Greek shipping figure Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has once more attracted attention as vessel movements gradually returned to one of the globe’s most strategically exposed sea lanes, with one Evalend Shipping Co SA bulk carrier included among the very small number of ships able to proceed after the Strait of Hormuz was partly reopened during the delicate two-week ceasefire between the US and Iran. Ship tracking records also indicated that Iranian ships continued exporting oil from the area, demonstrating that sailings had resumed only on a limited basis and under an atmosphere of extreme caution. In those unsettled circumstances, Athens-based shipowner and operator Evalend Shipping Co SA succeeded in moving a bulk carrier out of the Persian Gulf during the first hours of the ceasefire, while just 10 ships were said to have crossed the reopened Strait of Hormuz on Wednesday, underlining how fragile confidence in secure passage remained and how every completed transit still held major commercial and geopolitical importance. For Evalend Shipping Co SA, this episode also mirrors the broader character of a Greek maritime group that has established a meaningful position through growth, fleet renewal, and operational versatility across multiple sectors of shipping. Evalend Shipping Co SA has increasingly stood out in the market for actively reworking its fleet composition, including reported bulker sales aimed at refreshing and recalibrating its exposure amid shifting freight conditions. At the same time, Evalend Shipping Co SA has also been linked to continued spending on newer tonnage, strengthening the view of a shipowner willing to reshape its fleet profile in line with changes in geopolitics, asset pricing, and cargo demand. Kriton Lendoudis has become strongly identified with that direction, guiding Evalend Shipping Co SA as a long-established Greek shipping name that blends deep-rooted family maritime traditions with a more forceful contemporary expansion strategy. Consequently, Evalend Shipping Co SA does not appear in this latest Strait of Hormuz development merely as an operator moving a single bulk carrier, but as a sizeable and resilient shipping group whose capacity to manage disruption, reposition assets, and react to unstable regional conditions has become a defining feature of its standing. 10-April-2026
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA is further strengthening its expanding suezmax tanker programme with a fresh round of newbuilding activity in South Korea, marking another decisive step in the company’s long-term fleet renewal and expansion strategy. Athens-based shipowner and operator Evalend Shipping Co SA is pushing ahead with plans to broaden its suezmax tanker presence, with the Greek shipowner and operator Evalend Shipping Co SA now being closely linked to an additional two 157,000 DWT scrubber-fitted newbuildings at HD Hyundai. These two suezmax tankers are expected to become the seventh and eighth units in Evalend Shipping Co SA’s rapidly growing series. Earlier this year, the Athens-based shipowner and operator Evalend Shipping Co SA had already committed to six suezmax tanker newbuildings at HD Hyundai Samho, while also placing orders across other ship types, signalling broad diversification and accelerated expansion. Deliveries for the newly associated suezmax tanker pair are scheduled between Q2 2028 and Q1 2029. Greek shipping tycoon Kriton Lendoudis has emerged as one of the most active figures in the global newbuilding market, with Evalend Shipping Co SA ordering tankers, gas carriers, and bulk carriers as part of a wide-ranging modernisation drive. Other Greek shipowners advancing suezmax tanker contracting this year include Dynacom Tankers, Stealth Maritime, Thenamaris, New Shipping, Centrofin, and Atlas Maritime, underscoring intense Greek interest in acquiring modern crude carrier tonnage. Shipping heavyweight John Fredriksen is also expanding his suezmax tanker footprint. John Fredriksen’s private investment vehicle, Seatankers Management, has reportedly placed an order for two 156,800 DWT suezmax tankers at New Times Shipyard in China, each priced at around $79 million and scheduled for delivery between Q3 2029 and Q1 2030. Seatankers Management already has several suezmax tanker newbuildings under construction at the same yard for delivery in 2027 and 2028, and is also evaluating additional newcastlemax bulk carrier newbuildings in China as John Fredriksen continues to remain heavily involved in forward contracting. Meanwhile, shipbuilding intelligence platforms list Athens-based shipowner and operator Evalend Shipping Co SA with more than 30 active newbuilding projects, most of which are energy carrier ships destined to join a fleet that now exceeds 50 ships—over half of which are currently bulk carriers. This reflects Evalend Shipping Co SA’s steady transformation into one of Greece’s most technically diversified and strategically agile shipowners. Evalend Shipping Co SA, under the leadership of Kriton Lendoudis and supported by a seasoned management team in Athens, has built a reputation for maintaining a disciplined, forward-looking approach to fleet acquisition. The company has historically been active in both the wet and dry markets, operating a mixed fleet of crude tankers, product tankers, LNG/LPG carriers, and bulk carriers. Evalend Shipping Co SA is known for its preference for high-specification newbuildings, often ordered at reputable Korean and Japanese shipyards, with an emphasis on fuel efficiency, reduced emissions, and strong chartering appeal. Supported by long-standing relationships with major charterers, financial institutions, and classification societies, Evalend Shipping Co SA is regarded as one of the more technically sophisticated Greek shipping groups. Its fleet strategy focuses on a combination of eco-design newbuildings, scrubber-equipped vessels, and modern ships designed to meet tightening IMO environmental regulations. Evaluations for dual-fuel propulsion options, energy-saving devices, and digital performance-monitoring systems have become central to the company’s procurement philosophy. As global tanker demand accelerates and Asian shipyards remain busy with VLCC (Very Large Crude Carrier) and suezmax tanker orders, the latest moves from Evalend Shipping Co SA further underscore a broader market trend: the renewed appetite for large, fuel-efficient crude tankers capable of meeting future regulatory and commercial expectations. With over 30 newbuildings in progress and continued investment in multiple ship sectors, Evalend Shipping Co SA is positioning itself as one of Greece’s most prominent, ambitious, and future-driven shipping enterprises. 28-November-2025
