Dry CargoEurope

Augustea sale falls through

Photo of Sam Chambers Sam ChambersDecember 11, 2015
4 Less than a minute

A widely reported sale of one of Augustea’s ships, the newly delivered ABY Virginia, has failed, according to sources.

The brand new kamsarmax was widely reported sold at $25m with a time charter back agreement to Augustea for 8-10 months at a rate of $9,750 daily.

The rumoured sale and subsequent failure was not confirmed by Augustea’s ceo Raffaele Zagari when Splash contacted him earlier this week.

Zagari confirmed the sale of the panamax bulk carrier Ribbon and that two bulk carriers are expected to leave Augustea’s fleet in the coming weeks.

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Photo of Sam Chambers Sam ChambersDecember 11, 2015
4 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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