Ravenna-based Mediterranea di Navigazione has sold the 2012-built gas carrier Excalibur to Dutch gas shipping specialist Anthony Veder for $11m with delivery scheduled for early next month.
to Dutch gas shipping specialist Anthony Veder for $11m with delivery scheduled for early next month. The deal was confirmed to Splash by Paolo Cagnoni, head of the Italian company, and is part of a wider plan aimed at restructure the overall financial exposure of the chemical, gas and tankers specialist which exceeds €120m ($140m).
With the sale SC Lowy, which recently purchased a non-performing loan controlled by BPER Bank, closes its investment in Mediterranea making it possible for the Cagnoni-controlled firm to restructure its overall financial exposure with the support of another Italian bank Illimity.
Once the Excalibur is delivered, the Ravenna-based company will be left with nine vessels: bitumen tanker Black Shark, the ethylene carrier King Arthur, and small tankers Normanna, Ottomana, Saracena, Barbarica, Cosmo, Sveva and Shogun.
