Italy's Ignazio Messina's financial plan for 2013 onwards is based on three pillars: cost cutting through the use of new, larger and more efficient vessels, increases in rates, and increases in freight traffic as the transportation market recovers.
Messina CEO Stefano Messina, is optimistic on such a market recovery, especially on Asian and Middle Eastern routes.
The Genoese ship owner plans to face the improving market with a brand new fleet, including two 240 metre ro-ro vessels. These ships, the 'Jolly Diamante' and the 'Jolly Perla', were delivered this year by Korean shipbuilder Daewoo.
An additional six vessels are to be delivered by 2014 by Korean shipbuilder STX, for a total investment of 462 million Euros (USD600 million).
At the same time, Messina is accelerating the disposal of part of the company's existing fleet, with four units up for sale in the first half of the year.
To support the group's new investments, Messina set a growth plan spread over three years that provides an increase in turnover amounting to 295 million Euros (USD383 million) – an increase of 15 per cent over the previous year.
Overall traffic also grew by 10 per cent, and the goal is a 10 per cent increase in annual revenue in by 2015.
Once fully operational, the group will implement the eight new vessels plus the other seven already in use throughout its routes.
Matteo Bianchi
Image Source: Ferryvolution
