About Us
Parent of Augustea group of companies, established in 1955 by Salvatore Cafiero in Naples, Italy, Augustea Holding SpA is the controlling shareholder of companies providing sea transportation and marine services, mainly operating in the following business segments:
dry bulk shipping
heavy lift and project management
ship management and crewing
Augustea also holds investments in primary companies operating in the same business.
Over the decades, and under the control of the Cafiero family, Augustea has grown to become a reputable player in the shipping industry, with the headquarters in Italy (Milan), and interests in operating companies in Malta, Greece, Argentina, Singapore, Philippines, Indonesia and UK.
History
Augustea Holding SpA is owned and controlled by the Cafiero family, originally from Meta di Sorrento, a small town of ship-owners and seafarers situated in the Bay of Naples, whose shipping interests date back to the 17th century.
Historically, Sorrento has always been an important shipping centre: since early Greek and Roman times, adventurous people, from this area, navigated the Mediterranean and even beyond. Over the centuries, the Sorrento shipping community thus became an economic pillar of the Kingdom of the Two Sicilies and, later, of the Italian maritime industry.
The Cafiero family shipping interests go back to 1629, when Pietro Antonio Cafiero established a charitable fund for the release of sailors captured by pirates. Today, another member of the family, Pietrantonio Cafiero, ocean-going master, is still a valuable advisor in Augustea for technical towing topics.
Early in the 19th century Salvatore Cafiero founded the local Sailors' Mutual Society and became director of the "Steamship Navigation Company of the Sorrento Peninsula". In 1850, the shipping interests of the Cafiero family were entered into Lloyd's Register.
In 1955 Salvatore Cafiero, Captain with Lauro’s fleet and for many years in charge of the chartering department, founded the company “Augustea” to participate in the development of petrochemical ports of Augusta and Syracuse, in the eastern coast of Sicily, by providing harbour towage services.
In 1964, Salvatore Cafiero added the deep-sea shipping business at the towing activities and continued to develop both businesses until he died in 1982.
The generation that followed continued and expanded his work, promoting and consolidating the international growth of the Group.
Since the 1980s, Augustea has complemented it's port operator activities with the ownership of offshore vessels, tugs, and barges, operating both in the Mediterranean and in oceanic areas.
Over time, the management of dry bulk ships has been consolidated, operating both owned and chartered vessels, also forming partnerships with leading operators in the sector. Augustea's presence has gradually expanded beyond Italy, with the opening of offices in London, Buenos Aires, Singapore, Malta, and Athens.
Thanks to joint ventures with local operators, since 2014, Augustea has also been active in the ship manning sector for Filipino and Indonesian crews.
Today, Mr. Raffaele Zagari, grandson of the founder Salvatore Cafiero, is the group Chairman and Chief Executive Officer.
Timeline
1955
Salvatore Cafiero establishes Augustea to provide towage services in the Sicilian port of Augusta (Italy)
1963
Augustea expands it's towage activities to other Sicilian ports and also starts operating a deep-sea cargo vessel fleet
1998
Augustea reinforces it's presence in London incorporating Augustea Shipping Services, active in chartering, insurance and post-fixing activities
2000
Augustea acquires Argentinean dry bulk operator Marifran Internacional from the Dreyfus Group
2004
Augustea acquires Anchor Marine Transportation, UK’s largest operator of deep sea barges
2007
Augustea and Oceanbulk set up AOM, a joint venture to expand the dry cargo business
2007
The Group expands it's activities opening a new office in Singapore
2007
The company Augustea Grancolombia SAS is incorporated to manage harbour towing operations in the port of Santa Marta (Colombia), primarily serving the local coal mines
2011
The deep sea barges activity is relocated to Malta
2013
ABML sets up ABY, a joint venture with the private equity firm York Capital Management
2014
Augustea acquires a minority interest in the Pilipino company Augustea Ship Manning Philippines Inc., providing crew management and training to several kinds of ships (dry and liquid cargo, tugs, ferries, transhipments)
2018
Investments held in Maltese companies owning 16 bulk carrier ships are sold in exchange for shares in Star Bulk Carriers Corp., a company listed on the NASDAQ exchange in New York
2021
Through the company Iblea Ship Management Ltd, a new office is opened in Athens to strengthen and improve the provision of technical services
2023
Augustea joins local partners in an Indonesian joint venture specialised in crew management services, from recruiting and training Indonesian seafarers to managing payroll and compliance
Our Vision and Mission
Our Mission
Augustea Holding SpA subsidiaries have the mission to deliver safe, reliable and sustainable shipping services, encompassing both vessel ownership and comprehensive management solutions. We are committed to providing services of the highest standard with minimal environmental impact. We strive to build lasting value for our stakeholders through high ethical practices and a continuous focus on innovation in the maritime industry.
Our Vision
Augustea's operating philosophy is "Respect to the Seas". It is strongly embedded in everything Augustea strives to accomplish and has a strong adherence to a clear set of principles and values that support its philosophy.
Core Values
Safety - protecting our best asset: the people that run our ships. A safe working environment is the basic building block upon which Augustea is built.
