Switzerland based shipowner and operator Massoel Shipping sold 2002 built handysize bulk carrier 20K DWT MV Andermatt to New Kronos Star Maritime for around $2 million. Greek shipowner and operator New Kronos Star Maritime has renamed MV Andermatt as MV Agios Porfyrios. Switzerland based shipowner and operator Massoel Shipping has exited the bulker sector with the sale of last bulk carrier MV Agios Porfyrios (ex MV Andermatt). In June 2020, Massoel Shipping sold 2003 built handysize bulk carrier 20K DWT MV Lugano for around $2.5 million. In March 2020, Massoel Shipping sold 2002 built supramax bulk carrier 50K DWT MV Luzern for around $5.5 million to Oryx Shipping. In 2019 summer,
Geneva-headquartered shipowner and operator Massoel Shipping was operating 12 bulk carriers. Earlier, Massoel Shipping was a partner of B Skaugen Shipping. B Skaugen Shipping was holding a 49% stake in joint venture shipowner Massmariner. Geneva-headquartered shipowner and operator Massoel Shipping was formed in 1982 by ex Acomarit manager Giorgio Sulser. 26-August-2020
Switzerland based shipowner and operator Massoel Shipping has advanced further in its conspicuous contraction of the firm’s fleet. Switzerland based shipowner and operator Massoel Shipping has secured a commercial purchaser for a handysize bulker crafted by Sekwang Shipbuilding, marking yet another transaction in an ongoing series. Industry insiders indicated that Massoel Shipping has divested its 2002 built handysize bulk carrier 20K DWT MV Martigny to an unidentified buyer at a modest sum of $2.9 million. 2002 built handysize bulk carrier 20K DWT MV Martigny awaits its impending dry docking. Massoel Shipping, a Swiss establishment, remains reticent regarding its corporate transactions. This divestiture follows a series wherein the Geneva-centric Massoel parted with over half of its bulk carrier fleet, commencing the previous July. For instance, this past January, whispers in the shipping industry suggested Massoel Shipping divested its sistership 2002 built handysize bulk carrier 20K DWT MV Andermatt for a neat sum of $4 million. MV Andermatt had been on the market for an extended duration. In the subsequent September, Switzerland based shipowner and operator Massoel Shipping parted with another counterpart, 2002 built handysize bulk carrier MV Arosa, transferring ownership to Egypt-based shipowner and operator Reknav at a rate of $4.5 million. In the ensuing autumn, two additional handysize bulkers were relinquished by the Switzerland based shipowner and operator Massoel Shipping. Founded in the early 1980s by ex-Acomarit Chief Georgio Sulser, the Swiss maritime magnate Massoel Shipping initiated this significant downsizing of its bulker engagements, highlighted by the divestment of the 2001 handysize bulk carrier 46K DWT MV Glarus for a considerable $6.1 million the preceding July. MV Glaru’s ownership transitioned to PM Pioneer of the Marshal Islands. This retreat from maritime ownership synchronized with the sale executed by affiliate B Skaugen, disposing of its 49% interest in the collaborative enterprise Massmariner, erstwhile proprietor of the bulkers. 8-March-2020
Switzerland-based shipowner and operator Massoel Shipping continues its trend of reducing its bulk carrier fleet, with two of its bulk carriers detained in the UK this past October. Recently, 2011 built handysize bulk carrier 31K DWT MV Thurgau was acquired by an anonymous Greek shipowner and operator for an approximated $6.7 million. Notably, the handysize bulk carrier 31K DWT MV Thurgau was built in China. This transaction is the newest among several that have led European shipbrokers to ponder over Massoel Shipping’s future aspirations in ship ownership. The previous month, Switzerland-based shipowner and operator Massoel Shipping divested 2002 built handysize bulk carrier 20K DWT MV Aros (ex MV Clipper Reunion) purportedly for a sum of $4.5 million. MV Aros (ex MV Clipper Reunion) was initially acquired by Massoel Shipping for an impressive $21.7 million in 2007. Currently, MV Aros (ex MV Clipper Reunion) sails under Reknav Management of Egypt, rechristened as the MV Rek Noble. Furthermore, another vessel of