Fincantieri Signs High Speed Ferry Contract

Fincantieri has singed contracts with Minoan Lines for two new high-speed ferries to be delivered in fall 2001 and spring 2002 for a price of about $105 million each. With a gross tonnage of approximately 36,000 tons and overall length of 702 ft. (214 m), the vessels will travel in fully loaded conditions at a speed of 29.5 knots. Passenger capacity is 2,000 with garage space for 110 cars and 120 trailers. These are the third and fourth vessels that Minoan will have on order at Fincantieri. The first two vessels, which will be named Knossos Palace and Festos Palace, will be sent off in 2000 and 2001.