The auction for the sale of five Moby ferries, scheduled for 12 November 2025, marks a key step in the restructuring process agreed with the Italian Competition Authority. The total value of the transaction is set at €229.9 million, aimed at repaying the financing received from Sas, a Luxembourg-based company within the MSC Group.
The vessels involved are the ro-pax ferries Moby Aki, Moby Wonder, Athara, Janas and Moby Ale 2. The first two will be sold under a sale and leaseback agreement, involving the sale and immediate bareboat charter of the ships for fifteen years, while retaining the Italian flag, their original names and ongoing operation on domestic routes. The other three ferries will be sold outright, as indicated in the documents published on the maritime auction portal. These ships, built between 2001 and 2005, are all registered in Italy and mainly operate on routes to Sardinia and Sicily.
According to the Antitrust decision published in October, the agreement between Sas (MSC), Moby and GNV required a partial divestment of the fleet and the restructuring of financial relationships to prevent market concentration. Sas relinquished its pledge over 51% of Moby and sold the 49% previously acquired, in line with the obligation to dissolve the financial and structural links between the groups involved. The operation enables Moby to reduce its exposure to its lender while safeguarding its commercial and employment activities linked to maritime connections.
The sale will take place through a single lot comprising all five vessels, under independent supervision and transparent procedures to ensure equal access for both domestic and international operators. The leasing conditions for Moby Aki and Moby Wonder will be governed by the Barecon 2017 contract, the BIMCO standard for bareboat charter agreements. This framework gives the charterer full technical and commercial control of the vessel while maintaining contractual obligations for maintenance, insurance and flag compliance.
The use of the sale and leaseback formula under Barecon allows the shipping company to secure the financial resources needed for restructuring while ensuring service continuity and the stability of the Italian fleet. The Antitrust Authority has identified this solution as appropriate to restore fair competition in the maritime transport sector following its 2024 investigation into potential market concentration involving Moby, MSC and GNV.