the same lineage, 2002 built handysize bulk carrier 31K DWT MV Andermatt, is currently available for acquisition. In an earlier transaction in July, Switzerland-based shipowner and operator Massoel Shipping parted with 2001 built handysize bulk carrier 46K DWT MV Glarus reputedly for $6.1 million. MV Glarus resurfaced under the aegis of FB Pioneer of the Marshall Islands, now christened as the MV Sinoway Lily. Highlighting their recent misfortunes, two of Geneva-headquartered shipowner and operator Massoel Shipping’s handysize bulkers encountered detention in the United Kingdom on October 8th. The rationale behind this action was a failure to compensate crew wages and other identified inadequacies, as disclosed by the MCA (Maritime & Coastguard Agency). In the aforementioned detention, 2002 built handysize bulk carrier 20K DWT MV Martigny, faced detention in Hull Port, grounded on 12 identified inadequacies, with unpaid crew wages being a principal concern. Simultaneously, the MCA (Maritime & Coastguard Agency) seized another 2003 built handysize bulk carrier 20K DWT MV Lugano, in Avonmouth, citing 18 shortcomings and an additional four reasons for its detention. MCA (Maritime & Coastguard Agency) investigations revealed an absence of crew payment, inadequate ISM, malfunctioning steering gear, and a compromised heating, ventilation, and air conditioning system. Both the MV Lugano and MV Martigny were eventually liberated by the MCA (Maritime & Coastguard Agency) on October 15th and 28th respectively. In corporate circles, Switzerland-based shipowner and operator Massoel Shipping seems to be fading from the international limelight. The Norwegian B Skaugen, once a collaborator holding a 49% share in Massoel Shipping’s bulker fleet via subsidiary Massmariner, has since disengaged. While the specifics remain undisclosed, Norwegian B Skaugen reportedly refrained from participating in Massoel Shipping’s company restructuring. Martinius Skaugen, a shipowner, has remained reticent on the purchaser of the Norwegian B. Skaugen shares. Historically, Norwegian B. Skaugen owned 2002 built supramax bulk carrier 50K DWT MV Luzern valued at around $6.5 million. Massoel Shippinghad previously acquired it in 2009 for a considerable $21.9 million. Despite numerous attempts to garner a response, Geneva-headquartered Massoel Shipping remains silent on its current sales endeavors. The Geneva-headquartered Massoel Shipping, established in 1982 by Georgio Sulser, a past magnate of ship management firm Acomarit, presently commands a fleet of eight bulkers with an average tenure of 12 years. 16-November-2019
The cost marginally surpasses what Switzerland based shipowner and operator Massoel Shipping recently secured for the somewhat younger 2011 built handysize bulk carrier 32K DWT MV Thurgau. 2011 built handysize bulk carrier 32K DWT MV Thurgau, hailing from a Chinese shipyard, purportedly commanded a price of $6.7 million. Switzerland based shipowner and operator Massoel Shipping remains an active seller; however, in stark contrast to Oldendorff, it has been significantly contracting its fleet. Current shipbroker discussions suggest that the 2010 built handysize bulk carrier 32K MV Aargau, sister ship of the MV Thurgau, has been transferred for a sum of $5.8 million. Geneva-headquartered shipowner and operator Massoel Shipping remains silent, declining to confirm the sales’ particulars. Such transactions underscore the price fluctuations between ships built in China and those from Japan. Maritime intermediaries highlight that P&P Shipping from Greece procured an impressive $5.2 million for its Japanese 2001 built handysize bulk carrier 32K MV Atalanta, whose acquisition by an anonymous party has been noted. 15-November-2019
