Italiano  
 
 
 
 
About us
Home   |>   About us   |>   History
  History
[2002-2003]

In July 2002 the conversion into a FPSO unit  ( Floating Production Storage and Offloading ) of M/T Four Lakes is undertaken, renamed Four Vanguard. Such an operation marks the step-in of the Group into the off-shore oil business industry services, with extremely interesting perspectives of development.Management of the unit is initially assigned to the technical Partner company Vanguard.

The diversification trend of the Group continues entering the market segment of smaller bulk carriers units , in partnership with Romeo Group, based in Naples, with acquisition of various units, both new buildings and used.

Meanwhile the programme of dismissing  obsolete fleet proceeds, with demolition of five single-hull tankers and the conversion, with re-projecting and integral re- construction of one OBO unit into a modern double-hull tanker .

 
[2004]

By means of fractioning shares at 0.50 € of nominal value, a share capital increase is implemented, with consequential value raised up to 67.1 million €.

Within the progressive programme of re-structuring the Group, Premuda Tankers S.p.A. is incorporated into Premuda S.p.A. and Premuda Asia is closed, being it no longer deemed as strategic. Conversely Premuda takes the control of the Company managing the FPSO unit operations in Australia (Australian FPSO Management Company Ltd).

Along with the market contingent trend, particularly sharp, and leading to maximizing profits, during the period 2000/2004 the new buildings ex Korean shipyards are sold, with some of them chartered back on long term basis.

Looking at the expected booming of oil trading from the Baltic area two new Aframax ICE CLASS tankers are ordered ,for delivery 2006.Furthermore a new building contract  is taken over for a new Aframax tanker, for delivery 2005.

 
[2005-2006]

In May 2005 a free capital increase is done ,with assignment of 1 ordinary share every 20.as a consequence the capital is raised up to 70.4 million €

Upon delivery from shipyard, the newly acquired Aframax unit is sold with a significant financial profit.

Important multi-annual chartering contracts ( min 8.5 years-max 10 years ) are signed for the two ICE CLASS tankers under construction and the chartering contract terms of the FPSO unit  are positively renegotiated ( minimum duration up to 2009, with significant time extension options).

The new Company “Sider Navi” is formed, based in Naples, by means of an equally shared participation by Premuda, Romeo Group, Duferco and the IUD ucranian group, operating in the  iron metallurgy field. The Company intends to operate in the 18,000 / 20,000 DWT size range of dry bulkers (minibulk) and has already acquired 2 used units and ordered 6 new buildings.

 

In 2006 regular delivery and multi-year employment of the 2 Ice Class units; the company proceeds with the new investments plan in the dry sector with the shipbuilding contracts signing for handy units (33.000-56.000 dwt).

 

Premuda Chartering Navegaçao Lda., Madeira signed contracts with Samsung korean shipyard for 3 new buildings, 114,700 DWT Aframax Product Carriers, with planned delivery in 2010.

The units will be equipped with full coated tanks, to allow transportation of clean oil products.

The investment is based on a partnership with Ignazio Messina Group and Efibanca Spa, merchant bank of Banca Popolare Italiana Group.

 

 

 
[2007-2008]

In May 2007, due to the new investments in the handybulk range, the Group’s sold the financial participation in Sider Navi Spa. Signed further 10 shipbuilding contracts for handybulk units for delivery 2009/2012 with a total investment of 290 usd/mil.

 

In August 2007 (ordered on past February) the contracts to build 4 handymax bulk carrier units were sold with profit.

 

In March 2008 the subsidiary Brig Shipping Lda. Madeira acquired the 100% share capital of a company owner of the contracts for 2 further 34,000 dwt handy bulk carriers, for expected delivery 2009 (the transaction produces a total investment of about €/mil 48) and in May the company took delivery of Four Shinano, first (out of three) supramax bulk carrier chartered-in on long term time charter (with purchase options).

 

In the first half 2008 the Group started the project for managing its bulk carrier fleet under the U.K. tonnage tax, with a new wholly-owned subsidiary formed, Four Handy Ltd., UK. The Company started its activity in the last part of the year after the acquisition of m/v Four Earth from the sister company Jep Navegaçao Lda.

 

In June 2008 Investimenti Marittimi Spa (60% Navigazione Italiana Spa, 30% Assicurazioni Generali Spa and 10% Duferco Italia Holding Spa) having acquired nr. 3,000 Premuda shares on the market and all the shares previously owned by its shareholders, reached a 50.17% participation in Premuda thus being obliged to launch a Public Purchase Offer on all Premuda shares, at the price of € 1.433 per share (the maximum price paid by Investimenti Marittimi and/or related companies in the previous 12 months).

Once duly approved, the Offer was executed in the period 14th July – 1st August 2008 and Investimenti Marittimi reached through it a 75.474% participation in Premuda (n. 106,238,695 ordinary shares).

 

In the second half 2008 began the conversion of m/t Four Springs into a minicape bulk-carrier, with expected delivery end june 2009 and a fixed 8 year time charter, after conversion.

 

Increase (from 43% to 50%) of the participation in Premuda Chartering Navegacao Lda., Madeira (the company holds 4 shipbuilding contracts of 4 Aframax Product Tanker) due to the exit of Efibanca from the shareholding.

 

 
[2009 - 2010]

 

In the first half 2009 Premuda directly and through subsidiary companies operated actively on sale and purchase market.

 

In April 2009 m/v Four Kitakami, the second of three 56,000 ts dwt supramax units, was delivered to Four Handy Ltd. onto long-term hire-purchase charter.

 

In May 2009 following purchase option declaration at the price of $50mil, Premuda took delivery of the 2001-built suezmax tanker Four Smile. After an initial period of spot trading aimed at obtaining the necessary approvals by the Oil Majors, in July the ship was delivered under a long-term time-charter.

