By Nikos Bardounias

Several Greek coastal shipping firms have resorted to chartering their ferries on foreign routes in order to secure some liquidity and continue operating. Companies believe that their smooth operation is being threatened by the negative course of the domestic maritime transport market as losses over the last three years have reached up to 1 billion euros.

Sources say that at least three ferry companies have chartered their vessels on routes outside Greece in the last few years. They are ANEK, Hellenic Seaways (HSW) and Maritime Company of Lesvos (NEL).

“Chartering lasts between a few months and one year and is implemented in order for ferry companies to secure some cash, as besides their social contribution, they also constitute a business activity that needs to turn a profit to survive,” a source from the Association of Greek Coastal Shipping Companies (SEEN) told Kathimerini.

Based on the available information, NEL has chartered its Panagia Parou and Panagia Thalassini ferries on the route linking Morocco with Spain. The two vessels were built at the Leroux & Lotz shipyards in France and came into NEL’s possession when the Lesvos company acquired Apostolos Ventouris’s C-Link Ferries. Before being chartered abroad, they served the Agios Constantinos-Skiathos-Skopelos-Alonnissos route in the central Aegean.

ANEK reportedly charters the Lefka Ori and Sofoklis Venizelos vessels abroad. Both were constructed in Japan’s Mitsubishi shipyards and since last June they have been chartered for six months in South Korea to serve domestic routes. The chartering agreement provides for a sale option for both vessels. Before heading to Korea, the two ferries served the Patras-Venice line, where they have since been substituted by the Kriti I and Kriti II.

ANEK’s subsidiary, HSW, has long had two ferries chartered in Portuguese waters. They are the Hellenic Wind, built in 1997 in Italy, and Express Santorini, constructed in 1974 in France. Recently, the company has also chartered the Nissos Rodos ferry for the route linking the Turkish port of Iskenderun with Egypt. The ship was built in 1987 in Japan. The Ariadni, a passenger ship, was also chartered abroad, but after serving routes in Algeria it has returned home and is preparing to head abroad again soon to serve another route.

Consequently, the economic crisis has introduced the practice of ship management -- which is common in merchant shipping -- to the coastal shipping sector, i.e. ferries managed by those who do not own them.

“We are the first to do it in coastal shipping. Chartering is much better than investing. This is a crash and we have to survive it,” NEL Chief Executive Yiannis Avrantinis said recently. “Public transport is not at risk, but the companies are. Entrepreneurs will doubtlessly emerge to charter ferries and serve the domestic routes,” he added.