Two Companies For The Melilla Public Service Contracts

By | 2021 Newsletter week 7 | No Comments

Two Companies For The Melilla Public Service Contracts

The authorities of the Spanish enclave of Melilla have awarded two public service ferry contracts (Obligación de Servicio Público). These contracts start on April 1 and last for one year.

Trasmediterranea will operate the ropax ferry service between Melilla and Malaga.

(6 round trips per week / budget of €3.9million)

Balearia has received the contract for the lines to Almeria and Motril.

(each 3 round trips per week / budget €7.5million)

This will be the first time that two different companies will operate the public service contract between the Spanish city in North Africa and the Iberian Peninsula.

Until now Trasmediterránea had always won the contests with Malaga and Almería. It will also be the first time that the route with Motril is included as a public service obligation.

Balearia will use the 2019-built HYPATIA DE ALEJANDRIA.

Trasmediterranea continues to operate the route with CIUDAD AUTÓNOMA MELILLA.

Trasmediterránea Rescued with an Injection of 340 million

By | 2021 Newsletter week 2 | No Comments

Naviera Armas, owner of Trasmediterránea, has closed an agreement with its main financial creditors (Barings, Bain Capital, Cheyne Capital and JPMorgan) to convert a total of 240 million euros in debt into capital and, in addition, receive a liquidity injection of up to 100 million euros through a bridge loan, according to Expansión.

To save the current economic situation, the Armas family intends to contribute 40 million with the sale of the (fast ferry) ship VILLA DE TENOR. In this way, Armas will be able to maintain control of the group’s rights.

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.


By | 2020 Newsletter week 17 | No Comments

Space Charter Agreement between Trasmediterranea and Balearia for Ceuta Route

The ferry PASSIÓ PER FORMENTERA is the only ship that transports cargo between Spain and Ceuta, since Tuesday, April 21.

A space charter agreement between Baleària and Trasmediterránea leaves only one single ship on the Ceuta route.

The article says that this arrangement does not comply with the terms of the public service contract.


By | 2020 Newsletter week 12 | No Comments

Following indications from the Government of Spain and the competent authorities, Trasmediterranea advises not to travel, except for unavoidable reasons, from 16 March  for a period of 15 days.

Since March 13, all passenger departures to and from the ports of Nador, Al Hoceima and Tangier are cancelled until further notice.

Loaded vehicle traffic (including drivers) will continue to operate normally.

Italian Fleet Movements

By | 2019 Newsletter week 50 | No Comments

Grimaldi Group of Italy took delivery of the former Ciudad De Cadiz, the ropax just bought from Trasmediterranea (Naviera Armas group) and renamed Venezia. The price paid by the Naples-based group for this vessel is around €35 million.

The same Italian ferry company has also chartered in the roro Super-Fast Baleares from Trasmediterranea in order to replace the Eurocargo Trieste which caught fire three weeks ago off the port of Leghorn and is still under repair.

According to what Ship2Shore reported, also the ferry GNV Azzurra was chartered as accommodation vessel by Virgin Voyages for the crew which will be employed on the new cruise ship Lady Scarlett, soon to be delivered by Fincantieri’s Sestri Ponente shipyard.

New CEO for Trasmediterranea

By | 2019 newsletter week 19 | No Comments

Francisco Oviedo Raposo (Madrid, 1971) has been named CEO of Trasmediterranea, the centennial shipping company that has recently been acquired by Grupo Armas.

The new CEO has extensive experience in the sector and has been linked for more than twenty years to the maritime port sector. Oviedo has been director of Ports of OHL Concesiones during the last ten years and before CEO of Boluda Corporación Marítima.

He holds a degree in Economics and Business Administration and a master’s degree in Commercial Management and Marketing (ESIC). He has a solid background in finance and has led important investment and divestment processes, legal reorganization and refinancing in companies in the sector.