Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Fiat Chrysler Automobiles    FCA   NL0010877643


News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

FCA and the Grimaldi Group: inauguration of the new carrier ship, Grande Torino

share with twitter share with LinkedIn share with facebook
share via e-mail
11/08/2019 | 10:05am EST
08 November 2019
FCA and the Grimaldi Group: inauguration of the new carrier ship, Grande Torino

The Roman port of Civitavecchia was the venue for the inauguration of the Grande Torino, which will make its maiden voyage from there as it transports its first shipment of cars, produced in the FCA Group's EMEA factories, to the United States. As a result the close relationship between the two Groups, which began 50 years ago, will be further strengthened. Massimo Giletti and Cristina Chiabotto attended the ceremony.

The inauguration of the Grimaldi Group's Pure Car & Truck Carrier, Grande Torino, took place today at the port of Civitavecchia in Rome. The vessel is due to transport its first shipment of FCA vehicles for the American market, including the Alfa Romeo Giulia and Stelvio, the Fiat 500L and 500X, the Jeep Renegade and the ProMaster and Dodge models, produced in Turkey. The ceremony was conducted by the presenter Massimo Giletti and the ship's godmother was Cristina Chiabotto, TV presenter and former Miss Italia 2004.

Local authorities attended the event, as well as the management of FCA's supply chain and the Grimaldi Group, and the port of Civitavecchia's local community. Following his initial greetings, Mons. Cono Firringa, parish priest of the Cathedral of Civitavecchia, proceeded to bless the ship. The ceremony was accompanied with the display of several of FCA's latest products such as the Fiat 500X Sport, the Ducato di Fiat Professional, the Abarth 595 esseesse, the Alfa Romeo Stelvio, the Jeep Renegade and the Lancia Ypsilon Monogram. Coincidentally, this event falls on the fiftieth anniversary of the start of relations between the Neapolitan group and FCA, when the very first vehicle carrier bearing 'Grimaldi Lines' livery was christened with the name Warrington, as a tribute to Fiat UK, whose headquarters were in the English city of the same name. The Warrington served the route between Italy and the United Kingdom, carrying Fiat cars for the British market.

In order to deliver its vehicles around the world, the FCA Group has always taken great care to determine the most appropriate mode of transport, with a focus on making the best use of intermodal shipping arrangements. The use of its iFAST Automotive Logistics fleet of car transporters, which partly consists of the latest generation of Natural Power (Liquefied Natural Gas) vehicles, combined with trains and maritime transport, offers a key advantage that pays off in terms of sustainability. By adopting this approach, the company is also focusing on the future, on a global scale.

Around one million vehicles made by FCA and the Group's various brands are transported by ship all over the world using 'deep sea' services, which travel between the various regions, and the more limited radius of 'short sea' services. Grimaldi has played a leading role in the latter, having contributed significantly to increasing EMEA maritime transport, and developing a widespread distribution network, which uses over 30 ports around Europe and North Africa. Within the last 5 years, Grimaldi has also introduced weekly 'deep sea' services for FCA. These operate to and from the USA and Mexico and have expanded the fleet of ships, which also guarantees a regular and efficient service in North America. This is the fleet, operating on the Grimaldi Group's weekly ro-ro connection, between the Mediterranean and North America, and used mainly for transporting FCA vehicles, to which the GrandeTorino belongs. It will call at the ports of Gioia Tauro, Civitavecchia, Livorno, Savona (Italy), Valencia (Spain), Antwerp (Belgium), Halifax (Canada), Davisville, New York, Baltimore, Jacksonville, Houston (USA), Tuxpan and Veracruz (Mexico).

The Grande Torino is the first of seven twin units commissioned by the Grimaldi Group from the Chinese Yangfan shipyard in Zhoushan. The ship is 199.90 meters long and 36.45 meters wide, with a gross tonnage of 65,255 tons, and reaches a cruising speed of 19 knots. It can carry approximately 7,600 CEU (Car Equivalent Unit) or, alternatively, 5,400 linear meters of rolling stock and 2,737 CEU. It is a very versatile ship due to its four movable decks and two access ramps: one on the side and one in the stern. It can therefore transport and embark not only cars, but also any type of rolling freight, such as trucks, tractors, buses or diggers, up to a height of 5.3 meters. From an environmental viewpoint, the Grande Torino is a highly efficient ship. In fact, it is equipped with an electronically-controlled Man Energy Solutions engine, as required by the new regulations for the reduction of nitrogen oxide (NOx) emissions, as well as a scrubber for the reduction of sulphur oxide (SOx) emissions. Furthermore, it also complies with the most recent standards in terms of ballast water treatment.

Turin, November 8, 2019


Fiat Chrysler Automobiles NV published this content on 08 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2019 15:04:04 UTC

share with twitter share with LinkedIn share with facebook
share via e-mail
12/12FIAT CHRYSLER AUTOMOBILES : PSA calls supervisory board meeting for Tuesday for ..
12/12Antitrust authorities are having a field day
12/12PEUGEOT : Fiat Chrysler boss Manley to head European auto lobby group ACEA
12/11FIAT CHRYSLER AUTOMOBILES : Workers Approve New Contract, Ending Detroit Labor T..
12/11FIAT CHRYSLER AUTOMOBILES : UAW members ratify new four-year contract
12/11FIAT CHRYSLER AUTOMOBILES : UAW workers ratify new contract with Fiat Chrysler
12/10GM, doubling down on big SUVs, unveils longer Chevy Tahoe, Suburban
12/10GM, doubling down on big SUVs, unveils longer Chevy Tahoe, Suburban
12/10DEADLINE REMINDER : The Law Offices of Howard G. Smith Reminds Investors of Loom..
12/10FIAT CHRYSLER AUTOMOBILES : FCA Joins ‘Responsible Sourcing Blockchain Net..
More news
Financials (EUR)
Sales 2019 108 B
EBIT 2019 6 339 M
Net income 2019 3 667 M
Finance 2019 4 528 M
Yield 2019 4,69%
P/E ratio 2019 6,03x
P/E ratio 2020 4,80x
EV / Sales2019 0,15x
EV / Sales2020 0,15x
Capitalization 20 682 M
Duration : Period :
Fiat Chrysler Automobiles Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FIAT CHRYSLER AUTOMOBILES
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 15,48  €
Last Close Price 13,19  €
Spread / Highest target 112%
Spread / Average Target 17,4%
Spread / Lowest Target -16,6%
EPS Revisions
Michael Mark Manley President, Chief Executive Officer & Director
John Jacob Philip Elkann Chairman
Richard Keith Palmer Chief Financial Officer & Executive Director
Harald J. Wester Chief Technology Officer
Andrea Agnelli Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
FERRARI67.16%30 813
EXOR N.V.46.59%17 840