FERRY SHIPPING

By | 2019 Newsletter week 28 | No Comments

Italian Company Caronte & Tourist To Debut In Croatia With A New Regular Link

The Messina-based company Caronte & Tourist is expected to open a new maritime link in Croatia from mid-July with the ferry GIUSEPPE FRANZA which is now moored in Rijeka after a first refusal from the authorities to enter the port.

Local media report that Caronte & Tourist Isole Minori has filed a request with Croatia’s Agency for Coastal Passenger Traffic to establish a ferry line between Rijeka and Porozina, on the Cres island.

The new service should be operated from 15 July to 15 September.

The Italian company, however, has still not collected most of the required permits and documents, said Paola Vidovic, director of Croatia’s Agency for Coastal Passenger Traffic, as quoted by business news portal SeeBiz.eu.
Before and in order to sign the contract, Caronte & Tourist will have to collect all the required documents requested before starting the new maritime link.

The first stage of ferry market liberalization in Croatia started in 2018 and is taking this summer with some services’ concession to be granted to foreign companies.

Basalt Infrastructure Acquires 30% Of Caronte & Tourist

By | 2019 Newsletter week 2 | No Comments

The UK-based investment fund Basalt Infrastructure Partners II LP announced it has closed the acquisition of a 30% interest in the Italian ferry company Caronte & Tourist.

The terms of the transaction were not disclosed but the price might stand around €150m according to some financial sources. Basalt is an infrastructure equity investment fund focusing on investments in utilities, energy and transport infrastructure in Europe and North America. Basalt also controls Wightlink.

Caronte & Tourist owns and operates 26 ferries providing lifeline ferry services between Sicily and the Italian mainland (Strait of Messina) and between Sicily and the Sicilian minor islands. “The company has a proven and well-established management team responsible for a strong core business with additional growth potential” said Rob Gregor, managing partner of Basalt Infrastructure Partners.

“We are very excited to welcome Basalt as a long term partner in our business. Their investment coupled with our market-leading position and knowledge help deliver the industrial plan of the company, growing the business to meet the needs of the Island and pursue further growth opportunities” added Antonino Repaci, chairman of Caronte & Tourist.