NEWS 53. Network expansion southward. New services to Africa QUARTERLY PUBLICATION OF THE GRIMALDI GROUP

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1 G r imaldi NEWS 53 QUARTERLY PUBLICATION OF THE GRIMALDI GROUP January/ March 2011 New services to Africa Terminal in Benin Tariffa Regime Libero: Poste Italiane SpA - Spedizione in Abbonamento Postale - 70% - DCB Napoli Network expansion southward

2 Xxxxxxxxxxx Editorial Contents 3 New line between Livorno, and Tangiers 4 New MEX Service Congo delivered Rouen call for the Eurocargo Service 6 XIV Euro-Med Convention 8 Achievements 10 New terminal in Cotonou 11 Malta welcomes the Eurocargo Malta Welcoming ceremony on board Cameroon 12 New Minoan Lines offices in Igoumenitsa Grimaldi takes the Cyprus Rally onboard 13 News 14 Agent List 15 Schedules - Mediterranean Short Sea Network - Finnlines (Baltic & North Sea) - Atlantic Network - ACL - Euro Med Network G r imaldi NE WS Direttore Responsabile / Editor in Chief Luciano Bosso Progetto grafico /Graphic design Marco Di Lorenzo Pubblicazione trimestrale Quarterly publication Reg. Trib. Napoli n del 26/9/2000 Stampa / Print: ROSSI srl - Nola (Napoli) Circulation 34,500 copies Printed on 24 January 2011 GRIMALDI GROUP Via Marchese Campodisola, 13 2 GNE WS80133 NAPOLI (Italy) Grimaldi News can be seen on line on The courage of our convictions It is an old truism of the shipping world that there is no better time to invest than at the bottom of the cycle, though it perhaps is no coincidence that this also the moment when making such a commitment is most daunting. Looking around the shipping world today, it is no surprise to find that most shipowners are still huddled defensively in their cabins waiting for the storm to pass. More than two years after the collapse of Lehman Brothers triggered the global economic crisis, the industry is still scanning the horizon for consistent growth and a return of confidence in sovereign debt markets that might settle the minds of consumers and markets alike. Here at Grimaldi, however, we continue to carve our own path through the waves, consistent with Schumpeter s famous economic theory of creative destruction, which foresees the destruction of marginal or inefficient assets and the liberation of resources for investment in innovation and efficiency. As you will read in this edition of Grimaldi News, we have invested heavily once again over the last year, and in almost every facet of the business. In that time, we have welcomed a string of new ships to the fleet and this year there is more to come. Only in November, we took delivery of the multipurpose ro-ro vessel Congo, the third of five such ships due from South Korea s Hyundai Mipo. The vessel, which has capacity for 2,000 cars, 2,000 lm of rolling cargo and 800 teu, is already in service between Europe and West Africa. Meanwhile, other deliveries have been rolling in across the Grimaldi universe, from Minoan s Cruise Olympia last summer to the first of the Eurocargo-type ships. As for this year, Finnlines will also have a busy time of it, taking delivery of the first two of six giant new ro-ros at the end of the first quarter and two more by year-end. Meanwhile, ACL is plotting the renewal of its fleet of five con-ros. Newbuildings aside, we have also added to our network of services. In the last quarter of 2010, we launched our Mediterranean Express service, a revival of a historic route for the company between the Mediterranean and West Africa. We also launched a new line for passengers and freight between Livorno, and Tangiers that reflects our belief in the huge potential of the North African market. For other companies, other routes. So Finnlines has substantially expanded its connections through St Petersburg, linking the fast-growing Russian market to Helsinki, Antwerp and Bilbao. The Lithuanian port of Ventspils has also been added to the network served by our Finnish subsidiary. From these ports, our clients can also access far-flung markets across the globe via other Grimaldi-controlled companies in the Grimaldi family, particularly in Europe, Africa and the Americas. Our terminal business has also seen investment, the fruit of imaginative strategic planning. In November, we opened a dedicated ro-ro terminal in the port of Cotonou (Benin), a reflection of rising demand for our services in West Africa and our belief in the region s long-term prospects. Belief is at the heart of what we do at Grimaldi. We believe we have a well-founded strategic vision, a portfolio of first-class companies run by talented, experienced managers, and the courage to reinvest our profits where we see an opportunity, even at the bottom of the cycle. All this is perhaps most evident in the quality of our fleet, in which we have continued to invest through the downturn. Of course, buying new ships and scrapping old ones has an impact far beyond the bottom line. Consonant with our belief in the need to be good citizens as well as good entrepreneurs, we are pledged to the construction of a fleet that is young, efficient and environmentally sustainable. That commitment is also reflected in our investment in new technology. The eight ro-pax vessels and cruise ferries we are currently repainting with silicone paint, for instance, will benefit both our financial performance and the quality of our sea and air, reducing our fuel consumption for a substantial environmental gain.

