TECHNOLOGY

By | 2019 Newsletter week 23 | No Comments

Moby And Tirrenia Tickets Can Be Purchased With Telepass Pay

As from Monday 3 June, it will be possible to buy tickets for the routes operated by the companies Moby, Tirrenia and Toremar through the Telepass App, in the new “Ships and Ferries” section.

The cost of the trip will be charged on the Telepass Pay account.

The start of the passenger service is the first step in a technological journey that will also be extended to the freight sector.

Moby Officially Confirmed The Sale Of AURELIA And HARTMUT PUSCHMANN

By | 2019 Newsletter week 11 | No Comments

The news reported last week in this newsletter has been officially confirmed by the Milan-based company controlled by Vincenzo Onorato and sons.

“Compagnia Italiana di Navigazione S.p.A., fully owned by Moby S.p.A., sold the vessel HARTMUT PUSCHMANN to a foreign purchaser, in compliance with the provisions of the Indenture and of the Intercreditor Agreement. The Net Available Cash (approx. €12.9m) from such disposal is applied to the extent to make capital expenditures, or invest in, or commit to invest in Additional Assets within 365 days from the receipt of such Net Available Cash” a statement reports.

As for the second deal closed, Moby also communicated that “Compagnia Italiana di Navigazione S.p.A. sold a minor vessel AURELIA to an Italian purchaser. In relation to the Net Available Cash (approx €6m) from the sale of the Aurelia Vessel, the same provisions as above are applied”. The ferry AURELIA was purchased by MSC’s Italy-based holding company Marinvest.

FERRY SHIPPING

By | 2019 Newsletter week 10 | No Comments

HARTMUT PUSCHMANN

Moby Fleet Changes: MARIA GRAZIA ONORATO In And HARTMUT PUSCHMANN Out

In the near future some further changes are expected to take place in Moby and Tirrenia’s ro-pax fleet.

The Milan-based group controlled by the Onorato family is rumoured to have just closed the sale of the aged ro-ro unit HARTMUT PUSCHMANN for a price of € 13 million. Some sources report the Cyprus-based Ntiolio Shipping Company Ltd as buyer while some others suggest it should be the Egyptian ferry company El Salam. Moby declined to comment on the deal, but broker sources reveal that the ship will be bare boat chartered back for six months.

MARIA GRAZIA ONORATO launching ceremony at Flensburg shipyard

The 1,820 lane metre HARTMUT PUSCHMANN was built in 1993 by Fincantieri in Palermo and has been recently deployed on the Livorno – Olbia route by Tirrenia.

For one vessel leaving the company’s fleet there will be soon another one replacing it. The cargo sales director, Pierre Canu, said in the occasion of the Transport Logistic exhibition just held in Verona that “a new 4,600 lane metres ro-ro ship is soon to be delivered by the shipyard and therefore will enter into service before next spring on the route covered by Moby Group to and from the port of Catania, in Sicily”. The vessel in question which just left Flensburger shipyard for the sea trials is the MARIA GRAZIA ONORATO, sister ship of the ALF POLLACK bare boat chartered by Onorato Armatori few months ago and then chartered-out to DFDS.

Moby And Tirrenia Merger Approved By Extraordinary Shareholders’ Meetings

By | 2018 Newsletter week 43 | No Comments

The announced merger of the two Italian ferry companies Moby and Tirrenia received the green light from the company’s shareholders.

A statement published on the Luxembourg stock exchange’s website, the group controlled by Vincenzo Onorato says:

“Extraordinary Shareholders’ meetings of Moby S.p.A. (Moby) and of its wholly-owned subsidiary Compagnia Italiana di Navigazione S.p.A. (CIN), both held on 17 October 2018, have passed resolutions approving the reverse-merger project which provides for the merger of Moby into CIN. The reverse merger will be effective as from the date in which the last filing pursuant to Article 2504 of the Italian Civil Code will be made or from any other date stated in the deed of merger.”

The headquarters of the group is expected to be moved back from Milan to Cagliari, in Sardinia.

Why Does Moody’s Downgrade A Healthy Moby?

