Two Italian-backed shipowners are joining forces to create a new dry bulk venture in Monaco, reports.

Malta-based Navigazione Montanari has partnered with Swiss-based Nova Marine Carriers to create Novamont Dry, which will focus on creating a fleet of chartered-in panamaxes and capesizes when operations start in the new year, adding to a growing cluster of Italian dry bulk firms calling Monaco home.

The new venture will be led by Costantino Mussi and Pietro Repetto, who bring with them enormous experience across the dry bulk supply chain, reported.


PHOTO: Navigazione Montanari’s M/V Vantaneo