Hellenic Seaways

A pioneer of Crete's tourism, Yiannis Sbokos, died in a hospital in Iraklio on Monday night, following a long illness. He was 75.

Sbokos founded the Sbokos Hotel Group in 1976 which was renamed Phāea Resorts in 2019. He built some of the most important hotels in Crete that were considered pioneering for their time, and are still seen as among the most emblematic of the island.

Three newly built catamaran passenger ships will as of next spring replace the old "flying dolphins" that have served destinations in the Saronic Gulf for more than 40 years, as Hellenic Seaways is renewing its fleet.

Large passenger shipping companies no longer dominate the Greek market. According to a study by XRTC Business Consultants, the big players, Attica Group (which operates Blue Star, Super Fast and Hellenic Seaways), ANEK and Minoan Lines, accounted for 38 percent of sea passenger traffic in 2018, down from 57 percent in 2014.

If Greek coastal shipping giant Attica Group, which operates Blue Star, Superfast Ferries and Hellenic Seaways, were to be put up for sale in future, Italy's Grimaldi Group would be interested in buying the Athens-listed group.

Italian group Grimaldi is preparing to send a complaint to the competition department of the European Commission (DG Comp) against what it sees as the threat of concentration conditions in the Greek coastal shipping sector.

After eight years of rough economic seas, Greece's major coastal shipping companies are sailing at half their size and under major financial pressure, but still managing to carve out some profits. Even after their extensive restructuring due to the domestic recession and competition from air transport, however, they are still at risk.

The coastal shipping sector showed a reduction in turnover in 2016 but not operating profits, thanks to the significant decline in fuel prices.

Minoan Lines, part of Italy's Grimaldi Group, on Tuesday announced it is halting its Adriatic routes after 35 years.

The Greek company will instead operate as the general sales agent in Greece for its parent group and seek new domestic routes.

A passenger ferry on Thursday morning crashed into the dock at the port of Chios in the eastern Aegean.

The Nissos Mykonos ferry, operated by Hellenic Seaways, was reportedly struggling against strong winds and choppy seas as it came into port shortly before 10 a.m. on Thursday morning, bumping violently against the concrete dock.

A new round of restructuring is under way in the Greek coastal shipping industry, with its catalyst being the tender by Piraeus Bank for the sale of a 40.44 percent stake in Hellenic Seaways (HSW) that belongs to the lender's portfolio.