21-June-2015
In a notable transaction highlighting the continued fleet repositioning strategy of Athens-based bulker and tanker shipowner and operator Centrofin Management Inc., led by Greek shipping magnate Dimitris Procopiou, shipbrokers have confirmed that the Greek shipowner has sold the VLCC MT Kalymnos (built 2000) to Murmansk Shipping, in a deal first reported on this site 10 days ago. The sale forms part of Centrofin Management Inc.’s broader approach of divesting older tonnage while redeploying capital into modern, fuel-efficient assets across both the bulk carrier and tanker segments, which includes an active presence in the S&P (Sale and Purchase) market and a diversified newbuilding programme featuring kamsarmax bulk carriers at Hengli Heavy Industry and suezmax tankers at Samsung Heavy Industries. The MT Kalymnos deal marks Murmansk Shipping’s entry into the VLCC segment, expanding from its existing fleet of six suezmax tankers, with the 15-year-old ship changing hands for $39m, a price above the market average for a vessel of its age due to its technical condition and specifications. Murmansk Shipping, established in 1939 and headquartered in the Russian Arctic port of Murmansk, operates across dry bulk, passenger transport, icebreaking, and tanker shipping, serving as a vital player in Arctic logistics and Northern Sea Route operations, while Centrofin Management Inc. continues to balance asset sales and acquisitions to strengthen its market position, enhance fleet efficiency, and maintain a diverse and globally competitive shipping portfolio.
11-June-2015
Shipowners, mindful of the lessons from past years of overordering, are increasingly prioritizing the purchase of resale and secondhand vessels rather than committing to newbuildings, aiming to avoid oversupplying the market with additional tonnage. This strategic restraint comes as sale and purchase activity gains momentum alongside robust charter rates, with shipbrokers reporting one-year time charter rates for VLCC tankers reaching around $45,000 per day and suezmax tankers at approximately $33,000 per day, both hitting their highest levels this year. The week has been particularly active for both secondhand VLCC sales and newbuilding transactions, headlined by Euronav’s confirmation that it is in “advanced discussions” to acquire four VLCC newbuildings from Metrostar at about $98m apiece, with market speculation suggesting the deal could extend to additional units. In a high-profile secondhand deal, Athens-based bulker and tanker shipowner and operator Centrofin Management Inc., led by Greek shipping magnate Dimitris Procopiou, has finalized the sale of its 2000-built VLCC MT Kalymnos to an undisclosed Russian shipowner for $39m, a price notably above market averages for a vessel of its age. This sale reflects Centrofin Management Inc.’s proactive fleet renewal strategy, which blends opportunistic divestments of older tonnage with targeted acquisitions in both the bulk carrier and tanker segments. With a diverse fleet comprising modern suezmax tankers, MR2 product tankers, capesize bulk carriers, kamsarmax bulk carriers, and supramax bulk carriers, Centrofin Management Inc. maintains a strong presence in the global shipping market through its subsidiaries Marine Trust and Trust Bulkers. The company has been particularly active in the sale and purchase arena in recent years, acquiring multiple tankers from Taiwanese shipowner and operator Formosa Plastics while simultaneously investing in newbuilding projects at leading Asian shipyards such as Samsung Heavy Industries and Hengli Heavy Industry, reinforcing its position as a diversified and growth-oriented player in the international shipping industry.
4-June-2015
Athens-based shipowner and operator Samios Shipping Co. S.A. has trimmed its portfolio back to a one bulk carrier fleet following the disposal of the handysize bulk carrier MV Golden Star, marking another step in the fleet reshaping of Greek shipowner and operator Samios Shipping Co. S.A. Greek shipowner and operator Samios Shipping Co. S.A. will again be left owning just one ship after selling the handysize bulk carrier MV Golden Star, a transaction that underlines how Athanasios Samios-led shipowner and operator Samios Shipping Co. S.A. continues to adjust its exposure depending on asset values, survey timing, and the economics of operating older tonnage. Market sources indicate the 1995 Imabari-built handysize bulk carrier 26K DWT MV Golden Star, which is due for special survey in July, has been sold to a Chinese shipowner and operator for further trading for about $3.1 million, a level that sits between demolition floors and prevailing secondhand indications for similar vintage handysize bulk carriers. The handysize bulk carrier MV Golden Star is said to carry a demolition value slightly above $2 million, while market value guidance has been cited around $3.8 million, illustrating the narrowing gap between scrap and trading values that owners weigh carefully when special survey and capital expenditure decisions come due. Athanasios Samios-led shipowner and operator Samios Shipping Co. S.A. purchased the handysize bulk carrier MV Golden Star under the name MV Rubin Star for around $12 million in 2003, and the sale at today’s levels highlights the long arc of ownership economics for Samios Shipping Co. S.A., where holding periods can stretch across market cycles and decisions are often made around the intersection of freight expectations, steel prices, and maintenance costs. Samios Shipping Co. S.A. has long been associated with the hands-on ownership and operation of dry bulk carriers and general cargo ships, and Samios Shipping Co. S.A. typically focuses on commercially standard ship types that can trade flexibly across minor bulks and regional routes, allowing Samios Shipping Co. S.A. to pursue spot opportunities or period cover as market conditions shift. With the handysize bulk carrier MV Golden Star sold and the fleet now reduced again, Samios Shipping Co. S.A. appears to be prioritising balance-sheet flexibility and optionality, keeping its platform lean while retaining the ability to re-enter the market with younger tonnage when pricing, efficiency, and chartering demand support renewed fleet growth.