Bust Navemar’s fleet sold to Romanian interests

Constanta-based Overseas Suppliers SRL was awarded the two general cargo ships owned by bankrupt Italian line Navemar put up for sale by a court in Naples. The two multipurpose tweendeckers Lady Gloria and Lady Gaia were built in 2000 and purchased with the financial support of Banca Popolare di Novara.

Yesterday the two ships were sold en bloc at auction and the best offer, amid many interested parties from Italy, Malta and Norway, came from Romania’s Overseas Suppliers SRL which put on the table €2.8m ($3m). The Eastern European entity seems to be a new entry on the international shipping scene.

Navemar was founded in 2003 and bought two general cargoships the following year, ordering two more in China in 2007 that it later sold. A few months ago the Monte di Procida based owner was declared bankrupt and liquidation proceedings begun.

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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