FINNHANSA

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Finnlines sells MS Finnhansa

Finnlines Plc has sold MS Finnhansa to the Grimaldi Group at a market price of EUR 30 million and Finnlines Plc’s subsidiary has signed the sales agreement of MS Euroferry Brindisi (MS Finnarrow) with an external party at a market price of EUR 32.5 million. These actions, when concluded, will lead in Finnlines Group to a cumulative additional cash-flow of EUR 62.5 million, gains on sales of approximately EUR 3.5 million and an equity ratio improvement to around 40 per cent in the fourth quarter.The reason for the disposal of these two vessels was that the operative use of both MS Finnhansa and MS Finnarrow has been unprofitable due to the existing overcapacity in the market.These sales do not affect the provision of maritime liner services or the service level offered to the customers.

Employer-employee co-operation negotiations started

Finnlines Plc on July 3, 2014, has started employer-employee co-operation negotiations concerning the 36 crew members ofthe "Finnhansa". The operative use of the vessel has been unprofitable for a longer period and the changes in environmental legislation, especially the so-called sulphur directive entering into force 1.1.2015, have brought the company to make initial plans concerning the sale of the vessel. The realisation of these plans may result in lay-offs or in the termination of all employment contracts of the crew. If realised, the plans do not affect the provision of maritime liner services or the service level offered to the customers.

Fuel separator blew up in engine room

On Mar 5, 2013, a fuel separator in the engine room blew up on the "Transrussia" which had come from Luebeck around 4 a.m. and which was docked at the port of St. Petersburg at that time. The vessel was moored at Pier Number 36. A Russian engineer suffered face cuts and was immediately taken to hospital. The ship sustained no further damages, and there was no oil spill either. A p preliminary inquiry into the accident was launched. On Mar 6 at 7.30 p.m. the "Transrussia" left Barochnyy again bound for Ventspils with an ETA of Mar 7, 6.40 p.m.