Grimaldi 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.

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.

Minoan Lines require all passengers on domestic routes to show a photo ID before boarding. Passengers are also required to board an hour in advance before sailing on domestic voyages and two hours prior to international journeys. The Minoan statement stressed that there will be no exceptions to these new procedures.