2021 Newsletter week 13

Dr Emanuele Grimaldi Looks at Potential Takeovers and Asks for State Aids Not to Distort Competition

“Local and international policy makers should have a more equal, horizontal, green and proportional distribution of public aids.”

Moby Group announced to have filed a request for business continuation (“Domanda in continuità”) within the deadline set by the Court of Milan on March 29.

“The plan, while providing for the sale of some assets, is based on business continuity, on the maintenance of jobs and on the preservation of existing routes” the Onorato-controlled company explained.

“The plan has been devised considering the positive results recorded in the last year and the expected arrival two new Ro-Pax ferries, currently under construction, with a capacity of 2,500 passengers and 3,750 lane metre of freight each”.

SHIPPING ITALY exclusively revealed that Moby decided to sell the harbour tug division (bound to the Venice-based company Rimorchiatori Riuniti Panfido), the ropax ferries MOBY AKI (*), MOBY WONDER (*), MOBY TOMMY, the roro ships PIETRO MANUNTA and GIUSEPPE SA, and two real estate properties in Milan and in Olbia.

Furthermore, the holding company Onorato Armatori will also put EUR 2 million when and if the plan is accepted by the Court and the creditors.

With regards to CIN Spa (the entity controlling the Tirrenia brand), the group “confirms its intention to present a restructuring plan pursuant to 182 bis of Italian Bankruptcy Law, mindful of the agreements signed with approximately 95% of suppliers and thanks to the partnership with the investor, Europa Investimenti/Arrow Global Group Plc”.

The filing of the sanctioning application for CIN has been postponed for a few days to allow for negotiations with Tirrenia in Amministarzione Straordinaria to conclude.

(*) MOBY AKI and MOBI WONDER were the two ferries earmarked for the DFDS IJmuiden – Newcastle service, as announced by Ferry Shipping News in 2019 (and cancelled later).

If you missed last week’s ‘breaking news’: Irish Ferries announced a new service on the Dover – Calais route.

This service is planned to start in June 2021, with the transfer of the ISLE OF INISHMORE to the route. Additional capacity will be added in the coming months. (most likely 3 vessels in total by Q3)

Although one-ticket ‘landbridge’ travel between the Continent and the Republic of Ireland is already offered by freight agencies, Irish Ferries puts the new service on the market with the Common Transit Convention as USP.

“This additional capacity on the Dover – Calais route will significantly strengthen the capacity and reliability of the landbridge for exporters and importers.  Hauliers will now have one operator providing an inclusive service on the Dublin – Holyhead, Rosslare – Pembroke and Dover – Calais routes. This will allow exporters and importers easier, cheaper, and quicker access to the European markets via the Common Transit Convention,” says Irish Ferries in its press release.

The common transit procedure is used for the movement of goods between the EU Member States, the EFTA countries, Turkey, the Republic of North Macedonia, Serbia and recently the UK. This is about EU goods, which, between their point of departure and point of destination in the EU, have to pass through the territory of a third country, in this case, the UK.

Irish Ferries says the intention is to offer passenger services on the route, when Covid permits.

The move seems to be a counterattack to the direct sea lines between the Continent and Ireland.

Last night (31 March), BLUE STAR 1 sailed away from Piraeus, with Rosslare as destination. She will be chartered by Irish Ferries for the service to Pembroke.

The new ropax GNV BRIDGE was completed by Cantiere Navale Visentini in Porto Viro and has been transferred to Trieste for some final works before the sea trials.

Grandi Navi Veloci, a ferry company part of MSC Group, announced last summer that a new ropax unit would be added to its fleet in 2020 and that the newbuilding is a sistership of CIUDAD DE VALENCIA recently handed over to Trasmediterranea.

(203m / 32,000 GT / 157 cabins / 1,000 passengers / 2,564 lane metres / 26 knots)

Stena Line temporarily adds extra capacity between Travemünde and Liepaja during several weeks in April and May.

The 1,500 lane metre STENA VINGA joined the STENA GOTHICA and URD on the route with the first departure from Travemünde on Tuesday 30 March.

Stena Line temporarily adds extra capacity between Travemünde and Liepaja during several weeks in April and May.

The 1,500 lane metre STENA VINGA joined the STENA GOTHICA and URD on the route with the first departure from Travemünde on Tuesday 30 March.

Tasmanian Government To Provide $100 Million Loan To Incat, If It Wins The Elections

The Liberals will provide a AUD 100 million interest-free loan to help Tasmanian shipbuilder Incat build a new high-speed vessel if it wins a third term of government.

Australian Community Media early this month reported one of Incat’s customers, Spanish company Naviera Armas, was in serious financial difficulties, largely because of the impact of the coronavirus pandemic. That contract is worth $109 million.

Incat says the $100 million loan from the government would allow it to build a new 120-metre catamaran.

Will Stena RoRo Build The Three Optional E-Flexers?

Stena RoRo has a job for an experienced project manager:

“We have ordered a total of nine so-called RoPax vessels, four of which have so far been delivered by CM Jinling Shipyard in Weihai, China. We have a further three options for similar vessels at the same Shipyard. As a Project Manager you will be offered the interesting challenge of involvement in these projects….”