Yilport Holding, company part of the Turkish group Yildirim Holding, has officially presented a request for investing in and operating the Molo Polisettoriale terminal at the port of Taranto. This area had been operated until 2015 as a transhipment hub by Taranto Container Terminal, a joint venture between Hutchison and Evergreen, and achieved throughput of […]
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Yilport moves to enter the Italian port market at Taranto
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Gestioni Armatoriali fleet goes to Deutsche Bank and Attestor Capital
The entire fleet of Ravenna-based Gestioni Armatoriali, made up of nine bulkers and three tankers, will be transferred to Deutsche Bank and Attestor Capital. The transfer is part of a debt restructuring agreement under Italian bankruptcy law just signed by the Italian shipping company with creditors Deutsche Bank, Morgan Stanley and Banca di Credito Popolare. […]
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Monteverde di Navigazione reaches restructuring deal with banks
Following the news that Gestioni Armatoriali has reached an agreement with its creditors over the long-awaited financial restructuring, another Italian shipping company has just closed a similar procedure with its banks. The Naples-based Monteverde di Navigazione, a small firm headed by Nicola Schiano, controlling three small dry bulkers, has just sealed an agreement with Monte […]
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D’Amico International Shipping sells product tanker
Luxembourg-based d’Amico International Shipping has announced that its Irish operating subsidiary d’Amico Tankers has reached an agreement to sell 2003-built product tanker for $8.025m. The sale will generate around $2.4m in cash net of commissions and reimbursement of the vessel’s existing loan. Marco Fiori, CEO of d’Amico International Shipping, said the deal “will allow us […]
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D’Amico signs product tanker sale and leaseback
Italy’s d’Amico International Shipping has sold 2016-built product tanker to a “reputable Japanese counterparty” for $29.5m, but will continue to operate the vessel thanks to a 10-year bareboat charter back to d’Amico. “This transaction allows d’Amico Tankers to generate at the vessel’s delivery around US$ 11.9 million in cash, net of commissions and the reimbursement […]
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Grimaldi looks to fast-track Jinling newbuilds
Naples-based Grimaldi Group is offering a premium to Jinling Shipyard if the Chinese builder can accelerate the construction of the 12 new hybrid ro-ro vessels ordered earlier this year. “We have just made an offer to the shipyard: $10k for every day saved from the delivery date reported in the newbuilding contract and for every […]
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Coeclerici cashes out of coal transhipment with sale to Vale
After almost half a century Milan-based Coeclerici Group has closed its coal logistics division, the pioneers of coal transhipment claiming there is no money to be made in the sector any more. Coeclerci has been slimming its shipping interests for years and with the sale of two transhipment vessels now it has exitied the coal […]
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RBD Armatori fleet sale falls through
No one has been willing to shell out the $200m demanded for the 13 ships belonging to bust RBD Armatori. The first attempt by the Court of Torre Annunziata in Naples to sell the mix of tankers and bulkers was unsuccessful with no offers submitted. Neither Pillarstone Italy nor Spyros Pappas’ Star Bulk Carriers showed […]
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New container hub planned for Palermo
The Institute for Political, Social and Economic studies (Eurispes) in Italy has just disclosed an ambitious plan to build up a brand new container hub at the port of Palermo in Sicily capable of handling 16 million containers per year. The investment required will be around €5bn ($5.8bn) according to the first valuations and will […]
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SC Lowy snaps up $160m of shipping NPLs from Italian bank MPS
Hong Kong-based international finance group SC Lowy has just closed its largest Italian shipping debt transaction, acquiring a portfolio of loans from Banca Monte dei Paschi di Siena (MPS). The transaction involves several non-performing shipping loans with a total gross book value of $160m and related to defaulted shipping debt comprised dry bulk shipping, crude […]
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D’Amico seals another sale and leaseback deal
Italian owner d’Amico International Shipping has announced that its Irish subsidiary d’Amico Tankers has reached an agreement with an unnamed Japanese company for the sale and leaseback of 2015-built MR product tanker . The $28.5m deal will see the company generate around $13.3m in cash after the payment of the vessel’s existing loan, funds it […]
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Saipem scores new offshore contracts in Guyana and Congo worth $700m
Italian contractor Saipem has been awarded contracts by Esso Exploration and Production Guyana for the second phase of the ExxonMobil led Liza development offshore Guyana. These contracts are in addition to those awarded to Saipem in 2017 for Liza Phase 1 is written in a statement. Saipem will perform detailed engineering, procurement, construction, and installation […]
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Fincantieri and CSSC extend cooperation
Italy’s Fincantieri and China State Shipbuilding Corporation have signed a memorandum of understanding for the extension of cooperation, already existing between the two groups for cruise shipping, to all segments of merchant shipbuilding. A statement from the Trieste-based group specifies that this agreement “foresees the parties to discuss the possibility to extend their current collaboration, […]
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Augustea in negotiations to sell new Pakistan transhipment project
Naples-based Augustea Group is in advanced stages of negotiation with a Chinese counterpart to sell the contract to build and operate a new floating terminal capable of handling coal for a new energy plant under construction in Hub, Pakistan. Sources revealed to Splash the intention of the Zagari family to withdraw from the project following […]
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Three ports in Italy ready for low sulphur bunker supply before 2020
Shipowners will be glad to hear that at least three ports in Italy will be ready to supply fuel oil onboard with a sulphur content of no more than 0.50%. As widely known, IMO has set a global limit for sulphur in fuel oil used onboard ships of 0.50% from January 1 2020 with the […]
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W Marine takes its ninth bulk carrier from Marwave
Athens-based W Marine is reported on the market as the buyer of modern (2011-built) post-panamax bulk carrier for $17.2m. Silvia Zacchello, head of Dutch company Marwave Shipmanagement, confirmed to Splash that the vessel, which is commercially operated by Marwave and technically by Ishima, has been sold to Greek buyers for $17.2m. Zacchello told Splash that […]
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Court finds Saipem guilty in Sonatrach corruption case in Algeria
In a court ruling in Milan, former Saipem CEO Pietro Tali was sentenced to four years and nine months in prison. Three other executives were all acquitted. The case came about after allegations Saipem paid intermediaries around €198m to secure €8bn worth of contracts from Algeria’s Sonatrach. “The Court of Milan pronounced judgement in the […]
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Motia restructures with new investor waiting in the wings
Mestre-based Motia Compagnia di Navigazione has officially requested the local coast guard to reflag its fleet of seven tankers from the Italian flag to the Marshall Islands as part of a restructuring. The managing director of Motia, Claudio Baccichetti, told Splash: “The current challenging market for liquid bulk cargo in shipping obliged the company to […]
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Marnavi exercises chemical tanker option at Wuchang Shipbuilding
Italian owner Marnavi has placed an order at CSIC-affiliated Wuchang Shipbuilding for the construction of a 14,620 dwt chemical tanker. The new order is the first option in a 1+1+1 shipbuilding contract signed between Marnavi and the shipyard in December last year. Delivery of the new ship is scheduled in 2020. Marnavi currently operates a […]
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NovaAlgoma and Peter Döhle Schiffahrts create new mini-bulker pool
NovaAlgoma Short Sea Carriers, a joint venture of Algoma Central Corporation and Nova Marine Holdings SA, and Peter Döhle Schiffahrts-KG have announced the creation of DNA Shipping, a commercial agreement to pursue consolidation and growth within the multipurpose project vessel and 13,500 to 15,000 mini-grabber dry bulk markets. The new entity will result in the […]
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