Gestioni Armatoriali makes return with two MRs from Latvian Shipping

A few months after sealing the debt-restructuring plan with its banks which saw the company progressively transfer all its ships – nine bulkers and three tankers – to Deutsche Bank and Attestor Capital, the Ravenna-based Gestioni Armatoriali is back on the market with the purchase of two vessels.

Nicola Coccia, the line’s chairman, confirmed to Splash that his company has just completed the purchase of the two MR1 tankers Kraslava and Kazdanga from Latvian Shipping for $11m each.

Coccia revealed that the ships will be controlled through a dedicated new company since Gestioni Armatoriali will now act as a technical manager for a series of investors, both shipowners and private equity funds. The former president of the Italian shipowners association Confitarma also stated: “Gestioni’s structure, personnel and know-how will be at disposal of all those players which would like to invest again in shipping in the future but which were obliged to close down their companies in the recent past due to the crisis.”

This new project comes after Mario Mattioli’s interview with Maritime CEO where the current head of Confitarma aimed at creating a new business model in Italy (similar to the one adopted by the Greek colleagues) with a shared management company for those players interested at controlling and operating a small number of ships.

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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