Greek coastal shipping company Minoan Lines posted robust net after-tax profit for the first half of 2018 at 1.9 million euros, with turnover at 35.9 million euros.
The focus of Minoan Lines is now on Greece, its managing director Antonis Maniadakis said following the announcement that the company had exited the Adriatic service.
Grimaldi Group company Minoan Lines announced that it will stop serving the Patra-Ancona route after 35 years, limiting its operations exclusively to the Greek domestic market.
A 40.4 percent stake in ferry services provider Hellenic Seaways (HSW) is up for sale after Piraeus Bank launched an open international tender for the company this week.
Greek ferry operator Minoan Lines recorded improved net profits to the tune of 12.2 million euros in the first half of 2016 up by 6.4 million euros compared to the same period last year.
Greek ferry operator Minoan Lines recorded a 4 percent increase in net profit in the first quarter of 2016, a 68.3 percent rise compared to the same period in 2015.
Naples-based Grimaldi Group will boost its Italy-Greece service by resuming the connection between Ravenna, Igoumenitsa and Patras, with extension to Trieste.
The connections offered by the Egnatia Highway in northern Greece are considered a strong incentive for activity at the port of Igoumenitsa, according to Italy's Grimaldi Group. Igoumenitsa is a coastal city in northwestern Greece.
The maritime services of the Grimaldi Group between Italy and Greece will be enhanced next summer with the launch of a new line, according to a recent announcement.
Greek company Minoan Lines will undertake the official port and commercial agency of cargo vessels (Ro-Ro & Pure Car and Truck Carriers) owned or chartered by the Grimaldi Group and calling at the port of Piraeus as of 1 February 2014.
A new maritime service will be launched between the ports of Trieste – Ancona – Igoumenitsa and Patras as of December 2012, according to an announcement made by Minoan Lines, member of the Grimaldi Group.