ExxonMobil has taken a decisive step toward expanding its lower-emission marine fuel operations by entering the LNG bunkering market through partnerships with Avenir LNG and Evalend Shipping, marking a strategic milestone in its long-term decarbonization efforts for maritime transport. The US-based energy major announced that operations will commence in 2027, utilizing two purpose-built LNG bunker ships—one chartered from Avenir LNG and another from Evalend Shipping—to supply LNG and bio-LNG to vessels operating in critical global trading regions. According to ExxonMobil’s global low-emission fuels business development manager Amy Wood, “Through both LNG and bio-LNG, we can help reduce lifecycle emissions compared with traditional marine fuels. As the shipping industry searches for scalable and sustainable decarbonization solutions, we are leveraging our integrated value chain and decades of experience to deliver cleaner fuel alternatives.” ExxonMobil, which has been active in LNG exploration, production, and supply for over forty years, confirmed that the first bunker ship—a 20,000 cubic meter newbuild from Avenir LNG—will be delivered in the first quarter of 2027. The second bunker ship, built for Evalend Shipping, will have an 18,000 cubic meter capacity and is expected to join the fleet later in 2027. ExxonMobil emphasized that this initiative will serve as the foundation for expanding its global LNG and bio-LNG bunkering network, targeting rising demand from shipowners seeking compliance with tightening emissions regulations across major ports and maritime trade corridors. For Avenir LNG, the charter deal with ExxonMobil’s shipping arm SeaRiver Maritime provides long-term employment for one of its two large-capacity newbuilds and concludes its 2024 shipbuilding program. “This collaboration aligns with our goal of promoting the use of LNG and bio-LNG as transitional marine fuels and reinforces our position as a global leader in small-scale LNG logistics,” said Jonathan Quinn, managing director of Avenir LNG. “The agreement also strengthens our long-term expansion strategy in emerging energy markets.” London-based Avenir LNG currently operates five LNG bunker and supply ships with two more under construction and has secured five additional long-term charter agreements over the past year with major energy, utility, and industrial customers. Meanwhile, diversified Greek shipowner and operator Evalend Shipping, controlled by veteran shipowner Kriton Lendoudis, continues to expand its footprint in the LNG bunkering and gas carrier sectors. Established in the early 1970s, Evalend Shipping has developed into one of Greece’s most versatile privately held shipowning groups, with a diversified fleet portfolio including LNG carriers, product tankers, and bulk carriers. Over the past decade, Evalend Shipping has significantly strengthened its presence in the gas shipping segment, reflecting the broader maritime industry’s transition toward cleaner energy and alternative fuel transport solutions. Earlier in 2025, Evalend Shipping was linked through shipbroking sources to a major LNG bunkering newbuilding program at HD Hyundai Mipo Dockyard in Ulsan, South Korea, involving four LNG bunker ships valued at around $370 million in total. These modern LNG bunker ships are designed to meet the latest International Maritime Organization (IMO) emission standards and to operate efficiently within key European and Asian ports. Evalend Shipping’s growing engagement in the LNG bunkering trade reflects its long-term strategy to diversify beyond conventional tanker and dry bulk operations, positioning itself as a leading contributor to the global energy transition. Under the leadership of Kriton Lendoudis, Evalend Shipping has cultivated a reputation for reliability, technological innovation, and a proactive environmental stance, frequently investing in energy-efficient ship designs and alternative propulsion systems. With its charter agreement with ExxonMobil, Evalend Shipping secures a strategic partnership with one of the world’s largest energy corporations, providing stable employment for one of its latest-generation bunker ships and reinforcing its credentials in the cleaner-fuels logistics chain. The collaboration marks another major milestone in Evalend Shipping’s transformation from a traditional Greek tanker owner into a forward-looking player in the LNG and bio-LNG fueling infrastructure, complementing the wider maritime industry’s collective push toward sustainability and net-zero shipping. 11-October-2025
ExxonMobil has been linked to charter deals for two LNG bunker vessel newbuildings from Athens-based shipowner and operator Evalend Shipping Co SA. The United States oil major ExxonMobil is understood to have secured one ship each from two different shipowners as it moves in line with other global energy majors expanding into the LNG bunkering market. Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA is reported to have lined up employment for the first of its four LNG bunker vessel newbuildings, which were ordered speculatively. United States energy major ExxonMobil is being connected with charter agreements on two LNG bunker vessel newbuildings contracted by separate shipowners. ExxonMobil has taken the first of four LNG bunker vessel newbuildings placed on speculation by Greek shipowner and operator Evalend Shipping Co SA. Founded in 1977 by Kriton Lendoudis and headquartered in Athens, Evalend Shipping Co SA is a diversified shipowner and operator with a fleet that has historically included tankers, bulk carriers, and gas carriers. Evalend Shipping Co SA has built a reputation for investing in high-quality newbuildings, often placed with leading Asian shipyards, and for pursuing strategic long-term charters with oil majors and commodity traders. In recent years, Evalend Shipping Co SA has expanded into the LNG and LPG segments, underlining its adaptability to changing energy transport demands. The order of four LNG bunker vessel newbuildings marks a significant step in positioning Evalend Shipping Co SA as a forward-looking shipowner in the alternative fuels supply chain, aligning with the industry’s transition toward cleaner energy and providing global clients such as ExxonMobil with long-term bunkering solutions. 26-August-2025
