Finnlines Deutschland Sells MS Transrussia

Finnlines Plc’s German subsidiary, Finnlines Deutschland GmbH, has sold MS Transrussia to Finnlines Plc at the market price of EUR 30.6 million which corresponds to the book value of the vessel.

The sale will have no effect on the Finnlines Group’s result. Through the sale of the last vessel Finnlines Deutschland GmbH will close its shipowning activities and concentrate on the provision of the agency services to the Finnlines Group companies and Russia liner services with the chartered tonnage.

Finnlines Plc will recognise in its financial statements for the year 2013 a write-off of EUR 16 million on the book value of the shares of its German subsidiary, Finnlines Deutschland GmbH.

The write-off have no effect on Finnlines Group’s result for the year 2013, but it has a negative effect of EUR 16 million on Finnlines Plc’s result for the period. The write-off is treated as a non-recurring expense and it does not have a cash flow effect.

Finnlines, January 31, 2014

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >