GNV has invoked an escape clause allowing it to withdraw within two months. PAM said that the operator had cited “significant modifications” to its original business plan, mainly due to unprecedented rises in fuel costs and problems over fleet composition.
PAM stated that it regretted the decision, but acknowledged that it was based on financial reasons and paid tribute to the “excellent relations” that had been formed with GNV. It said that efforts would be intensified to attract new customers from the short sea, ro-ro, ro-pax and passenger ferry sectors. It pointed to a particular need to develop international ro-pax business in line with Mediterranean-wide levels of activity and investment.
Meanwhile, a preliminary study by PAM has signalled a long-term E600M extension of cruise and ro-pax facilities in the eastern harbour area to cater for the latest generation of large vessels. It would take around 10 years to realise the project, as part of the eastern harbour 2008-2020 strategic development plan. The go-ahead is subject to technical, financial and socio-economic feasibility studies involving local partners.
