Emilia Romagna News

Italy's Emilia Romagna region has approved a project for a new floating LNG terminal off the coast of Ravenna in the upper Adriatic sea, it said on Monday, part of the country's broader efforts to replace dwindling Russian gas supplies. Almost one billion euros ($998 million) in total will be invested in the project, Emilia Romagna's Economic Development Councillor Vincenzo Colla told a news conference. The clearance took only about four months to be secured -- rather than years for similar projects in the past. As part of its energy strategy, Italy is adding two floating storage and regasification units (FSRU) to its existing three facilities. One will be off Ravenna, the other moored in the Tuscan port of Piombino on the other coast.

APM Terminals has confirmed that its new Vado Gateway terminal, located in the Vado Ligure Port Complex, North Western Italy, will be inaugurated on 12 December this year.With the placement of the terminal’s last caisson this week - an important milestone in the build - the commercial team have been actively engaging with the market. The launch commenced with an event at the Genoa Aquarium last month.Future services offered by the terminal were presented to key managers from the main Maritime Companies and Shipping Houses operating in the Italian market.Once operational, the Vado Gateway Terminal will be fully integrated with the existing Vado Ligure Reefer Terminal.Vado Ligure will become the first semi-automated port in Italy with a fully-automated gate and stacking yard.

Italian banking group BPER Banca is financing up to USD 8 million to Augustea Navigation to refinance its acquisition of a bulk carrier built in 2010 under an Italian flag. Watson Farley & Williams (WFW) has advised on the deal.A press release from the  international law firm based in London said that BPER Banca, formerly known as Banca Popolare dell’Emilia Romagna S.C., is a commercial and co-operative bank and the parent of the BPER Group, one of Italy’s leading banking groups. The group focuses primarily on small and medium enterprises with a strong international client base.Augustea Navigation is part of Augustea Group, leading player in the shipping industry…

Pillarstone Italy said on Friday it had finalized the acquisition of 100 percent of Italy's Premuda and would invest 50 million euros ($53.5 million) to support the relaunch of the troubled shipping company. Pillarstone Italy is a platform set up by U.S. private equity firm KKR to restructure ailing companies. The shipping industry is in an eight-year downturn due to slowing international trade. Pillarstone also said Popolare Emilia Romagna had joined rivals Intesa Sanpaolo, UniCredit and Carige in transferring to the platform credits towards Premuda. (Reporting by Valentina Za)

International law firm Watson Farley & Williams (“WFW”) has advised Turkey-based cruise port operator Global Ports Holding (“GPH”) on the acquisition of stakes in companies managing cruise terminals in Italy. Specifically, GPH acquired stakes in the companies managing the Cagliari (Sardinia), Catania (Sicily) and Ravenna (Emilia-Romagna) cruise ports, previously owned by Royal Caribbean Cruises Ltd. (“Royal Caribbean”), Aloschi&Bassani S.p.A. and Bassani Ravenna S.r.l. Royal Caribbean will retain a minority stake in all three companies and Cagliari, Catania and Ravenna ports will remain part of Royal Caribbean’s cruise itineraries. Founded in 2004…

Costa Crociere is expanding its presence in the Benelux countries and in Emilia Romagna. In December 2002, the Genoese company will open one new commercial office in Bologna and one in Brussels, with the aim of significantly strengthening its development on the European market and promoting the Costa trademark in the Benelux countries and in Emilia Romagna. Costa’s new office in Brussels, which is due to open officially towards the end of 2002, will be in charge of sales and promotion of Costa cruises in Belgium, the Netherlands and Luxembourg. It will be managed by Patrick J. Pourbaix, with his assistants Aurelie Vermeulen, responsible for the French-speaking market, and Eveline Vanderstraeten, responsible for the Flemish-speaking market.