Bulk Carrier Venture Ocean acquired by Pimlico Ltd, a subsidiary of the Fratelli Cosulich Group

The 39,000-ton DWT Bulk Carrier Venture Ocean has been officially acquired by Pimlico Ltd, our subsidiary active in the Shipowning business.

The ship has been named Saturnia, in honour of the Group's historical transatlantic vessel, and becomes the 15th unit in the fleet, demonstrating the strong acceleration that the Group has recorded in the last years in its Shipowning activity. These results are strictly linked to the synergies created between us and our final customers, increasingly becoming  business partners.

Over the years, the Fratelli Cosulich Group has diversified its shipowning business into three main areas: 

• Oil bunker vessel. Active in Singapore, is focused on fuel transportation, 
• LNG bunker vessel. It  pays attention to the new possibilities of using LNG
• Small and medium-sized Dry Bulk Carriers.

And the new Saturnia belongs to this last type of vessel, serving the steel logistics, but not only.

For the latest acquisition, we were assisted by Banca Popolare di Sondrio, Watson Farley & Williams and Studio Turci (with lawyers Furio Samela and Marco Turci).

Banchero & Costa (with lawyers Fuselli, Bellingeri, and Marre) provided us  support in the time-charter of the Saturnia vessel to the company Lauritzen Bulkers.

Stefano Abate CFO of the Grpup, CEO for the Shipowning activities declares: “The outcome seems to confirm that the winning formula could rely just on this: buy when the market curve is far from the maximum point, for a well-defined use, synergistic to our activities, with low debt, perhaps with a coté contract of at least 1 or 2 years with "investment grade" companies.”