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CURRENT ISSUE

ARM MERCHANT SHIPS?
Should merchant ships transiting high risk areas carry small arms for defense against pirates?

Selected crew should be trained and have guns available
Professional armed security teams should be hired
No guns on merchant ships, ever

June 26, 2009

DSME wins $200 million Greek ferry order

Attica Group S.A. of Greece has signed shipbuilding contracts with Korea's Daewoo Shipbuilding and Marine Engineering Co. (DSME), for two monohull-type, fast car-passenger ferries at a price of €68.50 million each [about $200 million for the pair]. The delivery of the first vessel will take place in spring 2011 and of the second vessel in the first quarter of 2012. Both ships are designed to operate in Greek domestic waters. The ships will have overall length 145.5 meters and speed of 25.5 knots and the capacity to carry 2,400 passengers and 450 private vehicles or 50 freight units and 150 private vehicles.

Attica CEO Petros Vettas said: "We are pleased to sign the shipbuilding contracts for the construction of two new vessels for our group with the world-class shipyard DSME. The same shipyard has built our most successful vessels, Blue Star Paros, Blue Star Naxos and Blue Star Ithaki a few years ago. Our group's scope to provide first class sea transportation services in domestic and international waters with modern, new and fast ships will be further enhanced with the addition of these two units."

Attica Group, a subsidiary of Marfin Investment Group, is the parent company of Greece's Superfast and Blue Star ferry oprations. Its fleet of 13 ferries operates on the Greece- Italy sea routes, in the Cycladic and the Dodekanese islands and, since March 2009, on the Piraeus--Herakleion, Crete route.


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