Pappadakis family-controlled Kassian Maritime sold vintage capesize bulk carrier. Athens-based shipowner and operator Kassian Maritime sold 174K DWT MV Giant Slotta (ex MV Voge Master) for around $12 million to Chinese shipowner and operator. Greek shipowner and operator Kassian Maritime has been trying to sell MV Giant Slotta (ex MV Voge Master) since September 2020. In 2016, Kassian Maritime acquired MV Giant Slotta (ex MV Voge Master) for around $11.5 million. Greek shipowner and operator Kassian Maritime has been trading MV Giant Slotta (ex MV Voge Master) for more than five years. MV Giant Slotta (ex MV Voge Master) is due for a SS (Special Survey) in March 2021. MV Giant Slotta (ex MV Voge Master) is non-scrubber fitted and has not been installed BWTS (Ballast Water Treatment System). Greek shipowner and operator Kassian Maritime controls another couple of capesize bulk carriers of approximately the same age. 9-February-2021
Pappadakis family-controlled Kassian Maritime sold 2006 built panamax bulk carrier 74K DWT MV Underdog for about $8.5 million. In 2006, MV Underdog was built at Hudong-Zhonghua, China. In March 2017, Kassian Maritime acquired MV Underdog around the same price. Athens-based Kassian Maritime has a fleet of ten (10) bulk carriers. Kassian Maritime has continued to renew its bulker fleet. Kassian Maritime has ordered a panamax bulk carrier at the Japanese shipyard for delivery in 2021. 28-August-2019
Athens-based Archangel Pacific is a new dry bulk player led by a member of the Greek Pappadakis family and John Couroussopoulos. John Couroussopoulos was a former co-managing director of Kassian Maritime. Archangel Pacific was established in December 2018. Currently, Archangel Pacific manages four (4) bulk carriers which were previously managed by Kassian Maritime. 2011 built kamsarmax bulk carrier 81K DWT MV Egyptian Mike, 2012 built kamsarmax bulk carrier 81K DWT MV Resurgence, 2015 built ultramax bulk carrier 60K DWT MV Phoenix Rising and 2009 built supramax bulk carrier 55K DWT MV Antoine were previously managed by Kassian Maritime and now managed by Archangel Pacific. 2009 built supramax bulk carrier 55K DWT MV Antoine name points to Antoine Pappadakis, a member of the Greek Pappadakis family. Archangel Pacific is a separate entity from Kassian Maritime, which continues to be managed by siblings Virginia Pappadakis and Antonis Pappadakis. 2011 built kamsarmax bulk carrier 81K DWT MV Egyptian Mike, 2012 built kamsarmax bulk carrier 81K DWT MV Resurgence are trading under London-based panamax pool M2M Management. Currently, Pappadakis family-controlled Kassian Maritime controls ten (10 bulk carriers and three (3) tankers. 26-March-2019
Greek shipowner and operator Kassian Maritime is asking the US Supreme Court to judge whether the US Coast Guard (USCG) was acting fairly when it asked for a multimillion-dollar bond to free one of its bulkers in 2013. Pappadakis family-controlled Kassian Maritime’s subsidiary company Angelex’s attorney Chalos & Co. filed a petition with the court in late January 2019, over a clause in the Act to Prevent Pollution From Ships they say courts disregarded in a legal battle over the 2013 detention of the 1995 built panamax bulk carrier 73K DWT MV Electronica (ex MV Antonis G Pappadakis). According to Athens-based Kassian Maritime’s attorney Briton Sparkman, the issue is language in the Act to Prevent Pollution From Ships, which entitles a ship unreasonably detained or delayed by the government to compensation. In April 2013, 73K DWT MV Electronica (ex MV Antonis G Pappadakis) was kept from leaving the Port of Norfolk, after seafarers passed notes and a camera to the US Coast Guard (USCG) officials alleging the MV Electronica (ex MV Antonis G Pappadakis) illegally discharged oily bilge water. The United States government required $2.5 million as a bond to release the MV Electronica (ex MV Antonis G Pappadakis). The discharges were not recorded onboard, and Kassian Maritime, Kassian Maritime’s