Private Equity funds Apollo and HPS injected USD 75 Million in Naviera Armas

By | 2020 Newsletter week 41 | No Comments

Spanish media reports that Naviera Armas has just received financial oxygen from two private equity funds, Apollo and HPS. They injected some USD 75 million in order to keep the ferry company alive in the rough seas of the coronavirus emergency.

Since the news went public both the EUR 280 and 300 million bonds issued respectively in 2016 and 2017 and due to expire in 2023 and 2024 decreased their values and are now negotiated in the range between 40 and 50% of the original value.

This new debt received from the funds comes after EUR 50 million provided by some Spanish banks earlier this year.

Last week Grandi Navi Veloci officially announced to have sub-chartered from Naviera Armas-controlled Trasmediterranea both ropaxes TENACIA and FORZA owned by Grimaldi Holding and deployed up to now on the Spain – Balearic Islands routes.

GNV Charters-In Two Ro-Pax Ships from Trasmediterranea and Redelivers Two Ro-Ro Units

By | 2020 Newsletter week 40 | No Comments

MSC-controlled ferry company Grandi Navi Veloci revealed to have chartered-in two ropax ships owned by Grimaldi Holding, but in long time charter to the Spanish company Trasmediterranea. The GNV sub-charter is for one year.

The units in question are TENACIA and FORZA, both with a capacity of 2,000 lane meters and 1,000 passengers.

These two ships will be deployed on Genoa – Palermo.

During the last three months the ro-ro ships PAULINE RUSS and ELISABETH RUSS operated the route in a freight-only mode. This charter has just expired.

More GNV Ships Deployed To Accommodate Quarantined Migrants

By | 2020 Newsletter week 36 | No Comments

GNV ALLEGRA is the third GNV ferry deployed as accommodation vessel for quarantined migrants.

Soon after this news, it was announced that also RHAPSODY and SNAV ADRIATICO from GNV’s fleet are en route to Palermo and will be deployed as accomodation vessels for migrants/

With GNV AZZURA and AURELIA, selected earlier by the Italian government and still employed, that makes 5 GNV ships on charter to the Government.

Since the summer season in Sardinia is ending earlier than expected (covid-19 infections were on the rise in august among tourists), many ferries are available.

RHAPSODY and GNV ALLEGRA Obtained Biosafe Ship Notation from RINA

By | 2020 Newsletter week 36 | No Comments

Grandi Navi Veloci obtained the RINA “biosafe ship” notation for two vessels of its fleet: RHAPSODY and GNV ALLEGRA.

Biosafe Ship is a new goal-based notation, based on many different systems, components and operative procedures to control and prevent possible onboard infection outbreak. In response to the Covid-19 pandemic, RINA has further strengthened its commitment towards a biosafe shipping by developing dedicated services for the infection prevention and control that is the first additional class notation devoted to this particular matter.

Grandi Navi Veloci Announced a New RoPax from Visentini, To Be Delivered in 2021

By | 2020 Newsletter week 32 | No Comments

Grandi Navi Veloci, a ferry company part of MSC Group, announced that a new ro-pax unit currently under construction at Cantiere Navale Visentini shipyard will be added to its fleet next year.

The newbuilding is scheduled for delivery next spring and is a sistership of CIUDAD DE VALENCIA just handed over to Trasmediterranea (photo below).

(203m / 32,000 GT / 157 cabins / 1,000 passengers / 2,564 lane metres / 24 knots speed)

Further details were not disclosed but, as the technical management of the ship will be in the hand of a company controlled by the Visentini family, it’s likely that Grandi Navi Veloci will take the new ro-pax unit in long-term charter, maybe with purchase option.

Exactly one year ago, Gianluigi Aponte, founder of MSC Group, revealed that the project for 2 + 2 new ferries at GSI shipyard in China was suspended due to the higher price requested.

As of today, the Genoa-based ferry company operates a fleet of 16 vessels deployed on the national and international market linking Sicily, Sardinia, Spain, Tunisia, Morocco, France and Albania.

Double Ro-Ro Charter For Grandi Navi Veloci For The Genoa – Palermo Link

By | 2020 Newsletter week 28 | No Comments

Not one, but two ro-ro ships are chartered by Grandi Navi Veloci for the Genoa – Palermo motorway of the seas, in order to free car capacity on the company’s ro-pax fleet.

Just a few days after the PAULINE RUSS arrived in Italy to start a three-month charter for Grandi Navi Veloci, this week also the sister ship ELISABETH RUSS reached the port of Genoa where it started to operate a regular freight link with Palermo.

Both vessels have been chartered for the summer season at a daily rate of some EUR 6,000 each.

GNV Adds RoRo Tonnage

By | 2020 Newsletter week 27 | No Comments

The Genoa-based ferry company Grandi Navi Veloci chartered-in for a few months the ro-ro unit PAULINE RUSS.

The vessel, which has 1,624 lane metres for 120 semitrailers capacity, is already deployed on the Genoa – Palermo maritime link for the summer season. This same vessel had been chartered-in by Moby – Tirrenia in the last few years.

Grandi Navi Veloci this week also announced to have obtained from Rina classification society the “Biosafety Trust Certification” confirming that both the vessel and the terminal operators of the group are compliant with the Covid emergency measures.

Passenger Transport Between Sardinia And Italy Reopens – Excluded Ferry Companies Protest

By | 2020 Newsletter week 23 | No Comments

Italy’s transport minister announced on June 2nd that passenger transport to and from Sardinia island could re-open.

In a first phase only the ferry company operating the territorial continuity (i.e. Tirrenia – Compagnia Italiana di Navigazione) is allowed to start.

For all the other players operating on the same routes (Corsica Sardinia ferries, Grimaldi, Grandi Navi Veloci and Moby) the restart-date is June 13th.

The same rule applied for air transportation. Only public airline firm Alitalia was allowed to start.

This decision has been fiercely opposed by the shipowners and logistics associations Confitarma and Federlogistica supporting respectively Grimaldi and Grandi Navi Veloci’s interests. They ask the minister to rethink the act, also recalling antitrust issues as the measure would distort competition among ferry operators.