Athens-based shipowner and operator Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold 2000 built capesize bulk carrier 172K DWT MV Sunlight for demolition. Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Sunlight as is in Singapore at around $572 LDT (Light Displacement Tonnage). Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Sunlight to a Bangladesh ship breaker. As the monetary stress in Bangladesh eases, Bangladesh demolition yards lure with some high-value scrapping contracts. Bangladeshi ship demoliton market has been impressing all shipbrokers. 7-March-2023
Greek shipowner and operator Nicholas G Moundreas (NGM) acquired 2011 built capesize bulk carrier 181K DWT MV Frontier Phoenix for around $34 million. Furthermore, Nicholas G Moundreas (NGM) acquired 2011 built capesize bulk carrier 176K DWT MV DS Charme for around $28 million from Ds Schiffahrt GmbH & Co KG. In August 2021, capesize bulk carriers’ earnings increased to $50K per day in the spot market. Some shipowners feel that they do not want to regret it later. Previously, Athens-based Nicholas G Moundreas (NGM) acquired several tankers from Ds Schiffahrt GmbH & Co KG. 6-September-2021
Greek shipowner and operator Nicholas G Moundreas (NGM) subsidiary NGM Energy SA sold 2013 built panamax bulk carrier 79K DWT MV Countess I for around $19 million. In 2013, Nicholas G Moundreas (NGM) acquired MV Countess I for around $22 million as a new-building resale from the shipyard. 14-June-2021
Athens-based shipowner and operator Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold 2001 built capesize bulk carrier 172K DWT MV Ganbei for demolition. Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Ganbei as is in Singapore at around $390 LDT (Light Displacement Tonnage). The price is declared to include 400 tons of bunkers. Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA sold MV Ganbei to a Bangladesh shipbreaker. This is a reasonable deal for Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA, which is now earning an estimated $8.4 million for MV Ganbei. Nicholas G Moundreas’s (NGM) subsidiary NGM Energy SA acquired 2001 built capesize bulk carrier 172K DWT MV Ganbei three years ago for around $9.5 million. Bulker carrier demolition numbers have been going through the roof as freight rates collapse. Scrapping of bulk carriers increased by 129% year-on-year in terms of tonnage to 2.4 million DWT (Deadweight Tonnage). Capesize bulk carriers account for the extensive majority of that ship demolition activity. Approximately 2 million DWT (Deadweight Tonnage) were scrapped, up 146% year-on-year. 14 capesize bulk carriers have been sold for demolition so far in 2020, up from 5 in the same period of 2019. 19-February-2020
Greek shipowner and operator Nicholas G Moundreas (NGM) has bought two 2001 Japanese built capesize dry bulk carriers 172K DWT MV Ganbei (ex MV Ce-Alliance) and 170K MV Win Win (ex MV Ce-Duke) for around $9.5 million each. Nicholas G Moundreas (NGM) acquired the capesize dry bulk carriers just before the dry bulk market began picking up. Greek shipowner and operator Nicholas G Moundreas (NGM) bought capesize dry bulk carriers from Greek Centrofin Management. In January 2017, Nicholas G Moundreas (NGM) sold two 1997 capesize dry bulk carriers MV Natty and MV Tango to scrapyards for around $7 million each. Greek shipowner and operator Nicholas G Moundreas (NGM) tanker arm NGM Energy has a fleet of 18 tankers. 30-March-2017