Kefalonialines boat bought by Levante

Martin Edwards

Staff member
At $10 million. The cost of buying and retrofitting "Kefalonia" by Levante Ferries
Last Updated: Monday, 26 November 2018 12:18
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A purchase contract for the acquisition of a ship from Kefalonian lines signed by Levante Ferries, a subsidiary of Newsphone.

The investment and retrofitting of the ship is estimated at 10m euros. The euro, while its transfer will be completed by the first quarter of 2019.

According to a brokerage announcement "the company «Eidiseofwniki Hellas – Societe Anonyme – Tileichopliroforisis Services – Olokliromenes IT services and communications» announces that the subsidiary company Levante Ferries V MC, signed a pre-contract ship purchase with the naval company KEFALONIAN Lines and the transfer of the ship will take place until the first quarter of 2019.

This ship is on the Ionian Sea lines.

The total investment for the purchase and retrofitting of the ship is estimated to amount to approximately EUR 10 million. The listed company participates in Levante Ferries V with a rate of 99.9%.

The financing will be made with the own funds of Levante Ferries V of 2.5 million euro, with a bank borrowing of 4 million euro and the remaining amount will come from the operating cash flows of the company over 3 years '.

The ship is scheduled to be routed at Easter of 2019, on the routes Kyllini Zakynthos – Kyllini poros Kefalonia.