Adam Polemis-led Athens-based shipowner and operator New Shipping Limited is associated with the first acquisition of a bulk carrier in almost four years. Greek shipowner and operator New Shipping Limited is making a move to acquire a capesize bulk carrier from Monaco-based John Michael Radziwill-led shipowner and operator GoodBulk Ltd (GBLK), a frequent seller of capesize bulk carriers. This marks Adam Polemis-led Athens-based shipowner and operator New Shipping Limited’s return to purchasing bulk carriers since November 2019, highlighting the increasing interest of Greek shipowners in capesize sector. Athens-based shipowner and operator New Shipping Limited is investing approximately $18.3 million for the capesize bulk carrier of GoodBulk Ltd (GBLK). 12-July-2023
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited appears to be divesting yet another crude carrier for demolition at an enticing price, fostering a robust market. Amidst the escalating values of aging tankers, a solid foundation is being established for secondhand prices. Reports from shipbrokers in London and the United States reveal that Greek shipowner and operator New Shipping Limited has reached an agreement to dismantle the 2001 built aframax tanker 105,800 DWT MT Star I in Gadani, Pakistan. New Shipping Limited sold MT Star I to Pakistan-based demolition yard at a remarkable rate of $650 per LDT (Light Displacement Tonnage). 7-March-2022
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited plans to sell 2002 built VLCC (Very Large Crude Carrier) 298,000 DWT MT New Inspiration for around $660 per LDT (Light Displacement Tonnage). Fresh scrap benchmark is anticipated as Athens-based shipowner and operator New Shipping Limited calls for offers on VLCC (Very Large Crude Carrier). New Shipping Limited has initiated the process of soliciting bids for a VLCC scrapping transaction, which could potentially establish a new pricing standard for aging tankers. Shipbokers have reported that the Greek shipowner and operator New Shipping Limited is now formally accepting offers for the 2002 built VLCC (Very Large Crude Carrier) 298,000 DWT MT New Inspiration, which is in a completely gas-free condition. 7-February-2022
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited has successfully divested its oldest Very Large Crude Carrier (VLCC) for the purpose of demolition. 2000 built VLCC (Very Large Crude Carrier) 299,000 DWT MT New Diamond is marking the company’s first VLCC sale for scrapping in a span of three years, has been traded according to industry experts specializing in demolition. According to shipbrokers, 2000 built VLCC (Very Large Crude Carrier) 299,000 DWT MT New Diamond has garnered approximately $22 million. However, specific details regarding the transaction remain somewhat obscure. 26-May-2021
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited is divesting an aframax tanker at a remarkable valuation through a scrap transaction. According to shipbrokers, the most seasoned tanker of New Shipping is said to be en route to Pakistan. Prominent shipbrokers in the demolition market have conveyed that the company has successfully offloaded the 1998 built 107,000 DWT tanker MT New Paros to Pakistan for an impressive sum of $408 per LDT (Light Displacement Tonnage), totaling $6.8 million. 15-November-2020
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited resumes ship purchases with Martinos’ aframax tanker, following a successful recovery from a fire incident on one of its VLCC (Very Large Crude Carrier). Athens-based shipowner and operator New Shipping Limited has replaced a 22-year-old tanker with a 17-year-old counterpart. New Shipping Limited adheres to its strategy of acquiring tankers that are between 14 and 17 years old. 2003 built 107,000 DWT tanker MT Paros (ex MT Minerva Emma) was recently reported to have been sold to undisclosed buyers. MT Paros (ex MT Minerva Emma) now falls under the management of the Greek shipowner and operator New Shipping Limited. 8-November-2020
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited, along with Muhit Maritime, is aiming to engage in aframax recycling sales. Experts in the field anticipate that there will not be a substantial increase in tanker demolition activity until the following year. According to demolition shipbrokers, two aframax tankers are set to be sold for recycling in the near future. However, shipbrokers caution that it is premature to expect a significant surge in this particular sector at the moment. 22-October-2020
Sri Lanka has declared its intention to initiate legal proceedings for pollution and negligence against the captain of a Greek Very Large Crude Carrier (VLCC) that discharged fuel into the sea following a fire incident. 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond, managed by Adam Polemis-led Athens-based shipowner and operator New Shipping Limited, experienced a conflagration in the Indian Ocean earlier this month, resulting in the formation of an extensive oil slick spanning over a mile of water, as confirmed by Sri Lanka’s coastguard. A spokesperson for Attorney-General Dappula de Livera stated in Colombo, Sri Lanka that there is substantial evidence to indict the skipper under the marine pollution act as well as the penal code for criminal negligence. In light of this, the Colombo Magistrate has issued a summons for the Greek national to appear in court on 28 September. Most of the fuel that escaped from New Shipping Limited controlled 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond has been successfully remediated, and no further leakages have been reported since Friday. Moreover, De Livera has submitted a claim amounting to $1.83 million to New Emporios Shipping, the MT New Diamond’s owner, to cover the expenses incurred during firefighting operations. Nishara Jayaratne, the coordinating officer to the Attorney-General state counsel, informed the media that the MT New Diamond will not be permitted to depart until the compensation has been settled. Additionally, the government has stated that it will seek further financial restitution from the registered shipowner New Emporios Shipping to cover the costs of environmental cleanup and damages, as per an official statement. 