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has been linked with the sale of a modern VLCC (Very Large Crude Carrier) to United States-based tanker owner and operator International Seaways. Athens-based shipowner and operator Evalend Shipping Co SA is reported to be selling the VLCC for approximately $119 million but has not disclosed the name of the tanker until the transaction is concluded. Sources close to the deal suggest that Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA is divesting one of its five VLCCs. Market insiders have identified the vessel as the 300K DWT VLCC MT Halcyon, built in 2020, which forms part of the modern fleet of Greek shipowner and operator Evalend Shipping Co SA, and this transaction represents the latest high-profile acquisition for United States-based tanker owner and operator International Seaways. Founded in 1977 by Kriton Lendoudis, Evalend Shipping Co SA has evolved into a diversified Athens-based shipowner and operator with a fleet portfolio spanning VLCCs, product tankers, LPG carriers, and bulk carriers. Evalend Shipping Co SA has traditionally focused on building strong relationships with major oil companies, commodity traders, and energy corporations by investing in high-quality tonnage sourced from leading shipyards in South Korea, Japan, and China. Over the years, Evalend Shipping Co SA has established itself as a flexible yet conservative shipowner, employing a mix of spot market exposure and time-charter contracts to mitigate market volatility. In recent years, Evalend Shipping Co SA has actively pursued expansion into gas shipping and LNG bunkering segments, reflecting a forward-looking strategy aligned with the industry’s energy transition. The sale of the 2020-built VLCC MT Halcyon underscores Evalend Shipping Co SA’s continuous effort to optimize its fleet portfolio, capitalize on high asset values, and reinvest in future-oriented shipping projects that reinforce its position as one of Greece’s most dynamic privately held shipowning entities. 5-August-2025
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has been identified as the buyer of suezmax tankers placed at HD Hyundai Samho. Athens-based shipowner and operator Evalend Shipping Co SA has assembled an extensive order book of 37 newbuildings with a combined value exceeding $3 billion, reflecting one of the most ambitious expansion programs among private Greek shipowners. Greek shipowner and operator Evalend Shipping Co SA is strengthening its suezmax tanker fleet with an order for two modern newbuildings estimated at nearly $178 million. The 157K DWT suezmax order announced by HD Korea Shipbuilding & Offshore Engineering has been attributed to Greek shipowner and operator Evalend Shipping Co SA. Founded in 1977 by Greek shipping tycoon Kriton Lendoudis, Evalend Shipping Co SA is a diversified Athens-based shipowner and operator with a fleet covering crude oil tankers, product tankers, bulk carriers, LPG carriers, and LNG bunker vessels. Over the decades, Evalend Shipping Co SA has established itself as a prominent name in global shipping by strategically investing in high-quality, fuel-efficient tonnage sourced from leading Asian shipyards in South Korea, Japan, and China. Evalend Shipping Co SA maintains long-term relationships with oil majors, energy traders, and charterers worldwide, balancing spot market exposure with time-charter coverage to manage volatility in the shipping markets. In recent years, Evalend Shipping Co SA has diversified further into the LNG and LPG shipping sectors, aligning its business strategy with the global energy transition and environmental regulations. The suezmax order at HD Hyundai Samho highlights Evalend Shipping Co SA’s commitment to fleet modernization and growth, positioning it as a forward-looking and competitive shipowner in the crude oil transportation market, while reinforcing its reputation as one of Greece’s most dynamic and expansion-minded privately held shipping enterprises. 23-June-2025
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has expanded its $3 billion newbuilding orderbook with the latest move into the suezmax sector. Greek shipowner and operator Evalend Shipping Co SA is set to double its suezmax tanker fleet from two to four ships, highlighting its commitment to growth in the crude oil transportation market. Athens-based shipowner and operator Evalend Shipping Co SA has now joined a limited circle of shipowners placing significant suezmax tanker orders, further underlining its long-term fleet expansion strategy. Evalend Shipping Co SA has been confirmed as the buyer behind the two 157K DWT suezmax tankers recently announced by HD Korea Shipbuilding & Offshore Engineering (HD KSOE). Founded in 1977 by Greek shipping tycoon Kriton Lendoudis, Evalend Shipping Co SA has built a diversified fleet consisting of crude oil tankers, product tankers, bulk carriers, LPG carriers, and LNG bunker vessels. Headquartered in Athens, Evalend Shipping Co SA has cultivated a reputation for investing in high-quality, modern, and fuel-efficient ships, often sourced from leading South Korean and Japanese shipyards. Evalend Shipping Co SA maintains close business ties with major oil companies, global energy traders, and charterers, adopting a strategic mix of time-charter employment and spot market exposure to balance risk and earnings. In recent years, Evalend Shipping Co SA has diversified into gas shipping and LNG bunkering, aligning with global energy transition demands and stricter environmental regulations. With its rapidly expanding $3 billion orderbook and fresh suezmax tanker orders, Evalend Shipping Co SA continues to position itself among the most dynamic and growth-oriented privately held Greek shipping enterprises. 6-May-2025
