Port & Cargo	BANKRPUTCY: Deiulemar Shipping goes bust
Writer	관리자	Date	2012-10-12	Hits	8,489
BANKRPUTCY: Deiulemar Shipping goes bust ITALIAN dry bulk specialist Deiulemar Shipping has gone bankrupt with debts of more than ~500m ($643.9m), a lawyer representing the company has confirmed. "Deiulemar Shipping was declared bankrupt by the court of Torre Annunziata this week," Astolfo Di Amato told the Reuters news agency. Naples-based Deiulemar Shipping was founded by the sons of the owners of another shipping concern, Deiulemar Compagnia di Navigazione, which was also declared bankrupt earlier this year owing around ~860m, mostly to bondholders. Pasquale and Angelo Della Gatta, together with Leonardo Lembo, all aged in their 40s, have been held in a Naples prison since Italian police seized company assets in July. Other family members were placed under house arrest. A combination of dire freight market conditions and the earlier implosion of Deiulemar Compagnia appears to have dragged down the younger company, which was formed in 2005 as a vehicle for the younger generation of the three founding families. Deiulemar Shipping had earlier submitted a restructuring proposal to the court in a bid to avoid formal bankruptcy and liquidate itself with a view to selling its assets and partly repay creditors. However, the company appeared to cave in to the inevitable after seizure of another two vessels last month. Creditors of commercial dry bulk operator Deiulemar Compagnia, a prominent charterer that had few assets of its own when it collapsed earlier this year, went after the other family firm claiming that the companies in effect comprised one group. The creditors include about 10,000 private bondholders, mostly in Deiulemar's home town of Torre del Greco, near Naples, who are estimated to be owed about ~800m. The collapse of the Deiulemar companies has been described as Italy's biggest corporate collapse after the bankruptcy of the Parmalat dairy group. Parmalat was allowed to rise from the ashes, but a similar revival is unlikely for Deiulemar Shipping as a court-appointed liquidator will almost certainly want to sell off its fleet. The company's website lists 13 vessels. "Although the two companies were separate, the situation with Compagnia has triggered the failure of the second company," said one Italy-based shipping source. "The sale of Ledi Shipping with two vessels last year from one company to the other was contested by judges and those assets were seized, which was one problem," he said. "Also the market saw them as connected and felt that Deiulemar Shipping was in trouble as well, so they were having problems dealing with charters and suppliers." Lloyd's List revealed the first signs of trouble at Deiulemar Compagnia last January, when the Italian operator was reported to have proposed that shipowners accept a haircut on period charter rates. END SNSID:COMPASS-1
Attach

Prew ▼	이전글이 없습니다.
Next ▲	그리스 선복량, 사상 최대치 기록