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond currently rests approximately 139 kilometers off the coastal town of Batticaloa in Sri Lanka. Tragically, one crew member lost their life due to a boiler explosion en route to Paradip, India. Of the remaining 22 crew members, including the captain, they have been successfully rescued and are currently undergoing quarantine at a hotel in Galle. Throughout the incident, there has been a conspicuous silence from the owners and managers of New Shipping Limited, led by Adam Polemis. New Shipping Limited has not released any statements regarding the fire. Following the removal of water from the flooded engine room, the subsequent phase of salvage operations for the fire-damaged MT New Diamond is scheduled to commence. 16-September-2020
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited controlled 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond inferno subdued as Very Large Crude Carrier (VLCC) is towed into the vastness of the ocean. Authorities in Sri Lanka affirm that there is presently no immediate peril of an oil spill resulting from the fire on the MT New Diamond owned by Greek shipowner and operator New Shipping Limited. An international fleet comprising 17 vessels, accompanied by an aerial force helicopter, effectively brought the raging flames under control on a VLCC MT New Diamond navigating the Indian Ocean. This development transpired subsequent to an arduous three-day battle against the inferno engulfing the MT New Diamond. 5-September-2020
The shipping industry has encountered a significant incident as Adam Polemis-led Athens-based shipowner and operator New Shipping Limited controlled 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond’s engine room caught fire near the shores of Sri Lanka. Three naval vessels from Sri Lanka were dispatched to provide assistance to the disabled MT New Diamond. MT New Diamond is currently situated 38 nautical miles (70 km) away from the coast. The navy’s latest report indicates that the fire has been successfully contained and has not spread to the cargo tanks of the fully loaded MT New Diamond. Out of the 23 crew members on board the ship, one Filipino is missing. Additionally, one crew member has sustained injuries; however, the severity of the injuries is not yet known. The Panama-flagged 2000 built Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond was en route from Mina Al Ahmadi in Kuwait to Paradip in eastern India. MT New Diamond is currently chartered by the Indian Oil Corp. Adam Polemis-led Athens-based shipowner and operator New Shipping Limited possesses a fleet of 37 vessels, consisting of both tankers and bulk carriers, with ten of them being Very Large Crude Carriers (VLCCs). The West of England protection and indemnity club provides coverage for the Very Large Crude Carrier (VLCC) 300,000 DWT tanker MT New Diamond. Greek shipowner and operator New Shipping Limited controlled MT New Diamond is classified by Japan’s ClassNK. 2-September-2020
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited has recently acquired another Very Large Crude Carrier (VLCC) from Mitsui OSK Lines, as prices in the market calm down. The deal for this 15-year-old oil tanker was concluded at a significantly lower rate than what was observed earlier this year. However, analysts view the achieved price as still encouraging. Greek shipowner and operator New Shipping Limited acquired Very Large Crude Carrier (VLCC) 302,000 DWT tanker MT Otowasan. Athens-based shipowner and operator New Shipping Limited has been actively expanding its Very Large Crude Carrier (VLCC) fleet. 13-August-2020
Adam Polemis-led Athens-based shipowner and operator New Shipping Limited acquired 2005 built newcastlemax bulk carrier 203K DWT MV Captain Leonidas (ex MV Azul Fortuna) for around $15 million from Japanese shipowner Kotobuki Kaiun in November 2019. Currently, MV Captain Leonidas (ex MV Azul Fortuna) market value is around $12 million due to coronavirus pandemic. Previously, MV Captain Leonidas (ex MV Azul Fortuna) was believed to have been bought by Eyal Ofer led Zodiac Maritime. At that time, Zodiac Maritime was expanding its fleet by acquiring secondhand bulk carriers. Adam Polemis-led Athens-based shipowner and operator New Shipping Limited registered MV Captain Leonidas (ex MV Azul Fortuna) on Bliss Holding Cooperation which shares the same Athens address with New Shipping. New Shipping has bareboat chartered four (4) newcastlemax bulk carriers to German bulker giant Oldendorff Carriers. However, MV Captain Leonidas (ex MV Azul Fortuna) will be traded at the spot market. Currently, Athens-based shipowner and operator New Shipping Limited has a mixed fleet of 38 bulk carriers and crude carriers. 7-April-2020