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has been revealed as the owner behind $370 million LNG bunker vessel (LNGBV) newbuilding orders. Athens-based shipowner and operator Evalend Shipping Co SA is making a strategic move into the fast-growing LNG fuelling sector with this major commitment. Greek shipowner and operator Evalend Shipping Co SA has been linked to an order for four LNG bunker vessels (LNGBV) worth $370 million placed at HD Hyundai Mipo in South Korea. HD Korea Shipbuilding & Offshore Engineering announced that it has signed a $370 million agreement for the construction of four 18,000-cbm LNG bunker vessels (LNGBVs). Founded in 1977 by Greek shipping tycoon Kriton Lendoudis, Evalend Shipping Co SA has developed into a diversified Athens-based shipowner and operator with a fleet spanning crude oil tankers, product tankers, LPG carriers, bulk carriers, and LNG bunker vessels. Evalend Shipping Co SA has long been known for acquiring high-quality, modern tonnage from top-tier shipyards in South Korea, Japan, and China. The company has built strong commercial relationships with oil majors, energy traders, and charterers worldwide, adopting a balanced chartering strategy that mixes long-term contracts with spot market operations. In recent years, Evalend Shipping Co SA has expanded its portfolio into the LNG and LPG transportation markets, aligning its investments with the global shift toward cleaner energy and environmental regulations. The $370 million LNG bunker vessel newbuilding program underscores Evalend Shipping Co SA’s commitment to innovation and sustainability, positioning it as one of Greece’s most forward-looking privately held shipping enterprises actively preparing for the future energy transition. 9-February-2025
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has expanded its fleet renewal program by booking four additional product tankers at its preferred Chinese shipyard. Athens-based shipowner and operator Evalend Shipping Co SA has returned to Yangzijiang Shipbuilding with fresh orders for four modern product tankers. Greek shipowner and operator Evalend Shipping Co SA has doubled its handysize product carrier orderbook through this latest move, reaffirming its long-standing relationship with Yangzijiang Shipbuilding. Kriton Lendoudis-backed shipowner and operator Evalend Shipping Co SA is reported to have instructed Yangzijiang Shipbuilding to construct four 39,000-dwt handysize product carriers, with deliveries scheduled between Q4 2027 and Q1 2028. Founded in 1977 by Greek shipping tycoon Kriton Lendoudis, Evalend Shipping Co SA has grown into a diversified Athens-based shipowner and operator with a fleet covering crude oil tankers, product tankers, LPG carriers, bulk carriers, and LNG bunker vessels. Evalend Shipping Co SA has earned a reputation for strategic ordering at leading shipyards in China, South Korea, and Japan, combining newbuilding investments with secondhand acquisitions to maintain a modern, fuel-efficient fleet. Over the years, Evalend Shipping Co SA has built strong relationships with oil majors, energy traders, and major charterers, relying on a balanced mix of spot exposure and long-term charters to manage risk in volatile shipping markets. The decision to double its order of handysize product carriers at Yangzijiang Shipbuilding highlights Evalend Shipping Co SA’s forward-looking fleet development strategy, ensuring compliance with stricter environmental regulations and aligning with global demand for efficient product transportation. This latest expansion further reinforces Evalend Shipping Co SA’s position as one of Greece’s most dynamic and growth-oriented privately owned shipping enterprises. 2-December-2024
Greek shipping tycoon Kriton Lendoudis-led shipowner and operator Evalend Shipping Co SA has been linked to Hengli Group VLCC resales at a notable price level. Greek shipowner and operator Evalend Shipping Co SA has become the second Greek shipowner to target Hengli Group resale tonnage within the past five months. Only a week after China’s Hengli Group booked four VLCC newbuildings at its shipyard, the group appears to be reselling two of those ships to Athens-based shipowner and operator Evalend Shipping Co SA. Greek shipowner and operator Evalend Shipping Co SA is reported to be in advanced discussions to acquire a scrubber-fitted pair of 306K DWT VLCCs scheduled for delivery from Hengli Heavy Industries in 2026. Founded in 1977 by Greek shipping tycoon Kriton Lendoudis, Evalend Shipping Co SA has grown into a diversified Athens-based shipowner and operator managing a fleet that includes VLCCs, suezmax tankers, product tankers, LPG carriers, LNG bunker vessels, and bulk carriers. Evalend Shipping Co SA has long maintained a strategy of fleet renewal through a combination of speculative newbuilding orders and opportunistic secondhand acquisitions, often securing high-quality tonnage from leading shipyards in China, South Korea, and Japan. The shipowner has also cultivated strong commercial ties with oil majors, energy traders, and global charterers, enabling flexible deployment strategies across both spot and time-charter markets. Evalend Shipping Co SA has increasingly aligned its business strategy with the shipping industry’s transition toward greener operations, investing in scrubber-fitted vessels, fuel-efficient designs, and LNG-related tonnage. The move to acquire Hengli Group’s 306K DWT VLCCs reinforces Evalend Shipping Co SA’s position as one of the most expansion-driven privately owned Greek shipping enterprises, demonstrating its ability to capitalize on market opportunities while strategically growing its presence in the crude oil transportation sector. 25-September-2024
