The dynamic and buoyant Sale and Purchase (S&P) markets are showcasing considerable momentum, particularly in the realm of bulk carriers. This week, the spotlight falls on NGM Energy SA, a subsidiary of Nicholas G Moundreas’s (NGM) Athens-based shipping enterprise, which has been prominently featured in numerous shipbroker reports for its outstanding activity. Renowned for its strategic acquisitions and sales, NGM Energy SA, a prominent Greek shipping company, has yet again successfully capitalized on its expertise by securing significant profits through the astute trade of bulk carriers. A prime example of their business acumen is the sale of the 2010-built capesize bulk carrier MV Epic. This vessel, which NGM Energy SA incorporated into its fleet in 2020 for an estimated $18 million, was sold in a buoyant market for a robust $32.5 million to parties whose identities have not been disclosed, showcasing NGM Energy SA’s ability to navigate the market’s highs and lows with remarkable proficiency. The MV Epic, prior to its acquisition by NGM Energy SA, was part of the fleet of Alma Maritime, a company led by Stamatis Molaris. Athens-based shipowner and operator Alma Maritime Ltd. is known for its strategic operations and management of a diverse fleet, emphasizing efficiency, safety, and environmental responsibility. Under the name MV Cape Leonidas, the vessel contributed significantly to Alma Maritime’s reputation for operational excellence. The transition of the MV Epic from Alma Maritime to NGM Energy SA not only signifies a successful financial endeavor for NGM Energy SA but also highlights the vessel’s intrinsic value and the strategic foresight of both companies in navigating the complex dynamics of the shipping industry. 13-March-2024
Athens-based shipowner and operator Alma Maritime Ltd. acquired 2009 built post-panamax bulk carrier 93K DWT MV Uno (ex MV Chiara D’Amato) from Italian private equity investor DeA Capital Alternative Funds. After selling MV Uno (ex MV Chiara D’Amato), Italian private equity investor DeA Capital Alternative Funds exit the dry bulk market. Athens-based shipowner and operator Alma Maritime Ltd is led by Stamatis Molaris. 23-November-2021
Alma Maritime Ltd, under the leadership of Stamatis Molaris in Athens, is making waves again in the Sale and Purchase (S&P) market. As a prominent owner and operator of tanker and dry bulk vessels, the company is looking to downsize its capesize bulk carrier division by half. It’s putting its most modern vessel, the nine-year-old, 180K DWT capesize bulk carrier MV Cape Leonidas, which was constructed in Korea, up for sale. The current market valuation of MV Cape Leonidas stands at approximately $22 million, significantly less than the $66 million Alma Maritime Ltd invested in acquiring the ship directly from the shipbuilding yard in 2010. Alma Maritime Ltd grabbed headlines in May 2019 with the sale of its oldest capesize vessel, MV Iron Fritz, a 2003-built, 176K DWT ship, for $12 million. This transaction was closely followed by the disposal of the 170K DWT capesize bulk carrier MV Cape Maria in July 2019, which was sold to Greek counterparts for $13.8 million. The anticipated divestment of MV Cape Leonidas is expected to reduce Alma Maritime Ltd’s fleet to a single 14-year-old capesize bulk carrier alongside four suezmax tankers, marking a significant pivot in the company’s asset composition under the private stewardship of Stamatis Molaris. 18-December-2019
Athens-based shipowner and operator Alma Maritime Ltd. sold 2005 built capesize bulk carrier 170K DWT MV Cape Maria for around $14 million to a Greek shipowner. MV Cape Maria shows a sign of a developing buying desire for dry bulk carriers amid a soaring dry bulk freight market. Stamatis Molaris-led shipowner and operator Alma Maritime Ltd has sold the 2005 built capesize bulk carrier 170K DWT MV Cape Maria almost in a week after circulating into the sale and purchase (S&P) market. In May, Greek shipowner and operator Alma Maritime Ltd. sold 2003 built capesize bulk carrier 176K DWT MV Iron Fritz for around $12 million. 20-July-2019
Athens-based shipowner and operator Alma Maritime Ltd. sold 2003 built capesize bulk carrier 176K DWT MV Iron Fritz for around $12 million. MV Iron Fritz passed SS (special survey) in February 2018. Stamatis Molaris-led shipowner and operator Alma Maritime Ltd. acquired 2003 built capesize bulk carrier 176K DWT MV Iron Fritz (ex MV Houheng Sunrise) in November 2011 from Henghou Industrial Investment in November 2011. Alma Maritime Ltd. was established in 2008. Furthermore, Stamatis Molaris controls sister tanker company Empire Navigation. In September 2017, Greek shipowner and operator Alma Maritime Ltd. sold 2017 built capesize bulk carrier 181K DWT MV Cape Claudine for around $30 million. Currently, Greek shipowner and operator Alma Maritime Ltd. owns and operates four (4) capesize bulk carriers and four (4) suezmax tankers. 28-May-2019