In Italy, the financial crisis afflicting Italiana Coke has impacted negatively on the activities of the company’s bulk terminal at the Port of Genova. As a result, two potential new shareholders — Aldo Spinelli and Luigi Negri, which were willing to each take a 20% stake — are not progressing their initial interest. Spinelli says that he is unaware of the company’s true financial results and will not invest without this information. Nevertheless, he insists that he intends to find a solution, but this will require an agreement among all three parties involved.
Italiana Coke, which runs Terminal Rinfuse Genova, has successfully applied for bankruptcy protection. However, in 2014, the facility handled 851,000 tonnes of dry bulk, which is an increase of 3.4%. In the first four months of the current year, traffic amounted to 303,000 tonnes, an improvement of 14.8%. Nevertheless, ten years ago, the terminal was handling in the region of 2.5 million tonnes of dry bulk annually.
The terminal is to receive investment of €30 million over the next three years, part of which will help in dust suppression. In 2014, a pellet bagging plant was also opened, which it was hoped would provide an alternative to the handling of coal.
While TFG has lost traffic, the neighbouring Rebora terminal operated by Aldo Spinelli has seen its dry bulk traffic increase. Furthermore, its owner has never made a secret of the fact of wanting to expand, having already increased his own bulk handling area by 20,000m2 and also sub-contracting a further berth.