Attica Group

Despite the recovery of tourism, which in 2022 helped companies such as Aegean, Autohellas and Attica Group to break historic records in their results, ferry company ANEK has recorded a further deterioration in its financial position.

Dr Emanuele Grimaldi on Friday revealed his coastal shipping group's interest in new acquisitions not only in the Greek ferry market but also in the Greek ports system.

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.

Athens-listed Attica Group is expected to open the book for a new bond issue on July 17 or 22, depending on how fast the Capital Market Commission issues the necessary approvals. This will make Attica the first enterprise to tap the favorable climate in capital markets concerning Greece and the drop of Greek bond yields to historic lows.

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.

Andreas Vgenopoulos, the lawyer turned businessman who founded one of Greece's largest holding groups, died at the age of 63 early on Saturday following a heart attack.

Vgenopoulos was the founder of Marfin Investment Group, which owned a number of businesses in Greece and southeastern Europe.

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.

Blue Star Ferries on Thursday announced the pilot installation and operation of a photovoltaic unit on its ship “Blue Star Delos”.

The installation would be for a trial period in order to test its performance.