Ruben Brothers offer for RBD Armatori sees fleet auction cancelled

Ruben Brothers offer for RBD Armatori sees fleet auction cancelled

With an offer on the table from Ruben Brothers investment fund, the planned auction of RBD Armatori’s shipping assets has been cancelled by the local Court of Torre Annunziata, Naples.

The fleet consisting of the 13 vessels (6 aframax tankers, 3 capesize and 4 post-panamax bulkers) together with charter contracts and personnel was set to be auctioned on February 22, with a starting price of $190m.

As reported by Splash earlier this month, an offer for the whole company (real estate properties included) was submitted to the liquidators by Reuben Brothers fund for a total of €270m ($305m). With the auction now cancelled, it looks like the offer made for the Torre del Greco-based shipping company is likely to be accepted by the local court.

VesselsValue.com and MSI value RBD Armatori’s fleet at €248m ($282m) and €251.5m ($284.3m) respectively.

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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