Grimaldi Group is one of Italy’s leading maritime and logistics companies based in the historic port of Naples, since 1947. This family-owned company is involved in the transport of cars, rolling cargo, containers and passengers.
In 2018, this shipping and logistics achieved revenues exceeding €3bn for the first time in its history, despite higher bunker fuel costs. Also, it had earnings before interest, tax, depreciation and amortization (EBITDA) of €537.1m.
The Grimaldi Group comprises several subsidiaries including Atlantic Container Line (ACL), Malta Motorways of the Sea (MMOS) Minoan Lines and Finnlines. As of 2018, the group operated 130 ships, of which 116 are directly owned. The fleet’s age averaged some 13 years (which is lower than the average for the industry).
The Grimaldi Group’s main focus is provision of maritime transport services including rolling cargo and containers between Northern Europe, the Mediterranean, the Baltic Sea, West Africa and Americas. It also offers passenger services within the Mediterranean and the Baltic Sea.
Grimaldi Group shipping services subsidiaries
Here is a quick look at some of its shipping subsidiaries:
Atlantic Container Line
ACL currently deploys the world’s largest, newest, most fuel-efficient and most environmentally friendly Ro/Ro-Containerships. These vessels can carry 3,800 TEU of containers, 34,000 sqm of high and heavy cargo and 1,300 cars each week in each direction across the Atlantic. ACL provides a portfolio of five weekly transatlantic sailings covering 16 ports in Northern Europe, the United States and Canada. In 2018, it achieved revenues of €325.4m, EBITDA €18.6m and Net result €-17.7m.
Grimaldi Deep Sea
This subsidiary’s core business is focused on the Atlantic trades: serving ports in North Europe, West Africa, North America and South America. Most of the Grimaldi-owned fleet is deployed on these routes. It includes a substantial number of Ro/Ro-Multipurpose Container Carriers (extremely flexible in carrying large volumes of cars, rolling cargo, containers, project and oversized cargo as well), and large Pure Car and Truck Carriers (PCTC). In 2018, it achieved revenues of €675m, EBITDA €114.5m and Net result €55.2m.
This network now operates as many as 35 ships with a total loading capacity of up to 120,000 cars or up to 100,000 linear meters of rolling cargo. They call at nearly forty ports ranging from Scandinavia to Turkey, stopping up to three times a week at the most important destinations and once a week at all the others. In 2018, it achieved revenues of €1.4 bln, EBITDA €142m and Net result €65m.
Finnlines runs a fleet of over 20 ships, specifically designed to operate all year round in the most severe Arctic weather conditions. The company’s sea transport services are concentrated in the Baltic and North Sea. In 2018, it achieved revenues of €595m, EBITDA €166.3m and Net result €95.1m.
Malta Motorways of the Seas (MMOS)
MMOS is a network of Ro/Ro services linking the island state of Malta, with a number of Mediterranean destinations. Regular services link the Maltese islands to the Italian ports of Civitavecchia, Catania, Salerno, Genoa and Livorno, plus the Libyan port of Tripoli/ Al Khoms. MMOS has a number of owned vessels registered under the Maltese Flag. In 2018, it achieved revenues of €32.2m, EBITDA €11.8m and Net result €2.8m.
Minoan Lines is the leading Ro/Ro-Passenger operator on the Greek domestic routes linking the mainland Greek port of Piraeus, with the city of Heraklion on the island of Crete. Minoan Lines operates a modern fleet of large Ro/Ro-Passenger ships. Revenue €94.1m, EBITDA €8.5m and Net result €-5.7m.
Port and logistics services
The Grimaldi Group operates port and logistics services in various countries worldwide; these include its own regional hub terminals in Europe. For instance in Italy, it operates in the ports of Civitavecchia, Salerno, Monfalcone and Palermo, and in Spain, out of the ports of Barcelona and Valencia. Elsewhere in Europe, it has terminals in the ports of Antwerp, Esbjerg and Cork. In addition, it operates such services in the African ports of Alexandria and Lagos.
It owns the Swedish port of Wallhamn, plus it operates with Hamburg Harbour and Logistic AG, the logistics terminal of Unikai Lagerei und Speditionsgesellschaft terminal. In Finland its Finnlines’ subsidiary Finnsteve operates terminals in the Finnish ports of Helsinki and Turku.
Most of these terminals offer logistics platforms, fitted with Pre-Delivery Inspection facilities and workshops. Currently, their aggregate operating surface is over 5 million square metres, but the main terminals are all expanding.
Grimaldi offers door-to-door logistics services for both containers and cars in several European countries, and in North America.
In addition, its subsidiary ACL owns a fleet of over 2,700 trailers for its North American operations. In Europe, the Group has created its own road transport logistics companies in the Italian, Irish and Scandinavian markets, to satisfy the specific demands of customers.
In response to the latest regulatory and technological innovations, the Grimaldi Group is investing installing scrubbers on most of its vessels. In addition, it has ordered 12 hybrid ‘Grimaldi Green 5th Generation’ (GG5G) Ro-Ro vessels, designed by Danish marine consultancy Knud E. Hansen.
But, the ship building contract has been won by China’s Jinling Shipyard, which has started construction of the first hybrid roll-on/roll-off freighter for Italian shipping company. It is expected the first of these freighters should be available from 2020 onwards for commercial operations.
The vessels will use traditional fossil fuels during operation at sea and battery power when in port. Each new vessel will measure 238 meters in length and have a beam of 34 meters. The 64,000-ton ships will be able to transport over 7,800 lane meters of rolling units, equivalent to approximately 500 trailers. Kongsberg Maritime will deliver power and hybrid systems for the ships, while Rolls-Royce will supply steering gears and propulsion.