Grimaldi Group Asks EIB Some €50m For Supporting Fleet Retrofitting With Scrubbers

By | 2019 Newsletter week 40 | No Comments

Grimaldi Group returned to the European Investment Bank, asking for €70m, on a total cost of €150m, for a project involving “the retrofitting of SOx exhaust gas cleaning systems (scrubbers) to 10 ro-pax ferries, 17 conro vessels, 11 ro-ro vessels and 6 vehicle carriers” for a ‘total of 44 vessels’, the Luxembourg-lender reports. The request is ‘under appraisal’.

As for the objectives of Grimaldi’s plan, EIB explains that “the aim is to ensure that the promoter’s vessels comply with IMO, International Labour Organisation (ILO) and EU regulations governing the cleaning of exhaust gas emissions. The vessels concerned by this project will be outfitted with wet exhaust gas cleaning systems designed to remove harmful sulphur and exhaust particulates from the vessels engine emissions. The resulting emissions will meet future, more stringent international regulations and as such the project will contribute to a significant improvement of the environmental performance of the fleet”.

Grimaldi Group controlled Finnlines also received €50m from the EIB for installing 22 scrubbers on its fleet of ferries.

The Grimaldi Group Adheres To The ‘SAILS’ Charter

By | 2019 Newsletter week 35 | No Comments

The Grimaldi Group has decided to adhere to the “SAILS” (Sustainable Actions for Innovative and Low-impact Shipping) charter. This declaration allows companies operating in the sea transport sector to formalize and pursue their pioneering commitments to protect our planet and its people.

The initiative was launched last July by the French Ministry for Ecological and Inclusive Transition, with the support of ‘Armateurs de France‘ (France’s Shipping Association), 10 members of which have already signed the document (Brittany Ferries, CMA CGM, Corsica Ferries, Corsica Linea, La Méridionale, Louis Dreyfus Armateurs, L’Express des îles, Orange Marine, Ponant)

The Grimaldi Group is the first Italian shipping company to have signed the charter, thus undertaking, in addition to its regulatory obligations, to implement specific actions such as the decrease of atmospheric pollutant and greenhouse gas emissions, the reduction of the underwater noise impact of ships, the optimization of ships energy performance, the fight against invasive species, the protection of cetaceans.

For the First Time Grimaldi Group Exceeds a Revenue of €3 Billion

By | 2019 Newsletter week 23 | No Comments

Grimaldi Group of Naples closed 2018 with Revenues exceeding €3bn for the first time in its history, in spite of higher bunker costs.

  • -11% EBITDA €537.1m
  • -29% Net Result €212m

At the end of the past year the group headed by Diego Pacella, Gian Luca and Emanuele Grimaldi was operating a fleet of over 130 ships, of which 116 directly owned and with an average age of 13 years.

Details per company:

  • Grimaldi Deep Sea – Revenue €675m, EBITDA €114.5m and Net result €55.2m.
  • Grimaldi Euromed – Revenue €1.4 bln, EBITDA €142m and Net result €65m.
  • Finnlines – Revenue €595m, EBITDA €166.3m and Net result €95.1m.
  • Malta Motorways of the Seas – Revenue €32.2m, EBITDA €11.8m and Net result €2.8m.
  • Minoan Lines – Revenue €94.1m, EBITDA €8.5m and Net result €-5.7m.
  • Atlantic Container Lines – Revenue €325.4m, EBITDA €18.6m and Net result €-17.7m.

CRUISE ROMA Lengthening Completed At Fincantieri Shipyard In Palermo

By | 2019 Newsletter week 11 | No Comments

Grimaldi’s CRUISE ROMA lengthening project was successfully completed in the port of Palermo by Fincantieri.

Some pictures posted by the Naples-based group shows the 2007-built vessel in dry dock with her new final layout following the stretching works through which the hull had been extended by 29m.

The new ship section included 600 additional freight lane meters, together with 80 sleeping accommodations in new passenger cabins and two new public spaces.

“Zero emission in port” is now written on both the sides of the ferry. She has been fitted with a scrubber system, as well as a system to power the ship during the turnaround time in ports based on mega-lithium batteries.

