Cryo Gas Med LPG carrier pair sold at auction

Cryo Gas Med LPG carrier pair sold at auction

Two ships previously owned by Genoa-based Cryo Gas Med shipping company has just been sold at auction.

Shipbroking sources tell Splash that the LPG carrier CGM Leopard was sold for $1.7m to an undisclosed buyer. Sister ship CGM Tiger, renamed to Power S, was also sold and is now managed by Turkey’s Umde Ship Management.

Italian bank Antonveneta had a €9m ($10.1m) mortgage on the pair of vessels.

Cryo Gas Med’s overall financial exposure with creditors amounts to over €12m ($13.5m).

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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