MINOAN LINES SHIPPING S.A.
image by Jarig Bakker, 31 October 2005
The Brown 1995 flag was illustrated for FOTW by Jarig Bakker. On Pasiphae Palace the funnel circle sits aft of centre to avoid the air vents. Olympia Palace appears to have surrounding exhaust pipes rather than a green funnel top; Ikarus Palace has no top. A portside photograph of Festos Palace dated 9 August 2013 shows a more ornate circle, silver or light grey like the exhausts.
This appears to be an advertising banner. Josef Nüsse’s table-flag photographs show the field more clearly on the later version of his website.