Boston Carriers Inc. (fka BSTN)

[SirScalpAlot]

Here's something odd: I found the following article in an Italian newspaper

http://www.staffettaonline.com/articolo.aspx?ID=283289

I subscribed for free on a trial basis and used google translate to have the full article in English. So this is what you get:


"Deposit Cremona, New Abibes denies Boston Carriers
"We do not sell, long-term investment"
Life of Societies - Associations

"The company Nuova Abibes has not been sold and is still under the control of the company MS Distribution". The general manager of the company, Federico Careri, writes to the Staffetta in relation to the news released by the Greek shipowner Boston Carriers. In a note released yesterday (available in attachment), Boston Carriers claims to have signed an exclusive agreement for the acquisition of Nuova Abibes, the company of the Czech investment fund MS Distribuzione that last December bought the company of Adriano Binda Beschi after bankruptcy.

"There is no intention to sell the shares - Careri emphasizes - and no exclusive agreement has been signed for the sale of partial or total shares either with Boston Carriers or with other companies. The investment of MS Distribution is of long duration and aimed at building a stable presence in the LPG market in Italy ".

Nuova Abibes has a LPG depot in Cremona with a capacity of 20,000 cubic meters (6 buried tanks of 3,000 cubic meters and 2 tanks of 1,000 cubic meters). The depot is connected to the national railway network, has an internal parking lot that can accommodate up to 40 iron-cisterns and is equipped with a dedicated dock for the mooring and unloading of river gastries coming from the Adriatic Sea, via the river Po. it is equipped with 10 loading / unloading bays, of which 6 are dedicated to the tankers and 4 bivalents for tanker trucks and / or iron-tankers and insists on an area of ??over 50,000 square meters.

In the note, Boston Carriers claimed to have signed an agreement on April 24 for the acquisition of all the assets and liabilities of Nuova Abibes. According to the shipowner, the agreement would provide six months for the acquisition, with a preliminary assessment of the activities of the plants and equipment of approximately 21.6 million euros and liabilities for approximately 6.5 million euros. "This - underlines the note - is a first step for Boston and Nuova Abibes to explore synergies, identify opportunities for acquiring LPG gas carriers and storages and create an integrated platform for the transportation, importation and distribution of LPG in Italy ". Antonios Bertsos, president and chief executive of Boston Carriers, said: "This is the perfect time to enter the LPG transport and distribution industry. The demand for LPG is growing and will become stronger as the world is moving towards clean energy ".

Is this some kind of fake news? Was the acquisition of the 2nd vessel another instance of fake news?

Is Bertsos doing same crap that his previous employer did with Transasia?

I will be deeply disappointed in case the above is true,

GLTA