Grimaldi Lines acquires 32 new vessels for 2 billion euro

At the company's annual convention managing-director Emanuele Grimaldi disclosed the large order for new ro-ro vessels. Allalouf Group, Grimaldi's representative in Israel, dispatched 25 people to the convention
 
More than a decade ago, the Grimaldi shipping company launched a tradition that continues to this day - an annual convention held under the name EuroMed. Taking part are port directors, transport ministers, senior EU officials and many major customers. The 11th convention was held in Athens last week.
 
This year, 450 guests from 20 countries have participated. Heading the Israeli delegation was Ephraim Alter, managing director of Allalouf, which represents the Grimaldi group in Israel. Alter was joined by Grimaldi line managers and customers – senior managers from companies importing private, commercial, and industrial vehicles to Israel, as well as Shuki Sagis, manager of the Ashdod Port company, Amos Uzani, manager of Haifa Port company, and David Lasky, its deputy marketing manager.
 
Like every year, the main spotlight was directed at the Italian company's charismatic manager, Mr Emanuele Grimaldi, who disclosed Grimaldi's impressive plan to acquire 32 new vessels (16 ro-ro vessels, 12 multipurpose, and 4 cruise ferries) – an unprecedentedly huge investment in the field of ro-ro vessels, in excess of 2 billion Euro. The ships will be delivered during 2010-2011.
 
Mr. Grimaldi noted that since last year's convention in Naples, the company has acquired control of Finnlines, the leading shipping lines in the Baltic, as well as acquiring a 14% stake in the Greek shipping line Anek which operates mainly in the trade between Greece and Italy – making Grimaldi the chief primary shareholder.
 
In a special interview that Emanuele Grimaldi gave to Port2Port, he praised the close ties between the Grimaldi and Allalouf families, which began before Israel achieved its independence and have continued to this day. He said that the strong relationship between the Allalouf Group, the Grimaldi Group and Israel is also reflected at difficult times. Unlike other foreign shipping companies, Grimaldi has never stopped calling at Israel - even in wartime.
 
He also emphasised that the first ro-ro vessel that ever docked in Israel was a Grimaldi vessel that arrived in Ashdod port in 1967 as part of the new dedicated line for transporting cars between Trieste and Ashdod (cars had previously reached Israel in conventional cargo ships, suffering considerable damages during  loading and unloading).
 
As for the new acquisition plan, Mr. Grimaldi said: "We operate a total fleet of 125 vessels. The average life-cycle of each one is 25 years: if we divide 125 by 25, you can see that every year I must build four or five new ones. The immense backlog of orders at shipyards worldwide means a waiting time of four years until you receive the new vessel. In other words, I have to build 20 new vessels in the course of four years, just to maintain the existing level of service that our current fleet provides".
 
Regarding the Israeli market, he noted that in the not-too-distant future, Israeli and Egyptian markets may increase their utilization of ro-ro vessels for transporting agricultural cargo. As a result, Grimaldi is likely to obtain a slice of the action from operations currently performed mostly by refrigerated containers.
 
Grimaldi Groups' managing-director voiced criticism of the situation in the Israeli ports. "You have a problem with it. Israel's business sector has developed greatly. It is vital to continue developing Israeli ports accordingly".
 
He also promised that, once the new vessels are delivered and replace the older ones, the intention is to boost the service in the Adriatic Sea - which at the moment is provided by the vessels Spes and Fides - by upgrading the service with additional vessels which will benefit the Israeli market.
 
Ephraim Alter, Allalouf's managing-director, sums up: "The event provided a good opportunity to meet Grimaldi management, our colleagues – agents from all over the world - and also opportunities for spending time with customers and suppliers in an informal atmosphere. Altogether, it was highly contributory for our business."