Ferry News Archive
Attica sells Superfast X 'Rosyth - Zeebrugge ferry' to Veolia
Date: 07 Aug 2006 00:00 Source: Lloyds ListGreece's Attica Group has pledged to continue operating its service between Scotland and Belgium in spite of the sale of the 2002-built Superfast X , the ship currently providing the link.
The ice-class ro-pax vessel has been sold to French-based transport group Veolia Transport for € 112m ($144m).
Attica announced at the same time that it intends replacing the vessel on the Rosyth-Zeebrugge Service.
Delivery and final payment on the deal are scheduled for the start of 2007 and a decision on the vessel or vessels to be brought in is likely before that, said company spokesman and director Yannis Criticos.
He added that the intention was to continue the service “uninterrupted”.
According to the stocklisted company the transaction will yield capital gains of about €14m and boost its cash position by about €45m after debt repayment of €65m and various expenses.
It “plans to use its cash balances mainly for the purpose of acquiring suitable tonnage to cover current and future requirements of cargo and passenger traffic,” said Attica.
Superfast X is an exact sister of Superfast VII, VIII and IX , the HDW-built trio that in March were sold to Estonia’s Tallink Group for €310m.
The latest sale appears even more profitable compared with the capital gain of €11m Attica booked on its three-ship deal with Tallink. Repayment of long-term debt after the deal earlier this year brought Attica’s gearing to historical low levels and enabled it to pay out €62.5m to shareholders this year.
The departure of the Superfast X will reduce the prestigious Superfast ro-pax fleet to just four remaining vessels out of 12 four years ago.
Attica also controls the Blue Star Ferries fleet, which is active in Greece and the Adriatic, and two freight ro-ros operated in the Baltic.
Contacts at Veolia Transport yesterday were unable to immediately give details of their company’s plans for the ship.
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