Bunge and Augustea Atlantica S.p.A. form partnership with York Capital

Augustea Bunge Maritime Limited, a joint venture company of Augustea Atlantica S.p.A. and Bunge Limited (BG) announced the formation of a new joint venture with York Capital Management. The new company, ABY Holding Limited, will operate an independent fleet of ocean-going dry-bulk vessels. The Malta-based venture intends to grow through the acquisition and chartering of modern ships. The ABY fleet currently includes two ships that are in-service, the ABML Eva (106kdwt, built in 2012) and the ABML Grace (172kdwt, built in 2002). ABY also owns three additional ships that are under construction at top Japanese shipyards. ABML will bring the combined expertise of its partners to the new venture, with Augustea providing technical management and a Bunge subsidiary providing advisory services.