Greek Ferries Chartered Out to Ease Cash Flow

October 16, 2012

A HSW Ferry: Photo credit CCL 2 Georgios Pazios
A HSW Ferry: Photo credit CCL 2 Georgios Pazios

Several Greek coastal shipping firms have resorted to chartering their ferries on foreign routes in order to secure some liquidity and continue operating.

Companies believe that their smooth operation is being threatened by the negative course of the domestic maritime transport market as losses over the last three years have reached up to 1 billion euros, reports Greece insiders 'Kathimerini'.

Sources say that at least three ferry companies have chartered their vessels on routes outside Greece in the last few years. They are ANEK, Hellenic Seaways (HSW) and Maritime Company of Lesvos (NEL).

Source: Kathimerini

Logistics News

Glenfarne signs 20-year LNG contract with POSCO in South Korea

Glenfarne signs 20-year LNG contract with POSCO in South Korea

Great Lakes Iron Ore Trade Down in November

Great Lakes Iron Ore Trade Down in November

Indiana Expands Barge Shipment Handling Capacity

Indiana Expands Barge Shipment Handling Capacity

Liebherr to Supply STS Cranes to Port Tampa Bay

Liebherr to Supply STS Cranes to Port Tampa Bay

Subscribe for Maritime Logistics Professional E‑News

Washington Post reports that Amazon is exploring cutting ties with USPS
Horizon Aircraft selects Motion Applied as F1 supplier for flying taxi motor systems
Spanish police arrest a group accused of forcing migrants to slave-like labor