Vernicos Scafi, an increasingly active Greek-Italian venture, has bought its most powerful vessel yet, in a bid to upgrade its salvage and towage operations in the Eastern Mediterranean.

The company announced in a statement the purchase of the 4,962-bhp Garibaldo (built 2005). Vernicos Scafi didn’t reveal any details of the transaction but market sources in Athens believe that the Chinese-built vessel has cost more than $4m.