Control of chemical tanker owner Finbeta goes to newcomer Chemtank

Control of chemical tanker owner Finbeta goes to newcomer Chemtank

Savona-based Finbeta, a shipping firm founded by the Bertani family and active in the chemical tanker business with a fleet of five ships, has changed hands and is now controlled by Chemtank. The latter is a company controlled by Express Holding, a newly built investment vehicle dedicated to investments and turnarounds in tanker and dry bulk companies.

Finbeta had a financial exposure with Banca Carige which was worth some $70m ($77.8m) but now, through the sale of the non-performing-loans and a capital increase from the new shareholder, the control of the company has passed to this new financial player. Luca and Alessandra Bertani will maintain a minority share and stay at the helm of the firm.

Express Holding is also expected to use Finbeta as an investment platform for assets coming from distressed companies as a further two bulk carriers were also purchased earlier this year.

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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