The Italian Grimaldi Group has concluded an agreement with Intesa Sanpaolo for more than €160 million. The money will be used to purchase three new PCTCs.
The company announced that Intesa Sanpaolo – Italy’s largest credit institution – is providing a total of €162.3 million via its IMI Corporate & Investment Banking Division (IMI CIB). Grimaldi is using the funds to finance the purchase of three new PCTCs (Pure Car and Truck Carriers) for the Mediterranean ferry operator Grimaldi Euromed. The “Grande Egitto”, “Grande Pacifico” and “Grande Oceania” are due to be delivered this year.
“Grimaldi Euromed stands for excellence in the sustainable modernization of maritime shipping,” said Francesca Diviccaro, Head of Retail & Luxury. “As IMI CIB, we continue to support the company’s growth strategy. Intesa Sanpaolo has always been a pioneer in supporting companies in their strategic investments, driving innovation and the energy transition.”
Diego Pacella, CEO of Grimaldi Group, said: “The financing of the acquisition of the ‘Grande Egitto’, ‘Grande Pacifico’ and ‘Grande Oceania’ supports our sustainable growth strategy, of which fleet modernization is one of the most important and impactful pillars. This transaction also strengthens our long-standing partnership with Intesa Sanpaolo, which remains one of our most important banking partners.”
The newbuildings are three of a total of 17 new PCTC vessels that Grimaldi has ordered between 2022 and 2023 with a total investment of $1.6 billion. In addition to a large capacity of 9,800 CEU, they are to be characterized above all by a particularly low environmental impact. The ships, which are classified as “ammonia ready”, will be equipped with 5 MWh battery systems and 2,500 m² of solar panels. The ships will also be able to be supplied with shore power.
Intesa Sanpaolo is providing the financing in the form of a “Green Loan”. According to the bank, projects like this are being pursued as part of a comprehensive ESG strategy to support customers in the energy transition. A total of around €84.7 billion has been made available between 2021 and 2025 to promote the green economy.
The Grimaldi Group has ordered a total of 48 new ships between 2018 and 2025 for more than $5 billion. According to the company, it is also investing in the ecological modernization of its fleet and the expansion of ports and terminals in Europe and Africa. The collaboration with Intesa Sanpaolo is based on the “shared vision of sustainable development”, according to the shipping group.
