Finnlines targeting Polferries

Finnish ferry operator Finnlines Plc intends to participate in the negotiation procedure when re-opened by the Ministry of Treasury of Poland on the sale of the shares of Polferries. The principal
scope of Polferries’ business is the provision of international ferry transport services, as well as organizing group and individual cruises under the brand “Polferries”. Polferries provides maritime liner services in the southern Baltic Sea between Poland and Sweden / Denmark with 3 ropax / passenger – vessels. In an unrelated disclosure, Finnlines has reported the sale of MS Finnhansa to the Grimaldi Group at a market price of EUR 30 million (USD 38.2m), as well as the sale of MS Euroferry Brindisi (MS Finnarrow) with an external party at a market price of EUR 32.5 million (USD 41.4m).

Finnlines says that the reason for the disposal of these two vessels was that the operative use of both MS Finnhansa and MS Finnarrow had been unprofitable due to the existing overcapacity in the market, saying that these sales do not affect the provision of maritime liner services or the service level offered to the customers.