Giuseppe Bottiglieri Shipping

Giuseppe Bottiglieri and Mariella Bottiglieri have been ousted from Giuseppe Bottiglieri Shipping Company (GBSC). Giuseppe Bottiglieri established bulker and tanker owner Giuseppe Bottiglieri Shipping Company (GBSC). In 2017, Naples-based shipowner and operator Giuseppe Bottiglieri Shipping Company (GBSC) filed for court protection and the company was taken over by private equity fund Bain Capital. Consultants Alvarez & Marsal was appointed by private equity fund Bain Capital. Italian shipowner and operator Giuseppe Bottiglieri Shipping Company’s (GBSC) three BOD (Board of Directors) were replaced with three executives from consultants Alvarez & Marsal. Giuseppe Bottiglieri was angered by appointing consultants with limited shipping experience. Giuseppe Bottiglieri Shipping Company (GBSC) has been running out of cash and is anticipated to report a net loss at the end of the year. At the beginning of 2020, Giuseppe Bottiglieri Shipping Company (GBSC) exited the tanker sector by selling all tankers. Giuseppe Bottiglieri Shipping Company (GBSC) has been led by CEO Mariella Bottiglieri. Giuseppe Bottiglieri Shipping Company (GBSC) has been working on a company restructuring plan. Currently, Giuseppe Bottiglieri Shipping Company (GBSC) controls a fleet of ten (10) post-panamax bulk carriers. 6-October-2020

 

Italian shipowner and operator Giuseppe Bottiglieri Shipping Company (GBSC) decided to wait on scrubbers and focus on low sulfur fuel availability. According to Giuseppe Bottiglieri’s MD Mariella Bottiglieri, Giuseppe Bottiglieri Shipping Co (GBSC) will focus on resolving issues related to low sulfur fuel availability and compatibility when the IMO (International Maritime Organization) bunker sulphur rules come into force on January 2020, while taking a wait-and-see approach on scrubber installation. Giuseppe Bottiglieri Shipping Co (GBSC) has a fleet of 15 ships. Giuseppe Bottiglieri’s MD Mariella Bottiglieri revealed her obnoxious experience when the IMO (International Maritime Organization) lowered the sulphur limits to 0.1% in bunker fuels in the emission control areas (ECA) back in 2015. In 2015, when the IMO (International Maritime Organization) lowered the sulphur limits to 0.1% in bunker fuels, Giuseppe Bottiglieri Shipping Co (GBSC) had a ship at Portugal loading a cargo to ship it to Europe. There was no compliant bunker available at that time at Portugal port, Giuseppe Bottiglieri Shipping Co (GBSC) simply had to leave the cargo. Many refineries have been boosting production of IMO (International Maritime Organization) compliant bunkers, Giuseppe Bottiglieri Shipping Co (GBSC) pointed out fuel compatibility could be another significant matter. According to IMO (International Maritime Organization) 2020 regulations, the global sulphur cap in marine fuels will be lowered from 3.5% to 0.5% starting from January 2020. Bunker suppliers have suggested Low-Sulphur Fuel Oil (LSFO) from different producers should not be mixed until the International Organization for Standardization establishes a common specification for the product. Technically, Giuseppe Bottiglieri Shipping Co (GBSC) has begun arrangements for its fleet of four (4) MR product tankers, one (1) capesize, and ten (10) post-panamax bulkers, such as tank and pipeline cleaning. Ships installed with scrubbers will be allowed to continue consumption of the cheaper 3.5%-sulphur bunker oil. Giuseppe Bottiglieri Shipping Co (GBSC) would only decide on whether to invest in scrubbers when there are clearer price signs in the bunker market. IMO (International Maritime Organization) has also targeted to cut carbon emissions by at least 40% from 2008 by 2030 and greenhouse gas emissions by 50% by 2050. Giuseppe Bottiglieri Shipping Co (GBSC) would analyze how to diminish emissions from its fleet in the near future. According to Giuseppe Bottiglieri’s MD Mariella Bottiglieri, Giuseppe Bottiglieri’s foreseen ship investments would be technology-focused though admitted any extra expenses would need to be covered by freight earnings. Italian shipowner and operator Giuseppe Bottiglieri Shipping Co (GBSC) was established in 1850. Giuseppe Bottiglieri Shipping Co (GBSC) has lately completed financial restructuring with private equity partner Bain Capital Credit. Previously, there were reports that Bottiglieri Giuseppe Bottiglieri Shipping Co (GBSC) may have to sell its four (4) product tankers in a $30 million arrangement to pay its creditors. However, MD Mariella Bottiglieri stated that product tankers remained with Giuseppe Bottiglieri Shipping Co (GBSC). Giuseppe Bottiglieri Shipping Co (GBSC) will be retained as a family business in the future. Giuseppe Bottiglieri Shipping Co (GBSC) would maintain its business strategy and focus on long-term investments with remaining associates. 17-September-2019

 

Italian shipowner and operator Giuseppe Bottiglieri Shipping Company (GBSC) moves towards a restructuring scheme with moneylenders. Giuseppe Bottiglieri Shipping Company (GBSC) has a somewhat unconventional sort of bankruptcy protection scheme and installments to mortgagers will proceed to be delivered in time. Italian shipowner and operator Giuseppe Bottiglieri Shipping Company’s all dry bulk carriers have been on charter to first-class corporations and all bunker suppliers have been paid. In December 2016, Giuseppe Bottiglieri Shipping Company (GBSC) appealed to Italian courts to grant 180 days to provide a plan for the restructuring of mortgages with moneylenders. 2-March-2017

 

Italian bulker and tanker owner Giuseppe Bottiglieri Shipping Company (GBSC) filed for a mortgage protection plan and attempt debt restructuring after being hammered by shipping crises. Italian shipowner Giuseppe Bottiglieri Shipping Company (GBSC) has commenced on a debt restructuring agreement with its mortgagers. Italian bulker and tanker owner Giuseppe Bottiglieri Shipping Company (GBSC) filed a petition in line with Italian bankruptcy law on 29 December 2016. Italian shipowner Giuseppe Bottiglieri Shipping Company (GBSC) will analyze to restructure mortgages in line with article 182 of the Italian Insolvency Law. Italian bulker and tanker owner Giuseppe Bottiglieri Shipping Company (GBSC) has lately provided a new business and financial plan which is under the review of the mortgagers. Due to fleet depreciation and negative currency, Giuseppe Bottiglieri Shipping Company (GBSC) filed a petition. Currently, Giuseppe Bottiglieri Shipping Company (GBSC) has a fleet of 11 dry bulk carriers and 4 tankers. 26-January-2017