Sea Tourism

The Board of Directors of Blue Star Maritime S.A. announced last month that it had successfully refinanced its group’s debt load with a new bond issue.

Greece’s tourism industry received another welcome boost last month when the Hellenic Society for the Protection of Nature announced that 383 of the country’s beaches – five more than last year – received the coveted European Union’s “Blue Flag” for clean, well-organized beaches. To receive this ecological seal of approval, each beach had to fulfill tough 27 criteria, including those for water quality, environmental management and safety.

If Greece wants to see further investment within its coastal shipping sector, it must stop this continual postponement of liberalizing coastal shipping, says Pericles Panagopoulos, chairman of the Attica Group (Superfast Ferries and Blue Star Ferries).

For the fourth year in a row, the island of Poros hosted its international Yachting Symposium. The annual event has been held on the island every May to promote Greek marine tourism. Parallel with the symposium was a presentation of the deluxe Greek yachts available for charter.

With numerous successes under its belt in organizing a various boat races, the island of Corfu on July 2 takes on the task of organizing and presenting the Panhellenic Inflatable Boat Races.

At least three Louis group cruise ships will raise the Greek flag, CEO Costakis Loizou said aboard Thomson Destiny, the group’s flagship, during a reception held while the vessel was docked in Piraeus last month.

Minoan Lines announced recently that it managed to more than double its net profit for last year despite a drop in traffic on Adriatic routes and less-than-expected passenger loads on the domestic routes, especially in the summer months during the Athens Olympics period.

A key element of Greece’s tourist allure, the traditional wooden fishing boats that brighten many an island harbor, is facing a major threat of extinction due to EU policies and government indifference, activists warned last month.

Last month, Louis Hellenic Cruises held an inauguration reception in Piraeus aboard its cruise ship The Emerald. The new cruise company announced the beginning of its cruise program for this year. Company executives say bookings have topped every expectation and that if the trend continues the cruise line will have to place even more new ships on the routes.

Attica Holdings (Superfast and Blue Star Ferries) announced late last month that it had reached an agreement with an Italian company, represented by Romano Artioili, for the acquisition of more than 6.7 million shares of Minoan Lines. The purchase represents 9.51% of the share capital of Minoan at a price of 3.30 euros per share. Attica says the finalization of the transaction is subject to regulatory approval by the Athens Stock Exchange with reference to block of trading transactions.