3 Mediterranean routes New line between Livorno, and Tangiers Tangiers Barcelona Venice Genoa Ancona Livorno Civitavecchia Salerno Porto Torres Cagliari Corfu Palermo Trapani Catania Tunis Malta Tripoli / Al Khoms Igoumenitsa Corinth Patras Piraeus Heraklion Grimaldi has extended its maritime services for passengers and freight in the Western Mediterranean with its first service to Morocco, on the Livorno-- Tangiers route, launched on the 20 th of November. With a weekly frequency, the new line is operated by the Ikarus Palace, a modern and fast ro/pax ferry with a 200-metre length and 26 metre beam. The vessel is able to accommodate 1,500 passengers in 200 cabins and 180 comfortable reclining seats, and can transport up to 160 units of trucks and trailers and her service speed of 26 knots allows to connect Italy and Spain to Morocco with a very competitive transit time. Moreover, it is also possible to reach Morocco from Salerno, Cagliari (Sardinia), Catania and Palermo (Sicily) and Malta via Livorno or. Thanks to the many facilities on board, the Ikarus Palace guarantees an enjoyable voyage both for tourists and for Moroccans travelling to and from Spain and Italy. Apart from the comfortable cabins, she has à la carte and selfservice restaurants, a swimming pool and solarium, children s play area, plus a disco and slot machines for evening entertainment. This new maritime service establishes an innovative sea link between Italy, Spain and Morocco, and is intended to provide support for the expanding trade relations between North Africa and the Western Mediterranean. It also provides both tourists and the large Moroccan The m/v Ikarus Palace communities resident in Italy and Spain with a new opportunity to travel to this part of Maghreb, said Grimaldi Group Managing Director Emanuele Grimaldi. Through the deployment of the Ikarus Palace we are not only offering a quality service, but also making a major contribution to environmental sustainability and energy saving by shifting a considerable number of trucks and cars from the congested European motorways to this new Motorway of the Sea. GNE WS 3

4 Atlantic route New service between the Mediterranean and West Africa Starting from the 26h October 2010 the Grimaldi Group recommenced connecting the Mediterranean with West Africa with the new Mediterranean Express service (MEX). This route is not new to Grimaldi, as the Group had been serving it continuously from the mid 70 s until The new line, dedicated to the transport of rolling freight, containers and project cargo, directly links the ports of Salerno, Genoa, Marseilles and with the ports of Dakar (Senegal), Lome (Togo), Lagos (Nigeria) and Cotonou (Benin) every 18 days. The con/ro vessel currently deployed on this route is the m/v di Roma, which is joined by the m/v Medcoa Lome, operated by the French shipping company Navitrans. Both companies have made a space share agreement, which guarantees space on each vessel for freight booked by the other operator. The di Roma, with a gross tonnage of 42,000 tonnes and a length of 216 metres, is able to transport up to 650 TEU, 1,100 cars/vans and 2,200 linear metres of rolling cargo at a speed of 18 knots. The class vessel is also equipped with two cranes on the weather deck capable of handling up to 40 tonnes and a stern ramp capable of loading units up to 150 tonnes of freight. With the new MEX service, the Grimaldi Group aims to further strengthen its presence both in the Mediterranean and West Africa, offering its customers not only a direct service between these two geo- The new line is dedicated to the transport of rolling cargo, containers and project cargo Dakar 4 GNE WS

