Sep 30
Love4

Moby Signed a New MoU with a Part of the Bondholders

By 2021 Newsletter week 39

Moby Group announced that on 21 September, together with its wholly-owned subsidiary CIN SpA and the parent company Onorato Armatori Srl (Moby, CIN and Onorato Armatori Srl form together the Moby Group) entered into a non-binding Memorandum of Understanding with an ad hoc group of bondholders who together hold in excess of 33% of the outstanding amount under the EUR 300 million Senior Secured Notes due issued by Onorato Armatori.

“Pursuant to the MoU, the Moby Group and the Ad Hoc Group will engage in negotiations with the purpose of, inter alia, providing the additional financial resources necessary to support a new composition plan to be submitted to Moby Group financial creditors”. The company also added that will “make a further announcement in due course, as appropriate”.

This week Bloomberg also reported that Morgan Stanley and two of its top distressed-debt traders are being sued by Italian ferry operator Moby which claims it has recordings showing the bank and an investor were secretly trying to seize control of the company away from other creditors.

Sep 30
Love4

Glenhallen’s RoRo IVAN Partially Sank in the Port of Algiers

By 2021 Newsletter week 39

Roro ship IVAN, owned by Suardiaz and operated (in bare boat charter & purchase) by Glenhallen, lost stability and capsized at Algiers port in Algeria on September 29.

Reportedly, stability loss was caused by water ingress on cargo deck, which in its’ turn, was probably caused by faulty ballasting and ensuing list. 17 crew are safe, 6 of them (all Filipino) treated in hospital with slight injuries.

The incident was confirmed to Ferry Shipping News also by Umberto Lazzareti, head of the Malta-registered shipping company Glenhallen which offers regular sailings between Italy and North of Africa (mainly Libya).

Sep 30
Love4

Salamis Lines Signed MOA for the Sale of RoRo ALEXO

By 2021 Newsletter week 39

Salamis Tours (Holdings) Public Ltd. announced the signing of an agreement (MOA) for the sale of RoRo ALEXO (1983). The ship will be delivered by October 2021, while on the Lavrio-Limassol-Haifa line she will be replaced by the newer RoRo VASSILEIOS (1990), which was purchased last June.

The ship was sold for USD 3.5 million and currently is on her way to the port of Larnaca.

Sep 16
Love4

Win-Win Alliance between CMA CGM and Brittany Ferries

By 2021 Newsletter week 37

Alliance between two iconic French companies with far-reaching possibilities and synergies:

  • CMA CGM has agreed to make a €25 million investment in Brittany Ferries, including €10 million in quasi-equity. Through this agreement, CMA CGM is seeking to support Brittany Ferries’ post-Covid-19 recovery.
  • The partnership will help to unlock synergies.
  • A representative of the CMA CGM Group will join Brittany Ferries’ Supervisory Board.
  • Commercial partnership: CMA CGM can use available cargo space on board Brittany Ferries’ services to the United Kingdom, Ireland and the Iberian Peninsula. (faster cargo flows than with containers)
  • The transportation of goods aboard Brittany Ferries ships will help expand the CMA CGM Group’s offering in the roro sector for the Atlantic and northern coast of France to destinations in the United Kingdom.
  • Brittany Ferries will gain more expertise in modern freight and logistics needs. (multimodal).
  • New roro services will be created.
  • CMA CGM has since many years roro operations between Marseille and the Maghreb. See on their website for more information.

With more than 500 vessels, CMA CGM Group offers a combined capacity of 3 million TEUs.

After Maersk and MSC (*), it is the third largest container group.

(*) MSC Group owns ferry companies GNV and SNAV

Sep 16
Love4

DFDS: Monthly Volume Report: Freight Growth Continued in Most Regions

By 2021 Newsletter week 37

Freight

Total volumes in August 2021 were 0.6% above 2020.

Net adjustments for structural route changes reduced growth 1.9 ppt to -1.3%.

The volumes transported in August 2021 by the Baltic Sea and Mediterranean business units were well above August 2020.

North Sea volumes were on level as automotive volumes were negatively impacted by the current global supply chain bottlenecks.

Volumes for each of the three business units were above 2019.

Following a decrease in the total Channel market, and re-introduction of a ferry taken out of the market in 2020 by P&O Ferries, the Channel volumes were below 2020, adjusted for the Dunkirk-Rosslare route opened at the beginning of 2021.

Passenger

The total number of passengers in August 2021 was 38.9% below 2020 reflecting a continued negative impact from travel restrictions as well as a temporary easing of restrictions in the first half of August 2020.

Baltic Sea’s passenger volumes continued to be above 2020.

Sep 16
Love4

Getlink Launches a New Unaccompanied Rail Freight Cross-Channel Service

By 2021 Newsletter week 37

From September 18, 2021, a new cross-Channel freight service will be open to all transporters, using an unaccompanied mode through the Channel Tunnel, says Getlink in a press release.

The crossing will be managed by Eurotunnel Le Shuttle Freight and will operate 24 hours a day and six days per week.

Departures will be from the Group’s two terminals in Calais or Folkestone. The capacity will be 8,300 trailers per year.

Getlink plays the environmental card, saying that “this new rail service will emit 40 times less CO2 than ferries,” referring to the DFDS Calais – Sheerness service.

Sep 16
Love4

Four Shipyards Invited to Tender for New Islay Vessels

By 2021 Newsletter week 37

Caledonian Maritime Assets Limited (CMAL) has invited four shipyards to bid for the contract to build two new ferries for Islay:

  • Damen, Romania
  • Remontowa Shipbuilding
  • Sefine Denizcilik Tersanecilik Turizm
  • Cemre Marin Endustri

The contract will be awarded no later than the end of March 2022.

The new vessels will have greater vehicle capacity than the current vessels on the route (FINNLAGAN and ISLE OF MULL), and will have significantly lower energy requirement. They will be designed with a clear focus on freight, including the capability to operate a possible overnight freight service.

Sep 16
Love5

One Billion Zlotys for the Construction of Four Ferries

By 2021 Newsletter week 37
  • One billion zlotys (EUR 220 million) for the construction of 3+1 ropax ferries for PŻM and PŻB.
  • Signing of the notarial deed on Tuesday 14 September for the creation of company Polskie Promy, established for this circumstance and representing the two shipowners.
  • Polish Deputy Minister of Infrastructure Marek Gróbarczyk said that it was a continuation of the “Batory” project.
Sep 16
Love4

Grendi and Corsica Ferries Express Interest in the subsidised line Civitavecchia – Cagliari

By 2021 Newsletter week 37

After two failed attempts of public tenders for the maritime continuity on the Civitavecchia – Arbatax – Cagliari route between Sardinia island and Italy mainland, the Italian transport ministry is desperately trying to reactivate the line which had been operated by Tirrenia Cin until last September 15th.

Once the subsidised period expired, the Moby-controlled company stopped the service and now the local government is talking with all the ferry companies potentially interested at operating the line.

It seems among them there is also Corsica Ferries which expressed its interest in partnership with Grendi Trasporti Marittimi, but also Grimaldi, Grandi Navi Veloci and Tirrenia Cin are in talks with the ministry.

Both the previous public tenders failed for several reasons, both financial (not enough public money offered) and operative since the requested stop in the port of Arbatax is considered inefficient and worthless by the companies.