Industry News

Polferries Sale is Relaunched

Oct 29, 2014

Lloyd’s List

The Polish Treasury is seeking to raise more than $14m from selling a 91% interest in state-owned Polferries (Polish Baltic Shipping Co) which runs three vessels to ports in Sweden and Denmark. The company reported net losses in 2010 and 2011, then a net gain of Zloty6.4m ($1.9m) in 2012. However, the results for 2013 have not been made public.

The Polish government is offering 9.5m shares representing more than 91% of the company, with a minimum share price of Zloty4.90. This values the company shares being sold at Zloty46.6m and the company at about $15.4m.

Interested parties have until November 26 to submit by hand a sealed offer, along with a Zloty4m security deposit. The ministry said the sole substantive criterion will be the price offered for the shares in Polferries.

Danish operator DFDS previously eyed the company as it sought consolidation. Grimaldi-controlled Finnlines has said it is looking to join the bidding.

Attica Sells Blue Star Ithaki to Canada

Oct 27, 2014

Attica Group

Attica announced the sale of RoPax vessel Blue Star Ithaki to the Government of Canada, for a total cash consideration of Euro 31.2 million. Delivery of the vessel to her new owners is scheduled for the first half of November, 2014 at the port of Piraeus.

[Blue Star Ithaki was built in 2000 in South Korea. With a length of 124m and a speed of 24 knots, it has capacity for 1,317 passengers and 245 cars. It will replace the Princess of Acadia and will be operated by Bay Ferries between Saint John, New Brunswick and Digby, Nova Scotia across the Bay of Fundy. The Princess of Acadia was built in 1971 in Canada. It has a length of 150m with capacity of 650 passengers and 180 cars.]