28-October-2018
Thanassis Martinos-led Athens-based shipowner and operator Eastern Mediterranean Maritime (Eastmed) has expanded its fleet with the acquisition of the 2004-built panamax bulk carrier MV Ioannis Zafirakis from the dry bulk arm of Greek Livanos Group, Alios Bulkers. Constructed by Namura Shipbuilding, the MV Ioannis Zafirakis was put on the market in June and has recently been purchased by Eastern Mediterranean Maritime (Eastmed) for approximately $10 million. This transaction not only strengthens Eastern Mediterranean Maritime’s (Eastmed’s) operational capabilities but also reflects the dynamic nature of the maritime asset trading market. The acquisition of MV Ioannis Zafirakis, a vessel with significant carrying capacity and operational history, represents a strategic enhancement of Eastmed’s fleet, particularly in the panamax segment. On the other hand, the sale of this vessel reduces the fleet size of Alios Bulkers, the dry bulk division of the Greek Livanos Group, leaving them with just three bulk carriers: the panamax bulk carriers MV Bellamys, MV Atlantic Hero, and MV Atlantic Horizon. This contraction is indicative of Alios Bulkers’ potential strategic refocusing or fleet modernization efforts in response to evolving market conditions and fleet management objectives. This fleet adjustment for both Eastern Mediterranean Maritime (Eastmed) and Alios Bulkers highlights the continual shifts within the global shipping industry, where companies regularly reassess and realign their asset portfolios to optimize operational efficiency and economic performance.
28-October-2018
Thanassis Martinos-led Athens-based shipowner and operator Eastern Mediterranean Maritime (Eastmed) has recently broadened its maritime portfolio by acquiring the 2004-built panamax bulk carrier MV Ioannis Zafirakis from Alios Bulkers, the dry bulk division of the Greek Livanos Group. Built by Namura Shipbuilding, the MV Ioannis Zafirakis was placed on the market in June and has now been secured by Eastern Mediterranean Maritime (Eastmed) for an estimated $10 million. This acquisition enhances Eastern Mediterranean Maritime’s (Eastmed’s) operational capabilities and underscores the active nature of the maritime asset trading market. Specifically, the addition of MV Ioannis Zafirakis, a vessel known for its substantial carrying capacity and proven operational history, strategically boosts Eastmed’s fleet within the panamax segment. Meanwhile, this sale marks a reduction in fleet size for Alios Bulkers, leaving it with just three panamax bulk carriers: MV Bellamys, MV Atlantic Hero, and MV Atlantic Horizon. This reduction might suggest a strategic pivot or modernization initiative by Alios Bulkers in response to shifting market conditions and fleet management strategies. Such fleet adjustments by Eastern Mediterranean Maritime (Eastmed) and Alios Bulkers highlight the ongoing shifts within the global shipping industry, where companies continuously evaluate and adjust their asset portfolios to maximize operational efficiency and economic outcomes. Eastern Mediterranean Maritime (Eastmed), under the leadership of Thanassis Martinos, has been providing seaborne transportation services to the energy, industrial, and agricultural sectors for over 40 years. Eastern Mediterranean Maritime’s (Eastmed’s) commitment to shipping operation excellence has established a solid reputation through connecting supply and demand regions worldwide. With deep expertise in ocean transportation, Eastern Mediterranean Maritime (Eastmed) assists customers in executing strategies, seizing new opportunities, and enhancing performance relative to peers. Operating a fleet of world-class tankers, Eastern Mediterranean Maritime (Eastmed) facilitates the global movement of crude oil and its products. The company collaborates closely with players in the petroleum industry, offering midstream services to equity producers, refineries, and traders. Eastern Mediterranean Maritime (Eastmed) also partners with leading food and grain processing companies, ensuring the safe and efficient transport of bulk agricultural products from farms to global markets.
27-October-2018
London-based Union Maritime Limited (UML) has successfully sold its supramax bulk carrier MV Frognal Play (formerly MV Topflight) for approximately $10 million, securing a profit of $2 million within a span of 18 months. Originally acquired in April 2017 for $8 million, the Tsuneishi Cebu-constructed 52K DWT MV Frognal Play marks Union Maritime Limited’s (UML) second supramax bulk carrier sale in 2018. The initial sale involved the 58K DWT MV Albion (constructed in 2008), which was purchased by Thoresen Thai Agencies for roughly $14 million during the third quarter of 2018, having been acquired by Union Maritime Limited (UML) for just under $9 million. This recent transaction signals Union Maritime Limited’s (UML) departure from the supramax bulk carrier market, leaving the company with a single bulk carrier, the 76K DWT panamax MV Harrow. Union Maritime Limited (UML) has been notably dynamic in the tanker industry, incorporating five MR tankers into its fleet in 2017 and adding five vintage aframax tankers in 2018. Established in 2006 by Managing Director Laurent Cadji, Union Maritime Limited (UML) is recognized as one of the rapidly expanding tanker operators based in London.
