A 12-year-old post-panamax has headed to Greece after a sale that marked the exit of Italian private equity investor DeA Capital Alternative Funds from bulkers.
The 93,300-dwt Chiara D'Amato (built 2009) has been sold to Greek interests, according to a statement on Wednesday by law firm Watson Farley & Williams (WFW), which advised DeA on the deal.
The Chinese-built vessel was sold "at her market price, enabling DeA to exit the dry bulk sector", WFW said, without elaborating on the buyer.
According to IHS Markit, the ship has been already renamed Uno and is in the managed fleet of Stamatis Molaris-controlled Alma Maritime.
The Chiara D'Amato used to be in the fleet of Perseveranza di Navigazione, a traditional Naples company run by the fourth generation of Italy's D'Amato family. It passed under DeA control earlier this year following a debt restructuring agreement, WFW said.
TradeWinds has already reported on how Perseveranza has engaged in debt restructuring arrangements with DeA and Pillarstone Italy, a financial advisor representing private equity interests that have been expanding rapidly in Italian shipping in recent years.
Chemnav on the move
Pillarstone is in selling mode as well, readying to offload two MR product tankers managed by Italian tanker company Premuda.
According to ship management sources, Coronis family-controlled Chemnav Shipmanagement is in advanced talks to buy the 50,900-dwt PS Houston (built 2008) and 50,200-dwt Grazia (built 2010).
A deal for the two ships is still on subjects, TradeWinds was told.
The vessels have been circulating for sale since September alongside the 50,900-dwt PS London and 50,500-dwt PS Milano (both built 2008), as TradeWinds reported at the time.
According to IHS Markit, the four tankers used to belong to Italian peers PB Tankers and Motia Compagnia di Navigazione.
After debt restructurings, however, they passed in 2019 and 2020 under the ownership of Finav, a private equity fund established by Davy Global Fund Management and Pillarstone Italy.
Pillarstone Italy is a Milan-based turnaround specialist backed by KKR, which also controls Premuda.
Pillarstone managers did not immediately respond to a request for comment.