5 Fleet developement Marseilles Genoa Salerno Congo delivered The unit upgrades the Group s North Europe - West Africa service Lome Lagos Cotonou MEX Service graphical areas, but also several transhipment opportunities, via Salerno and, taking advantage of the various Grimaldi connections to and from the Eastern Mediterranean. Moreover, the Group links, with very competitive transit times, the whole Mediterranean with other ports of Africa thanks to its regular services from its Dakar terminal. Ports served in transhipment are Banjul (Gambia), Conakry (Guinea), Freetown (Sierra Leone), Monrovia (Liberia), Abidjan (Ivory Coast), Tema (Ghana), Douala (Cameroon), Boma (Republic of Congo), Pointe Noire (Congo-Brazzaville) and Luanda (Angola). On the 4 th of November the multipurpose ro/ro vessel Congo was delivered to the Group by the Hyundai Mipo shipyards. The vessel was launched on the 14 th of July and is the third in a series of five multipurpose roro sister vessels ordered by the Grimaldi Group from the Korean shipyard. As her sistership Marocco, the newbuilding has a length of metres, a width of metres, and a gross tonnage of 47,300 tonnes. With a service speed of 20 knots, the Congo has an ideal cargo intake of 2,000 cars/vans, 2,000 linear metres of Rouen call for the Eurocargo Service rolling freight and 800 TEU, offering the maximum flexibilty in terms of intake capacity and type of cargo loaded. Furthermore, the vessel can lift containers and general cargo up to 40 tonnes with her two cranes set on the weather deck. Immediately after her delivery, the Congo was deployed on the Lisbon Express Service, connecting Portugal with West Africa, and the Southern Express Service, directly linking various North European ports with Casablanca, Dakar, Lome, Luanda, Pointe Noire and and Douala. In order to better serve the French market, as from last 28 th of October the port of Rouen has been introduced as a port of call on the Eurocargo Service, one of the four different liner services offered by the Group between North Europe and West Africa. The Eurocargo Service operates on a eighteen-day frequency connecting the Northern European ports of Tilbury, Hamburg, Le Havre, Antwerp and Rouen directly with the West African ports of Dakar, Banjul, Monrovia, Libreville and Boma. The two vessels deployed on this service are the multipurpose ro-ro vessels Eurocargo Europa and Eurocargo Africa, which, with a length of 180 metres and a gross tonnage of 33,650 metres, are able to load 2,000 linear metres of rolling cargo and 400 TEU. Agent of the Group in Rouen is Grimaldi ACL France Agency. GNE WS 5

6 The 14th edition of the Euro-Med Convention From Land to Sea, which the Grimaldi Group organises annually, was held from 6 to 9 October on board the ferry Cruise Olympia en route from Ancona to Patras. Over 400 delegates attended the event. They included representatives from Italian and European institutions, port authorities, logistics and transport operators, shipping industry professionals, as well as national and international journalists. Speakers at the convention chaired by Alfons Guinier, Secretary General of ECSA (European Community Shipowners Associations) were Luciano Canepa, Chairman of the Ancona Port Authority; Tommaso Affinita, CEO of RAM (Rete Autostrade Mediterranee); Simon Bird, Chairman of The Bristol Port Authority; Konstantinos Platikostas, Chairman of the Patras Authority; Andrea Annunziata, Chairman of the Salerno Port Authority; Stavros Hatzakos, Administrative Director of the Piraeus Port Authority; and Recai Isiktas, Logistics Manager of Ford Otosan. In his speech Emanuele Grimaldi, Managing Director of the Grimaldi Group, picked up arguments put forward at the previous year s edition regarding Schumpeter s theory of creative destruction, which, applied to shipping, suggests that this process is a driving force behind innovation, technological advance and economic growth resulting in improved quality of life. According to a study carried out by Clarkson, between the end of 2008 and mid-2010 the global Ro-Ro fleet decreased from 10.3 million to 9.8 million dwt. However, Mr Grimaldi added, there s more room in the sector for further scrapping of ships. In the context of the process of destruction, optimisation and creation of Schumpeter s business cycle, our Group was initially a spectator and then a leading player. Even though our fleet is young the average age of our vessels is 10 years, compared to 20 years for the global fleet our renewal The Cruise Olympia hosts the XIV Euro-Med Convention The annual event organised by the Group gathered over 400 delegates from different countries Best Agents of the Year During the Convention three Italian partners of the Group were awarded as Best Agents of the Year of the Euro-Med Network: Grimaldi Palermo, Marangolo Shipping Agency (Catania) and Team Shipping Agency (Venice). The agencies were selected for their support to the commercial and operational activities of the Group in 2010, their customer-oriented attitude and the efficiency shown in promoting Grimaldi s activities in their respective areas of competence. 6 GNE WS