24-October-2018
Greek Laskaridis family-controlled shipowner and operator Lavinia Bulk Ltd. acquired 2010 built capesize bulk carrier 180K DWT MV Cape Zenith for around $29 million. CEO Thanassis Laskaridis-led shipowner and operator Lavinia Bulk Ltd. acquied MV Cape Zenith from Japanese shipowner and operator K Line. Lavinia Bulk Ltd is a privately held company. Lavinia Bulk Ltd’s bulk carriers are managed by Laskaridis Shipping Co. Ltd. Lavinia Bulk Ltd commercially manages a large and modern fleet of mid- to large-size dry bulk carriers. Athens-based shipowner and operator Lavinia Bulk Ltd. have acquired its second capesize bulk carrier this month.
11-October-2018
Amidst the scorching heat of the second week of October, the supramax segment finds itself in a fervent state, as a select group of esteemed Greek shipowners and operators engage in spirited bidding for bulk carriers. Among the notable contenders, the name of Supramax specialist Mario Stafilopatis and his esteemed enterprise, Athens-based shipowner and operator Byzantine Maritime Corporation (BMC) reverberate as the potential purchaser. Another significant participant in this deal is Athens-based shipowner and operator AM Nomikos. Despite their considerable presence in the sector, both shipowners have maintained a veil of silence in the supramax bulk carrier segment for several years. Greek shipowner and operator AM Nomikos is associated with 23 supramax bulk carriers, while Marios Stafilopatis-led Greek shipowner and operator Byzantine Maritime Corporation (BMC) boasts a fleet of 12 supramax bulk carriers.
10-October-2018
Switzerland-based shipowner and operator Suisse-Atlantique another vintage bulk carrier. Suisse-Atlantique sold 1999 built panamax bulk carrier 73K DWT MV Celerina for around $5.5 million. CEO Eric Andre-led shipowner and operator Suisse-Atlantique has sold MV Celerina as part of its ongoing fleet optimization. 1999 built panamax bulk carrier 73K DWT MV Celerina was constructed at CSBC Corporation (China Shipbuilding Corporation). The sale of MV Celerina confirms the prevailing trend of declining values in the market for such bulk carriers.
4-October-2018
Japanese shipowner Doun Kisen KK (aka Doun Kisen Co. Ltd) exercised options for two (2) IMO Tier II-compliant ultramax dry bulk new-buildings at Nantong Xiangyu Shipbuilding & Offshore Engineering on the basis of price and 2020 delivery slot. Previously, Japanese shipowner Doun Kisen KK (aka Doun Kisen Co. Ltd) ordered four (4) the Sdari-designed, 63K DWT ultramax dry bulk new-buildings at the state-owned Nantong Xiangyu Shipbuilding & Offshore Engineering. With the latest options brings Doun Kisen KK’s (aka Doun Kisen Co. Ltd’s) newbuild tally to six (6) ultramax dry bulk new-buildings.
3-October-2018
The esteemed Pula-based Croatian shipyard, Uljanik, has regrettably missed another pivotal shipbuilding contract. Toronto Stock Exchange-listed shipowner and operator Algoma Central Corporation has formally and singularly terminated the contract for crafting a vessel designed for the conveyance of bulk cargo equipped with a self-discharging mechanism destined for the Great Lakes. St. Catharines-based Canadian shipowner and operator Algoma Central Corporation’s proclamation further elucidates that, heeding the prospective buyer’s solicitation concerning the aforementioned project, all operations had been put on an interim halt and the tangible construction phase remains uncommenced. This setback isn’t the sole concern for Uljanik. As of October 2nd, the firm’s financial reservoirs were immobilized for the second instance within a brief span. Uljanik, in an official declaration to the Zagreb securities market, expressed that the discussions with the consortium of enforcement creditors are in progress, aiming to reinstate the account’s active status. Earlier that September, Siem Shipping of Norway rescinded an order for quartet car carriers, attributing this decision to the lamentable incapacity of the beleaguered Croatian shipbuilding entity to deliver the ship in congruence with the stipulated agreement.
1-October-2018
Greek Laskaridis family-controlled shipowner and operator Lavinia Bulk Ltd. acquired 2010 built capesize bulk carrier 180K DWT MV New Dalian. MV New Dalian deal highlights the rising value of secondhand bulk carriers in the sector. Lavinia Bulk Ltd is a privately held company. Lavinia Bulk Ltd’s bulk carriers are managed by Laskaridis Shipping Co. Ltd. Lavinia Bulk Ltd commercially manages a large and modern fleet of mid- to large-size dry bulk carriers. will pay around $27 million. Athens-based shipowner and operator will take the delivery of 2010 built capesize bulk carrier 180K DWT MV New Dalian from Cosco Shipping Corp. Lavinia Bulk Ltd commercially manages a large and modern fleet of mid- to large-size dry bulk carriers.