Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., led by Ismini Panagiotidi, has moved one of Icon Energy Corp.’s panamax bulk carrier employment contracts from an index-linked arrangement to a fixed-rate structure, giving Icon Energy Corp. clearer revenue visibility for the remaining months of 2026. Greek shipowner and operator Icon Energy Corp. has once again used a charter conversion right to shift a bulk carrier away from floating market-linked earnings and place the ship on a fixed daily hire. The 2006 Japanese-built 77K DWT panamax bulk carrier MV Alfa is employed on time charter with what Icon Energy Corp. describes as an international commodity trading conglomerate for an indefinite period. The charter may be ended by either party with three months’ notice, although the agreement cannot be terminated before July 2026. Under the original time charter terms, panamax bulk carrier MV Alfa was earning a floating daily hire linked to the Baltic Panamax Index (BPI), while Icon Energy Corp. retained the option to convert the employment into a fixed-rate charter. Icon Energy Corp. has now exercised that option and locked in a fixed rate for the seven-month period from June to December 2026. The agreed fixed time charter hire rate for panamax bulk carrier MV Alfa is $18,000 per day, adding around $3.7 million to Icon Energy Corp.’s estimated minimum contracted revenue. The other two bulk carriers owned by Athens-based shipowner and operator Icon Energy Corp., MV Bravo and MV Charlie, remain employed on floating daily hire rates. The conversion of MV Alfa to fixed-rate employment gives Icon Energy Corp. a more stable earnings base during a period when dry bulk markets remain vulnerable to changes in freight sentiment, cargo demand, port congestion, fleet availability, and wider economic conditions. For a smaller listed shipowner and operator such as Icon Energy Corp., securing part of the fleet’s revenue can be commercially important because fixed hire supports cash-flow planning and reduces exposure to sudden weakness in the Baltic Panamax Index (BPI). At the same time, Icon Energy Corp. still keeps market-linked upside through MV Bravo and MV Charlie, allowing Icon Energy Corp. to benefit if dry bulk rates rise further. Icon Energy Corp. is a Greek dry bulk shipowner and operator headquartered in Athens and listed on Nasdaq. Icon Energy Corp. operates in the dry bulk shipping market, where ships carry raw materials and bulk commodities including coal, grain, iron ore, bauxite, fertilizers, steel products, cement, and other industrial cargoes. Icon Energy Corp.’s fleet is modest when compared with larger public dry bulk owners, which means every chartering decision can have a noticeable effect on Icon Energy Corp.’s revenue base, earnings outlook, and investor perception. Because Icon Energy Corp. owns only a limited number of bulk carriers, the employment profile of MV Alfa, MV Bravo, and MV Charlie is especially important for Icon Energy Corp.’s financial performance. Icon Energy Corp.’s commercial approach appears to combine floating-rate opportunity with selective fixed-rate protection. Index-linked charters can be attractive during a rising freight market because daily hire can increase alongside market benchmarks such as the Baltic Panamax Index (BPI). However, index-linked employment also leaves a shipowner exposed when freight sentiment weakens. By fixing MV Alfa at $18,000 per day from June to December 2026, Icon Energy Corp. has created a defined revenue stream for one ship while keeping the other two bulk carriers open to market movement. This gives Icon Energy Corp. a blended earnings structure, with part of the fleet protected by secured income and part of the fleet still positioned for index-linked gains. Panamax bulk carriers such as MV Alfa remain important in dry bulk shipping because panamax bulk carriers are widely used in grain, coal, minor bulk, and selected ore-related trades. A 77K DWT panamax bulk carrier provides cargo flexibility and can serve a wide range of ports, cargo interests, and charterers. For Icon Energy Corp., operating a Japanese-built panamax bulk carrier gives Icon Energy Corp. exposure to a core dry bulk segment where employment opportunities depend on commodity flows, seasonal grain movements, coal demand, industrial production, and raw material transportation. Japanese-built bulk carriers are often valued in both the chartering and secondhand markets because of their reputation for construction quality, reliability, and long operating life when properly maintained. The fixed-rate conversion also demonstrates the value of chartering flexibility for Icon Energy Corp. Many dry bulk employment contracts are structured to give owners the ability to move between floating rates and fixed rates depending on market conditions. This flexibility can help a shipowner manage freight risk more effectively. If forward market sentiment appears uncertain or if a fixed-rate level is attractive compared with expected index performance, switching to fixed hire can protect income. If the market is rising strongly, remaining index-linked can deliver stronger earnings. Icon Energy Corp.’s decision