7 Xxxxxxxxxxx policy has meant that many of our ships have been scrapped while some 10 new vessels have started operating for us in the last 12 months. Thanks to the resulting fall in consumption, we have achieved better economic results and enhanced environmental performance. By way of example, work continues in the Hyundai Mipo shipyard in Korea on the construction of 8 state-of-theart Ro-Ro vessels, which cut emissions from 2,500 kg of CO2/ton per km sailed (the figure for the previous generation of Ro-Ro vessels) to 700 kg. Thanks also to improved routes, operations and fleet rationalisation, the Group has also achieved excellent results insofar as its ships have carried 10% more traffic with no increase in fuel consumption. At the same time, Mr Grimaldi stressed that the 0.1% cap on sulphur content of fuel oil to be introduced under Marpol Annex VI could impair the development of shipping and favour a return to road transport. According to Mr Grimaldi a more realistic maximum limit of 0.5% sulphur content should be the proper alternative. Mr Grimaldi also announced the opening by the Group of new services: Livorno--Tangiers, the first maritime link between Italy, Spain and Morocco; Livorno-Catania-Malta, so that shippers can use the Maltese hub to provide connections to Greece and Lybia; and the new deep sea Mediterranean Express Service, between the Mediterranean and West Africa. Among other issues raised for discussion was the Ecobonus. Tommaso Affinita argued that this incentive scheme deserves fresh funding insofar as it has already produced important results, underlining that the EU is considering extending it throughout Europe. The role played by the ports in helping shift cargo from land-based networks to shipping was mentioned and discussed by the various Port Authorities participating: Andrea Annunziata illustrated the projects underway in Salerno to develop the Motorways of the Sea both logistically and otherwise, while Luciano Canepa, Chairman of the Ancona Port Authority, affirmed the efforts made to reduce pollution and the use of alternative energy sources, affirming that Ancona has adopted the motto from land to sea. Mr Hatzakos presented the Piraeus Port modernisation plan while Mr Platikostas underlined the strategic objectives for the coming years, such as the strengthening of the role of Patras as the Western gateway from Greece and the Balkans to Italy and Western Europe. Finally, Mr Bird focused on the huge potential for fuel and corresponding CO2 savings in sea transportation from Spain and Portugal to the UK, while Mr Isiktas highlighted the importance of short sea shipping- based logistics for Ford Otosan, particularly for the company s exports to Europe and the Mediterranean. From left to right: Tommaso Affinita, Andrea Annunziata, Simon Bird, Luciano Canepa, Alfons Guinier, Stavros Hatzakos, Recai Isiktas, Konstantinos Platikostas, Emanuele Grimaldi GNE WS 7

8 Achievements The Group receives Lloyd s List Italian Shipping Award During the recent Lloyd s List Italian 2010 Shipping Awards the Grimaldi Group was presented the Cruise or Ferry operator of the year award. The prestigious awards were sponsored by the daily London newspaper, Lloyd s List, the oldest maritime publication in the world and were supported and coordinated by the specialised magazine Ship2Shore. Prizes were awarded to 16 Italian operators for different catagories. The ceremony which was the second of its type (the first being held in Naples in 2008), took place on the 21 st of October at the maritime station of the Port of Genoa. The award was received by Guido Grimaldi, son of Emanuele Grimaldi and commercial manager of the Group s Short Sea department. The judges, made up of ten important personalities in the maritime world, including the President of Confitarma (the Italian Shipowners Association), Mr. Paolo d Amico, presented the Grimaldi Group with the award for the investments made in recent years, particularly for the development of its fleet and the acquisition of the ferry operators Minoan Lines and Finnlines. Guido Grimaldi receiving the award from Aldo Frulio, Chairman of Unitramp Shipbrokers 8 GNE WS

9 Achievements Best Line award to Grimaldi Portugal for the 2 nd year in a row For the second consecutive year Grimaldi Portugal was awarded by the local magazine Transportes & Negocios as Best Line Portugal-Africa for The award was received by the local commercial manager Mario Pinto during a gala dinner held on the 25 th of November at Leixões. This award, directly voted for by the Portuguese shippers and forwarders, demonstrates not only the importance that Portugal gives to the African market, but also the continuous improvement of the Grimaldi Group s Southern Express Service during 2010, where the progressive deployment of new buildings has allowed ever better frequency and transit time. The Campania Region awards Grimaldi In a ceremony held last 4th of November at the Teatro Sannazzaro of Naples, Inarme (Industria Armamento Meridionale), a company of the Grimaldi Group, received the Campania Award 2010 in the "value-makers" category. The Campania Awards are dedicated to the excellent companies of the Campania Region which, even in time of crisis, build successful stories and represent positively the Region in Italy and abroad." In particular, the company Inarme was awarded for having achieved the best performance of the financial statement in Moreover, the Grimaldi Group won also the Golden Lion, the award realised in collaboration with Nielsen and assigned to the companies that have better invested in communication. Representing the Group at the ceremony was Advertising Manager Ing. Mariano Baldissara whom the awards were handed over to. GNE WS 9