Efficiency - never leaving stones unturned. Being part of a logistical chain requires a proactive response. We always strive to explore old and new challenges from different perspectives to still every ounce of effectiveness, by renewing and strengthening our fleet and by diversifying into related markets.
Trust - being part of the inner circle of our client. In today’s highly competitive world, Augustea is committed to integrity and considers fair relationships as a pillar of the daily business. Our clients must feel we are fully on board with their everyday needs without ever compromising their information edge.
Drive to performance - always raising the bar of excellence. By constantly challenging ourselves, we stay relevant and competitive. Teamwork is one of our key strengths.
Quality - Protecting our crews. Respecting the seas. Serving our clients. Augustea Holding subsidiaries operate in compliance with the main industry regulations and certifications, as a testament to our commitment to the total quality philosophy as a pre-requisite of long-term profitability.
Diversity & Inclusion - Committed to foster a workplace culture that celebrates diversity and promotes inclusion. We provide equal opportunities to everyone.
Corporate Governance and Social Responsibility
Our Corporate Governance framework is founded on the principles of transparency, accountability, and ethical conduct. It defines the structures, policies, and processes through which strategic decisions are made and oversight is exercised. We are committed to upholding the highest standards of governance to safeguard stakeholder interests and ensure long-term, sustainable value creation.
At the heart of our governance model lies our Ethical Code of Conduct, which outlines the principles and values that guide our conduct and decision-making. It serves as a fundamental reference for all employees, management, and partners, reinforcing our dedication to ethical behaviour and corporate responsibility.
Social Responsibility represents the organization’s commitment to contributing positively to the well-being of the community, the environment, and individuals. We believe that business success is inextricably linked to the ability to generate a positive impact on society as a whole.
Should you wish to consult our Corporate Governance document, please submit a request via the 'Contact Us' section.
Below you will find links to the Ethical Code of Conduct and Social Responsibility.
Our People
Raffaele Zagari
Group CEO and COO Dry Bulk ShippingIn his career, he has developed 30 years experience in the shipping business. Since 2010, as CEO of Augustea Group, Mr Zagari engineered and implemented the expansion and consolidation of the dry bulk business that has led to the incorporation of Augustea Atlantica, and its subsidiaries in Argentina, Singapore, London and Malta.
He has actively promoted the incorporation of CBC, AOM, ABML and ABY, the joint ventures in which Augustea participated as shareholder. He has funded the towage company Augustea Grancolombia in the Santa Marta area in Colombia and he has, over the years, worked closely with Drummond Coal and Glencore on their logistical/maritime needs for their local coal loading operations, which have a combined 50 million tons yearly throughput.
During this time he supervised in excess of 50 sale and purchase projects (both new building and second hand), and more than a dozen long-term ship leases primarily with the support of Japanese conglomerate Mitsui & Co. Since 1997, he has been actively leading the Chartering Department of Augustea Dry Bulk Division, and directing the other business of the Augustea Group. In 2017, Raffaele was appointed Chairman of Augustea Group Holding SpA, in addition to his role as the Group’s CEO. He is also appointed as non-executive director in Steamship Mutual, one of the largest P&I marine insurance company.
Since 2018 he also seats at Star Bulk Carriers Corp. (NASDAQ: SBLK) Board as non exec Director. Mr Zagari holds a Diploma in Commercial Operation of Shipping at Guldhall University London.
Massimo Piotti
Accounting, Tax and IT DirectorHe graduated in Economics from the University of Naples in 1990. In 1992, he obtained certification as a Chartered Accountant, and, since 1995, has been registered in the Official Register of Statutory Auditors.
He joined Augustea in 1998, and, in 2002, assumed the role of Administrative Director for the group, overseeing administrative services and management reporting. Since 2005, he has also coordinated the group’s Information Technology (IT) operations, which span across three continents.
He has played an active role in Augustea’s industrial expansion, contributing to acquisitions in Argentina and the United Kingdom, and supporting the establishment of new offices in Singapore and Malta.
From 2018 to 2021, he served as Chief Financial Officer (CFO) of a newly established Maltese company that acted as technical manager for a fleet of 24 vessels owned by publicly listed companies. In this capacity, he contributed to the implementation of technical and administrative systems for procurement, budgeting, and client reporting, as well as to the consolidation of existing joint ventures in the Far East for crew management.
He currently serves on the boards of directors of some Italian subsidiaries. From 1990 to 1998, worked at PWC as an auditor, gaining substantial experience, particularly in industrial sectors.
Maurizio Pavesi
Group CFOGraduated in Economics from the University of Naples in 1982. He joined Augustea group in 1991 as financial advisor. Prior to this he was a partner at Fincon, a financial advisory boutique.
Maurizio has extensive experience in M&A, investment banking, debt financing and ratings advisory. During the years 2006 to 2008 Maurizio was Italian senior advisor to UBS Investment Banking with extensive coverage on private and public sector entities.
From 1994 to 2005 he was Senior Advisor to Merrill Lynch, contributing to the expansion of the bank in the Italian market. Prior to 1994 Maurizio worked in Sige/Italfinanziaria Internazionale, a private equity firm owned by IMI, and Sofiban, an asset management company. He was lecturer in finance at the universities of Rome and Naples.