EMEA News
Giuseppe Bottiglieri Assures Bunker Suppliers Payments Will Be Made as Normal
Giuseppe Bottiglieri Shipping Company S.p.A. (Giuseppe Bottiglieri) Thursday issued a statement assuring bunker suppliers and other creditors that the company is not in financial trouble and suppliers will be paid as normal, TradeWinds reports.
"All of our vessels have been and remain on charter to first class companies, so bunker suppliers will all be paid, or have been paid, within the normal periods of credit extended by the relevant suppliers," said the company in a statement.
"There is therefore no need to fear any interruption to the services of our fleet and, as far as we are concerned, it is very much 'business as usual'."
As Ship & Bunker has previously reported, the company said it filed for court protection last month because of Italian accounting laws, not because of debts.
The company again confirmed on Thursday its restructuring efforts "are not to be confused with the very different kind of bankruptcy protection procedures sought recently by companies in severe financial difficulty."
Giuseppe Bottiglieri is noted to operate 11 dry bulk carriers and four petroleum product tankers of a collective estimated value of $190 million.
