According to the current timetable, the UK is due to leave the EU on 31 October. But what does withdrawal mean for those who ship freight between Sweden and the UK via the Port of Gothenburg? And will it affect those handling non-UK bound freight at the port?
Does Grimaldi Intend To Take Over ANEK LINES?
According to an article in the Greek news website newmoney.gr, there has been an exploratory discussion between a representative of the Italian Group and the management of Piraeus Bank, on whether there are conditions for Grimaldi Group to acquire ANEK LINES. A development that became serious when Piraeus Bank opened the discussion about the future of the MIG’s Attica Group (Superfast-Blue Star Ferries-Hellenic Seaways), as well as the future of ANEK LINES.
A few days ago, a senior executive of the Grimaldi Group said that Emanuele Grimaldi is interested in making serious investments in Crete. Within that framework there was a meeting held with the management of Piraeus Bank about ANEK LINES. However, the price was initially considered high and the conversation stopped there. Of course, that is not meaning that there will not be any surprises in the future.
Italian Group’s “circles” add that: “Crete must have one company resulting from the Minoan-ANEK merger and the Attica Group as a competitor”. Also they claimed that: “Minoan Lines have repaid all their bank loans while the company’s overall financial condition can possibly absorb the financial shocks from a possible purchase of the ANEK LINES “.
Moreover, senior executives of the Italian Group made a few points about the future of Hellenic Coastal Lines:
- Things will become very serious at the end of 2019 early 2020.
- Next year will be crucial for the Greek Ferry Operators. The comparative advantage in Hellenic Coastal Lines will be for those who do not have debts as well as for those that have also foreseen installing scrubbers on their ships.
- Those operators that failed to install scrubbers to their fleets will be forced to use the other type of fuel that costs much more.
- The increase in fuel prices will result in the financial burden on ferry companies in 2019.
Also, they stressed that the Italian Group is always considering plans to expand its routes, but everything will depend on the conditions of the ferry market.
Grimaldi Group’s Ferries Undergoing Scrubber Conversion
Grimaldi Group’s ferries have already been in line in order to undergo their scheduled scrubber conversion. First to have arrived at Dock n°4 of Palumbo shipyards (Malta) was the cruise ferry CRUISE BONARIA. The Italian-built ship is also having her shafts repaired.
A few days later she was followed by the larger CRUISE OLYMPIA which is currently at Dock n°6 undergoing her scrubber conversion.
Grimaldi Group returned to the European Investment Bank, asking for €70m, on a total cost of €150m, for a project involving “the retrofitting of SOx exhaust gas cleaning systems (scrubbers) to 10 ro-pax ferries, 17 conro vessels, 11 ro-ro vessels and 6 vehicle carriers” for a ‘total of 44 vessels’, the Luxembourg-lender reports. The request is ‘under appraisal’.
As for the objectives of Grimaldi’s plan, EIB explains that “the aim is to ensure that the promoter’s vessels comply with IMO, International Labour Organisation (ILO) and EU regulations governing the cleaning of exhaust gas emissions. The vessels concerned by this project will be outfitted with wet exhaust gas cleaning systems designed to remove harmful sulphur and exhaust particulates from the vessels engine emissions. The resulting emissions will meet future, more stringent international regulations and as such the project will contribute to a significant improvement of the environmental performance of the fleet”.
Grimaldi Group controlled Finnlines also received €50m from the EIB for installing 22 scrubbers on its fleet of ferries.
The Grimaldi Group has decided to adhere to the “SAILS” (Sustainable Actions for Innovative and Low-impact Shipping) charter. This declaration allows companies operating in the sea transport sector to formalize and pursue their pioneering commitments to protect our planet and its people.
The initiative was launched last July by the French Ministry for Ecological and Inclusive Transition, with the support of ‘Armateurs de France‘ (France’s Shipping Association), 10 members of which have already signed the document (Brittany Ferries, CMA CGM, Corsica Ferries, Corsica Linea, La Méridionale, Louis Dreyfus Armateurs, L’Express des îles, Orange Marine, Ponant)
The Grimaldi Group is the first Italian shipping company to have signed the charter, thus undertaking, in addition to its regulatory obligations, to implement specific actions such as the decrease of atmospheric pollutant and greenhouse gas emissions, the reduction of the underwater noise impact of ships, the optimization of ships energy performance, the fight against invasive species, the protection of cetaceans.
