In just over a week the first two eco-newbuildings joined Venice Shipping & Logistics‘ fleet for a total value of 50 million dollars, with the delivery from Vietnam of the ‘High Sun‘ product tanker (in partnership with d’Amico International Shipping) and the ‘Giulia I‘ dry-bulk carrier from China, MF-Milano Finanza wrote last May 30 (download here the press release).
The MR Product Tanker High Sun, delivered byt the Hyundai-Vinashin Shipyard, has a length of 183 metres, a beam of 32 metres, and is of 50,000 dwt, while Giulia I was built at Yangfan in China, of 39,000 dwt, a length of 180 metres and a beam of 30 metres.
Venice Shipping & Logistics is the only Italian private equity operator focusing on the shipping and transport sectors. Vsl’s shareholders are financial investors Palladio Finanziaria and Vega Finanziaria and Italian shipping group d’Amico Società di Navigazione. Vsl’s fleet is made by the two newbuildings and by a tanker ship (Rosalita) in partnership with Italian shipping group Perseveranza di Navigazione (35%) while a fourth ship (a 64,000 dwt bulk carrier Ultramax) is being built by Yangfan shipyards and will be delivered next year.
At the beginning of 2013 Vsl exited Costanza Shipping, a joint venture with Perseveranza di Navigazione (55%), owner of the Cinzia D’Amato bulk carrier.
Vsl reached a 1.5 million euros net profit on 2 million euros of revenues thanks to capital gain from an investment in Turkey in partnership with Vei Capital (a total of 80 millions invested in Global Port Holdings) with a 15% return in less than two years. Vsl has been working har on the advisory side in the last few months, the last mandate having been a support to Palladio’s Vei Capital investment company and to Intesa Sanpaolo bank in buying a stake in Rina spa, parent company of the Rina Group, Italy’s leading E-TIC (Engineering, Testing, Inspection, Certification) service provider (see a previous post of BeBeez).