Attica Group has entered into an agreement, potentially worth over €800 million, with Stena, one of the biggest shipping companies and ferry line operators, and CMJL Weihai Shipyards, a Chinese shipyard, for the construction of up to four extremely large, environmentally friendly ferries.
The agreement provides for the initial construction of two very large passenger ferries, 240 metres in length, with quad-fuel capability and the latest generation of energy-efficient equipment, to be delivered during 2027. There is an option to build two more such vessels in the future. The tripartite agreement specifically provides for the ships to be ordered at the shipyards by Stena and then chartered (bare boat: bare charter) by Attica Group for a period of 5 + 5 years for each of them, with an option to buy the ships after the first five years.
It is by far the largest shipbuilding project in terms of value that has been carried out in the Greek shipping industry.
The first two new vessels are planned to be deployed on the routes between Greece and Italy on the Adriatic Sea, freeing up other small vessels currently operating there, which will upgrade the Piraeus-Crete routes. The next two vessels, if Attica Group exercises its right, will also be destined for the Crete and/or Adriatic routes. The Superfast I and II purchased in 2008 and 2009 are the first very large new ships to operate in Greek waters, and this shipbuilding project is the largest in terms of value and size of ships in the Greek shipping industry to date (Patmos in 2011 and Delos in 2012 follow).
According to shipping sources, the cost of each of these ships is in excess of 200 million euros, raising the potential value of the deal for all four ships to over $800 million.
With the order of these ships, Attica Group is taking the first decisive step for the next day of Greek shipping by ensuring drastic cuts in carbon dioxide emissions capable of exceeding the targets for reducing CO2 emissions by up to 50% by 2030, according to Greek shipping market circles.
The new 240-meter-long vessels are of the Stena E-Flexer type and will reportedly have a capacity of 1,500 passengers and 3,320 linear meters per vessel to handle cars, trucks, and trailers, significantly increasing Attica Group's overall transport capacity as they increase the capacity of trucks even while reducing the number of routes, according to experts.
They are certified as methanol- and battery-ready, with engines that are designed to run on 4 different types of fuel. At the same time, they are designed and equipped with technology for optimum efficiency and reduced emissions. They feature renewable energy generation units from photovoltaic panels and systems that allow the ship to be powered from shore while in port to avoid running the electric engines and eliminate polluting emissions and noise.
In addition, the E-Flexer design reportedly includes significantly upgraded accommodation, dining, and entertainment areas, allowing for improved services. E-Flexer is a shipyard project of Stena, one of the world's largest shipping companies. So far, 13 E-Flexers have been built, of which 5 have joined the Stena fleet and the remaining 8 have been built for ferry operators such as DFDS, Brittany Ferries, and Corsica Linea under similar charter agreements as the one signed by Attica Group.
ATTICA ANNOUNCEMENT
Consistent with its commitment to the green transition and the upgrading of its fleet, Attica Group has signed an agreement with Stena RoRo for a long-term charter with the option to purchase two E-Flexer vessels. The vessels will be built by Stena RoRo at the CMI Jinling Weihai shipyard in China, and delivery is scheduled for April and August 2027. The two new Attica vessels are the largest Greek shipping company has ever ordered, with lengths of up to 240 meters. The capacity of 1,500 passengers and 3,320 linear metres of garage space (approximately 200 trucks) per vessel to handle cars, trucks, and trailers will significantly enhance the Group's overall transport capacity on the Adriatic routes they will operate on.
The new vessels will be certified methanol- and battery-ready, with engines designed to run on 3 different types of fuel. They are also equipped with cutting-edge technology for optimal environmental performance and reduction of emissions, as well as a number of other technical features that result in a significant reduction of 60% in emissions per transport project compared to existing vessels.
The agreement provides for the construction by Stena RoRo of two vessels on behalf of Attica under a bare charter contract for a period of 10 years, with an option to purchase the vessels at the end of the 5th charter year. The agreement also includes the prospect of an extension for the construction by Stena RoRo, on behalf of Attica, of 2 additional ships.
With the agreed-upon long-term charter of the 2 new vessels, Attica Group plans to reposition the fleet, with the ultimate aim of reducing the environmental footprint through the withdrawal of older units and reducing the average age of the fleet. The innovative ship design is the product of a collaboration between the Stena RoRo team, based on the successful E-Flexer model, and Attica's shipbuilding team, resulting in a modern and environmentally efficient ship. The innovative and modern design of the 2 new E-Flexers will further improve the quality of the transport services provided, contributing to the overall upgrade of the travel experience. Luxurious and comfortable accommodation, dining, and entertainment areas are key features of the E-Flexer series, while state-of-the-art navigation systems guarantee the maintenance of a high level of service based on international standards.
The CEO of Attica Group, Mr. Panos Dikaios, said: "For 3 decades, Attica Group has been innovating through the design and construction of pioneering ships that are landmarks in international passenger shipping, such as the Superfast Ferries that have redefined the quality and speed of interconnection of the Adriatic lines, the Blue Star Delos and Blue Star Patmos that have upgraded the travel experience in the Aegean, and the 3 state-of-the-art Aero Highspeed ships that have significantly boosted traffic on the Argosaronic lines.
With our agreement with Stena RoRo for the charter of 2 new state-of-the-art E-Flexer vessels, we are creating new standards for the entire Greek passenger shipping industry, redefining the travel experience, and responding dynamically to the challenges of tomorrow.
Investing in new technologies and innovation is a one-way street for shipping as a whole, as it contributes decisively to the reduction of the environmental footprint, resulting in a reduction of the related adaptation costs (e.g., the purchase of emission rights (ETS)) and improving the competitiveness of ships. It is in this light that we are evaluating the expansion of our investment programme also within the country's borders, with the aim of strengthening the domestic shipbuilding sector."
"The E-Flexer vessels have been designed jointly and in accordance with Attica's specifications. With flexible design and the corresponding ability to operate the engines with different fuels, hybrid battery use, and other technical features that enable fuel savings, the new vessels will make a significant contribution to the Attica Group's green transition on the Adriatic route," said Per Westling, Managing Director, Stena RoRo.
