30/05/2000 - 7.4% increase in turnover in 1st quarter 2000

The Board of Directors of Strintzis Lines Shipping S.A. announces that total turnover of 1st quarter 2000 increased by 7,4% compared to the same period of 1999. Turnover reached GRD 4,4 billions compared to GRD 4,1 billions of 1st quarter 1999.

The net results of the company were losses of GRD 481 millions compared to profits of 9 millions at the same period last year. The deterioration of the net results of the company is mainly attributed to the increase in the fuel prices that increased the running expenses by approx. GRD 1 billion.

At the same time it must be noted that last year’s results included extraordinary profits of GRD 436 millions due to the sale of the subsidiary company Swansea-Cork Ferries.

Strintzis Lines has already taken delivery of the newbuilding vessel BLUE STAR ITHAKI from Daewoo Heavy Industries Shipyard. The vessel is arriving at the Port of Piraeus on May 31st, 2000.

BLUE STAR ITHAKI is the first newbuilding, high-speed conventional ferry which will serve the Greek islands of the Aegean Sea. It will serve the line of Rafina-Syros-Paros-Naxos-Santorini starting its itineraries from the beginning of June.