Independent journal on economy and transport policy
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Minoan Lines reduces the semiannual liabilities
Revenues down of 14.9% in the first six months of 2012
August 31, 2012
The Greek company Minoan Lines, that it takes part of the Neapolitan shipowning group Grimaldi, has concluded the first semester of 2012 with light inferior a net loss regarding the first half of 2011 having had recorded liabilities of 21,0 million euros respect to liabilities of 24,8 million euros in the period January-june last year. The revenues considerably are diminished (- 14.9%) attesting itself to 67,5 million euros regarding 79,3 million euros in the first semester of 2011 and the operating result has been negative for 8,4 million euros respect to a result negative for 11,9 million euros in the first six months of 2011.
Minoan Lines has explained that the financial results of the first half of the 2012 suffer wide of the impact are of the measures of severe austerity that has determined the fifth consecutive year of negative increase of the Greek economy is of the deficiency of liquidity that makes useless every possible investment in the nation. To this record reached from the cost of the fuel and the elevated rate competition in the market joins to the level.
In the first six months of this year Minoan Lines it has recorded a remarkable decrement of the number of passengers and vehicles transported from the ships of own fleet: in the connections between Greece and Italy (broken Patrasso - Igoumenitsa - Ancona) is transported 119,690 passengers (- 43,8 on first semester 2011) 28,661 automobiles (- 42.7%) and 34,079 cargo units (- 25.9%), while in the Greek national connections (broken Iraklion - Pireo) the traffic has been of 333.790 passengers (- 11.5%), 31,827 cars (- 27.7%) and 26,830 cargo units (+3.2%).
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The Greek company Minoan Lines, that it takes part of the Neapolitan shipowning group Grimaldi, has concluded the first semester of 2012 with light inferior a net loss regarding the first half of 2011 having had recorded liabilities of 21,0 million euros respect to liabilities of 24,8 million euros in the period January-june last year. The revenues considerably are diminished (- 14.9%) attesting itself to 67,5 million euros regarding 79,3 million euros in the first semester of 2011 and the operating result has been negative for 8,4 million euros respect to a result negative for 11,9 million euros in the first six months of 2011.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