Last week, the Houthi rebels successfully used boats laden with explosives to target the Athens-based Evalend Shipping Co SA’s 2022-built kamsarmax bulk carrier MV Tutor, which has a capacity of 82K DWT. This attack, unprecedented in the Houthis’ seven-month offensive against commercial shipping, resulted in the death of one crew member and the sinking of the vessel. The assault began with a small boat striking the stern of the MV Tutor, followed by a larger explosion caused by a separate projectile hitting the midsection of the ship. Surveillance footage from the vessel shows armed security personnel on the bridge observing as the explosives-laden boat approached. The MV Tutor, owned and managed by the shipping firm led by Greek tycoon Kriton Lentoudis, is the second vessel from Evalend Shipping Co SA to be sunk by the Houthis. In response to this escalation, fourteen of the world’s leading shipping associations released a statement yesterday, calling for intervention from influential states to halt these attacks immediately. The ongoing deterioration of security in the Red Sea highlights not only the Houthi’s growing boldness but also a general increase in regional aggression, posing significant concerns for maritime safety. The impact of such attacks extends beyond immediate damage, affecting the morale and safety perceptions of crew members across the maritime sector. The profound fear generated by these incidents has led to a consensus among the crew of MV Tutor to avoid future risks in the volatile Gulf of Aden, with many preferring to sign off rather than navigate through the dangerous waters again. This heightened sense of danger has exacerbated the shortage of officers, which has reached a critical level, thereby inflating manning costs and complicating the recruitment and retention of seafarers. 21-June-2024
It is believed that the MV Tutor has sunk. The kamsarmax bulk carrier, MV Tutor, which was built in 2022 and has a capacity of 82K DWT, is owned and managed by Evalend Shipping Co SA, based in Athens and led by the Greek shipowner Kriton Lentoudis. MV Tutor has become the second constructive total loss (CTL) attributed to the Houthis, marking a significant disruption in merchant shipping. On 12 June 2024, the kamsarmax bulk carrier MV Tutor suffered damage and water ingress in the engine room after being struck by a sea drone, resulting in the death of one seafarer. The MV Tutor sank in the Red Sea, according to a warning issued by the British military’s UKMTO (United Kingdom Maritime Trade Operations) Center to sailors in the area. The UKMTO (United Kingdom Maritime Trade Operations) reported seeing maritime debris and oil at the last known location of the MV Tutor. This recent incident indicates a noticeable escalation by the Houthis, both in the frequency of their attacks and their growing precision. 19-June-2024
The crew of the kamsarmax bulk carrier MV Tutor, a 2022-built ship owned by Athens-based Evalend Shipping Co SA, have safely returned to their countries after surviving a dramatic bomb-boat attack by Houthi forces off Yemen last week. The incident unfolded last Wednesday while the MV Tutor, under the direction of Greek shipowner Kriton Lentoudis and operated by Evalend Shipping Co SA, was navigating the Red Sea on its way to India. The situation escalated when the crew spotted a seemingly innocuous fishing boat approaching their vessel. Initially appearing non-threatening with just two figures aboard, the boat came alarmingly close to revealing its true nature as a remotely-controlled explosive device. It targeted the MV Tutor’s stern near the engine room, detonating on impact. This resulted in immediate flooding and substantial damage, rendering the vessel inoperable. Tragically, the explosion led to the disappearance of one engineering crew member, who remains unaccounted for. In the harrowing hours that followed, the ship’s crew endured a second attack—a missile strike—compelling them to seek refuge deep within the ship’s hull. They set up a makeshift operational hub powered by a portable generator, maintaining essential light, power, and communications while awaiting rescue. Rescue came about 10 hours later when a U.S. Navy helicopter from the USS Dwight D. Eisenhower efficiently evacuated the crew from the beleaguered MV Tutor. The survivors received initial medical evaluations and sustenance aboard the Eisenhower before being flown to safety for repatriation. Interestingly, footage from the incident revealed the presence of armed individuals on the MV Tutor’s bridge, which contrasts with the typical practice on the vessel. Normally, the crew does not carry firearms; instead, the ship is briefly protected by private maritime security contractors who are armed for the duration of passage through high-risk areas and disembark thereafter. This ordeal underscores the persistent risks faced by maritime crews in conflict-prone regions and highlights the critical importance of robust emergency procedures and international rescue operations. The safe return of the MV Tutor’s crew is a testament to their resilience and the effectiveness of coordinated international response efforts. 18-June-2024
Recently, the crews of MV Tutor and MV Verbena had to abandon their vessels over the weekend due to relentless attacks by Yemeni militants, the Houthis. Reports indicate that both the MV Tutor and the MV Verbena are in danger of sinking. The first successful attack using a sea drone by the Houthis targeted the MV Tutor, a kamsarmax bulk carrier with a capacity of 82K DWT, owned by Athens-based Evalend Shipping Co SA. This attack occurred last Wednesday, resulting in damage and water entering the engine room of the vessel. Unfortunately, it was reported that one crew member lost their life in this incident. The following day, the MV Verbena, a general cargo ship owned by Ukraine-based shipowner and operator Donbasstransitservice Ltd. (DTS), was struck by three projectiles, causing a severe fire onboard. One severely injured crew member was evacuated to a hospital by nearby US military personnel. All personnel aboard the MV Tutor, managed by Greek shipping magnate Kriton Lentoudis’s Evalend Shipping Co SA, were evacuated on Saturday. To attempt a rescue of the MV Tutor, Evalend Shipping Co SA dispatched salvage teams to the damaged 2022-built kamsarmax bulk carrier. 17-June-2024
