Grimaldi Group Affirms Greek Ports’ Importance, Unveils Minoan Lines Fleet Expansion

Photo source: Grimaldi Group

The Naples-based private shipping company Grimaldi Group regards two ports in Greece as strategically significant, according to the group’s President and CEO, Emanuele Grimaldi.

During a press conference held on the sidelines of the Group’s XXVI Euromed Convention, titled “From Land to Sea”, in Athens, Grimaldi underscored the vital roles of the ports of Igoumenitsa and Heraklion, as well as the Minoan Lines shipping brand, in the company’s operations. It is reminded that the Grimaldi Group owns Minoan lines and holds a majority stake (67 percent) in the ports of Igoumenitsa, in northwestern Greece and Heraklion, on the island of Crete.

The convention, which took place from October 10 to 13, gathered international stakeholders in shipping, attracting around 800 top executives from finance, logistics, and port operations, representing countries such as Australia, China, New Zealand, Saudi Arabia, South Korea, and the United Arab Emirates.

“These investments are of strategic importance for the Group, and we place great emphasis on their development,” Grimaldi said referring to the ports of Igoumenitsa and Heraklion during the press conference.

“That is why I chose to assume the presidency at the port of Heraklion, while my son, Guido, oversees the port of Igoumenitsa. Our goal is for these two ports to evolve and serve as models of viability.”

Grimaldi’s plans include upgrading Igoumenitsa port’s role as a hub for coastal shipping, focusing on both passenger ferries and commercial traffic, particularly for trucks. Additionally, Heraklion port will undergo infrastructure enhancements to better accommodate vehicle traffic and cruise ships.

New investments, Minoan Lines fleet enhancements

Grimaldi Group President and CEO Emanuele Grimaldi.

During the press conference, Emanuele Grimaldi, head of the Italian shipping giant, unveiled the Group’s investment plan, which focuses on acquiring new vessels to further reduce the average age of its fleet. Currently, the Group’s ships are already 40% younger than the global average for roll-on/roll-off (ro-ro) fleets.

Grimaldi highlighted that seven new vessels have been delivered over the past two years, with 20 additional ships under construction. Among these are 17 9,000 CEU (Car Equivalent Units) Pure Car and Truck Carriers (PCTCs), specifically designed to transport electric and conventional vehicles, as well as various types of rolling cargo. He emphasized that all new PCTCs will be ‘Ammonia Ready’ and certified by the Italian Shipping Register, RINA, allowing them to utilize ammonia as a propulsion fuel in the future.

By the end of 2024, the Grimaldi Group plans to order nine new ro-pax vessels, with a total investment of $1 billion, aimed at transporting goods and passengers in the Mediterranean and the Baltic Sea. Two of these new ro-pax ships will serve the Piraeus–Heraklion route for Minoan Lines.

“These ships will be more efficient and environmentally friendly than our current fleet. They will also have the capacity to carry 50% more passengers in cabins,” Grimaldi stated.

Specifically, the new ships will feature 300 cabins instead of the current 200 and will transport 3,000 passengers compared to 2,000. Additionally, vehicle capacity will increase from 200 to 300.

“Practically, this means a 50% increase in capacity with reduced emissions, establishing a model of efficiency and sustainability,” he underscored.

Photo source: Grimaldi Group

Grimaldi Group expands operations

In addition to its interests in the two Greek ports, the Grimaldi Group recently completed the acquisition of 100% of Terminal Darsena Toscana in Livorno. Last year, the Group also invested in a concession for the Amsterdam multipurpose terminal.

Furthermore, three new shipping agencies have been established in the ports of Brindisi, Amsterdam, and Shanghai. The Group has also taken control of the Niels Winter Agency in Denmark and increased its stakes in Grimaldi France, Grimaldi Maroc, and Grimaldi Côte d’Ivoire.

“Our results speak for themselves: today, our fleet of 140 vessels operates around the world, seamlessly integrated with the services provided by our fully owned terminals, creating a perfect supply chain,” Grimaldi concluded.