Augustea, deeply rooted in the maritime culture of Meta di Sorrento, a small coastal city in Southern Italy, has evolved from a local family business into a global shipping leader. From dry bulk shipping, deep-sea towing, and oceanic barge transportation, the company has expanded its reach with offices in Naples, London, Singapore, and beyond. Guided by the Cafiero and Zagari families, Augustea has established a legacy of leadership and innovation in international shipping.
The origins of the Augustea Group trace back to the 18th century with the Cafiero family of Meta di Sorrento. In 1759, Costantino Cafiero began transporting luggage for the Royal Court to Spain, marking the family's entry into maritime activities. His son, Pietrantonio Cafiero, expanded their fleet to Spain and France and, in 1629, established a charity fund to pay for the ransom to pirates who captured sailors, a pioneering initiative ahead of its time.
Throughout the centuries, the Cafiero family adapted to changes in the maritime industry. From sail-powered shipping to steam navigation, they remained resilient amidst technological and market shifts. By the 19th century, the Cafieros pioneered maritime insurance and risk-sharing with companies like "Mutua Sorrentina" and "Compagnia Metese di Assicurazioni," positioning themselves as early leaders in shipping and maritime financial services.
Fleet: Asso Trenta
Fleet: Asso Ventotto
Entrepreneurial Spirit and Generational Transition
The entrepreneurial spirit of the Cafiero family continued through successive generations. In the 20th century, under Salvatore Cafiero's leadership, the group expanded its fleet and ventured into deep-sea towing and offshore services. Salvatore also established a presence in key ports such as Augusta and Syracuse. After his death in 1982, control passed to his daughters—Maria Laura, Paola, Sandra, and Bruna—whose differing views led to a division of the group through a series of corporate splits between 1982 and 1997.
Paola Cafiero, married to Lucio Zagari, acquired control of the segment led by "Augustea Imprese Marittime e di Salvaggi," or simply "Augustea." In 1987, Lucio Zagari became CEO of Augustea Group, and the Zagari family has since owned and controlled the company.
Raffaele Zagari’s Leadership and Maritime Legacy
Raffaele Zagari, a 12th-generation Cafiero-Zagari family member and son of Lucio Zagari and Paola Cafiero, is the current CEO of Augustea Holding S.p.A. since 2015. Leading the group through a period of industry restructuring and economic crises, his career began in 1993 working in shipyards in Japan and London’s commercial division. After gaining external experience, including at Zodiac Maritime, he rejoined Augustea in the late 1990s and focused on freight trading. During the 2008 financial crisis, his emphasis on risk management and strategic partnerships helped the group outperform competitors.
Raffaele initiated a reorganization to shift Augustea away from unsustainable business areas and strengthen its position through alliances with industry leaders, ensuring the company’s resilience in a dynamic global market.
Strategic business initiatives undertaken by the group
1. 2010 to 2021 was marked with significant restructuring (demergers, acquisitions, and new company formations). This restructuring addressed high volatility in the maritime industry, a risk identified by CEO Raffaele Zagari.
2. As part of the restructuring, their port towing business was discontinued.
3. They focused on the core areas of dry bulk cargo and offshore towing services.
4. Post restructuring, they strengthened their operations by diversifying into five companies as follows:
5. Despite COVID-19 challenges, the demand for renewable energy projects bolstered Augustea’s offshore towing operations. The Group anticipates continued growth in this sector.
6. Successful debt restructuring during the pandemic, coupled with increased liquidity from market recovery, strengthened the Group’s financial position
7. Corporate Governance: Augustea adheres to a robust governance framework following the Italian Stock Exchange’s Self-Regulatory Code, ensuring transparency and long-term planning.
8. They are committed to quality, eco-sustainability, and are customer centric.
Augustea Group: Filipino Seafarers
In its journey to becoming a global shipping leader with about 50 ships and 15 international branches, Augustea’s deep maritime heritage and adaptability continue to drive its success.
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