to fix MV Alfa at $18,000 per day suggests Icon Energy Corp. wanted dependable income for the second half of 2026 while maintaining floating-rate exposure through the rest of Icon Energy Corp.’s fleet. For investors, the $3.7 million addition to estimated minimum contracted revenue is meaningful because it provides clearer visibility over Icon Energy Corp.’s near-term cash generation. Smaller listed shipping businesses are often closely assessed on charter coverage, daily operating costs, debt obligations, liquidity, fleet age, counterparty risk, and market exposure. By fixing MV Alfa for seven months, Icon Energy Corp. can present a firmer revenue base during a period when dry bulk earnings may continue to move sharply. This can help Icon Energy Corp. manage operating expenses, financing commitments, voyage-related uncertainties, and broader corporate planning. The employment of MV Alfa with an international commodity trading conglomerate also underlines the close relationship between dry bulk owners and major commodity trading houses. Commodity traders require dependable ships to move bulk cargoes across global trade lanes, while shipowners require charterers with steady cargo demand and reliable payment capacity. For Icon Energy Corp., having MV Alfa employed by a major international commodity trading counterparty can support utilization, revenue continuity, and commercial stability. The indefinite charter structure, together with the three-month notice period and the earliest termination date in July 2026, gives both sides flexibility while still providing Icon Energy Corp. with a contracted operating framework. Icon Energy Corp.’s compact fleet means Icon Energy Corp. must make careful choices about charter duration, counterparty quality, rate exposure, and market timing. Larger shipowners can spread market risk across many ships, different dry bulk segments, and multiple charterers. Icon Energy Corp. has less fleet diversification, so each ship employment decision carries greater weight. The conversion of MV Alfa to fixed-rate earnings is therefore more than a routine chartering update. The move directly changes Icon Energy Corp.’s earnings mix and adjusts the balance between secured revenue and market-linked potential. MV Bravo and MV Charlie remaining on floating daily rates means Icon Energy Corp. continues to participate in freight market movements through the rest of Icon Energy Corp.’s fleet. If the Baltic Panamax Index (BPI) or related dry bulk benchmarks strengthen, those two ships may benefit from higher floating hire. If rates decline, the fixed income from MV Alfa may provide some protection. This mixed structure can help a shipowner avoid being fully exposed to either a falling or rising market. Icon Energy Corp. is effectively combining stability with optionality across a small fleet. The wider dry bulk market remains highly sensitive to commodity demand and trading conditions. Grain export seasons, coal requirements, weather disruptions, port congestion, Chinese industrial activity, geopolitical tension, sanctions, canal restrictions, and fleet supply can all influence freight rates. In such an environment, fixing one ship at $18,000 per day can be viewed as a practical step to reduce uncertainty. For Icon Energy Corp., the fixed-rate conversion helps stabilize part of Icon Energy Corp.’s revenue while Icon Energy Corp. continues to monitor the performance of MV Bravo and MV Charlie under floating-rate employment. Icon Energy Corp.’s Nasdaq listing gives the chartering decision an added public-market dimension. Publicly traded shipping businesses must communicate clearly with investors about ship employment, contracted revenue, market exposure, and strategic direction. By announcing the conversion of MV Alfa to fixed-rate employment, Icon Energy Corp. provides more transparency on Icon Energy Corp.’s revenue expectations and chartering approach. The decision may be viewed as a conservative step intended to support predictable earnings during a period when dry bulk rates can change quickly. Under the leadership of Ismini Panagiotidi, Icon Energy Corp. is presenting Icon Energy Corp. as a focused dry bulk owner with a compact fleet and a chartering strategy that can be adjusted according to market conditions. Instead of leaving every ship fully exposed to daily index movements, Icon Energy Corp. is using contractual options to secure income when management considers the fixed-rate level commercially attractive. This type of active charter management can be important for smaller dry bulk owners because revenue visibility, ship utilization, and counterparty reliability are essential to financial stability. The fixed-rate period from June to December 2026 also covers a significant part of the trading year. Dry bulk rates can be affected by seasonal grain exports, energy cargo requirements, year-end cargo planning, and changes in industrial demand. By fixing MV Alfa for this period, Icon Energy Corp. has reduced uncertainty for one ship during several months when market conditions could shift sharply. The $18,000-per-day rate therefore gives Icon Energy Corp. a steady earnings contribution while the remaining