MSC and Banca Carige agree deal for Messina restructuring

MSC and Banca Carige agree deal for Messina restructuring

MSC and Banca Carige have sealed a pre-agreement fixing the main terms of the debt restructuring for Messina Group.

MSC is now set to take a 49% stake in the Genoa-based conro shipping company. Sources suggest that MSC will probably take control of some of the eight conro ships in the Messina fleet, two of which has already been chartered out to MSC for a new route linking Turkey and Trieste.

The details of the agreement reached between MSC and Carige has not been disclosed yet, and closure with Messina will take some months since agreements with other banks are still required.

Messina owes Banca Carige more than €400m from the purchase of a series of eight 45,200 dwt conro vessels built by STX and Daewoo shipyards in South Korea and delivered from 2011 to 2015.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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