EMEA News
Fratelli Cosulich: Investment Plan Has Paid Off
Last year was Italian bunker and shipping company Fratelli Cosulich's most profitable as it recoreded a turnover of EUR 2 billion ($2.1bn) and Ebitda at EUR 66 million.
According to Augusto Cosulich, who heads up the Genoa-based company, the firm has always been profitable the difference between then and now being the programme of investments he started seven years ago.
"Before in the family, we were scared to invest and do things. And waited," Cosulich told maritime news provider Tradewinds
But over the past six or seven years, he said that the company has invested around EUR 380m.
That investment has produced a bigger fleet with six bunker tankers in Singapore and two LNG bunker tanker in the pipeline as well as additions to its dry bulk fleet.
Among the firm's most recent projects is an ammonia bunker tanker which the company gained initial approval for last month.
