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LGR di Navigazione exits MR segment, eyes gas

LGR di Navigazione exits MR segment, eyes gas

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Naples-headquartered LGR di Navigazione is on the verge of selling the last two tankers in its fleet.

Brokers report that the Italian shipping company controlled by Carlo Pontecorvo is in the process of offloading sister ships Cenito and Posillipo. The 53,000 dwt MR2 tankers are set to change hands to an undisclosed buyer for some $18m each.

A spokesperson for LGR told Splash: “Negotiations are still pending and any deal is unlikely to be closed before the Christmas period.”

Allied Shipbroking in its latest report has Modi Mano’s Cyprus-based M Sea Capital as the likely buyer.

A statement sent by the CEO Leonardo Rondinella also added that while exiting the tanker business, Pontecorvo is considering investing in a different shipping market, namely gas.

Earlier this year LGR sold another pair of MR tankers – Miseno and Nisida – to the newly formed Danish investment vehicle Navigare Capital Partners.

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Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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