The Grimaldi Group is on a road to post-Covid-19 recovery, boosted by its profitable container shipping division, according to managing director Emanuele Grimaldi.

Speaking at the 24th Euro-Med Convention in Valencia, Spain, on Friday, Grimaldi said the company is benefiting from the resurgence of container freight rates in the transatlantic trade.

"Now that the worst of the Covid crisis seems to be over, we can say that 2021 will be a good year," he said.

"ACL in particular, playing more in the container sector, will be the star of the year."

The stellar performance of ACL helped the Italian company recover from the Covid-19 crisis when cargo niches and passenger volumes were hit.

The Naples-based group has weathered the crisis without laying off any employee, he said.

That financial strength was reflected in the relentless newbuilding programme of the group.

In the past two years, 12 newbuildings joined the Grimaldi fleet and a further 20 will be delivered by 2025.

The executive said the newbuildings can halve emissions compared with previous-generation vessels.

"To put it into a context, in the last 10 years our fleet grew around 35%, but we still have an orderbook of 15% to phase in, for a cumulative €2bn [$2.31bn] expense for the Grimaldi Group," he said.

Technological turnaround

Beside the organic growth, Grimaldi Group acquired some assets of Spanish ferry operator Trasmediterranea from the Navieras Armas Group in spring 2021.

It also carried out a programme of retrofits, which included the application of environmentally friendly silicone paints and the installation of propulsion optimisation devices and exhaust gas cleaning systems.

"Today, more than ever, the maritime industry is called upon to develop and apply the most innovative technological solutions to reduce harmful emissions," Grimaldi said.

"The crisis we have experienced has taught us that the world is confidently awaiting a new normal. It is the responsibility of all of us to understand the changes and to facilitate the decarbonisation process of maritime transport."

He said the group has shown resilience over the past 18 months: "Despite the health and economic crisis and the total lack of state aid, we confirmed the investments planned for our fleet expansion and our proactive commitment to environmental sustainability."