Finnlines Grows With Its Customers

By | 2019 Newsletter week 10 | No Comments

Finnlines Plc published its financial review for the period January–December 2018. The Grimaldi Group company continues to perform well, with the result increasing by EUR 12.5 million to EUR 95.1 million.

Revenue also increased by 9.9% to EUR 589.4 million.

During Q4, the cargo volumes remained strong, increasing the revenue compared to last year from EUR 131.8 million to EUR 141.5 million. The result for October–December was EUR 19.7 (14.8) million.

In a statement, CEO Emanuele Grimaldi confirmed the success of the strategy:

  • Growing together with the customers
  • Investments in sustainable development
  • Deploy larger vessels in both the ro-pax and ro-ro segments, creating economies of scale
  • Route and vessel optimisation

What does the future bring?

  • In April 2018, Finnlines ordered three new green 5,800-lane-metre ro-ro vessels.
  • Finnlines is currently developing a new ro-pax class concept, the “Superstar” ro-pax


By | 2019 Newsletter week 7 | No Comments

Agreement Between Telespazio And Grimaldi For Satellite Communication Services

European spaceflight services company Telespazio and Grimaldi Group announced they have signed two contracts to strengthen the satellite communications capabilities of the Naples-based shipping group on its fleet of cargo and passenger ships.

Telespazio, a joint venture between Leonardo and Thales, said that the first agreement provides for managing on-board communications for ro-ro, multi-purpose and PCTC (Pure Car & Truck Carrier) vessels in the Grimaldi fleet that operate between Northern Europe, North and South America, West Africa, and the Mediterranean.

Telespazio will take care of the design and supply of on-board systems for satellite communications and related broadband services, including backup, on a multi-regional scale. These services will be provided via Telespazio’s global coverage platform operated by the Fucino Space Centre.

The second agreement covers renovating basic (voice and data) satellite telecommunication services for crew and passengers, on mixed cargo/passenger ships that the group currently operates in the Mediterranean, between Italy (including Sardinia and Sicily), Greece, Spain, Tunisia, Morocco, and Malta.

The overall value of both agreements signed between Telespazio and the Grimaldi Group is about EUR 5 million.

Grimaldi’s CRUISE ROMA Lengthening Started At Fincantieri Shipyard In Palermo

By | 2019 Newsletter week 4 | No Comments

Everything is ready for the lengthening of Grimaldi’s ferry CRUISE ROMA in Palermo. “At the end of the lengthening project, to be carried out by Fincantieri’s ship repair and conversion, part of the Services division, the ship will be about 254m long, having a gross tonnage of about 63,000 and being able to transport 3,500 passengers, with a 3,000m2 car deck and over 3,700 lane meters for trucks” the Italian shipyard said.

Both CRUISE ROMA and the sister ship CRUISE BARCELONA, built by Fincantieri in 2007 and 2008 respectively, will be stretched by 29m. (this includes 600 additional freight lane meters, together with 80 sleeping accommodations in new passenger cabins and two new public spaces.

The ships will also be fitted with a scrubber system, as well as a system to power the ship during the turnaround time in ports, based on mega-lithium batteries.

Finnlines Surfing On The Waves Of A Thriving Finnish Economy

By | 2018 Newsletter week 33 | No Comments

Grimaldi Group has performed very strongly in the first half of 2018:

  • Revenue EUR 289.1 million (+11.5%)
  • Result EUR 42.3 million (+20%)
  • EBITDA EUR 78.3 million.
  • Cargo units 338,000
  • Passengers 304,000

Productivity has been improved with the lengthening programme, which is complete at the end of the year: six lengthened vessels = an extra 6,000 lane metres = equivalent of two vessels.

Emanuele Grimaldi Awarded As Commander Of The Order Of The Lion Of Finland

By | 2018 Newsletter week 28 | No Comments

During a short ceremony held on the 4th of July in Rome, Emanuele Grimaldi, Managing Director of the Grimaldi Group and President and CEO of the subsidiary company Finnlines, received the honor of Commander of the Order of the Lion of the Republic of Finland.

The Ambassador of Finland in Italy, Janne Taalas, declared that the award, conferred by the President of the Republic of Finland, Sauli Niinistö, is a recognition for the great commitment of Emanuele Grimaldi, through the company Finnlines, in developing maritime transport to and from Finland which is of great support to the economy.