Italian tanker and bulker owner and operator Premuda has signalled it is entering a period of fleet renewal.
The Marco Fiori-led company has taken on two loans amounting to $105m from ING Italia, some of which has gone to the refinancing of two product tankers, PS Singapore and PS Sydney, which are already under Premuda management.
Premuda said in a release that the two recent transactions mark the beginning of a “new wave of fleet renewal”.
In May, Premuda concluded a management buyout led by its top executives.
The deal spearheaded by chief executive Marco Fiori and chief of finance Enrico Barbieri has seen the acquisition of 100% of the share capital in the Genoa-based company for an undisclosed sum.
The transaction was backed by Milan-based pan-European investor Pillarstone, which has stayed on as a co-shareholder.
Pillarstone became the sole shareholder of Premuda and delisted the company, whose history dates back to 1907, from the Milan Stock Exchange in 2017.