In a further refinement of its maritime collection, Switzerland-based shipowner and operator Massoel Shipping has divested itself of another handysize bulk carrier. According to the whispers amongst European shipbrokers, the distinguished Swiss shipowner and operator Massoel Shipping has elegantly parted with 2002 built handysize bulk carrier 20K DWT MV Aros (ex MV Clipper Reunion). The craft has found a new domicile with an Egyptian connoisseur, fetching a sum of $4.5 million. Noted shipbrokers opine that MV Aros (ex MV Clipper Reunion) of such exquisite dimensions are indeed a scarce commodity, rendering them irresistibly appealing, and concurrently presenting a formidable challenge for valuation entities. 2002 built handysize bulk carrier 20K DWT MV Aros (ex MV Clipper Reunion) was procured by Geneva-headquartered shipowner and operator Massoel Shipping in February 2007 for a princely sum of $21.7 million. Presently, the Swiss magnate Massoel Shipping boasts ownership of three of its sisterships, with one, 2002 built handysize bulk carrier 20K DWT MV Andermatt, awaiting a new steward. In a transaction concluded in July, Massoel Shipping bid adieu to another of its bulkers, 2001 handysize bulk carrier 46K DWT MV Glarus, realizing an impressive $6.1 million. 2001 handysize bulk carrier 46K DWT MV Glarus has resurfaced under the vigilant aegis of FB Pioneer of the Marshall Islands, now gracing the waters as the MV Sinoway Lily. Swiss shipowner and operator Massoel Shipping having been established in the annals of 1982 by the esteemed Georgio Sulser, once the mastermind behind Acomarit of Geneva, remains reticent regarding its recent nautical divestitures. The firm commands a fleet ranging from 12,600 DWT to an imposing 50,000 DWT, all bearing an average vintage of a 12 years. Recent dispatches unveiled that B Skaugen of Norway has gracefully withdrawn from its Massmariner bulker collaboration with Geneva-headquartered shipowner and operator Massoel Shipping. The Norwegian titan, under the watchful eye of CEO Martinius Skaugen, remains cryptic about the new curator of its stake in the venture, only hinting at B Skaugen’s desire to abstain from the forthcoming metamorphosis of Massmariner. 25-September-2019
Norwegian investor Bryn Skaugen is planning to exit shipping with stake sale in Massmariner which is a bulker joint venture with Switzerland based Massoel Shipping. Bryn Skaugen’s company B Skaugen has held a 49% stake in Massmariner and owned nine (9) bulk carriers. CEO Martinius Skaugen explained that B Skaugen did not want to take part in a restructuring of Massoel Shipping. Norwegian B Skaugen’s move comes four (4) years after the company considered the bulk market to be so challenging that B Skaugen wrote down the shares in the venture by $6.62 million to zero (0). CEO Martinius Skaugen has cleared that B Skaugen does not have debt and focuses primarily on real estate and shares, among other assets. CEO Martinius Skaugen does not rule out a comeback in shipping in forthcoming years. In 2014, B Skaugen had a book value of NOK 543 million, against NOK 308 million in 2018. Shares in the B Skaugen are owned by Bryn Skaugen and his sons, Martinius Skaugen and Nicolai Skaugen. Norwegian investor Bryn Skaugen’s cousin Morits Skaugen controlled gas tanker company IM Skaugen went bankrupt in 2018. Bryn Skaugen and his cousin Morits Skaugen had no cooperation since they split amicably in 1990. Bryn Skaugen has been in bulk market and Morits Skaugen has been in the gas market. CEO Martinius Skaugen’ great grandfather Isak Martinius Skaugen formed IM Skaugen in 1916. Brothers Brynjulf Skaugen Sr and Morits Skaugen established Royal Caribbean Cruise Line in 1975. 6-September-2019
Switzerland based Massoel Shipping’s 2001 built handymax dry bull carrier 47K DWT MV Glarus was attacked off Bonny Island, Nigeria and 12 of 19 crew kidnapped. Geneva-headquartered Massoel Shipping has informed that contact made with pirates. Crew members were being kept together and are safe. MV Glarus is now safely alongside at Port Harcourt, Nigeria with the remaining 7 crew members on board. Switzerland’s Massoel Shipping’s first and absolute priority being the safe release of the crew members. Nigerian media reported that a search and rescue (SAR) operation had begun. Nigerian Maritime Academy said the mission has been launched for the 12 kidnapped crew members. Nigerian navy said it had begun an investigation that will lead to the rescue of the seafarers. 47K DWT MV Glarus was carrying wheat between Lagos and Port Harcourt when it was attacked by pirates. 19-December-2018