10 Atlantic network The Group opens a dedicated terminal in Cotonou With a total surface of 42,000 sqm, the terminal has a current capacity of 2,400 units between cars and vans, which will become 2,800 in May 2011 In the framework of its expansion in the African Continent, the Grimaldi Group has inaugurated a new dedicated Ro- Ro terminal located in the port of Cotonou (Benin) in a joint venture with Beninese interests. Launched last 5 th of November, the terminal has a total surface of 42,000 sqm, of which 36,000 sqm are already developed and exploitable, and boasts a direct access to the road network. The terminal s current capacity is of 2,400 units, between cars and vans, which will become 2,800 units in May It offers stevedoring activities to all the Grimaldi vessels calling at Cotonou and handles new and used cars, besides rolling cargo. Up to 2,500 vehicles can be received every day which are transferred to sales parks, with a current productivity of 100 vehicles handled per hour. The new terminal offers several top quality services such as the electronic tally system linked to manifests, to the London operations department and the vessel system, finalised to fully match and satisfy all customers. In particular, the vessel system allows the tracking of vehicles discharged at any time, with the possibility to work 24 hours a day: this is an additional advantage since the difficult conditions of the country do not allow any carriers to discharge vehicles during the night. Moreover, the security of the discharged vehicles has been increased thanks to a last generation camera system positioned both on the quay and on the terminal. The port of Cotonou is one of the ports called by the Grimaldi regular services linking North America and North Europe with over 20 ports of West Africa: the Group has further strengthened its presence on the Atlantic routes not only through new maritime services but also through the landside logistics and car storage facilities operating in the main port areas, the last new terminal being the one in Benin. 10 GNE WS

11 Events Malta welcomes the Eurocargo Malta On the occasion of the deployment of the Eurocargo Malta, on the 23 rd of September a ceremony was held to present and welcome the Grimaldi Group s newsbuilding at La Valletta, Malta. Guido Grimaldi, commercial manager of the Group s Short Sea Department, opened the ceremony describing the new vessel named after the State of Malta, as a demonstration of the commitment of the Group to the development of transport and mobility to and from this country. The Eurocargo Malta together with her sistership Eurocargo Genova represent the state-of-the art in the ro-ro industry. Guido Grimaldi with Austin Gatt said Guido Grimaldi. Thanks to their 4,000 linear metres intake each, they double the cargo capacity on the lines between La Valletta, Catania, Genoa, Livorno, and also Libya, calling at the ports of Tripoli and Al Khoms, increasing at the same time the efficiency and the speed. Malta is today even more of a hub in our network and it is our aim to strengthen our commitment to improve maritime transport and mobility to and from this country with the rest of the European Union and the neighbouring Northern African nations. The event was attended among others by the Maltese Minister of Transport Austin Gatt, the Ambassador of Italy in Malta Efisio Luigi Marras, the President of the Malta Chamber of Commerce Helga Elull and the local media. Welcoming ceremony on board Cameroon On the occasion of her second call at Douala on the 23 rd of September, a welcome ceremony was held on board the m/vessel Cameroon. The Secretary General of the Cameroonese Ministry of Transport Soh Jean Pierre and the Governor of the region, Fai Yengo Francis, were received on board, together with many customers and local authorities, by the Owner s Representative Ivan Tessitore and Bernard Shortt, Deep Sea Lines manager director. In his opening speech Mr Soh thanked the Grimaldi Group for the honour of having a vessel with the name of the country, underlining that the Cameroon is part of an almost new fleet of vessels calling at Douala, providing a significant improvement for the trade and the general competitiveness of the country. Mr Ivan Tessitore underlined that the Grimaldi Group has been calling at the port of Douala for over twenty years, and that with the launch of the Cameroon, Grimaldi honors the long standing relationship that we have with Cameroon. We are glad that she will sail the world as a symbol of this relationship. The Cameroon, built at the Uljanik shipyards of Pula (Croatia) in 2010, is currently deployed on the Southern Express service, linking North Europe to various West African ports; recently the frequency of this service has been improved to every 12 days. The unit has a gross tonnage of 50,000 tonnes, and, with an ideal intake of 2,000 cars/vans, 2,000 linear metres of heavy Ro-Ro units and 800 TEU it is an example of the flexibility and fast transit time provided by Grimaldi vessels. GNE WS 11

