Athens-based shipowner and operator Navitas Compania Maritima SA has now surfaced as the purchaser behind a shrewd capesize bulk carrier acquisition, stepping into a firmer S&P (Sale and Purchase) market at a time when values for larger bulk carriers continue to climb. Capesize bulk carriers have once again taken centre stage in this week’s S&P (Sale and Purchase) shipbroker reports, with Greek and Chinese shipowners driving a renewed burst of buying activity in March 2026 as market focus shifts back toward the largest dry bulk carrier class. Although recent interest had been concentrated in the kamsarmax bulk carrier and supramax bulk carrier segments, particularly among early-2010s-built bulk carrier tonnage, the spotlight is now turning decisively toward capesize bulk carriers, where stronger asset prices and revived purchasing appetite are fuelling another series of deals. Among the transactions drawing attention, the 2007-built capesize bulk carrier 177K DWT MV Thanksgiving, previously known as MV Lucky Carina and built at Shanghai Waigaoqiao Shipbuilding, has been sold for about $24 million. That figure represents a clear rise from the $20.5 million reportedly achieved by the identical sister capesize bulk carrier MV Antonis Angelicoussis in December 2025, demonstrating how noticeably values and sentiment have improved over a relatively short period. The buyer has now been revealed as Athens-based shipowner and operator Navitas Compania Maritima SA, a low-profile Greek dry bulk owner that is gradually increasing its footprint in the large bulk carrier segment. The addition of capesize bulk carrier MV Thanksgiving gives Navitas Compania Maritima SA its second capesize bulk carrier and further expands a fleet that appears to remain fully dedicated to bulk carriers. Available fleet information suggests that Navitas Compania Maritima SA operates 12 vessels with combined deadweight of more than 2.3 million metric tons, and the fleet is understood to consist entirely of bulk carriers. Navitas Compania Maritima SA is also linked with Kifisia in Athens, reinforcing its profile as an Athens-based shipowner and operator with a focused dry bulk orientation. That background makes the latest purchase particularly striking. Navitas Compania Maritima SA does not publicly resemble a broad-based diversified shipping platform, but instead appears to be a specialised Greek bulk carrier owner whose fleet strategy looks measured, selective, and carefully controlled. The acquisition of capesize bulk carrier MV Thanksgiving therefore seems less like straightforward fleet expansion and more like a calculated move deeper into the capesize bulk carrier market at a time when secondhand prices are strengthening and transaction momentum is building again. Market talk in recent months has also connected Navitas Compania Maritima SA with other bulk carrier dealings, suggesting that the fleet may be undergoing purposeful reshaping rather than merely growing in size. Viewed in that context, the purchase of capesize bulk carrier MV Thanksgiving indicates that Navitas Compania Maritima SA is continuing to sharpen and reinforce its dry bulk carrier portfolio, using the present market environment to increase its exposure to the capesize bulk carrier trade while retaining the compact and specialised character that has so far defined the Athens-based shipowner and operator. 17-March-2026
Athens-based shipowner and operator Navitas Compania Maritima SA has taken another step in broadening its dry bulk footprint through the acquisition of the 2010-built post-panamax bulk carrier 93K DWT MV Mountain Lion, formerly known as MV Charlotte Oldendorff, from Oldendorff Carriers in a transaction reported at around $15.5 million. The deal gives Athens-based shipowner and operator Navitas Compania Maritima SA deeper exposure to the post-panamax bulk carrier segment and leaves the Greek owner in control of two sister post-panamax bulk carriers built in China, underlining a clear preference for this specific type and origin of tonnage. The transaction also matches the wider identity of Navitas Compania Maritima SA as a focused Greek dry bulk owner whose fleet remains entirely concentrated on bulk carriers. Available fleet information connects Navitas Compania Maritima SA with 12 ships and total carrying capacity of more than 2.3 million DWT, while also linking the business to Kifisia in Athens, reinforcing its profile as a specialised bulk carrier platform rather than a diversified shipping group. Seen in that light, the acquisition of MV Mountain Lion looks less like a standalone purchase and more like part of a carefully structured long-term fleet strategy. Navitas Compania Maritima SA has built a reputation as a relatively discreet yet steadily advancing presence in the Greek bulk carrier market, and its increasing interest in Chinese-built post-panamax bulk carriers suggests a deliberate preference for familiar designs, fleet commonality and commercially proven asset types. By securing two sister ships constructed at Yangfan Group’s Zhoushan Shipyard, Navitas Compania Maritima SA is not simply enlarging fleet size, but also refining a selective expansion strategy centred on practical dry bulk tonnage and measured portfolio growth. The latest acquisition therefore marks another notable step for Navitas Compania Maritima SA as the Athens-based shipowner and operator continues to reinforce its position in the bulk carrier sector through carefully chosen purchases rather than rapid or highly visible fleet growth. 12-April-2024