By | 2018 Newsletter week 23 | No Comments

In spite of a healthy EBITDA of EUR 135 million in 2017, Moody’s Investors Service downgraded Moby S.p.A. by two notches on May 14th.

The reasons can be found in uncertainties:

  • Challenging trading conditions with tough competition.
  • Moody’s does not think that new initiatives on Corsica and Sicily will run break-even in 2019.
  • The Italian anti-trust regulator imposed a fine of EUR 29 million for abusing its dominant position on three routes between continental Italy and Sardinia. Moby will appeal the decision.
  • The ongoing investigation from the European Commission into Tirrenia-CIN’s subsidies received since 2012.

Moby Triples Net Result

By | 2018 Newsletter Week 18 | No Comments

Below are selected financial highlights for the fiscal year 2017 of Moby S.p.A., based on the Group’s audited, consolidated financial statements:

  • Revenues: EUR 586m, up 9%
  • EBITDA: EUR 131.8m, up 13.3%
  • Net result EUR 24.5m, tripled from EUR 7.7m
  • Total net financial debt: EUR 496.4m as of 31 December 2017

 

Traffic figures:

  • Passengers: 6.5 million
  • Freight: 7.5 million lane meters

 

The start-up of three new activities weighed on the balance sheet:

  • Cruise ferry in the Baltic Sea (Moby SPL)
  • A new connection from France to Corsica.
  • Further strengthening the motorways of the sea.

IN THE MEDIA

By | 2018 Newsletter Week 12&13 | No Comments

Italian Anti-trust authority says two ferry companies hindered competition

Italian Anti-Trust Authority has fined two Onorato Group companies, Moby and Tirrenia, for abusing their dominant position in Sardinia, writes Infomarine.net.
The investigation followed a complaint filed by Trans-Isole, Grimaldi, Grendi and Lucianu.

Deltamarin For DFDS, OSK For MSC/Moby

By | 2018 Newsletter week 10 | No Comments

Deltamarin Ltd has signed a contract with Chinese Guangzhou Shipyard International Co, Ltd (GSI) for consultancy and engineering services for the DFDS ro-pax ferries.

DFDS originally signed a contract with OSK-ShipTech for the development of the outline concepts and tender documents, for both the ro-ro vessels now contracted at Jinling, and the ro-pax vessels contracted at GSI.

When MSC/GNV/Moby decided to order ferries at GSI too, DFDS said it wanted to prefer to have an advisor not involved in both projects.

The shipbuilding contract for two ro-pax ferries was signed on February 12 between DFDS and GSI. Both ro-pax ships are planned to be delivered in 2021.

The 4,500 lane metres, 600-pax ships will be deployed on one of the Baltic routes connecting Lithuania to either Sweden or Germany.

MSC & Moby sign a contract for 4+2+2 cruise ferries to be built in China

By | 2018 Newsletter Week 07 | No Comments

MSC Group and Onorato Armatori signed a contract with Guangzhou Shipyard International Co., Ltd (GSI) and China Shipbuilding Trading Co., Ltd (CSTC) for 4 large ro-pax ferries, with an option for another two + two.

GNV, an MSC Group company, will receive the delivery of the first and third vessel.
Onorato Armatori (Moby, Tirrenia..) will receive the second and fourth.
Additionally, the two companies will hold options for an additional two vessels each. The first vessel will come into service in 2020.

What do we know about these ferries?

  • Ro-pax ferry described by the companies as cruise ferry.
  • Passenger capacity of 2,500, with 534 cabins available.
  • Lane meter capacity of 3,765. (in combination with pax capacity quite impressive)
  • LNG-ready engines.
  • Designed by OSK-Shiptech.
  • First ready end of 2020.

Photo MSC Group

The official signing ceremony, which took place on February 11 at CSSC headquarters in Beijing, was attended by Mr Dong Qiang, chairman of CSSC, Mr Pierfrancesco Vago on behalf of MSC Group, Mr Achille Onorato of Onorato Armatori and ship owner, Mr Matteo Catani, CEO of GNV, Mr Han Guangde, chairman of GSI, as well as Mr LI Hongtao, general manager of CSTC.