January 17 - Navemar of Italy is the latest company to fall victim to the shipping downturn, writes HLPFI's Italian correspondent, Nicola Capuzzo.

The company based in Monte di Procida (Naples) and owner of two general cargo ships frequently used for project cargo shipments was declared bankrupt and liquidation proceedings have commenced.

Navemar was formally founded in 2003 following the subdivision of some small shipping companies. At the helm of the company there was the long standing owner Tommaso Scotto Lavina, which also offered technical and commercial ship management services.
In 2004 the company purchased two general cargo vessels of 6,000 dwt capacity (named Artne and Traden) and a few years later added other tonnage to its fleet (modern multipurpose - tweendecker ships) thus entering into the project cargo and breakbulk market.

In 2007 Navemar, together with other companies part of the newly formed Canadry group, ordered in China two 8,050 dwt ships deployed mainly in the Mediterranean area and sold in 2012 to Ve-Na di Navigazione.
As of today the two 8,150 dwt general cargo ships remaining in Navemar's fleet (Lady Gloria and Lady Gaia) are currently laid up in Venice and in Naples and are due to be sold at auction by the Court.