Rimorchiatori Riuniti in $19m kamsarmax buy

Rimorchiatori Riuniti in $19m kamsarmax buy

Genoa: Rimorchiatori Riuniti is back in the market to snatch opportunities. The Genoa-based shipping group, headed by the Gavarone and Delle Piane families, has just completed the purchase of a kamsarmax bulk carrier named Bergen Trader (81,600 dwt; built 2011) from Japan’s Nissin Shipping.

Gregorio Gavarone, ceo of Rimorchiatori Riuniti, confirmed to Splash the deal, revealing that “the company has invested some US$19m” and “the delivery is scheduled from mid-August to October”.

Looking at the reasons behind this new investment, Gavarone explained that “ship values on the dry bulk market are historically low, nowadays cost of money is quite cheap and high quality bulk carriers for sale are very few. Indeed, all the investors are looking at the same opportunities.”

Rimorchiatori Riuniti’s core business is traditionally port tugs and offshore vessels activity, but the company’s fleet includes also two containerships (RR Europa and Milan Trader) and a panamax bulk carrier (Hampton Bridge). The latest kamsarmax buy represents for the company a “mid-to long-term vision deal”, added the Italian owner, who has been interviewed for sister title, Maritime CEO, recently.

Gavarone told Splash he was in the market for more ship acquisitions. “There are many appealing occasions looking around on the shipping market and we will try to take them if possible,” he said.

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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