and lead to the conclusion that the Bank is acting and arguing as the buyer of ANEK Lines rather than as a representative of its Creditors.
SeaJets proposal does not contain a due diligence clause, as it is inaccurately stated in the Banks’ answering letter. On the contrary, the Bank acknowledges that due diligence was carried out by Attica Group and information was provided to Attica Group, even though ANEK is a listed company. This constitutes privileged information and leads to an audit of the related stock market transactions to date.
SeaJets proposal ensures not only the competition but also a greater return for the Bank’s own loans.
The view that SeaJets proposal does not “meet the necessary criteria to constitute a viable credit risk” is not substantiated.
The three companies are willing to immediately engage in direct discussions with each one of the informants to avoid misunderstandings and await a prompt action.

Source: ANEK, 3 July 2023 (in Greek)

Jun 30

0

Surprise: Seajets submitted a proposal for the acquisition of ANEK Lines

By sandra | 2023 Newsletter week 26 | No Comments

In the last few days, a series of events have been taking place within the Greek Ferry Scene concerning the unexpected Seajets’ proposal for the acquisition of Anek Lines.

On June 16, 2023, three companies (Seajets, Kiara Shipping and Golden Step Shipping Ltd) submitted a proposal to Anek Lines’ Creditors and Shareholders (that represent 57,70% of the company’s total share capital), regarding the acquisition of ANEK’s shares and loans under specific conditions. That proposal included:

The immediate payment of EUR 82 million for the acquisition of all the Company’s loan obligations with the provision of collateral.
Acquisition of all the shares of the main shareholders for the price of € 0,2220 per share.
Piraeus Bank loan guarantee.

On June 23, 2023, Anek Lines issued a press release (in Greek) to the Athens Stock Market informing officially the Market Capital Committee as well as the investors about that proposal. Also, told that Anek Lines’ Board of Directors addressed the proposal to the Company’s Shareholders and Creditors, to be evaluated by them. The Company pledged to make announcements to inform the investing public if the relevant legal conditions are met.
On June 27, 2023, Anek Lines issued a new press release (in Greek), where Piraeus Bank rejected Seajets’ proposal.
Piraeus Bank, as a representative of Bond Creditors, sent a letter of refusal to the proposing companies on June 26, 2023. That letter was also sent to the Competition Committee as well as to the Board of Directors of ANEK Lines.
In it, the Piraeus Bank explained that:

The proposal comes at the wrong time, as the ongoing merger of ANEK Lines with Attica Group is already known to the public since September 2022.
The Bank’s consultant analysis judged that the submitted proposal is inferior to the current agreement under implementation between Attica Group and ANEK Lines in terms of recoverable value. At the same time, that proposal exhibits a significantly greater risk, so it is not a viable alternative for ANEK Lines.
There is uncertainty in the financing of the proposed price, as well as in the condition of carrying out due diligence, a process which has already been completed for the Attica Group proposal.
The proposal does not consider ANEK Line’s cash flow needs towards third-party creditors, nor does it include planning for the smooth transition and uninterrupted operation of the company due to the potential termination of the ANEK – Superfast joint venture (operational risk).
Therefore, the proposal does not meet the necessary criteria to constitute an acceptable credit and business risk and cannot be accepted.

Also, the VARMIN Shareholder (Vardinoyannis Family) with a letter to the Board of Directors of Anek Lines stated that: “We do not accept the specific proposal due to the price offered and its structure. We consider that the existing agreement with Attica Group for the merger of ANEK Lines, which is already in the approval stage is the only immediate solution, which ensures the company’s rescue”.

Greek sources say that Seajets is preparing a counteroffer.