The conversion of the NISSOS CHRISI (1992, ex-RUNGHOLT) at the Atsalakis shipyard is progressing at a good pace. Her bow has already been formed, while the bow ramp is already in place. After the completion, she is expected to be introduced on the Kastelli-Gramvousa-Balo line. However, that will depend on the latest market developments.
AML’s MOROCCO SUN is undergoing final preparations. The ship is expected to depart for Tanger Med next week and she will stay there. She had arrived in Perama in October 2019 for mechanical repairs and upgrades in order to reduce her smoke issues. However, due to Covid-19 she was “trapped” in Greece and lost the summer season on the Strait of Gibraltar.
Ropax STENA LAGAN Lengthening Underway at Sedef Shipyard in Turkey
Italian heavy lift specialist Fagioli Group announced to have been contracted for the lengthening operation of STENA LAGAN at Sedef Shipyard.
“After the ship was cut by the client, Fagioli used synchronized skid shoes system to move forward the bow section. This operation allowed the client to insert the new section which lengthened the ship of about 36 meters” the company specified.
The work description provided by Fagioli also added: “At last, after welding activities between additional and stern section was completed, the bow section was skidded back in order to reassemble the ship in its final configuration”.
This operation is adding to a long list of “jumboizing” activity executed by Fagioli during the last ten years, mainly in Italy at Fincantieri shipyard.
An aerial picture of Wasaline’s new ropax AURORA BOTNIA. She has been floated out at Rauma Marine Constructions on Friday 11 September.
A Symphony in Steel – Snapshots from Greek Ferries in September 2020
A video by “Just Ferries”
The SOS-Signals Sent by Brittany Ferries Reached Paris
EUR 15 million
French Prime Minister Jean Castex has announced on Tuesday 15 September the decision to help the French ferry companies by reimbursing all payroll taxes.
From a budget of EUR 30 million, hard-hit Brittany Ferries will get 15 million.
EUR 85 million
The same day, Presidents of the Bretagne (Brittany) and Normandy regions, Loïg Chesnais-Girard and Hervé Morin, promised another EUR 85 million.
The regions are involved in Brittany Ferries, as co-owners of the vessels.
Brittany Ferries Chairman Jean-Marc Roué thanked the two regional presidents, saying that, “they seem to be the only ones who understand the importance of the cross-Channel ferry traffic. They have been the only ones to effectively help the French seafarer and the few companies that still hire them.”
Source: Twitter messages from abovementioned politicians and Mr Roué.
Finnish Transport and Communications Agency Traficom is preparing a financial aid package of EUR 24.8 million to help ferry companies that are in trouble because of the pandemic.
The aid can go to multiple companies. The operation has to be loss-making and the route has to be vital for Finland.
Last week Finland has announced the lifting of travel restrictions for a number of countries, including Sweden and Germany. The restrictions are based on a new limit of 25 infections per 100,000 inhabitants. Before it was 8.
These first changes to travel restrictions will take effect on September 19.
Ferry companies, unions and other stakeholders welcome the decision but demand predictability in government decisions and communications.
“We are now preparing for the fact that it may take a long time before we return to normal operations,” says Rickard Ternblom, CEO of Fjord Line.
The effect of the measures that were taken before the summer with cash support, refinancing, internal restructuring and equity, is estimated at NOK 700 million in positive cash flow for 2020, and secures operations throughout this year. The company believes it shows that owners, banks, lenders and other suppliers and partners have great faith in the business model and the long-term goals.
Even with the authorities’ extended redundancy rules, compensation scheme and loan guarantee scheme, we will not escape the fact that employees will be affected. Up to 200 people will be laid off. Cost reductions are the only thing that helps when revenues fall as dramatically as what we have experienced in recent months, says Ternblom.
MSC has finally taken a 49% stake in the Ignazio Messina & C. shipping group.
An official statement from Banca Carige and the NPL management company Amco informed that Gianluigi Aponte’s Italian holding company Marinvest and Messina Group have formally signed all the requested conditions which makes MSC the new owner of four ships and of a minority stake in the Genoa-based con-ro operator.
Aponte will invest €25m both for a 49% stake in the Ignazio Messina & C. group and for a 52% stake in a new vehicle firm called RoRo Italia, controlling four of Messina’s eight modern con-ro ships: JOLLY DIAMANTE, JOLLY PERLA, JOLLY TITANIO and JOLLY COBALTO.
Messina had a financial exposure of over €500m –mainly with Banca Carige– related to fleet renovation plan completed in the last few years, with 8 new con-ro ships built in South Korea.
Large part of these non-performing loans (€324m) was offloaded to Amco while the remaining part went to the new vehicle RoRo Italia.
The Messina family will also put €5m on the table to re-launch the business which will benefit from several operative synergies between the Italian and the Swiss firms.
The agreement also obtained all the relevant approvals.
