Petros Pappas-led Oceanbulk Maritime and Raffaele Zagari-led Augustea Holdings have thrown their hat into the ring for the indebted fleet of Giuseppe Bottiglieri Shipping Co.

The Greek and Italian owners are understood to have made a restructuring offer via a joint-venture company whereby they could secure the fleet of the Naples-based tanker and bulker owner, according to Italian sources and press reports.