The 2022-built kamsarmax bulk carrier MV Tutor, owned by Athens-based Evalend Shipping Co SA and flying the Liberian flag, has been abandoned following a naval operation to evacuate its crew. This incident occurred after an attack by Houthi militants on Wednesday, which resulted in the death of a seafarer and left the vessel taking on water. This marks the second time a bulk carrier has been abandoned due to threats from the Yemen-based group, and it is also the second incident involving a crew fatality from a Houthi strike. The Royal Navy’s UK Maritime Trade Operations reported on Friday that a military operation successfully evacuated the crew of the MV Tutor near the Eritrean coast in the southern Red Sea. The vessel is now unlit and drifting in the vicinity. Following the explosion, which caused the engine room to flood, a salvage operation was initiated as the MV Tutor was at risk of sinking and unresponsive to commands. At the time of the sea drone attack, the MV Tutor was located southwest of the Yemeni port of Hodeidah with its location transponder turned off. The Houthis have demonstrated their ability to operate sea drones using video feeds and GPS, and have increasingly targeted Greek ships in recent weeks. This escalation is part of the Houthis’ campaign against shipping, particularly targeting companies they believe have engaged in trading with Israel. Currently, Evalend Shipping Co SA manages a fleet of 51 tankers, bulk carriers, and gas carriers. The MV Tutor is classed by Lloyd’s Register (LR) and insured by Norway’s Gard. The attack drew strong condemnation from Arsenio Dominguez, secretary-general of the International Maritime Organization (IMO). Dominguez denounced any attacks on international shipping, stressing the IMO’s commitment to the safety of all seafarers and urging all governments and relevant organizations to assist affected crew members and work towards resolving the crisis. He highlighted the broader implications of such attacks, noting the potential negative impact on international shipping and regional stability. 16-June-2024
The Houthis’ aggressive maritime strategy tragically escalated on Wednesday when their combined sea drone and missile attack on the 2022-built kamsarmax bulk carrier 82K DWT MV Tutor resulted in the death of a seafarer. The MV Tutor, owned and operated by Athens-based Evalend Shipping Co SA under the leadership of Greek shipping tycoon Kriton Lentoudis, is now the second commercial bulk carrier to record a fatality due to the Houthis’ actions in the Red Sea. The incident, which saw the seafarer’s body trapped in the flooded engine room, raises questions about the cause of death—whether it was the direct impact of the projectile or drowning caused by the subsequent flooding. The MV Tutor was notably the first ship to be struck by a Houthi sea drone and also suffered at least one missile strike, causing severe flooding and substantial damage to its engine room. Following the attack, Houthi spokesman Yahya Saree warned that the 2022-built kamsarmax bulk carrier 82K DWT MV Tutor was at risk of sinking, with its engine room reported to be completely submerged. In response, a salvage operation was quickly organized. Tsavliris Salvage Group has dispatched two oceangoing tug boats to aid the stricken MV Tutor. However, the rescue efforts are complicated by safety concerns from traditional tug operators and the restrictive effects of sanctions, which limit the available options for MV Tutor rescues in this volatile region. 13-June-2024
The Houthi forces have acknowledged their first successful strike using an unmanned surface vessel (USV) on a commercial ship in the Red Sea and the Gulf of Aden, marking a significant escalation in maritime threats since their campaign began in November 2023. The target of this attack was the 2022-built kamsarmax bulk carrier, the 82K DWT MV Tutor, controlled by Athens-based shipowner and operator Evalend Shipping Co SA and led by Greek shipowner Kriton Lentoudis. On Wednesday, the kamsarmax bulk carrier, MV Tutor was struck twice while approximately 67.7 nautical miles southwest of Yemen’s port city of Hodeidah. Athens-based shipowner and operator Evalend Shipping Co SA controlled kamsarmax bulk carrier MV Tutor suffered impacts on its stern from a small craft, measured between five to seven meters in length, followed by an unknown airborne projectile. A Houthi military spokesman elaborated that the attack involved “an unmanned surface boat, several drones, and ballistic missiles,” resulting in serious damage to the MV Tutor, leaving it vulnerable to sinking. The US Central Command reported that the strike caused severe flooding and substantial damage to the engine room. Notably, the MV Tutor, which had recently docked in Russia and was en route to India, was no longer under the command of its crew following the attack, as stated by the UK Navy. Consequently, the kamsarmax bulk carrier MV Tutor will likely require towing to a safe location. This incident underscores a significant increase in the level of threat in the region, as the Houthis have previously utilized anti-ship cruise and ballistic missiles against vessels they claim are linked to Israel. However, this marks their first successful employment of an unmanned surface vessel (USV) in such attacks, posing a new set of challenges for commercial shipping navigating through the Red Sea, now vulnerable to threats from both air and sea. 13-June-2024