What should really be regarded as a bargain in today’s unstable dry bulk market remains a matter of sharp disagreement. Unsurprisingly, S&P (Sale and Purchase) shipbrokers and ship operators continue to approach the subject from very different angles. Western Bulk Chartering maintained that although the dry bulk market had returned to more sustainable territory, conditions were still far removed from any sense of celebration. Seen from that perspective, analyst commentary can easily create a misleading impression of the broader market environment. Existing freight levels do not entirely support current asset prices or newbuilding values, and the general expectation has been that prices for modern tonnage would strengthen only gradually rather than rise dramatically. S&P (Sale and Purchase) shipbrokers, however, have continued to point to what they describe as compelling opportunities in an unsettled and rapidly shifting secondhand market. Secondhand bulk carrier prices have remained comparatively low by longer-term standards, and market sentiment has increasingly moved toward the belief that further bargain acquisitions may still be available, while the number of completed transactions has added weight to that argument. The supramax bulk carrier segment has been particularly active and has represented a substantial share of dry bulk sale and purchase activity. Against that backdrop, more shipowners appear to be embracing the bargain case, with yet another active week of concluded ship sales reported across the market. One of the transactions drawing particular notice involved the 2002-built Japanese capesize bulk carrier 177K DWT MV Southern Explorer, which several market reports said was sold by Japanese shipowner Mizuho Sangyo to Athens-based shipowner and operator Navitas Compania Maritima SA for around $13.5 million. The reported deal once again places Navitas Compania Maritima SA in focus as a concentrated Greek dry bulk owner that has expanded steadily through selective secondhand acquisitions rather than fast or highly visible fleet growth. Available fleet information links Navitas Compania Maritima SA with an all-bulk-carrier fleet of 12 ships and aggregate carrying capacity of 2,320,886 metric tons, with the business based in Kifisia, Athens. That profile suggests that Navitas Compania Maritima SA is not attempting to diversify across different shipping sectors, but is instead pursuing disciplined growth within dry bulk, using periods of market weakness and asset repricing to strengthen its position one ship at a time. In that respect, the acquisition of capesize bulk carrier MV Southern Explorer appears less like a standalone purchase and more like part of a structured long-term fleet strategy by Athens-based shipowner and operator Navitas Compania Maritima SA, which continues to enlarge its presence in the bulk carrier market through carefully timed acquisitions of established secondhand tonnage. In a separate transaction, Japanese leasing firm Century Tokyo acquired the 2002-built Japanese panamax bulk carrier 77K DWT MV Nord Hydra from Hong Kong-based Grace Ocean Investment for an undisclosed sum, and the ship was subsequently fixed to Copenhagen-based shipowner and operator Dampskibsselskabet DS Norden A/S on a time charter arrangement. 28-November-2018
Malaysian Bulk Carriers (Maybulk) has taken steps to market two more bulk carriers as the Malaysian owner continues adjusting its fleet during one of the harshest downturns the dry bulk shipping market has experienced. Malaysian Bulk Carriers (Maybulk) is reported to be negotiating the sale of the kamsarmax bulk carrier 87K DWT MV Alam Padu and the supramax bulk carrier 53K DWT MV Alam Muni, soon after the reported disposal of the kamsarmax bulk carrier 87K DWT MV Alam Pesona for about $6.8 million to Athens-based shipowner and operator Navitas Compania Maritima SA. That reported transaction once again brings Navitas Compania Maritima SA into focus as a Greek bulk carrier owner that has gradually assembled its fleet through selective secondhand acquisitions rather than rapid or highly visible expansion. Athens-based shipowner and operator Navitas Compania Maritima SA has earned a reputation as a low-profile yet active buyer in the bulk carrier market, with a fleet strategy that appears centred on carefully timed opportunities in the secondhand sector. Over recent years, Navitas Compania Maritima SA has repeatedly emerged in connection with bulk carrier acquisitions, particularly in the larger dry bulk segments, pointing to a measured approach to fleet growth and asset accumulation. The reported purchase of kamsarmax bulk carrier MV Alam Pesona fits neatly into that pattern, indicating that Navitas Compania Maritima SA remains prepared to expand when prices, timing and market conditions are favourable. For Navitas Compania Maritima SA, the addition of a kamsarmax bulk carrier from Malaysian Bulk Carriers (Maybulk) would also widen its dry bulk exposure and strengthen its standing as an Athens-based shipowner and operator pursuing steady but deliberate growth in the global bulk carrier market. At the same time, Malaysian Bulk Carriers (Maybulk) posted its first annual loss on record in March, reporting a deficit of around $282 million for the 2015 financial year. Malaysian Bulk Carriers (Maybulk) said 2016 was expected to be another difficult year for dry bulk shipping, adding that China’s seaborne coal imports were likely to fall further, while stronger demolition activity, fewer dry bulk deliveries and rising lay-ups were expected to ease tonnage overcapacity. Malaysian Bulk Carriers (Maybulk) currently controls a fleet of 24 ships, consisting of 21 bulk carriers and 3 tankers. 22-May-2016