ships continue to follow market-linked charter structures. The move also shows how dry bulk owners use the Baltic Panamax Index (BPI) not only as a pricing benchmark but also as a risk-management reference. Floating hire linked to the Baltic Panamax Index (BPI) allows charter rates to move with market conditions, but owners may convert to fixed rates when the available level supports revenue targets. Icon Energy Corp.’s decision to switch MV Alfa from Baltic Panamax Index (BPI)-linked hire to fixed hire shows how benchmark-linked contracts can be actively managed during the charter period rather than left unchanged. Overall, the conversion of MV Alfa’s charter improves Icon Energy Corp.’s contracted revenue position and gives Icon Energy Corp. stronger certainty over part of Icon Energy Corp.’s earnings for the second half of 2026. Athens-based shipowner and operator Icon Energy Corp. remains exposed to dry bulk market upside through MV Bravo and MV Charlie, while MV Alfa now provides fixed daily income at $18,000 per day. For Icon Energy Corp., this combination of fixed earnings and floating-rate exposure may offer a balanced structure in a volatile dry bulk market. The decision reinforces Icon Energy Corp.’s focus on active charter management, revenue predictability, disciplined ship employment, and careful earnings protection across Icon Energy Corp.’s small but commercially important panamax bulk carrier fleet. 4-June-2026
Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., under the leadership of Ismini Panagiotidi, has obtained new employment for its ultramax bulk carrier MV Charlie through an index-linked charter that may continue for as much as 20 months, keeping the ship covered deep into 2027. Greek shipowner and operator Icon Energy Corp. concluded the arrangement in March 2026, fixing the 2020-built, scrubber-fitted ultramax bulk carrier 63K DWT MV Charlie to a dry bulk operator for a term of 16 to 20 months. The fresh employment is expected to begin after the ultramax bulk carrier MV Charlie completes its current fixture at the end of April 2026, with redelivery projected in Q4 2027. Income for ultramax bulk carrier MV Charlie will stay linked to the Baltic Supramax Index (BSI), enabling Athens-based shipowner and operator Icon Energy Corp. to retain exposure to any strengthening in freight levels while still securing approximately $7.2 million in minimum contracted revenue. The charter further includes compensation associated with fuel-cost savings generated by the ultramax bulk carrier MV Charlie’s scrubber, providing an extra source of earnings support should spreads remain positive, while bunker costs will be for the charterer’s account. The latest employment is noteworthy not only because it lengthens revenue visibility, but also because it illustrates the commercial strategy Icon Energy Corp. has been shaping since its launch in 2023. Icon Energy Corp. is an international dry bulk shipping owner listed on the Nasdaq Capital Market under the symbol ICON and operates from its main executive office in Athens, Greece. Although Icon Energy Corp. remains limited in fleet size, Icon Energy Corp. has been growing in a measured and selective manner, using index-linked charters and period employment to balance freight market participation with contracted income. Besides ultramax bulk carrier MV Charlie, Icon Energy Corp. controls the panamax bulk carrier Alfa and the kamsarmax bulk carrier Bravo, leaving the fleet fully employed following this newest charter. The expansion of Icon Energy Corp. during the past two years has been closely tied to both fleet growth and financing capacity. In 2024, Icon Energy Corp. completed its public listing, took delivery of the kamsarmax bulk carrier Bravo in September 2024, and posted revenue of $5.3 million for the year, compared with $4.5 million in 2023. Icon Energy Corp. also secured a term loan facility of up to $91.5 million, of which $16.5 million had been drawn, while up to $75.0 million remained available for potential future vessel purchases, giving Icon Energy Corp. additional flexibility for further expansion. In 2025, Icon Energy Corp. strengthened its fleet profile again with the delivery of ultramax bulk carrier MV Charlie in June, introducing a younger and more fuel-efficient ship into a fleet that had previously been made up of older Japanese-built bulk carriers. That delivery materially expanded the operating base of Icon Energy Corp. and lifted its exposure to the supramax-ultramax sector, a market segment widely valued for its adaptability across both regional and global dry bulk trades. Under Ismini Panagiotidi, Icon Energy Corp. has positioned itself as a growth-oriented listed shipping platform rather than merely a small privately run owner with publicly traded shares. The sequence of vessel additions, charter coverage, capital raising, and continued use of index-linked employment indicates that Icon Energy Corp. is seeking to combine commercial flexibility with disciplined fleet development. In that setting, the new charter for ultramax bulk carrier MV Charlie represents more than another fixture. It adds further support to the broader strategy of Icon Energy Corp. to keep its fleet fully employed, maintain exposure to stronger freight conditions, and gradually improve its standing in the listed dry bulk shipping market through fleet renewal, earnings visibility, and carefully controlled growth. 2-April-2026
Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., under the leadership of Ismini Panagiotidi, is aiming to benefit from expansion opportunities emerging out of the disruption in the Middle East, as firmer freight conditions strengthen its short-term earnings outlook and support its ambitions for further growth in the bulk carrier sector. Greek shipowner and operator Icon Energy Corp. said market attention has been concentrated on the intensifying confrontation between the US and Iran, together with developments linked to the Strait of Hormuz, with the group indicating that this instability is helping create a more supportive freight backdrop in Q1 2026. Icon Energy Corp., which operates a fleet of three midsize bulk carriers, has highlighted a far stronger first-quarter performance, with projected Q1 2026 revenue net of voyage expenses expected to reach between $3.5 million and $3.7 million, compared with $1.5 million in the same period of 2025, while average gross hire is forecast to climb to about $14,000 per day from about $8,600 per day one year earlier. Icon Energy Corp.’s current fleet is made up of panamax bulk carrier Alfa, kamsarmax bulk carrier Bravo, and ultramax bulk carrier Charlie, giving Icon Energy Corp. exposure to several key dry bulk segments while maintaining a lean and adaptable operating structure. The arrival of ultramax bulk carrier Charlie in 2025 represented an important milestone in that progress, as Icon Energy Corp. entered into a bareboat charter-in arrangement that included an option to purchase the 2020-built scrubber-fitted eco ultramax bulk carrier and simultaneously secured employment for the ship under a time charter-out agreement. That fleet composition helps clarify why Icon Energy Corp. is now positioning itself as a shipowner and operator ready to pursue additional growth if freight market conditions continue to improve. More broadly, Icon Energy Corp. defines itself as an international shipping business engaged in worldwide seaborne transportation of dry bulk cargoes through its fleet of oceangoing bulk carriers, while keeping its principal executive office in Athens, Greece and maintaining its listing on the Nasdaq Capital Market under the symbol ICON. That wider profile gives additional importance to its latest comments on expansion, because Icon Energy Corp. is not speaking simply as a market commentator, but as a listed dry bulk shipowner and operator with direct freight exposure and an established willingness to expand through additional tonnage. At the same time, strategic control within Icon Energy Corp. remains firmly concentrated under Ismini Panagiotidi, reinforcing the impression that the group is carefully preparing for its next phase of development in what it sees as a more constructive freight market environment. 24-March-2026
Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., led by Ismini Panagiotidi, has outlined an “evergreen” charter extension for panamax bulk carrier 77,000-DWT MV Alfa as freight markets strengthen, while also unveiling a stock repurchase program as Icon Energy Corp. seeks to pair improving cash generation with shareholder-return flexibility. Icon Energy Corp. said MV Alfa has extended its time charter with an unnamed international commodity trading conglomerate on an indefinite basis, structured to expire on three months’ notice by either party but not earlier than July 2026, with earnings continuing to float in line with the Baltic Panamax Index—an arrangement that keeps Icon Energy Corp. exposed to market upside while preserving a defined notice framework for forward planning. Icon Energy Corp. also emphasized that Icon Energy Corp. now has all three bulk carriers fixed on index-linked charter deals, with fleet employment described as panamax bulk carrier MV Alfa on an index-linked time charter with “Evergreen” as the latest charter profile, kamsarmax bulk carrier MV Bravo on an index-linked time charter with the earliest charter window referenced as March 2026 and “Evergreen” as the latest profile, and ultramax bulk carrier MV Charlie employed on an index-linked time charter with the earliest window referenced as March 2026 and the latest window referenced as July 2026. Icon Energy Corp. added that, so far in the fourth quarter of 2025, Icon Energy Corp. ships have been earning an average gross hire rate of approximately $15,750 per ship per day, with Icon Energy Corp. citing healthy supply-demand fundamentals and expressing optimism that the uptrend can extend into 2026 and support continued pursuit of accretive growth opportunities. In parallel, Icon Energy Corp. announced that the Icon Energy Corp. Board of Directors authorized a share repurchase program of up to an aggregate $1.0 million of outstanding common shares through December 31, 2026, with repurchases potentially executed via open-market transactions, privately negotiated transactions, or other methods (including trading plans intended to qualify under Rule 10b-18 and/or Rule 10b5-1), while noting that Icon Energy Corp. retains full discretion on timing and size and that the program can be suspended or discontinued. The update sits within Icon Energy Corp.’s broader positioning as an international shipping platform providing seaborne transportation for dry bulk cargoes via a fleet of oceangoing ships, headquartered in Athens, Greece, with common shares trading on the Nasdaq Capital Market under the symbol “ICON,” and with Icon Energy Corp. stating a strategy built around disciplined and opportunistic ship acquisitions, high utilization, and the flexibility to capture shipping volatility for shareholders. Icon Energy Corp. has also highlighted the operating breadth of the cargoes carried by Icon Energy Corp. ships—covering categories such as grains, minerals, iron ore, coal, and bauxite—which aligns with the index-linked charter approach by keeping Icon Energy Corp. commercially positioned across core dry bulk trade flows. Leadership-wise, Icon Energy Corp. Chairwoman and Chief Executive Officer Ismini Panagiotidi has been described by Icon Energy Corp. as serving in that role since Icon Energy Corp.’s inception in August 2023, with prior experience spanning ship investing and management, founding Pavimar in 2014, and holding roles connected to listed shipping platforms, while Icon Energy Corp. Chief Financial Officer Dennis Psachos is described as bringing extensive shipping finance, audit, and accounting experience, including work across major shipping finance centers and involvement in financings, restructurings, and corporate transactions. Operationally, Icon Energy Corp.’s fleet build-out has included steps such as the June 2025 delivery of 2020-built, scrubber-fitted, eco ultramax bulk carrier MV Charlie under a bareboat charter-in arrangement, followed by a time charter-out linked to the Baltic Supramax Index and an additional revenue share tied to fuel cost savings from the scrubber system—an approach consistent with Icon Energy Corp.’s emphasis on capital-efficient expansion and earnings structures that participate in market moves. 25-December-2025
The Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., under the direction of Ismini Panagiotidi, is strengthening its financial capacity for upcoming acquisitions by tapping fresh equity through a stock-purchase arrangement with a US investment group. Greek bulker owner Icon Energy Corp. has already issued and sold 132,000 shares to a US-based investment entity as part of its ongoing effort to raise capital. Greek bulker owner Icon Energy Corp. is actively increasing its funding base to support a broader fleet-expansion strategy through a structured share-sale programme with US investor Yorkville Advisors. The Nasdaq-listed shipowner and operator Icon Energy Corp., controlled by Ismini Panagiotidi, has to date sold 132,144 shares under a Standby Equity Purchase Agreement (SEPA), achieving an average sale price of $1.86 per share. Ismini Panagiotidi is the sister of Castor Maritime Inc. (CTRM) Chief Executive Officer Petros Panagiotidis. Icon Energy Corp. itself has been undergoing a decisive transformation, repositioning from a smaller, niche Greek shipping platform into a more visible participant in the US capital markets. Listed on Nasdaq, Icon Energy Corp. has been leveraging public-market access to build a stronger capital structure, diversify its funding sources and pursue new ship acquisitions. The strategy of Icon Energy Corp. has increasingly centred on acquiring modern tonnage, expanding commercial partnerships and establishing a more stable long-term growth trajectory. With roots in the broader Panagiotidis family shipping network, Icon Energy Corp. has sought to differentiate its identity in the market by focusing on corporate transparency, capital-market discipline and active engagement with US institutional investors. The Standby Equity Purchase Agreement with Yorkville Advisors provides Icon Energy Corp. with flexible, on-demand financing—allowing the shipowner and operator to issue shares gradually, depending on market conditions, without relying on traditional bank debt. This mechanism gives Icon Energy Corp. the ability to time its purchases more strategically, particularly in the dynamic bulker S&P (Sale and Purchase) market, where opportunities can emerge rapidly. Icon Energy Corp. has also been gradually building a platform capable of supporting future fleet growth, including modernising internal governance structures, improving reporting requirements and maintaining closer alignment with US regulatory standards. The leadership of Ismini Panagiotidi has placed emphasis on expanding operational scale, reducing financial constraints, and positioning Icon Energy Corp. to take advantage of market cycles—especially when asset values present attractive entry points. As Icon Energy Corp. continues to issue shares through the SEPA framework, the proceeds are expected to support additional ship acquisitions, enhance working capital, and provide the liquidity needed to pursue a more ambitious commercial footprint. Under Ismini Panagiotidi, Icon Energy Corp. is aiming to strengthen its presence in global dry bulk shipping while maintaining a flexible financial strategy anchored in public-market access. 25-November-2025