Grimaldi Group of Naples closed 2018 with Revenues exceeding €3bn for the first time in its history, in spite of higher bunker costs.
- -11% EBITDA €537.1m
- -29% Net Result €212m
At the end of the past year the group headed by Diego Pacella, Gian Luca and Emanuele Grimaldi was operating a fleet of over 130 ships, of which 116 directly owned and with an average age of 13 years.
Details per company:
- Grimaldi Deep Sea – Revenue €675m, EBITDA €114.5m and Net result €55.2m.
- Grimaldi Euromed – Revenue €1.4 bln, EBITDA €142m and Net result €65m.
- Finnlines – Revenue €595m, EBITDA €166.3m and Net result €95.1m.
- Malta Motorways of the Seas – Revenue €32.2m, EBITDA €11.8m and Net result €2.8m.
- Minoan Lines – Revenue €94.1m, EBITDA €8.5m and Net result €-5.7m.
- Atlantic Container Lines – Revenue €325.4m, EBITDA €18.6m and Net result €-17.7m.
Grimaldi’s CRUISE ROMA lengthening project was successfully completed in the port of Palermo by Fincantieri.
Some pictures posted by the Naples-based group shows the 2007-built vessel in dry dock with her new final layout following the stretching works through which the hull had been extended by 29m.
The new ship section included 600 additional freight lane meters, together with 80 sleeping accommodations in new passenger cabins and two new public spaces.
“Zero emission in port” is now written on both the sides of the ferry. She has been fitted with a scrubber system, as well as a system to power the ship during the turnaround time in ports based on mega-lithium batteries.
Finnlines Plc published its financial review for the period January–December 2018. The Grimaldi Group company continues to perform well, with the result increasing by EUR 12.5 million to EUR 95.1 million.
Revenue also increased by 9.9% to EUR 589.4 million.
During Q4, the cargo volumes remained strong, increasing the revenue compared to last year from EUR 131.8 million to EUR 141.5 million. The result for October–December was EUR 19.7 (14.8) million.
In a statement, CEO Emanuele Grimaldi confirmed the success of the strategy:
- Growing together with the customers
- Investments in sustainable development
- Deploy larger vessels in both the ro-pax and ro-ro segments, creating economies of scale
- Route and vessel optimisation
What does the future bring?
- In April 2018, Finnlines ordered three new green 5,800-lane-metre ro-ro vessels.
- Finnlines is currently developing a new ro-pax class concept, the “Superstar” ro-pax
Agreement Between Telespazio And Grimaldi For Satellite Communication Services
European spaceflight services company Telespazio and Grimaldi Group announced they have signed two contracts to strengthen the satellite communications capabilities of the Naples-based shipping group on its fleet of cargo and passenger ships.
Telespazio, a joint venture between Leonardo and Thales, said that the first agreement provides for managing on-board communications for ro-ro, multi-purpose and PCTC (Pure Car & Truck Carrier) vessels in the Grimaldi fleet that operate between Northern Europe, North and South America, West Africa, and the Mediterranean.
Telespazio will take care of the design and supply of on-board systems for satellite communications and related broadband services, including backup, on a multi-regional scale. These services will be provided via Telespazio’s global coverage platform operated by the Fucino Space Centre.
The second agreement covers renovating basic (voice and data) satellite telecommunication services for crew and passengers, on mixed cargo/passenger ships that the group currently operates in the Mediterranean, between Italy (including Sardinia and Sicily), Greece, Spain, Tunisia, Morocco, and Malta.
The overall value of both agreements signed between Telespazio and the Grimaldi Group is about EUR 5 million.
Everything is ready for the lengthening of Grimaldi’s ferry CRUISE ROMA in Palermo. “At the end of the lengthening project, to be carried out by Fincantieri’s ship repair and conversion, part of the Services division, the ship will be about 254m long, having a gross tonnage of about 63,000 and being able to transport 3,500 passengers, with a 3,000m2 car deck and over 3,700 lane meters for trucks” the Italian shipyard said.
Both CRUISE ROMA and the sister ship CRUISE BARCELONA, built by Fincantieri in 2007 and 2008 respectively, will be stretched by 29m. (this includes 600 additional freight lane meters, together with 80 sleeping accommodations in new passenger cabins and two new public spaces.
The ships will also be fitted with a scrubber system, as well as a system to power the ship during the turnaround time in ports, based on mega-lithium batteries.