Jump to content

Minoan Lines

From Wikipedia, the free encyclopedia
Minoan Lines
(Athex:MINOA)
IndustryShipping
Transport
FoundedMay 25, 1972;52 years ago(1972-05-25)[1]
Headquarters
Heraklion
,
Greece[1]
Area served
Aegean Sea
Key people
Emanuele Grimaldi (Chairman)
Loukas Sigalas (CEO)
ServicesPassenger transportation
Freight transportation
Revenue€57.45 million (2020)[2]
€(14.60) million (2020)[2]
€(15.39) million (2020)[2]
Total assets€280.62 million (2020)[2]
Total equity€255.17 million (2020)[2]
OwnerGrimaldi Group(100%)[3][failed verification][citation needed]
Number of employees
415 (2020)[2]
Websitewww.minoan.gr

Minoan Linesis one of the largest passenger ferry companies in Europe, and one of the dominant passengerferrycompanies in Greece, sailing between Piraeus and Crete and, in the Adriatic Sea, between Patras and various Italian ports. The company was founded in May 1972.[1]Since 2008 Grimaldi's Compagnia di Navigazione SpA owns and controls 95.9 of the stock of Minoan Lines.[citation needed]

The company'slogois derived fromThe Lily PrincefrescoatKnossos.

History[edit]

2003

  • The cooperation between Minoan and Grimaldi ended, with only the MSOceanusdeployed on the Italy-Tunisia route.
  • The MSOceanuswas renamedAriadne Palace Iand sold to Corsica Ferries.
  • MSPrometheuswas sold toCaronte shipping,an Italian shipping company.

2004

  • Minoan decided to focus solely on the shipping sector and sold its stake inAegean Airlines.

2005

  • Attica Groupacquired 10.23% of the share capital of Minoan, reaching an 11.61% stake in the company.
  • Minoan sold its 18% stake inForthnettoIntracom.

2006

2007

  • In February,Attica Groupincreased its stake in Minoan Lines.
  • In June, Attica Group sold its entire stake in Minoan (22.2%) to Access Maritime SA, which is controlled byMr. Laskarides.
  • In December, Sea Star Capital, owner ofANEK Lines,acquired a 26.05% stake in Minoan Lines fromAccess Maritimein a privately negotiated transaction.

2008

  • In January,Sea Star Capitalsigned an agreement with Grimaldi's Compagnia di Navigazione SpA to sell its 26.7 percent stake in Minoan.
  • In October, Compagnia di Navigazione SpA, parent company of theGrimaldi Group,raised its stake above the limit of one third of shared capital and voting rights, which triggered a mandatory bid for the rest of the shares. The offer was launched at the end of October and lasted until the end of November. During this period, Grimaldi acquired an additional 47.9% stake in Minoan Lines, raising its total stake to about 85%.[citation needed]

2009-10

2011

  • In January 2011 Minoan Lines cancelled the sale of its 33.35% stake in Hellenic Seaways toANEKand tried to find a new buyer for it.[5]

2012

  • The year began with a significant loss for the company - the closure of the Venice route. The fate of the ships that operated on this line remained uncertain until the end of July 2012, whenEuropa PalacejoinedCruise EuropaandCruise Olympiaon the Ancona route. Meanwhile,Olympia Palacewas laid up in Perama. Despite the rumored reopening of the Piraeus - Chania route, both ships were then chartered to CIN, owner of the recently privatized Tirrenia di Navigazione, and used on the Cagliari - Arbatax - Civitavecchia route.Europe Palacewas renamedAmsicora,and "Olympia Palace" becameBonaria.Both ships underwent a partial refit at Messina, and changed their ports of registry from Heraklion to Cagliari, and their flags from Greek to Italian.
  • At the end of 2012 the daily Ancona - Igoumenitsa - Patras route was extended to call at Trieste thrice weekly. The route was operated byCruise EuropaandCruise Olympia.A third ship,Europalink,was also added to the route in order to increase load capacity. The ship was previously operated by another Grimaldi Group company,Finnlines,but was changed flags from Swedish to Italian and operated in cooperation with Grimaldi.

2013

  • On January 5,Europalinkexperience a failure and was forced to make an emergency stop in theport of Brindisi.[6]Passengers and vehicles were disembarked safely and continued the journey with Grimaldi Group'sFlorencia.The ship was then brought from Brindisi to Messina yards for repair.

