Moby’s Seasoned Ferry GIRAGLIA up for Sale and Likely to be Scrapped

By | 2020 Newsletter week 18 | No Comments

The 1981-built ferry Giraglia owned by Moby Group is being circulated by several ship brokers as the Onorato-controlled company put the asset up for sale.

One of the messages circulated on the market reports that, following the grounding which took place recently in front of the port of Santa Teresa di Gallura, ship’s bottom and its relevant structures found are damaged with hull longitudinal breach. The vessel, which was deployed on the route between the north of Sardinia (Santa Teresa di Gallura) to the south of Corsica (Bonifacio) is indeed defined as “to be repaired”. Given its age (almost 40 years) the GIRAGLIA may be sold for scrap.

Regarding the ongoing negotiation with the creditors, the Italian financial newspaper IlSole24Ore reported this week that Moby is in advanced talks with the banks and the bondholders to restructure the company’s debt under the 182-bis procedure insolvency law.

Worries Caused by Interruption of Ferry Service between Corsica and Sardinia

By | 2020 Newsletter week 8 | No Comments

On 6 February, Moby Line’s GIRAGLIA hit a rock. She had to be repaired and left the route between Sardinia and Corsica without a ship for 10 days.

It is a vital logistic link between the two islands. The other ship, BASTIA, was not available due to winter maintenance. She is expected back soon.

The incident raised concerns:

  • How long can this old tonnage remain in service? GIRAGLIA is from 1981, BASTIA from 1974.
  • Since 2016 talks have been going on about the creation of an inter-island, inter-European public service contract (GECT – groupement européen de coopération territoriale), so far without anything concrete.