RBD Armatori are intending to sell off seven ships Splash can exclusively reveal.
According to the latest version of the company’s restructuring plan due to be voted by creditors in the coming weeks, four post-panamax bulk carriers and three panamax bulk carriers will be sold to repay debts to Goldman Sachs, Deutsche Bank and DNB Bank.
If the plan is accepted by the creditors, the Naples-based shipping company will continue operations with a fleet of six aframax tankers, while the remaining three capsize bulkers will be transferred to a new company fully owned by RBD.
RBD Armatori’s overall financial exposure with banks amounts at $743m and includes Italian lenders Monte Paschi Siena, Intesa Sanpaolo, Centrobanca, Gruppo Bper and Cariparma.
Last week Splash reported that Deutsche Bank is emerging as an aggressive buyer of non-performing shipping loans in the Italian market and that the German lender recently bought from Italian’s Banco Popolare a credit worth $38m with RBD Armatori. Sources familiar with the matter say that Deutsche Bank is interested at taking over also Goldman Sachs’ debt worth $206m.