Antonio Zacchello News

Marco Polo Seatrade and its affiliated companies have obtained final approval of their Plan of Liquidation from the New York Bankruptcy Court overseeing the Chapter 11 case. The plan was unanimously approved by all Marco Polo creditors, and the Court entered the final order at the confirmation hearing held today. Antonio Zacchello, managing director of Marco Polo Seatrade, says, “Our companies worked hard with the banks and our creditors to devise a Chapter 11 Reorganisation Plan, but that did not prove possible. Therefore we have agreed to a consensual Liquidation Plan which maximises the recovery for all parties. As provided in the…

U.S. Courts confirm Marco Polo Seatrade Chapter 11 protection and frees vessel. The New York Court supervising the reorganisation of Marco Polo Seatrade and its group affiliates has rejected the motions filed by the Royal Bank of Scotland and Credit Agricole seeking to dismiss the group's US Chapter 11 filings. Both lenders had asserted that Marco Polo Seatrade was not eligible for Chapter 11 protection and had indeed initiated its Chapter 11 case in bad faith. The court rejected all of the lenders' arguments. Antonio Zacchello, MD of Marco Polo Seatrade, says, "We are delighted that the court has confirmed that we acted in accordance with the law and in good faith in starting our Chapter 11 proceedings.

Cargoship Maritime BV and Magellano Marine CV, Netherlands-based vessel operating companies managed by Seaarland Shipping Management BV (Amsterdam) have appointed Lazard and Venice Shipping & Logistics (VSL) as restructuring advisors. They will assist the companies to complete the restructuring process begun last year when thirteen owners of twenty-two vessels with time charters with Cargoship Maritime BV and two bareboat charters held by Magellano Marine CV were asked to agree to modified terms. Antonio Zacchello, managing director of Seaarland Shipping Management said, "Towards the end of last year we asked the owners we partner to adjust with us to the new realities of the marketplace.

Seaarland Shipping Management and Athens-based Roxana Shipping have established a new pool for LR1 tankers. The Global Tanker Pool will be operated from Seaarland’s Asian arm, Seaarland Management Services Singapore, and has commenced operations with six modern LR1 tankers. The pool manager is Karl Arthur Braein, previously head of chartering in Asia-Pacific for ConocoPhillips. Antonio Zacchello, managing director of Seaarland said, “We have committed five new, owned ships and one chartered ship shared with Roxana to the pool, and Roxana has committed four ships with delivery starting by the end of 2009. We aim to attract other long-term-minded owners/operators of LR1 tankers and build the pool to around 20 vessels.

Seaarland group of companies and Motia Compagnia di Navigazione have acted to ensure the safety of their crews, ships and cargoes until the escalating piracy situation off East Africa and in the Gulf of Aden is brought under control. Antonio Zacchello, managing director of Seaarland group of companies and Motia, says, “We at Seaarland and Motia feel we have to act to protect our crews from piracy attack. Accordingly, we have instructed our masters and informed all our customers…

Hamburg-based TB Marine-Hamburg GmbH. Shipbuilding Co for delivery 2011. up Seaarland Shipmanagement (Hamburg) GmbH & Co. KG. our German ships and other ships owned by TB's partners. 2008. German tonnage. Singapore and Indian companies. market. investment group via Aquarius Marine Consulting, Hamburg. approval and newbuilding supervision for TB's projects. Ice Class 1A chemical/product tankers fixed with long term employment.

tankers. Shipbuilding Co and will enter service with the Handytankers pool. welcome these two new vessels to our fleet. aframaxes from China - all due for delivery between 2007 and 2009. The Italian-flag Alice and Aurora will be managed from Venice by Motia. capability of 2,700 cu m/hr with six segregations. speed of 14.6 knots.

from STX Shipbuilding, Korea. Pool. very high quality product carriers. for product tankers. carry Italian crew. STAR HULL NB, +AUT-CCS, VCS, Green Star (Clean Air & Clean Sea). in the cargo area and in way of fuel oil tanks. ballast tanks. submerged centrifugal pumps rated for 450 m3/hr x 130 MLC at S.G. cst. knots at the loaded draft of 10.5 m. 6S46MC capable of burning fuel up to 700 cst. 750 KW aids manoeuvring.

from STX Shipbuilding, Korea. Pool. very high quality product carriers. for product tankers. carry Italian crew. STAR HULL NB, +AUT-CCS, VCS, Green Star (Clean Air & Clean Sea).