Limassol-based and Nasdaq Stock Exchange-listed shipowner and operator Castor Maritime Inc. (CTRM) has sold two of its panamax bulk carriers in another family-related transaction to Athens-based shipowner and operator Pavimar SA. Castor Maritime Inc. (CTRM) is selling the 2011-built panamax bulk carrier MV Magic Eclipse and the 2012-built panamax bulk carrier MV Magic Callisto to Pavimar SA, which is beneficially owned by Ismini Panagiotidis, the sister of Castor Maritime Inc. (CTRM) CEO Petros Panagiotidis. The $28 million transaction will result in the panamax bulk carriers transferring ownership during the first half of this year. Limassol-based shipowner and operator Castor Maritime Inc. (CTRM) currently owns a fleet of 12 ships, including one containership and the two panamax bulk carriers that have been agreed for sale. Ismini Panagiotidis, sister of Petros Panagiotidis, controls the shipowning company Pavimar SA, which operates a fleet of 13 bulk carriers. Headquartered in Athens, Pavimar SA is a privately held shipping company active primarily in the dry bulk sector. The fleet under Pavimar SA includes panamax, kamsarmax, and supramax bulk carriers, trading worldwide and employed in both spot and period charters. The company has built a reputation for maintaining a modern and efficient fleet with a strong focus on operational performance, safety, and environmental compliance. Pavimar SA and Castor Maritime Inc. (CTRM) have conducted several transactions over the past few years, including the sale of four panamax bulk carriers to Pavimar SA in 2024. These ongoing transactions reflect the close operational and strategic ties between the two entities, often leading to synergy in asset management and deployment strategies across their respective fleets. 26-March-2025
The Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., under the leadership of Ismini Panagiotidi, is enhancing its fleet with the addition of a 2020-built ultramax bulk carrier, the 63K DWT MV Charlie, through a bareboat charter arrangement. The Greek shipowner and operator Icon Energy Corp. announced that the ultramax bulk carrier MV Charlie is expected to join its fleet in the third quarter of 2025. The agreement for the ultramax bulk carrier MV Charlie includes an advance payment of $2.75 million, a matching payment upon delivery, a daily charter rate of $7,500 over a three-year period, and a purchase option at the conclusion of the bareboat charter valued at $18 million. Icon Energy Corp. has already arranged employment for the ultramax bulk carrier MV Charlie upon its delivery, securing a charter of up to one year at a floating daily hire rate that is tied to the Baltic Supramax Index (BSI), in addition to earnings derived from scrubber benefits. The Athens-based Icon Energy Corp., which was founded in August 2023, currently manages one panamax bulk carrier built in Japan in 2006 and one kamsarmax bulk carrier built in Japan in 2007. The shipowner and operator focuses on the acquisition, operation, and chartering of dry bulk ships, with a long-term strategy centered on modernizing and expanding its fleet with fuel-efficient, environmentally compliant tonnage. Icon Energy Corp. targets vessels that offer strong operational flexibility across multiple cargo types, including coal, grain, bauxite, and fertilizers. Led by Chief Executive Officer Ismini Panagiotidi, Icon Energy Corp. is part of a new generation of Greek shipping ventures that aim to combine traditional maritime expertise with a forward-looking approach to sustainability, market adaptability, and technological integration. The company leverages strong relationships with international financial institutions and charterers to secure competitive chartering terms and attractive financing structures for its fleet expansion efforts. 26-March-2025
Nasdaq-listed and Athens-based shipowner and operator Icon Energy Corp., led by Ismini Panagiotidi, has recently bolstered its financial base for prospective acquisitions of bulk carriers by taking delivery of its inaugural kamsarmax bulk carrier since its Initial Public Offering (IPO) in early 2024. Icon Energy Corp. has secured around $75 million for potential fleet expansions through a $91.5 million loan agreement with one of the top international lenders. In early September 2024, Icon Energy Corp. had accessed $16.5 million from this loan to partially fund the purchase of the newly delivered kamsarmax bulk carrier MV Bravo, as well as to enhance its existing panamax bulk carrier fleet. This loan segment has a tenure of four years, with an interest rate of 3.95% over SOFR. The unutilized balance of $75 million remains uncommitted, bearing no interest or other charges, with no obligation for Icon Energy Corp. to draw upon it. Established in August 2023, Icon Energy Corp. initially brought into its fleet the 2006 Japanese-built panamax bulk carrier 77K DWT MV Alfa from Pavimar SA through a share exchange deal, prior to the acquisition of the kamsarmax bulk carrier in August 2024. The