Moby and Toremars shipowners: "Clear growth in 2019. The sale of ships was a strategic operation"
"I intend to protect my five thousand seafarers and the entire world revolving around Onorato Armatori, as my family has always done in over a hundred years of history at sea." Vincenzo Onorato, owner of the companies Moby and Toremar, marks a clear border: on the one hand the work with his sailors, on the other hand the financing with his traps.
The company and the shipping companies are safe?  «Let's talk about the numbers: 2018 was a year of start-up and sowing, whose harvest is looming this year. Our accounts are public, our half-yearly accounts are also deposited with bond investors. The semi-annual report for 2018 shows revenues of € 219.2 million for € 235.8 million, which corresponds to an increase of around 8%. The operating margin was 18.3 million euros in the first half of 2018, and 47.8 million euros in the first months of this year: + 161%. We have always been honored, allow me the pun, our obligations to finance institutions with regularity and interests ripened to bondholders. It is a peculiarity in this matter that just over three weeks ago, we paid the funds that hold the bond the correct and due coupon of € 12 million in bankruptcy proceedings. In your opinion, what is behind this operation and what are the risks for the company?
"It is good to put the actors of this story on balance: on the one hand, there is a family that employs five thousand people with a history. On the other hand, there are traditional funds that operate in tax havens like the Cayman Islands and bond with one have purchased a large discount. This means that in many cases the assets that guarantee the investment exceed the investment costs many times over. Draw conclusions from it. "
Would there be a recent takeover of the two Danish ships in exchange for Aki and Wonder in the crosshairs? For those who attack you, it would be a way to adjust the accounts in trouble."
"The operation of selling Moby Aki and Moby Wonder are part of a strategic plan for newbuildings, two of which have already been delivered, and coincide with the acquisition of two vessels that not only change the size of the fleet, but are also better suited to the lines. "
The controversy began with the acquisition of Tirrenia and does not seem to be abating: the focus is on the question of the 300th -Millionen bond. How can this story bother your business?
«Onorato Armatori is today one of the three largest companies in the world for ferries. However, personal pride is that we employ Italian and EU seafarers rather than exploiting starvation wages, as do other companies, to help non-EU seafarers. A business model that disturbs the lobby of the shipowners. We are calm and confident, but we do not retreat from the slander of hedge funds. "