The third ship in the Grendi Group fleet will be called Grendi Futura. The purchase of the Wedellsborg ship, already on charter to the company, which will be renamed Futura, was finalized by the Grendi Group through its subsidiary Nav.Co. Srl, a newly formed single vessel company based in Genoa and 51 percent owned by Grendi Trasporti Marittimi SpA and 49 percent owned by Finaval Srl.
The ship, whose technical management was entrusted to Francesco Russo’s K-Ships, flies the Italian flag and is leased on a bareboat basis to Team srl, a company wholly owned by the Grendi Group. It is used to transport containers and rolling stock between Marina di Carrara Terminal, Olbia, Cagliari and North Africa. Built in 2014 by Visentini Shipyard, it is 180 m long and 26 m wide, with a tonnage of 21,800 tons and carrying capacity of 11,585 tons.
Francesco Russo at SHIPPING ITALY explained that “K-Ships has signed a full management contract (ISM, technical and crew management) with Team Srl, a Grendi Group company, and will also oversee this stopover/basin in Genoa where, among other works, the ship’s livery will be renewed for the new owner. Personally, as CEO of K-Ships, I am extremely proud and motivated to join the Musso family in this return to direct ownership and firmly convinced in an affinity of purpose and corporate DNA.”
The ship purchase transaction was coordinated for the Grendi Group by finance director Sabrina Passione, who handled relations between the parties, financing institutions, and consultants. Broker of the transaction Carlo Kahja of Banchero and Costa, who also served as financial advisor to Nav.Co Srl with Francesco Fuselli and Enrico Zezzo. The firm Bonelli Erede with Enrico Vergani was the legal advisor to the financing banks. Attorney Riccardo Salvini with Scp Law Firm assisted Grendi Trasporti Marittimi S.p.A. and subsidiary Team S.r.l. and then with attorney Ruscelloni and notary public Riccardo Dogliotti of Genoa, NavCo in the purchase process.
The total value of the transaction,” the Group informs in its note, “is about 34 million euros and 70 percent of the amount was financed by Crédit Agricole Italia as agent bank and Banca Popolare di Sondrio.
Since April 22, the ship has been in the Genoa dock for all necessary maintenance activities and livery change. The ship’s port of registry changes from Bari to Cagliari.
“With this transaction, Grendi Group returns as a direct shipowner, confirming the company’s long-term commitment to constantly improve its range of connections and services. Grendi Futura will be deployed on both domestic routes on Sardinia and international routes to North Africa,” commented Antonio Musso, managing director of Grendi Trasporti Marittimi.
Credits: shippingitaly.it
