Premuda and Star Bulk tipped to bid for RBD Armatori’s fleet

Premuda and Star Bulk tipped to bid for RBD Armatori’s fleet

At least two companies are very likely to make an offer for Italian owner RBD Armatori’s fleet to be sold at auction for $200m on July 24, sources tell Splash.

The two companies in question are Pillarstone Italy and Star Bulk Carriers, both of them using local partners: Genoa-based Premuda and Naples-based Augustea. An offer by Premuda has already been presented to the Court of Torre Annunziata according to media sources in Italy.

Pillarstone Italy has multiple interests in the deal sale since on one side the KKR-controlled turnaround fund is the main creditor of the bankrupt shipping company and on the other side is the sole shareholder of Premuda which would be interested at buying the ships in order to consolidate and operate a bigger tanker and bulker fleet.

Star Bulk Carriers is also trying to proceed with an ambitious plan of consolidation in the dry bulk business and a takeover of RBD’s fleet would follow similar deals closed with Augustea and Songa Bulk in the last few months.

The Court of Torre Annunziata (Naples) put up for sale at auction the entire shipping branch of RBD Armatori, which consists of 13 ships (three capesize bulkers, four post-panamax bulkers and six aframax tankers), as well as all the crews and the personnel ashore working in Naples.

 

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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