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Editor in chief: Angelo Scorza
06/05/19 11:18

International arbitration between Minoan and Tirrenia CIN

Grimaldi Group asks some 9 million eujro for several damages on the Bonaria and Amsicora ferries

Besides the competition on the routes to and from Sicily and Sardinia islands with Italy mainland, Grimaldi Group and Moby have now a new match to be played on the field in London.

In 2018 financial report the Vincenzo Onorato-controlled ferry company revealed that April this year, “the subsidiary CIN Tirrenia was notified of an international arbitration dispute in London, activated by Minoan Lines S.A. and relating to the redelivery conditions of the vessels Amsicora and Bonaria subject to a bareboat charter signed between the parties in July 2012 and ending on January 22, 2018. The establishment of this dispute follows a letter of formal notice received by the subsidiary on January 14, 2019, wherein the legal firm representing the counterparty quantifies the request for compensation from CIN at Euro 4,559,000 for the alleged damage found on Bonaria, and Euro 4,225,000for the alleged damage suffered by Amsicora”.

The legal opinion requested by Tirrenia CIN from a leading firm, however, deemed it improbable (due to the lateness of the report by Minoan and the absence of documented proof) for the requested compensation mentioned above to be accepted.

Nicola Capuzzo

TAG : Ferry