Gestioni Armatoriali supramax fire sale in bid to survive
Ravenna-based Gestioni Armatoriali will sell four ships from its fleet of 12 before next summer. That’s what is written in the restructuring plan the company controlled by Nicola Coccia, Bruno Castaldo...
View ArticleMSC and Palumbo team up for a new floating drydock in Naples
Two shipyards based in the port of Naples, La Nuova Meccanica Navale (50% owned by MSC Group and the local Ummarino family) and Palumbo Group, have joined forces and set up a joint venture called...
View ArticleFratelli Cosulich acquires bunker tanker for Singapore
Italy’s Fratelli Cosulich has just sealed the acquisition of its third bunker tanker to be deployed in the port of Singapore. Timothy Cosulich, CEO of the company, confirmed to Splash that the vessel...
View ArticleGiuseppe Bottiglieri rescue plan gains bank approval
Naples-based Giuseppe Bottiglieri Shipping Company has obtained a green light from banks on the restructuring plan proposed jointly with Bain Capital investment fund. In a release on Friday Giuseppe...
View ArticleGestioni Armatoriali now at the mercy of turnaround funds
UK turnaround fund Attestor Capital is rapidly increasing its role in the Italian shipping arena, purchasing its second non-performing-loan of Ravenna-based Gestioni Armatoriali in quick succession. In...
View ArticlePrysmian invests in new cablelayer
Italy’s Prysmian Group, a specialist in the energy and telecom cable systems industry, has announced an investment in excess of €170m ($210m) in a new cutting-edge cable laying vessel. “This strategic...
View ArticleSaipem buys Lewek Constellation
Italy’s Saipem is paying $275m to acquire , an ultra deepwater rigid and flexible pipelay, heavy lift and construction vessel. Stefano Cao, CEO of Saipem, commented: “The Constellation will integrate...
View ArticleItalian bank readies to offload shipping loans
Genoa-based lender Banca Carige has put up for sale the financial exposures of three shipping companies which are worth some $750m. The loans classified as ‘unlikely to pay’ (one step before the ‘non...
View ArticleMoby and Tirrenia sanctioned by antitrust authority in Italy
The Italian Antitrust Authority sanctioned two ferry companies, Moby and Tirrenia CIN which are both part of the Onorato Armatori group, with a fine of €29m ($36m) for abuse of their dominant position...
View ArticleNova Marine Carriers takes bulk pair from United Seven KG
Lugano-based Nova Marine Carriers is going to add two modern bulk carriers to its fleet. According to some market reports both the ship North Wind and South Wind controlled by the German company United...
View ArticleGrimaldi taking full control of New TTT Lines
Grimaldi Group is set to take full control of ro-ro shipping company New TTT Lines according to workers unions in Italy which are calling for more detailed informations about their future. New TTT...
View ArticleIcon Infrastructure buys into Salerno port
UK-based fund Icon Infrastructure has bought into the port of Salerno in southern Italy. Icon has a 45% stake in Spinelli Group which just announced it has sealed a deal to take a 30% stake of the...
View ArticleD’Amato di Navigazione to fight bankruptcy decision
The Naples-based D’Amato di Navigazione shipping company has been declared bankrupt by a local court but the main shareholder has not given up and intends to fight the decision. The D’Amato family...
View ArticleMatrix Energy closes in on third tanker
Nigerian group Matrix Energy is close to snapping up the 2004-built tanker for a price of roughly $10m. The ship is owned by the shipping-dedicated investment fund Venice Shipping & Logistics. “The...
View ArticleMicoperi fails in standstill bid
Ravenna-based Micoperi was not able to reach a positive vote from 51% of the bondholders called to express their votes on the standstill request presented after the company did not repay $11m worth of...
View ArticleRINA Services CEO Michele Francioni resigns
Michele Francioni has just resigned from his role of CEO at RINA Services citing personal reasons. The decision by Francioni was unexpected, and rumours point to differences with the group’s top...
View ArticleNew Italian line launched
A new shipping line was launched in Italy yesterday and is due to start operations early next month. ProCargo Line will be operating regular connections between the Italian ports of Marina di Carrara...
View ArticleStar Bulk adds 16 Augustea bulkers in all-share transaction
Greek dry bulk owner Star Bulk Carriers has moved to take its fleet to 90 vessels, with the acquisition of 16 bulkers from Italy’s Augustea Atlantica and York Capital Management in an all-share...
View ArticleSaipem awarded $190m worth of new contracts
Italian offshore services firm Saipem has been awarded several new contracts, led by semi-submersible rig Scarabeo 8, worth a total of around $190m. The 2012-built Scarabeo 8 has been awarded several...
View ArticleNova Marine Carriers takes handysize from Nisshin Shipping
Lugano-based shipping company Nova Marine Carriers is closing its seventh deal of the year, with the company controlled by Giovanni Romeo and sons reported as the buyer of the 2015-built handysize bulk...
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