Italy’s Grimaldi Group is to buy five ropaxes and two terminals from Spain’s biggest shipping company, Armas Trasmediterranea Group.
It is a significant move for the Neapolitan owner through a deal that includes the transfer of rights to operate between the Spanish mainland and the Balearic Islands.
The five ropaxes are currently deployed by Armas Trasmediterranea in the Spanish cabotage trades.
They are the 27,000-gt Ciudad de Palma (built 2007), Ciudad de Granada (built 2001), 22,150-gt Ciudad de Mahon (built 2000), 29,000-gt Volcan del Teide (built 2011) and 20,000-gt Volcan de Tijarafe (built 2008).
Grimaldi will then be able to operate the ships from Barcelona and Valencia on the mainland to the Balearic islands of Menorca, Mallorca and Ibiza.
It will also buy two terminals at the ports of Valencia and Barcelona, as well as offices and warehouses on Mallorca, Menorca and Ibiza.
The port terminals are presently operated under concession by Armas Trasmediterranea.
'Not a withdrawal'
The move marks a change in direction for the Spanish company, which was created in October 2017 after Naviera Armas bought ropax and freight ro-ro operator Trasmediterranea from the Acciona group in a deal worth more than $450m.
This established it as Spain's largest ropax company, operating more than 40 ships, mainly linking mainland Spain with the Balearic Islands, North Africa and the Canary Islands.
That could change following the memorandum of understanding signed between Grimaldi and Antonio Armas, president of Armas Trasmediterranea.
The two companies described the agreement as “a first step for a collaboration between the two groups".
“For our group, this is not a withdrawal from the routes to the Balearic Islands," Armas said.
“We will continue to carry out, in collaboration with such an important shipping group on the world stage, a large commercial activity that will allow us to offer our customers an extensive network of international maritime routes.”
Fruitful collaboration
The agreement lays “the foundation for a fruitful collaboration”, managing director Emanuele Grimaldi said.
“Upon completion of this operation, our group will extend its range of maritime services also to the Spanish domestic market, generating new synergies with the other connections we operate in the western Mediterranean,” he said.
Due diligence will be carried out, with the final transfer due to take place ahead of new operations scheduled to coincide with the summer season.
Grimaldi has been expanding its ropax operations in the Mediterranean.
It recently acquired the 29,400-gt Eurocargo Catania (built 2011) and 29,000-gt Eurocargo Sicilia (built 2009) for operation in its Malta Motorways of the Sea subsidiary.
The company is also transferring 10 conro vessels operated by subsidiary Atlantic Container Line to the Maltese flag.
