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Giuliana Bunkeraggi’s restructuring approved in Trieste court

Trieste-based bunkering company Giuliana Bunkeraggi has just been saved by the local court which approved the concordato preventive procedure of Italian insolvency law.

The ruling allows the company, controlled by the Napp family, to have the possibility to go on operating.

Giuliana Bunkeraggi, which was already obliged to sell some ships to Ocean and Petromar in Italy, has financial exposure of some $10m and the majority of creditors have approved the proposed repayment plan.

In the coming months the remaining two bunker tankers in the company’s fleet, 1993-built Piero N and 1980-built Marisa N, will be put up for sale.

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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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