subsidiary company Angelex and the MV Antonis G Pappadakis’s captain were charged criminally. Kassian Maritime, Kassian Maritime’s subsidiary company Angelex and the MV Antonis G Pappadakis’s captain were acquitted in a trial, but not before the MV Antonis G Pappadakis sat in port for nearly six (6) months and Kassian Maritime’s subsidiary company Angelex lost what it claims was $4.2 million. In 2015, Kassian Maritime’s subsidiary company Angelex sought damages, but the Eastern District of Virginia federal court and the Washington DC Circuit Court of Appeals denied them, deferring to the United States government. In the petition, Kassian Maritime’s subsidiary company Angelex announced it turned over a trove of financial documents evidencing the company’s inability to pay the $2.5 million bond, but several officials told in depositions that they did not review the documentation. Moreover, lawyers for Kassian Maritime’s subsidiary company Angelex alleged the US Coast Guard (USCG) initially agreed to a $1.5 million bond, which was later canceled without explanation. A lawsuit in the immediate aftermath of the MV Antonis G Pappadakis’ detention sided with Kassian Maritime’s subsidiary company Angelex and decreased the bond to $1.5 million, a sum overturned by a High Court that announced the Kassian Maritime’s subsidiary company Angelex must seek an after-the-fact remedy. The US Department of Justice declined to comment on the petition, but government lawyers have successfully defended the US Coast Guard’s (USCG) actions as reasonable. The court is set to decide whether to hear Kassian Maritime’s subsidiary company Angelex’s case by 6 March 2019. 26-February-2019
Greek shipowner and operator Kassian Maritime acquired 2007 Japanese built capesize dry bulk carrier 177K DWT MV Pacific Explorer for about $21 million. In 2018, Greek shipowner and operator Kassian Maritime acquired five (5) bulk carriers and sold two (2) bulk carriers. 2007 Japanese built capesize dry bulk carrier 177K DWT MV Pacific Explorer has passed into Greek shipowner and operator Kassian Maritime’s ownership and management. In August 2018, Greek Kassian Maritime acquired 2006 built capesize bulk carrier 177K DWT MV Royal Chorale for about $22 million. 2006 built capesize dry bulk carrier 177K DWT MV Royal Chorale and 2007 built capesize dry bulk carrier 177K DWT MV Pacific Explorer were both controlled by Japanese shipowners and were built at the same Japanese shipyard Mitsui Engineering & Shipbuilding. 15-January-2019
Greek shipowner and operator Kassian Maritime been modernizing its fleet. Kassian Maritime has sold five (5) vintage ships recently and accumulated about $36 million. Greek shipowner and operator Kassian Maritime is preparing to acquire 2011 panamax dry bulk carrier 82K DWT MV Oriental Wise for about $18 million from Qinfa. Qinfa is a Chinese coal mining company with a shipping arm. MV Oriental Wise was built at CSSC Longxue Shipbuilding in China. Pappadakis family-controlled Kassian Maritime has two panamax bulk carriers in the fleet. 2012 built sisterships 81K DWT MV Resurgence and MV George P which were built at the same shipyard CSSC Longxue Shipbuilding in China. Last week, Athens based shipowner and operator Kassian Maritime acquired 2010 panamax bulk carrier 75K DWT MV Annabell from German NAVES Invest for about $14 million. Excluding the latest acquisitions this year, currently Kassian Maritime has a modern fleet of ten (10) dry bulk carriers. Moreover, Kassian Maritime has an ultramax bulk carrier under construction at Mitsui Shipyard. 12-April-2018
Greek shipowner and operator Kassian Maritime bought kamsarmax dry bulk carrier 2012 built 81K DWT MV Grand Ocean from MSI Shipmanagement for about $13 million. Greek shipowner and operator Kassian Maritime has been renewing its fleet. In September 2016, Kassian Maritime bought 2006 built capesize bulk carrier 174K DWT MV Voge Master and 2001 built supramax dry bulk carrier 50K DWT MV Virginia. 27-November-2016