Athens-based shipowner and operator Evalend Shipping Co SA, led by Greek shipowner Kriton Lentoudis, has reported that its 2022-built kamsarmax bulk carrier, the 82K DWT MV Tutor, sustained significant damage following an incident in the Red Sea near Yemen. According to the United Kingdom Maritime Trade Operations (UKMTO), the Liberian-flagged MV Tutor was struck on the stern by an uncrewed surface vessel, measuring between five to seven meters in length. Subsequently, the vessel was also hit by an “unknown airborne projectile.” This maritime security incident occurred approximately 68 nautical miles southwest of Hodeidah, a port city in Yemen. Security consultancy Ambrey indicated that the Houthis were likely responsible for the attack. At the time of these strikes, the MV Tutor was not transmitting an Automatic Identification System (AIS) signal, which further complicated the situation. The United Kingdom Maritime Trade Operations (UKMTO) has confirmed that as a result of the damage, the MV Tutor lost its maneuvering capabilities. Fortunately, no injuries have been reported among the crew. Evalend Shipping Co SA is currently handling the situation, and further updates are awaited as they assess and respond to the damage sustained by the MV Tutor. 12-June-2024
Evalend Shipping, under the leadership of Greek shipowner Kriton Lendoudis, has further expanded its impressive orderbook with the addition of two new very large ammonia carriers (VLACs), signaling the company’s unwavering commitment to growing its fleet. The Athens-based shipowner and operator, known for its proactive approach to fleet expansion, is reportedly investing $121 million per vessel, totaling a $242 million investment for the pair. This acquisition brings Evalend Shipping’s newbuilding portfolio to 21 vessels valued at over $2.1 billion. The order for these very large ammonia carrier (VLAC) newbuildings was placed with South Korea’s HD Korea Shipbuilding & Offshore Engineering (HD KSOE), highlighting Evalend Shipping’s confidence in the shipyard’s ability to deliver state-of-the-art vessels. This move not only reflects Evalend Shipping’s ambition to capitalize on the growing demand for gas carriers but also underscores the shipping industry’s ongoing appetite for newbuildings amid global trade dynamics. 20-February-2024
One of Ukraine’s most significant accomplishments is the establishment of a new grain corridor, which is safeguarded by Ukraine’s own military forces. This corridor serves as a replacement for a United Nations-led initiative that Russia boycotted in July 2023. Despite initial doubts, Ukraine is on course to complete 100 voyages from previously blocked ports in Odesa, Chornomorsk, and Yuzhny, facilitating the transport of approximately 2.5 million tonnes of predominantly grain. This achievement is particularly impressive given the challenging circumstances surrounding the grain trade, which includes the absence of available commercial insurance due to ongoing threats such as mines and Russian attacks on ports. Blumenthal JMK, a German shipowner and operator, has been highly active in this grain trade, using the corridor to release two trapped bulk carriers from Ukraine and introduce ten more vessels from outside. Nonetheless, the grain trade remains delicate, with insurers, charterers, and cargo shippers playing pivotal roles. Insurers, because of the substantial premiums involved, wield significant influence over the size and value of ships entering the Ukrainian corridor. The fact that the average age of ships involved in this grain trade is 20 years indicates that shipowners and insurers are hesitant to dispatch younger and more valuable vessels. Insurance costs continue to be high by war risk standards. Although initially attractive due to higher-than-average freight rates, earnings in Ukraine’s Black Sea corridor have gradually diminished. The premium over non-Ukraine business has likely narrowed, potentially falling within a range of 20% to 50% above standard rates. Greek-based companies, particularly those with ties to Middle Eastern interests, have a substantial presence in this trade, with notable players like Athens-based shipowner Evalend Shipping, led by Kriton Lendoudis, and Bright Navigation, led by the Greek brothers Dimitris and George Stefanou. Despite its success, trust in the corridor remains limited due to ongoing threats such as floating mines in the Black Sea and continued aerial attacks on Ukrainian port infrastructure. Publicly held shipping firms and top-tier companies continue to steer clear of the Ukrainian trade. 8-October-2023
Athens-based shipowner Evalend Shipping Co SA has become the first to utilize the newly reopened grain corridor in Ukraine, a route protected by Ukraine but considered perilous due to potential Russian military activities. This move comes as China places large orders for corn shipments. Ukraine recently re-established a seaborne export corridor for its agricultural products in the Black Sea. Evalend Shipping Co SA controlled 2005 built handysize bulk carrier 28K DWT MV Danny Boy is one of five bulk carriers that bravely entered Ukraine’s deep-sea ports on Sunday, even with the looming threat of Russian military intervention in the region. This marks a significant development in the shipping industry’s relationship with the Black Sea region amidst geopolitical tensions. 2-October-2023
Athens-based shipowner Evalend Shipping Co SA chartered out 2023 built kamsarmax bulk carrier 82K DWT MV Sian to Danish shipowner and operator Dampskibsselskabet DS Norden A/S. Greek shipowner Evalend Shipping Co SA chartered out MV Sian for $15,000 per day for one year. Currently, the Baltic Exchange Panamax 5TC rate is $7,779 per day. Lately, Kriton Lentoudis-led Greek shipowner Evalend Shipping ordered two (2) Green Dolphin-type 40K DWT handysize bulk carriers. 14-February-2023
Athens-based shipowner Evalend Shipping Co SA ordered one (1) MR2 tanker and two (2) handysize bulk carriers at Jiangsu New Yangzijiang Shipbuilding in China. Previously, Kriton Lentoudis-led Greek shipowner Evalend Shipping ordered LPG carriers in South Korea at the beginning of 2022. Now, Greek shipowner Evalend Shipping Co SA turned to a Chinese shipyard to construct a tanker and bulk carriers. Two (2) 40K DWT handysize bulk carriers will be Green Dolphin-type, a modern open-hatch design that is fit for eventual conversions to carry containers. 7-December-2022
