Premuda offloads ageing tanker

Following the signing of a standstill agreement with creditor banks last month, Italy’s Premuda has initiated the sale of an ageing tanker.

In its second quarter results the Genoa-based shipping company revealed that it had signed an MOA on July 31st for the sale of Four Moon (64,000 dwt, built 1984) to an undisclosed third party, with a bareboat charter back to the company until the end of 2017.

The price of the deal was not revealed but sources tell Splash it’s around $5.2m and the buyer is a new company formed by a group of investors based in Italy and Monaco. The closing of the deal is subject to several conditions.

Premuda posted a first half loss of €39.96m compared to €15.4m in the first half of 2014, and the company’s total debts now amount to around €378.4m.

Market sources tell Splash that two sister ships, Minerva Atlantica (115,000 dwt, built 2006) and Minerva Antarctica (115,000 dwt, built 2006) are also for sale.

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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