The Dry Bulk market is witnessing the birth of a new all-Italian shipping company, Novamont Dry. It has been set up as a result of the partnership between Montecarlo-based Navigazione Montanari and Swiss-based Nova Marine Carriers.
The joint venture is due to start operating in early 2023. It will be based in Monte Carlo. The two shipping companies will each have a 50% stake in the newco.
According to specialized sector magazine www.splash247.com, the joint venture will be led by Costantino Mussi and broker Pietro Repetto, a partner with a 50% stake in Nova Marine. The Romeo and Duferco family own the other 50%.
Translation by Giles Foster