 

In May Premuda also sold for scrap the 1983-built panamax bulker Four Etoiles, with a resulting profit of €/mil 0.40.

 

In June 2009 following purchase option declaration at the price of $32mil, Premuda took delivery of the 2000-built panamax tanker Four Schooner. At the end of the month, Premuda sold the vessel with a profit of approximately €/mil 2.40.

 

In June also M/v Four Mogami, the last of three 56,000 ts dwt supramax units, was delivered to Four Handy Ltd. onto long-term hire-purchase charter.

 

In the first half 2009 Premuda formed the joint venture Four Jolly Spa with Ignazio Messina & C. S.p.A.. The new company will operate under italian flag the 4 Aframax Product Tanker of 115,000 dwt under construction at  Samsung in Korea (the first with expected delivery July 2009)

 

In July 2009, after completion of the conversion into a minicape bulk-carrier, Four Springs (owned by Premuda) finished sea-trials and was then delivered under an 8-year time-charter.

 

In July Premuda also sold the 2000-built panamax bulker Four Coal, generating a profit of approximately €/mil 7.

 

In July the first of 4 aframax-sized 115,000 ts dwt product tankers was delivered by Samsung Heavy Industries. This Italian-flagged ship, named m/v Four Wind, is owned by our 50/50 joint venture with the Messina Group and will operate in the highly specialized and renowned Taurus Pool.

 

It was delivered in late September the first 35,000 ts dwt handysize bulker by South Korea’s SPP Shipyard. The ship, named m/v Four Aida, on delivery has been transferred to our subsidiary Four Handy Ltd. which will operate her under the UK Tonnage Tax scheme.

The shipbuilding contracts for the 2 units SPP (delivery 2010) were also transferred to the same Four Handy Ltd.

 

2010

It’s formalized the deletion of 2 of 4 bulk carrier shipbuilding contracts commissioned to the Vietnam’s Vinashin Shipyard. Installments already paid will be transferred to the two surviving ships after allowing for interest charges and with appropriate refund guarantees in place.

 

In March the second of 4 aframax-sized 115,000 ts dwt product tankers was delivered by Samsung Heavy Industries. This Italian-flagged ship, named m/v Four Sky, is owned by our 50/50 joint venture with the Messina Group and will operate in the highly specialized and renowned Taurus Pool.

Also in March the FPSO Four rainbow (ex Four Vanguard), after the break for repair and renewal of class has resumed production.

 

Between May and June will be taken over by Four Handy Ltd. the 2 units SPP Four Nabucco and Four Otello, bulk carrier of 35,000 ts dwt, both vessels will be operated under the UK Tonnage Tax scheme.

 

During the month of June was signed an agreement for sale to third parties the m/v Four Earth, panamax bulk carrier of 77,100 ts dwt built in 1984. The delivery of the ship, initially scheduled to take place by the end of November 2010, was completed in mid-January 2011.

 

In December a new agreement is reached with SPP Shipyard, aimed to replace the last two handy unit bulk carrier with two Panamax bulk carrier of 76,500 ts dwt, for delivery by the end of September 2013 respectively and the end of March 2014. The agreement was formalized in January 2011, with an additional investment of $ 12.5 million, largely motivated by having meanwhile concluded with a counterpart of absolute reliability a satisfactory long term time charter contract, starting from the deliveries of the two vessels.

In December the associated company Premuda Chartering Navegaçao Lda. (our interest 50%) reached an agreement with Samsung Shipyard in order to substitute the last 2 aframax product carriers with 2 Suezmax Tanker of 158,000 ts dwt, without increasing the total investment. Also in this case the agreements were formalized in January 2011, with contextual transfer of contracts to the associated company Four Jolly Spa (our interest 50%). The 2 vessels will be delivered respectively in late January and late October 2013.

 

 

 
[2011]

In April the subsidiary company Four Handy Ltd. took delivery of the handy bulk carrier Four Rigoletto of 34,400 ts dwt, the fourth unit of this type ordered to the Korean Shipyard SPP.

In August the subsidiary Brig Shipping Lda. took delivery of the handy bulk carrier Four Diamond of 34,000 ts dwt,  first of the 2 units ordered to the Vietnamese Shipyard Vinashin.

In October, the subsidiary Four Handy Ltd. took delivery of the handy bulk carrier Four Butterfly of 34,400 ts dwt, the fifth unit of this type ordered to the Korean Shipyard SPP.

In December has been simplified structure of the Group through merger / liquidation of some companies.

 
[2012-2013]

In April 2012 the subsidiary company Four Handy Ltd. took delivery of the handy bulk carrier Four Turandot of 34,400 ts dwt, the sixth unit of this type ordered to the Korean Shipyard SPP.

Since June the FPSO Four Rainbow, once the charter contract was over, the unit was transferred to Labuan and disarmed whilst awaiting definition of a new project for its use.

In December, the joint venture Four Jolly Spa (in equal share with the Messina Group) sold to third parties, with simultaneous delivery to the delivery by the yard the first of the two units 158,000 dwt Suezmax Tanker, and cancelled the contract for the delivery of the second one, with penalty.

 

2013

In April the subsidiary company Four Handy Ltd. took delivery of the handy bulk carrier Four Emerald of 34,000 ts dwt, the sixth unit of this type ordered to the Vietnamese Shipyard Vinashin.

 

As to the fleet under construction, this is composed by 2 panamax bulk of 76,500 ts dwt.

The units are expected to be delivered in October 2013 and march 2014.

 

 
 
 
< |  Previous Page
 
 
Disclaimer © Copyright 2005 Premuda S.p.A. - C.F. 00103690327 - Powered by Quid web & media