CIN Tirrenia suspended ferry services between the islands and the Italian mainland (31/3)
The liquidators of the old, bad ferry company ‘Tirrenia in Extraordinary Administration’, asked (30/3) to seize the current accounts of Tirrenia-CIN, in relation to the verdict of the European Commission. (see also Ferry Shipping News 10: No State Aids for CIN but Moby Now Has to Pay 115 Million for Tirrenia)
In a statement published on the Luxemburg Stock Exchange (30/3), owner Moby said the seizure happened in spite of the fact that CIN wrote several times to confirm its willingness to offer guarantees for payment.
Moby, which controls and operate Tirrenia’s fleet, further stated that “the company does have liquidity, but the blocking of the current accounts prevents it continuing to operate. The activities of CIN have been paralysed”.
Therefore, Moby added that it would be impossible to continue the maritime links with Sardinia, Sicily and Tremiti islands.
Italy pays an annual subsidy of EUR 72 million for these lifeline services.
Immediately the Minister of Transport issued an ultimatum: the situation should be resolved in 24 hours.
The Italian transport and economic development ministries had a conference call (1/4) with the Moby Group and the administrators of Tirrenia in Extraordinary Administration, in order to find a way for reopening all the subsidised maritime links.
The same day (1/4) an agreement was reached. The ferries from Tirrenia could sail again.
CIN and the Moby group confirmed in a press release that they will respect all their commitments, “as the Onorato family has always done for five generations of shipowners serving Sardinia for over 130 years, working actively to overcome the complex and systemic current situation continuing to honor the territories served and their needs with responsibility and sense of duty.”