Greek shipowner Evalend Shipping controlled 2007 built handysize bulk carrier 18K DWT MV Aviator and International Seaways controlled 2008 built MR chemical tanker MT Atlantic Grace collided off India. Up to now, no pollution and no injuries have been announced. Evalend Shipping and International Seaways have a total of 44 crew members onboard the ships. Evalend Shipping controlled 2007 built handysize bulk carrier 18K DWT MV Aviator has P&I (protection and indemnity) cover with Steamship Mutual. International Seaways controlled 2008 built MR chemical tanker MT Atlantic Grace has P&I (Protection and Indemnity) cover with UK P&I Club. Indian Coast Guest has a vessel to the place to start preventative measures for any possible oil pollution. Evalend Shipping controlled 2007 built handysize bulk carrier 18K DWT MV Aviator and International Seaways controlled 2008 built MR chemical tanker MT Atlantic Grace had reportedly left the Kandla port. 27-November-2021
Kriton Lentoudis-led Greek shipowner Evalend Shipping ordered two (2) kamsarmax bulk carrier new-buildings 82K DWT for around $27 per ship million at Yangzi-Mitsui Shipbuilding. Additionally, Evalend Shipping has two (2) kamsarmax bulk carrier options. This is the first bulk carrier order of Evalend Shipping since 2017. Athens-based Evalend Shipping’s two (2) kamsarmax bulk carriers will be built according to IMO (International Maritime Organization) Tier II emissions standards. Since 2016, IMO (International Maritime Organization) Tier III emissions regulations took the place of Tier II emissions standards. This indicates that Greek shipowner Evalend Shipping has got its hands on kamsarmax new-buildings that’s keels were laid before 2016. Some Chinese and Japanese shipyards can still offer Tier II new-buildings. Currently, the cost difference between a kamsarmax bulker built to IMO (International Maritime Organization) Tier II and Tier III emission standards is about $1 million. Evalend Shipping’s two (2) kamsarmax bulk carriers will be delivered in Q4 2022. Yangzi-Mitsui Shipbuilding is a joint venture between Chinese Yangzijiang Shipbuilding and Japanese Mitsui E&S Shipbuilding. Athens-based Evalend Shipping is not new to Yangzi-Mitsui Shipbuilding. In 2017, Evalend Shipping ordered for four (4) kamsarmax bulk carrier new-buildings at Yangzi-Mitsui Shipbuilding for around $24 million per ship. Evalend Shipping took delivery of the IMO (International Maritime Organization) kamsarmax bulk carriers in 2018 and 2019. Currently, Evalend Shipping has a mixed fleet of 41 ships and 10 new-building ships on order. 16-February-2021
Athens-based shipowner Evalend Shipping Co SA CEO Kriton Lentoudis paid special homage to his father Evangelos Lentoudis, the founder of Evalend Shipping, which still carries his name. Evangelos Lentoudis passed away a long time ago but Evangelos Lentoudis has been Greek shipowner Evalend Shipping Co SA CEO Kriton Lentoudis’s inspiration.
Emotional CEO Kriton Lentoudis pays homage to the founding father on the 50th Evalend Shipping Co SA anniversary. Athens-based shipowner Evalend Shipping Co SA has a mixed fleet of gas carriers, tankers, and bulk carriers. 5-June-2022
Athens-based shipowner Evalend Shipping Co SA is still chasing an arbitration award worth $186,000 against a charterer it believes to be part of Nanjing Ocean Shipping Co (NASCO). In December 2016, Kriton Lentoudis-led Greek shipowner Evalend Shipping Co SA controlled 2007 built supramax bulk carrier 58K DWT MV Consolidator was loaded iron ore. An arbitration award worth $186,000 against a charterer was granted by London arbitrators at the end of April. Greek shipowner Evalend Shipping Co SA controlled 2007 built supramax bulk carrier 58K DWT MV Consolidator was chartered by Naspacific Shipping Co. Naspacific Shipping Co. deducted approximately $150,000 in outstanding charter hire. Evalend Shipping Co SA controlled 2007 built supramax bulk carrier 58K DWT MV Consolidator’s charterer Naspacific Shipping Co. cited unsafe working conditions on one of the ship’s cranes that resulted in the MV Consolidator being off-hire for more than two days at Bandar Abbas Port. Athens-based shipowner Evalend Shipping Co SA has a mixed fleet of gas carriers, tankers, and bulk carriers. 1-August-2018
Athens-based shipowner Evalend Shipping Co SA denies handysize sale rumor. Kriton Lentoudis-led Greek shipowner Evalend Shipping Co SA is denying market rumors the company has disposed of 2015 built handysize bulk carrier 38K DWT MV Evangelia L to Middle-Eastern shipowners for approximately $19 million. Whisper has been swirling around shipbrokers’ offices. However, Greek shipowner Evalend Shipping Co SA stated that it is a false rumor and that 2015 built handysize bulk carrier 38K DWT MV Evangelia L wasn’t even for sale at all. In 2015, Athens-based shipowner Evalend Shipping Co SA acquired 2015 built handysize bulk carrier 38K DWT MV Evangelia L a resale deal from Bahamas-based Agriculture & Energy Carriers (AEC) for around $22 million. Athens-based shipowner Evalend Shipping Co SA has a mixed fleet of gas carriers, tankers, and bulk carriers. 26-July-2018
Athens-based shipowners Evalend Shipping Co SA and Thenamaris are locking two (2) midsize LPG carrier newbuildings into time charters that are unlikely to be profitable amid the depressed LPG carrier market. Greek shipowner Evalend Shipping Co SA is led by Kriton Lentoudis. Greek shipowner Thenamaris is led by Nikolas Martinos. Both shipowners’ midsize LPG carrier newbuildings will spend the first year in period deals. Furthermore, Athens-based shipowner Evalend Shipping Co SA chartered out 2018 built 38K cbm LPG Tanker Aquarama to Vitol for a year. 7-February-2018
Greek shipowner Evalend Shipping bought three (3) panamax dry bulk carriers for $60 million from Jiangsu New Yangzijiang Shipyard as resales. Kriton Lentoudis led Greek shipowner and operator Evalend Shipping bought three (3) panamax dry bulk carriers 81K DWT MV World Seas, MV Bright Seas and MV Inspiring Seas. MV World Seas, MV Bright Seas will be delivered in 2016 and MV Inspiring Seas will be delivered in 2017. Greek shipowner and operator Evalend Shipping has previously been active in the handysize and supramax sector. 19-December-2016