L.G.R. di Navigazione Sells Final Vessel Pair

Naples-based shipping company L.G.R. di Navigazione has disposed of two MR2 tankers, the last two vessels in its fleet, VesselsValue’s data shows.

With this move, the company has exited the shipowning business.

The ships in question are Cenito and Posillipo, built at China’s Guangzhou Shipyard International in 2009 and 2010, respectively.

The 52,963 dwt tankers were sold in an en bloc transaction to MSEA Tankers from Jersey for USD 36 million.

Currently, Cenito has a market value of USD 19.66 million and Posillipo of USD 19.96 million.

The two oil chemical tankers of the ice class 1A Super are 183.2 meters long and 32.2 meters wide.

Earlier this year, the company reached an agreement for a USD 28.8 million loan facility, secured by mortgages over the two aforementioned tankers. The financing was agreed with Italian bank Banca Popolare di Milano, according to the law firm Watson Farley & Williams (WFW).

L.G.R. di Navigazione earlier operated a fleet comprising two more chemical tankers, namely the Nisida and Miseno. In April 2017, the ships were sold en bloc to Danish shipping firm Navigare Capital for a price of USD 24 million each.

World Maritime News Staff