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Editor in chief: Angelo Scorza
02/10/17 10:59

Setramar to sell Romeo their second-last ship

Handysize bulk carrier Gagliarda was transferred to NovaAlgoma Short-Sea Carriers only leaving the Pietro Benedetti in Poggiali's fleet

Ravenna-based Armamentro Setramar, controlled by the Poggiali family, recently sold Handysize bulk carrier Gagliarda to NovaAlgoma Short-Sea Carriers, founded last April by Nova Marine Carriers of the Romeo family in partnership with Canadian Algoma Central group.

The latter company operates up to 15,000 dwt ships, particularly engaged in short-sea trading in Europe and North America, on which the Gagliarda will also be deployed.

The value of transaction wasn't disclosed, however, as reported by, current market price ranges between 4 and 4.5 million dollars.

A year after the sale of a further unit, the Ardita,  purchased by Canadian group McKeil Work Boats in late 2016, Setramar's fleet is currently only encompassing the Pietro Benedetti (9,800 dwt general cargo built in China in 2012).

Nobody knows whether the ongoing sale is somehow related to the group's financial restructuring plan which, in past years, also brought about the sale of Gesmar 50% shares to Rimorchiatori Riuniti.

However, the enduring dry bulk market crisis has been seriously affecting several small-sized shipowning companies. 

Nicola Capuzzo

TAG : Bulker