Dry CargoEurope

D’Amico adds four supramaxes after closing JV with Coeclerici

It has been a busy period for Rome-based D’Amico Società di Navigazione in the dry bulk segment.

The Italian shipping company, controlled by the cousins Paolo and Cesare d’Amico, has just sold one of its supramax units and moved another two of them from its Medi Supra Pool to the pool managed by Monaco’s C Transport Maritime (CTM).

The ship being sold is the Medi Lisbon, a 2006-built bulk carrier, to Bangladedshi buyers for a price of $10.85m according to broking sources. D’Amico declined to comment on the deal but did confirm to Splash that two other supramax bulk carriers, Medi Bangkok and Medi Paestum, have been transferred to CTM’s Supramax Revenue Sharing Agreement.

“We decided to put two ships in that pool because we think there will be the possibility to create some interesting synergies between our two companies also on other business segments,” a spokesperson from d’Amico said.

The Italian shipping group recently strengthened its position in the supramax business, purchasing the remaining 49% of the dACC Maritime joint venture created with Coeclerici in 2015. The four Oshima-built ships in the JV were the DACC Tirreno, DACC Adriatico, DACC Egeo and DACC Adriatico and have since been renamed Medi Tirreno, Medi Adriatico, Medi Egeo and Medi Atlantico.

The takeover of dACC Maritime was completed early this year and signalled a second exit by Coeclerici from the shipping business in the last two decades. Paolo Clerici sold all his fleet of panamax and capesize bulk carriers in 2002 to Greek owner Peter Livanos. Clerici recalled to Splash that the joint venture set up with d’Amico “had a hedge approach for Coeclerici in order to balance a future sea freight increase and represented an important step in the growth strategy of the group”. The needs and the strategy today have evidently changed for the Milan-based group.

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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