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Editor in chief: Angelo Scorza
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08/01/18 11:10

Over 300 million dollar value of Italian vessels sold in 2017

According to VesselsValue.com d’Amico International Shipping was the company which sold more ships (although to take over their management)

Una nave della flotta d'Amico International Shipping

Year 2017 will be recalled as another year of big sales for Italian shipping companies.

According to specialized database VesselsValue.com in past 12 months Italy purchased just 4 vessels while selling 27 units, for a total value of 310 million dollar.

Indeed the acquired units by Italy-based owners were only 3, all by Rimorchiatori Riuniti Group (1 Panamax bulk carrier and 2 Anchor Handling Tug offshore vessels) for over 15 million dollar.

In fact, the fourth transaction was carried out by Shamrock Maritime, a company led by Italian entrepreneurs (Pratolongo and Mondini), although headquartered in Montecarlo: 1 Supramax bulk carrier for 16.7 million dollar.

Among sales, d'Amico International Shipping stood out as it sold 7 Medium Range II tankers to make cash, but then took over their management through long-term leasing or charter contracts. Many of these sales imply options to repurchase the assets in the following financial years.

As many as 4 dry bulk carriers were sold by Rbd Armatori, whose future depends on the Court of Torre Annunziata, called upon to decide either bankruptcy or extraordinary receivership.

Another 4 tankers were sold by Lgr di Navigazione which decided to stop working in this segment, though they might invest in liquefied natural gas tankers.

The other to sell were Navemar (going bankrupt), two companies of the Bogazzi Group, Marnavi (selling tanker Rita), Argo, Fratelli d'Amato, Augustea, Augusta Offshore, Armamento Setramar (which does not have any more vessels in its fleet) and Costa Crociere, selling Costa neoClassica. 

VesselsValue.com's statistics did not consider investments in port tugs made by Rimorchiatori Riuniti, Gesmar, Rimorchiatori Napoletani and Rimorchiatori Riuniti Panfido.

N.C. 

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