Ravenna-based Mediterranea di Navigazione has sold the 2012-built gas carrier Excalibur to Dutch gas shipping specialist Anthony Veder for $11m with delivery scheduled for early next month.

The deal was confirmed by Paolo Cagnoni, head of the Italian company, and is part of a wider plan aimed at restructuring the overall financial exposure of the chemical, gas and tankers specialist which exceeds €120m ($140m).

Once the Excalibur is delivered, the Ravenna-based company will be left with nine vessels: bitumen tanker Black Shark, the ethylene carrier King Arthur, and small tankers Normanna, Ottomana, Saracena, Barbarica, Cosmo, Sveva and Shogun.