The Grimaldi Group is preparing to sign a significant contract for the construction of nine new Ro-Pax ferries, likely with a Chinese shipyard. The deal, expected to be finalized by the end of 2024, is valued at around $1.5 billion. Emanuele Grimaldi, head of the group, announced this during the XXVI Euromed Convention in Athens, Greece.

Fleet Expansion and a $4.5 Billion Investment Plan

In the last two years, Grimaldi Group has taken delivery of seven vessels and currently has 21 more under construction, as part of an ongoing $3 billion investment plan. With this upcoming contract, the total investment in new ships will rise to $4.5 billion, further expanding their fleet and service capabilities.

Details of the New Ferries

The six new vessels for Grimaldi Euromed and Minoan Lines will be “methanol-ready” and equipped to carry 2,500 passengers, 300 cars, and 300 cabins, with 3,300 linear meters of garage space. The three ships for Finnlines will be ready for biofuels or methanol and will feature 5,400 linear meters of garage space, with room for 1,000 passengers and 300 cabins.

Strategic Deployment on Mediterranean and Baltic Routes

Two of the new ferries for Minoan Lines will operate on the Piraeus-Heraklion route, while four vessels for Grimaldi Euromed will be deployed in the Adriatic, serving routes from Ancona or Brindisi to Igoumenitsa, and in the Tyrrhenian Sea on routes like Livorno-Palermo or Naples-Palermo. The three ships for Finnlines will be used on the Travemunde-Helsinki route in the Baltic Sea. These new ships are expected to enter service by 2027.

Positive Financial Outlook Amid Challenges

Although Grimaldi indicated that the financial results for 2024 may not match the exceptional performance of the previous year—when the company posted nearly €500 million in net profit—the group is still expecting multimillion-dollar profits. Grimaldi Group’s revenues have reached €5 billion, with an equity ratio of 67.5% and net equity of approximately €6 billion. The fleet now exceeds 140 ships, positioning the company as a leader in the global shipping industry.

Future Challenges for the Shipping Sector

Emanuele Grimaldi, who also serves as president of the International Chamber of Shipping, highlighted three key challenges for the maritime industry: the impact of global trade protectionism, the increasing costs and complexities of decarbonizing shipping, and the need to address labor shortages by ensuring higher standards for crews.