12 Mediterranean trade New Minoan Lines offices in Igoumenitsa On the 7 th of October Minoan Lines, a company of the Grimaldi Group, inaugurated its new office in the port of Igoumenitsa, in the northwestern part of Greece. Situated at the Passenger Terminal of the port, it has a surface of 60 square metres and employs a staff of eight experienced persons, headed by Mr. Theodore Makris. The new Minoan Lines office acts as a maritime agency, managing the booking and ticket issue for passengers, cars and rolling cargo. It cooperates with the local Port Authority and acts as supervisor for the safe passenger and vehicle embarkation and disembarkation to and from the Minoan Lines regularly calling the port. Furthermore, the agency acts as a commercial promoter, both for passengers and freight, in the Northern regions of Greece. The decision of Minoan Lines to open its own offices in Igoumenitsa is due to the rapid traffic growth that this port has been experiencing in recent years, especially following the opening of the Egnatia motorway linking the city of Igoumenitsa to the Greek-Turkish border. This new road link is the most efficient gateway for passengers and rolling freight moving between Italy, the Balkans and Turkey. Minoan Lines regularly links Igoumenitsa to Italy through their daily service to Ancona and the four-times-a-week service to Venice; furthermore, the port of Igoumenitsa is connected with the Greek ports of Patras and Corfu. Grimaldi takes onboard the Cyprus Rally From the 4th to the 6th of November the Cyprus Rally, part of the IRC (Intercontinental Rally Challenge) Circuit took place on this Island of the Eastern Mediterranean. The Grimaldi Group contributed to the organisation of the event by transporting various team rally cars from Venice to Limassol, through its Adriatic weekly ro/ro and container service linking the Upper Adriatic to various Eastern Mediterranean ports. On the 23 rd of October 11 motodromes containing rally cars and their mobile machine shops were loaded onboard the m/vessel Eurocargo. The rally cars belonged to the teams of Munaretto Racing, All Sports Management, Sthol Racing, Koyo Ltd and Jipo Car (whose driver Martin Prokop classified 4 th and was also elected in 2009 World Junior Champion ). In addition to the rally cars, Grimaldi transported also some vehicles of the television channel Eurosport, the official TV of the Rally. After the conclusion of the race, the units were loaded on the 11 th of November onboard the m/vessel Fides and safely shipped back to Venice. 12 GNE WS

13 Railway wagon shipped to Salerno A railway wagon was recently loaded onboard the m/v Gran Bretagna on the Euromed service route from the port of Southampton to Salerno. The unit had a length of 24.3 metres, a width of 2.7 metres and a height of 4 metres and weighed 67 tonnes. The wagon was delivered to Southampton on a special truck used for abnormal loads and was lifted off the truck by two cranes and placed on one of the Line s 80ft mafis. Drilling rig transported by Plate Logistics from China to Argentina Plate Logistics SA, the logistics and forwarding company of the Grimaldi Group strengthens its presence in the Argentinean market: the company has recently moved a drilling rig of the Chinese company Sinopec International Petroleum Services involving 7,400 m³ of cargo transported by land from Zarate and delivered at a mine site in the vicinity of the city of Mendoza, about 1,200 km west from Buenos Aires. The successful execution of this shipment, and other similar ones, shows the expertise developed by Plate Logistics` staff in the project cargo field. A 57-metre transformer from Naples to Genoa On the 22 nd of October Grimaldi shipped a large transformer on the Catania-Genoa short sea service. The shipper was the Italian company Fagioli, specialized in the heavy transport business. The transformer had a length of 57.5 metres, a height of 4.2 metres, a width of 4.5 metres and a weight of 238 tonnes. The unit was loaded during a special call at the port of Naples by the m/vessel Eurocargo Malta which then proceeded, without any changes to its schedule, to the port of Genoa, where the special cargo was discharged. The Best Creation Prize awarded to Minoan lines With a brand new appealing exhibition kiosk, Minoan Lines participated at the 26 th International Tourism Fair Philoxenia 2010, which was held from 18 th to 21 st November 2010 in Thessaloniki. In the impressive exhibition section of its highly modern kiosk, which highlights the company s philosophy of professionalism and creativity, Minoan Lines welcomed travel agents from all over Greece, furthermore the company was honoured to receive the prize of Best Creation, awarded by Philoxenia 2010, for the unique, innovative construction and the functionally effective and aesthetically pleasing design of its exhibition kiosk which received glowing comments from many of the visitors. During the trade fair, representatives of the tourism industry from Greece and abroad had the opportunity to visit Minoan Lines stand and be informed of the itineraries and the commercial politics applied to the domestic and international lines, for the upcoming season of NEWS GNE WS13

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