Update on ferry operations
The board of directors of Virtu Finance plc refers to the company announcement issued by the company on 11 March, which provided an update on the operations of the group of companies of which the company forms part.
Aside from high-speed passenger/cargo roll-on/roll-off catamaran ferry M/V Saint John Paul II operating on the Malta-Sicily line, which due to travel restrictions in both Malta and Italy is currently restricted to the carriage of freight and occasional repatriation voyages, the Virtu Maritime Group also owns the high-speed passenger/cargo roll-on/roll-off catamaran ferries M/V Maria Dolores and M/V Jean De La Valette.
As at the time of issuance of the company announcement, the operations of the said two vessels had not been affected by the outbreak of Covid-19 and any ensuing measures taken by the relevant health authorities. Virtu Maritime Limited, the parent company of the Virtu Maritime Group and guarantor of the bonds issued by the company, has informed the board of directors of the company that following the announcement that Spain is to be placed under national lockdown, the operations of the Maria Dolores on the route between Tarifa, Spain and Tangier Ville, Morocco were suspended.
As a result, following discussions with the Charterer of the vessel, the charter party agreement previously in place has been terminated and the vessel redelivered back to Malta. The vessel is now safely moored alongside Deep Water Quay in Valletta Grand Harbour.
In line with local directives, all crew members on board the Maria Dolores have been placed in mandatory quarantine for 14 days.
The Virtu Maritime Group is in receipt of enquiries from third party operators potentially interested in chartering the vessel and discussions have commenced with a view to her resuming operation at the opportune moment.
On the other hand, the Charterer of the Jean de la Valette, operating on the domestic route connecting the main island of Trinidad to the sister island of Tobago has, with effect from 25 March, exercised the option to extend the term of its charter party agreement by a further six months to end December.
The Virtu Maritime Group will continue to monitor the ongoing situation in Malta, Italy and all other jurisdictions in which its fleet is currently operating and the company will keep the market duly updated on developments relative to the Group’s operations.
The Virtu Maritime Group has since the outbreak of the pandemic given, and will continue to give, priority to the health and safety of all of its passengers and crew, and has abided by and will continue to abide by all directives issued by the competent authorities in the interest of the general public.