Premuda’s double aframax sale completed

Premuda’s double aframax sale completed

The two aframax tankers – Four Atlantica and Four Antarctica – have been sold by Premuda as first reported by Splash last month. The buyer, M Sea Capital Fund, headed by Modi Mano, has also acquired also multiannual bareboat charter contracts of the two units with the Greek-based shipping company Minerva Marine.

Premuda said that the proceeds from the sale (equal to $55m, net of brokerage commissions) will go on the repayment of mortgage loans related to the two units ($47.7m).

According to Debtwire, Premuda has proposed to its lenders to subscribe to convertible bonds in return for writing off its roughly €100m ($110m) unsecured loans.

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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