2014

  • On September 21,Europalinkstruck rocks offPeristeres island,north east ofCorfu,Greece. All 70 crew and 692 passengers were evacuated. It was later refloated and taken in toKerkyra,Greece for repairs.Europalinkwas on a voyage fromPatras,Greece toAncona.[7][8]

2017

  • Starting with January the Adriatic line again called at the ferry port ofVenicetwice weekly, arriving and departing during the night hours.

2018

  • Europa Palace,which was chartered to Tirrenia di Navigazione asAmsicora,returns to Minoan Lines asMykonos Palaceon the Piraeus-Chania line.
  • Minoan Lines also acquiresSantorini Palace,previously operated asHighspeed 7byHellenic Seaways,and starts serving the Heraklion-Santorini-Ios-Paros-Mykonos route.

2020

  • Minoan Lines puts to her ships scrubbersKnossos Palace,Festos Palace,Mykonos Palace,Cruise Olympia,Cruise Europaand with that Minoan lines became the first company in Greece with scrubbers
  • Mykonos Palacereplace the shipsCruise Olympia,Cruise Europain Patras-Igoymenitsa-Ancona route because the two Cruises put scrubbers in Malta [Piombino Shipyards]
  • Festos Palaceon February renamedKydon Palaceand sails Piraeus-Chania route
  • Kydon Palaceon 13th of February replacedMykonos Palace
  • Mykonos Palaceon the 15th of February was renamedFestos Palace

2021

  • Cruise Europa&Cruise Olympiawere returned to Grimaldi Group.
  • Cruise Bonariareplaced temporarily Cruise Olympia in the Line Patra-Ancona after the former's departure from the fleet.
  • Cruise Olbiawas transferred in late February from Grimaldi Group to Grimaldi Minoan Lines and renamedEuropa Palace,replacingCruise Europain the line Patra-Ancona.
  • Zeus Palacewas transferred in April from Grimaldi Group to Grimaldi Minoan Lines and replacedCruise Bonariain the line Patra-Ancona.

Ships[edit]

Current Fleet[edit]

As at 19 January 2024[9]

Ship name Flag Built IMO Callsign Tonnage Length Width Passengers Cars Knots Photo
Kydon Palace Greece 2001 9204568 SYNR 37,550 214 m 26.4 m 1,718 665 31.5
Knossos Palace Greece 2001 9220330 SVDJ4 36,900 214 m 26.4 m 2,184 735 31.5
Festos Palace Greece 2002 9220342 SVDA8 36,900 214 m 26.4 m 2,184 735 31.5

Former fleet[edit]

Ariadne
Fedra
Santorini Palace

Routes[edit]

Affiliates[edit]

Companies that are affiliates of Minoan Lines (larger than 10%) are outlined below.

Former affiliates[edit]

References[edit]

  1. ^abc"MINOIKES GRAMMES Anonymi Naftiliaki Etaireia".Retrieved3 December2023.
  2. ^abcdefΜΙΝΩΙΚΕΣ ΓΡΑΜΜΕΣ Α.Ν.Ε. Ετήσια Χρηματοοικονομική Έκθεση για την οικονομική χρήση 2020 (1/1 – 31/12/2020)[MINOAN LINES N.E. Annual Financial Report for the financial year 2020 (1/1 – 31/12/2020)](PDF)(Report) (in Greek). 30 March 2021.
  3. ^http://www.4-traders.com/MINOAN-LINES-S-A-1408780/company/
  4. ^"Lloyd's List Home Page".Lloyd's List.Retrieved22 August2017.
  5. ^"Minoan Lines (Economy Column)".ekathimerininewspaper.4 January 2011.
  6. ^"Falla sul traghetto. Europa Link Grimaldi sbarca 280 passeggeri a Brindisi - Blitz quotidiano".www.blitzquotidiano.it.5 January 2013.Retrieved22 August2017.
  7. ^"Captain and Chief Officer of Grounded Ferry Arrested".World Maritime News. 23 September 2014.Retrieved23 September2014.
  8. ^"Our fleet".Heraklion: Minoan Lines. Archived fromthe originalon 19 January 2024.Retrieved19 January2024.
  9. ^"Seajets charter Minoan Lines' HSC Santorini Palace".Ferry Shipping News.IJmuiden: Ferry Shipping Summit BV. 19 January 2024.Retrieved20 January2024.

External links[edit]

Wikimedia Commons has media related toMinoan Lines.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Minoan_Lines&oldid=1232844403"