WFW advises Euromont and Navigazione Montanari on €35M product tanker acquisition financing

May 13 2021

Watson Farley & Williams (“WFW”) has advised Euromont Shipping Company S.p.A. (“Euromont”) and Navigazione Montanari S.p.A. (“Navigazione Montanari”) on c.€35m loan granted by illimity Bank S.p.A. (“illimity”) for the renewal of Navigazione Montanari’s fleet.

The six-year loan is backed by Italian export credit agency SACE through its “Garanzia Italia” facility and was partly used by Euromont for the purchase of two product tankers, both of which were built in 2013 in South Korea and originally flew the Singapore flag. The vessels are currently registered in the Genoa International Register as the “Valle Luna” and “Valle Sole” and are equipped with electronic engines that regulate combustion to minimise atmospheric pollution.


Euromont is a company wholly owned by Navigazione Montanari. Founded in 1889, the Navigazione Montanari Group specialises in shipping products for the oil and petrochemical sectors and counts among its clientele the leading operators in those sectors.


The WFW Italy Maritime team advising on the transaction, including the purchase of two product tankers by Euromont, was led by Partner Furio Samela, assisted by Associates Sergio Napolitano and Noemi D’Alessio.


Related News

John T. Essberger Group to build four 6,600 DWT chemical tankers

(May 27 2021)

The John T. Essberger Group announced that they have signed final agreements with China Merchants Jinling Shipyard Dingheng Co. Ltd to build 4 x 6,600 DWT stainless steel parcel chemical tankers with options for an additional four vessels.

Grindrod Shipping announces completion of tanker sales and related debt repayments

(May 27 2021)

Grindrod Shipping Holdings Ltd. (“Grindrod Shipping” or "Company" or “it” or “we”), a global provider of maritime transportation services predominantly in the drybulk sector, announced the completion of the following transactions and related debt re...

Collapsed Singapore oil trader founder appeals $20 million order

(May 27 2021)

Lim Oon Kuin, founder of collapsed Singapore oil trader Hin Leong Trading (Pte.) Ltd, appeals court order to return funds family took out of unit just before filing for protection last year.

Scorpio Tankers Inc. announces purchase of call options

(May 27 2021)

Scorpio Tankers Inc. (“Scorpio Tankers,” or the “Company”) announced that the President of the Company, Robert Bugbee, has purchased call options on an aggregate of 500,000 common shares (or 5,000 call option contracts) of the Company for total consi...

Castor announces deliveries of M/V Magic Nebula, M/T Wonder Vega and M/V Magic Starlight

(May 27 2021)

Castor Maritime Inc., (“Castor”, or the “Company”), a diversified global shipping company, announces that:

June-July 2021

Stena Bulk and decarbonisation - how BHP makes decarbonisation work financially - update on worldwide piracy - managing security risks of ECDIS - tanker inert gas systems