ASSARMATORI sides with Moby – “Stop Speculative Finance”

The relationship between shipowning world and finance must be rewritten and Italian shipping companies cannot be a land of conquest for speculative actions, aimed at denying continuity and undermining the employment levels of workers and seafarers on the fleet that flies the national flag and provides essential public services.

This is how Stefano Messina, President of ASSARMATORI, spoke today on the Moby case and on the ongoing conflict between the Group headed by the Onorato family and speculative investment funds.

“In strongly affirming – continues Stefano Messina – the position of the Association in unconditional support not only of one of its Members, but also of one of the most important historical realities of the Italian fleet, the Moby case represents the confirmation, unfortunately acute, of a particularly delicate moment in the relations between finance and shipping. A moment – continues the President of ASSARMATORI – that requires a global rethinking and perhaps also the definition of a new framework of rules. Long gone are the times of linear relationships between shipowning groups and banks willing and in a position to support the entrepreneurial effort and investment in the renewal of fleets; now an industry as capital intensive as that of the sea and so essential for the strategic balance of the economy and world trade, cannot be abandoned to the storm winds of speculation “.

“New financial players are welcome – continues Stefano Messina – able to support even the efforts that shipowners like Moby are facing in the field of environmental protection, but it is now necessary that these groups cease to consider the ships, the sea routes and especially seafarers, like a game of Monopoly where the game opens and closes in very short time with million-dollar capital gains in favor of those who speculate. Shipping, and the Italian one in particular, needs not speculators who buy, as happened in this case, the secondary market bonds issued by the company, but of partners who invest in projects and have in their financial genetic code the support, the support of industrial initiatives and not disposable speculations made on the skin of a group that employs 5,000 people and that constitutes an important infrastructure of our country ”.