kamsarmax bulk carrier MV Bravo has already secured a charter contract with a prominent commodity trading conglomerate for a period between 11 and 14 months. Icon Energy Corp. is strategically focused on disciplined and opportunistic bulk carrier acquisitions, and it is thrilled to receive continued support from charterers and trust from financial institutions. This support not only facilitates the management of its existing fleet but also offers scalability options for further growth. Icon Energy Corp. is renowned for its innovative approach in the maritime industry, incorporating the latest technologies for sustainable shipping practices. The company actively participates in global maritime conferences to stay at the forefront of industry trends and environmental regulations. With a clear commitment to reducing its carbon footprint, Icon Energy Corp. is investing in eco-friendly vessels and retrofitting existing ships to meet stricter emissions standards. The company’s proactive stance on corporate social responsibility and its strategic geographical positioning in Athens, a pivotal maritime hub, place it in a strong position to capitalize on the growing demand for environmentally conscious shipping solutions. Icon Energy Corp.’s dedication to enhancing its operational efficiency and environmental compliance underscores its ambition to be a leader in the global shipping industry. 26-September-2024
Nasdaq-listed, Athens-based shipowner and operator Icon Energy has expanded its fleet with the acquisition of a 2007 Japanese-built kamsarmax bulk carrier for approximately $17.5 million. This purchase marks Icon Energy’s first significant move since its $5 million IPO in July 2024, demonstrating a strong entry into the maritime market. Established in August 2023, Icon Energy has swiftly moved to increase its operational capacity, beginning with the acquisition of the 2006 Japanese-built 77K DWT panamax bulk carrier MV Alfa from Pavimar SA in exchange for shares. Pavimar, a prominent Athens-based shipowning and operating company, is controlled by Ismini Panagiotidis, who also leads Icon Energy. The newly acquired kamsarmax bulk carrier was bought from an unaffiliated third party, utilizing cash on hand and borrowings for financing. This strategic acquisition aims to double the fleet’s size, aligning with Icon Energy’s growth strategy to enhance shareholder value and solidify its market position. Pavimar SA not only played a role in the initial fleet formation but also oversees the commercial and technical management of Icon Energy’s fleet, ensuring operational efficiency and alignment with industry standards. Ismini Panayotides, the CEO of Icon Energy and sister of Petros Panagiotidis of Castor Maritime Inc. (CTRM), based in Limassol, is at the forefront of steering the company towards its strategic objectives. 12-August-2024
Ismini Panagiotidis is targeting a Nasdaq initial public offering (IPO) to secure funding for her newly established bulker venture, Icon Energy. Launched in August 2023, Icon Energy has filed for the listing of its common shares on Nasdaq, aiming to raise between $4.6 million and $5.5 million through the offering of 1.25 million shares, plus additional shares. The net proceeds from the IPO are designated for general corporate uses, as stated by Icon Energy. In its initiation phase, Icon Energy will acquire the 2006 Japanese-built panamax bulk carrier, 77K DWT MV Alfa, from Pavimar, a shipowning and operating company controlled by Ismini Panagiotidis based in Athens. The acquisition will be in exchange for shares. Currently, MV Alfa is engaged in a time charter with a commodity trading conglomerate that is set to expire in the fourth quarter of 2025. As outlined in Icon Energy’s IPO prospectus filed with Nasdaq, the company plans to expand, renew, and grow its fleet through the sale and purchase market. Additionally, Icon Energy is considering diversification into other maritime sectors or potentially ordering newbuild vessels. Pavimar, under Ismini Panagiotidis’ control, will manage the commercial and technical operations of Icon Energy’s fleet. This strategic move places Ismini Panagiotidis in line with her brother, Petros, who manages two Nasdaq-listed companies: Castor Maritime (CTRM) and its spin-off entity focusing on tanker and LPG operations, Toro. 15-May-2024
The company Castor Maritime, headquartered in Cyprus and engaged in operating bulk carriers and container ships, has finalized a deal to sell a bulk carrier for an estimated sum of $16 million. The vessel in question is the MV Magic Nebula, a kamsarmax bulk carrier constructed in 2010, now sold to an organization under the beneficial ownership of a relative of Castor Maritime’s executive trio: Chairman, CEO, and CFO Petros Panagiotidis. Within the current year, Castor Maritime has also divested other ships to Panagiotidis family entities, namely the panamax bulk carriers MV Magic Nova and MV Magic Horizon, which were let go for approximate amounts of $16 million and $15.5 million, respectively. These sales reflect a profitable turnover from their purchase prices in 2020, which were around $13.5 million for MV Magic Nova and $12.5 million for