Carras Hellas

Greek shipowner and operator Carras Hellas S.A. sold 2003 built capesize bulk carrier 171K DWT MV Aquabreeze for around $11 million. MV Aquabreeze has no scrubber or BWTS (Ballast Water Treatment System) installed. Currently, Greek shipowners are seen on the selling side of the capesize bulk carriers in S&P (Sale and Purchase) market. The Greek shipowner’s sale moves come in severe contrast to recent weeks that have seen them essentially been tied to acquisitions of the capesize bulk carriers. Traditional Greek shipowners such as Kassian Maritime and Carras Hellas S.A offloaded vintage capesize bulk carriers, probably just in time to pick increasing prices in capesize bulk carriers. Secondhand prices for 15-year-old capesize bulk carriers increased by more than 20% since the start of 2021. Nevertheless, capesize bulk carrier freight rates have been weakening lately. Purchasing appetite for capesize bulk carriers may suffer vis-a-vis other types of bulk carriers faring better at the moment. Greek shipowner and operator Carras Hellas S.A. have been circulating capesize bulk carriers as candidates for months in S&P (Sale and Purchase) market. Greek shipowner and operator Carras Hellas S.A. has been renewing its fleet. In June 2020, Greek shipowner and operator Carras Hellas S.A. sold sistership 2003 built capesize bulk carrier 171K DWT MV Xin Chun (ex MV Aquaglory) for around $10 million to Jiangsu Huaxin Ship Management. 9-February-2021

 

Greek shipowner and operator Carras Hellas S.A. chartered out 2009 built capesize bulk carrier 182K DWT MV Aquaprincess to Koch Industries Commodities Group shipping arm Koch Shipping for around $18,000 per day for two years. In 2009, Greek shipowner and operator Carras Hellas S.A. acquired MV Aquaprincess for around $110 million. MV Aquaprincess is probably the most expensive capesize bulk carrier ever built. Carras Hellas S.A. has also sistership 2010 built capesize bulk carrier 182K DWT MV Aquadiva in its fleet. To make a reasonable return on equity, MV Aquaprincess and MV Aquadiva would each have required to collect approximately $50,000 per day. Greek shipowner and operator Carras Hellas S.A. paid cash to acquire MV Aquaprincess and MV Aquadiva. Therefore, there are no finance costs, all ­revenues over and above operating costs of $8,000 per day per ship are profits. Greek shipowner and operator Carras Hellas S.A. charters out most of its bulk carriers on period charters. In March 2016, MV Aquaprincess and MV Aquadiva were chartered out to Rio Tinto for one year at $5,250 per day per vessel. Carras Hellas S.A. did not order the MV Aquaprincess and MV Aquadiva with scrubbers. In 2016 and 2017, Greek shipowner and operator Carras Hellas S.A. took delivery of three (3) ultramax new-building bulk carriers from Japan Marine United. Currently, Athens-based Carras Hellas S.A. owns and operates twelve (12) large bulk carriers. 24-October-2019

 

Greek shipowner and operator Carras Hellas S.A. is selling panamax dry bulk carrier 2001 built 75K DWT M/V Elpis 1 (ex M/V Leto). M/V Elpis 1 was chartered out to German bulker giant Oldendorff Carriers for $5,500 per day for nine months in 2019. In 2006, Greek shipowner Carras Hellas S.A. bought M/V Elpis 1 from compatriot Target Marine for a $42 million and operated M/V Elpis 1 during the worst dry bulk shipping markets in shipping history. Carras Hellas S.A. has a newbuilding program with five (5) ultramax and one (1) kamsarmax bulk carriers in Japan. Currently, Piraeus based shipowner Carras Hellas S.A. has a fleet of thirteen (13) bulk carriers. 6-June-2016