Italy's Premuda will increase its fleet to 35 vessels as its shareholder continues to mop-up distressed vessels from the Italian market.
The Genoa-based tanker and dry bulk owner expects to add another dozen vessel over the next year.
That will amount to a trebling of its fleet since the installation of a new management team 18 months ago.
Chief executive Marco Fiori said that the additional vessel will come from its shareholder Pillarstone Italy, the restructuring specialist which has been taking over distressed debt formerly owned by Italian shipping companies.
