ΜΙΝΩΙΚΕΣ ΓΡΑΜΜΕΣ Α.Ν.Ε.
Sale of the vessel ARIADNE PALACE I
Minoan Lines announce that the sale of the vessel ARIADNE PALACE I (ex- OCEANUS) to the Italian company S.I.M.E. TRE S.P.A. a subsidiary of Corsica Sardinia Ferries was concluded today, for USD 67 million.
The sale of the abovementioned vessel marks a further step of the company's strategy to reduce debt and strengthen liquidity. The high operating margins of the newly built vessels together with the reduction in financial expenses and depreciation charges resulting from the aforesaid strategy, drive the company onto an advancing and profitable path for 2003.
The sale of the abovementioned vessel marks a further step of the company's strategy to reduce debt and strengthen liquidity. The high operating margins of the newly built vessels together with the reduction in financial expenses and depreciation charges resulting from the aforesaid strategy, drive the company onto an advancing and profitable path for 2003.