World News
Private Equity Group: Strong Return from Eco-Ship Investments
Italian private equity firm Venice Shipping and Logistics (VSL) has purchased its first two eco-design vessels in partnership with d'Amico International Shipping (DIS), news site ANSA reports.
The ships are expected to reduce fuel consumption by an average of 20 to 25 percent when fully loaded and operating at 14 knots.
VSL said the order confirms its "trust in this market and in particular the ability of eco-ship newbuildings to offer, compared to conventional ships, significant benefits in terms of performance, appeal to major international clients, as well as significant return on invested capital."
The company purchased product tanker High Sun from Hyundai-Vinashin Shipyard in Vietnam and bulker Giulia I from Yangfan Group Co. Ltd. in China.
''Our partnership with the d'Amico group enables us to control the highly competitive and performing international assets market,'' said VSL managing director Fabrizio Vettosi, adding that the investment ''will enable us, in the middle- and long-term, to further develop our business and give value back to our investors, obtaining more advantageous rentals and creating possible capital gains'', he added.
Vettosi said the firm is actively supporting banks and ship owners in financial restructuring, as well as companies consolidating their market presence in particular niches.
Some industry observers have recently complained about the influx of private equity-related ship orders, which they say could exacerbate problems with overcapacity.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 511.00 | 6.50 | 590.50 | 2.00 |
| Rotterdam | 451.00 | 7.00 | 597.00 | 8.00 |
| Houston | 450.50 | 4.50 | 602.50 | 14.50 |
| Fujairah | 498.00 | 3.50 | 710.00 | 3.00 |
| Global 20 Ports Average | 526.00 | 6.50 | 700.50 | 6.50 |
| Global 4 Ports Average | 477.50 | 5.50 | 625.00 | 6.00 |
| Global Average Bunker Price | 564.50 | 3.50 | 747.50 | 2.00 |
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