NO MARITIME NAVIGATION FOR HUNGARY AGAIN

The State Privatization Company (ÁPV Rt) started preparations for selling MAHART Company’s two new liners which the Hungarian company had been given lately at the cost of the Russian state debt, Magyar Nemzet has been informed. According to ÁPV Rt MAHART itself is preparing the transaction but the essential fact remains: the liners Pannon Start and Pannon Sun are for sale though the liners with Hungarian crew and under Hungarian flag made a serious profit for MAHART.

At present two Hungarian vessels sail on the high seas under Hungarian flag and with Hungarian crew, Pannon Star and Pannon Sun, each with a carrying capacity of 4600 tons. The temporarily functioning Hungarian maritime navigation may cease again as preparations have been started to sell the vessels in the value of HUF 2,5 billion altogether. As we have reported earlier, the state (with the efficient help of MAHART leaders ) had sold the maritime fleet well beyond the market price after the change of regime. ÁPV Rt told Magyar Nemzet that in the present case there was a government decision about the sale at the moment of receiving the two vessels.

When the national flag was hauled down on the last Hungarian liner, Vörösmarty, a government edict on October 16, 2000 stated that maritime navigation was ended. This step was explained mainly by the fact that Hungary was a landlocked country and no fleet can be effectively directed from Budapest. In the meantime, however, the new and very modern liners had been manufactured in a Russian shipyard and another government edict ordered MAHART to sell the five vessels immediately after receipt. This happened in the case of three vessels but Pannon Star and Pannon Sun were manufactured after more than two years’ delay and potential buyers disappeared, while the Russian shipyard went bankrupt. That was how MAHART got the two liners to reduce costs of maintenance. Experts say the vessels produce profits equal to their own price within eight years. The liners work profitably and their type is widely sought as they are able to transport bulk and piece goods and containers alike. The two liners will be sold either before the privatization of MAHART scheduled for this year or with it will be a tender written out for the last two Hungarian ocean-going liners.