Attica Group’s big ferry splash

Attica Group’s big ferry splash

Attica Group announced on Friday its agreement with the Stena shipping company and China Merchants Jinling Shipyard (Weihai) for the construction of up to four very large environmentally friendly passenger ships, the value of which may exceed 800 million euros.

The agreement provides for the construction initially of two very large passenger ferries, 240 meters in length, with the possibility of using quadruple fuel and energy-efficient state-of-the-art equipment, to be delivered during 2027. There is, moreover, the option for the construction of two more such ships in the future.

The three-way agreement specifically provides for the order of the ships from the shipyards by Stena and then their charter (bareboat) by Attica Group for a period of 5+5 years for each and the option to purchase the ships after the expiry of the first five years.

The first two new ships are planned to be launched on the lines between Greece and Italy in the Adriatic, freeing up other new ships currently operating there, which will upgrade the Piraeus-Crete service. The next two ships, if Attica Group exercises that right, are also intended for the lines of Crete or the Adriatic.

This is the largest shipbuilding program of the Greek coastal shipping industry to date in terms of value and size of ships and the first very large new ships after the Superfast I and II purchased in 2008 and 2009 that will operate in Greek waters.

According to shipping sources, the cost of each of these ships exceeds €200 million, raising the potential value of the deal for all four ships to over €800 million.

By ordering these vessels, Attica Group takes the first decisive step for the future of Greek coastal shipping, ensuring a drastic reduction in carbon dioxide emissions and capable of exceeding the targets for a reduction of CO2 emissions by up to 50% by 2030.

The new ships, 240 meters long, are of the E-Flexer type, a model developed by Stena, and will reportedly have a capacity of 1,500 passengers and 3,320 linear meters per ship to service cars, trucks and trailers.

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