MV Magic Horizon. The ships MV Magic Horizon and MV Magic Nebula have been incorporated into the fleet of Pavimar, a shipping management company helmed by Ismini Panayotides, the sister of Petros Panagiotidis. Pavimar’s portfolio boasts a fleet that has now grown to encompass 20 bulk carriers, following the recent acquisition of another kamsarmax bulk carrier from Castor Maritime, the MV Magic Venus. This addition underscores a continuing pattern of transactions between Castor Maritime and Pavimar, including the purchase of two container ships by Castor Maritime in the closing months of 2022 from Pavimar SA. Pavimar SA, steered by Ismini Panayotides, has established itself as a significant player in the maritime industry, with a focus on the dry bulk sector. Under her leadership, Pavimar SA has demonstrated a strategic acumen in fleet expansion and operational efficiency, capitalizing on the extensive maritime knowledge and industry networks within the Panagiotidis family. The company’s acquisition strategy, marked by the recent addition of MV Magic Nebula to its fleet, reflects its commitment to growth and its ability to navigate the complex global shipping markets. The sale agreement for MV Magic Nebula was meticulously negotiated and received the green light from a dedicated committee of independent and impartial directors at Castor Maritime. The transaction is slated for completion in the second quarter of 2024, with MV Magic Nebula’s transition to Pavimar SA. Castor Maritime anticipates this deal will result in a net profit of about $2.5 million during the same period, a figure that does not take into account any expenses related to the transaction. 23-February-2024
The Limassol-based shipping company, Castor Maritime Inc. (CTRM), led by Chairman and CEO Petros Panagiotidis, has successfully arranged the sale of two of its panamax bulk carriers to parties related to his family. The transactions involve the MV Magic Nova and the MV Magic Horizon, panamax bulk carriers with deadweight tonnages of 78,000 and 76,000, respectively. The MV Magic Nova is being sold for $16.1 million, and the MV Magic Horizon for $15.8 million. These vessels were originally acquired by Castor Maritime in 2020 for $13.86 million and $12.75 million, signifying a profitable investment with an expected combined profit of approximately $9 million from these sales by the end of Q1 2024. The buyer includes Pavimar, the ship management company overseen by Panagiotidis’ sister, Ismini Panayotides, which operates a fleet of 10 bulk carriers. This transaction follows a prior deal between Castor Maritime and Pavimar involving two containerships, valued at $50.75 million, which facilitated Castor Maritime’s foray into the container shipping industry. Furthermore, this year saw the sale of the 2010-built kamsarmax bulk carrier Magic Venus to a member of the Panagiotidis family, a vessel that was acquired from Pavimar in January 2021 for $15.85 million. Despite these divestments, Castor Maritime maintains a versatile fleet, inclusive of a 2005-built container ship with a 2,700 TEU capacity and 14 bulk carriers, with plans to offload four more. This strategic maneuvering highlights Castor Maritime’s proactive and strategic fleet management practices, aiming to optimize its investment and operational portfolio in the shipping industry. 31-January-2024
Based in Limassol, Castor Maritime Inc. (CTRM) has adeptly completed the sale of another senior vessel, turning a profit in a notably brief timeframe. The company, listed on Nasdaq, has parted with its panamax bulk carrier, MV Magic Moon, built in 2005, handing it over to a third party with no prior connection. Acquired from Pavimar SA in 2019 for an estimated $10 million, the 76,600 dwt MV Magic Moon fetched a sale price of $13.9 million. Furthermore, just last month, Castor Maritime Inc. (CTRM) facilitated the sale of another vessel, the panamax bulk carrier MV Magic Rainbow, constructed in 2007, for approximately $12.6 million. This sale resulted in a net profit of $4.4 million. Looking ahead to the third quarter of 2023, the company is projecting a net gain of $5.3 million from the MV Magic Moon transaction. Following these strategic divestitures, the operational fleet of Castor Maritime Inc. (CTRM) will encompass 18 bulk carriers and a duo of containerships, each with a capacity of 2,700 TEU. 1-April-2023.
Castor Maritime, a company listed on Nasdaq and engaged in shipowning and operations, has finalized the acquisition of a capesize bulk carrier built in 2006, the MV Ocean Compass, for an estimated $17.5 million from the Japanese shipowner Imabari Senpaku. This purchase, initially reported to be by Pavimar SA—overseen by Ismini Panagiotidi, the sister to Castor Maritime’s CEO, Petros Panagiotidis—signifies growth for Castor Maritime. The delivery of the MV Ocean Compass is anticipated by the end of Q2 2021. Prior to delivery, the ship will be subjected to drydocking and a special survey (SS), which will include the installation of a ballast water treatment system (BWTS), explaining the transaction’s value. Petros Panagiotidis, the CEO of the Limassol-based Castor Maritime, shared his excitement about this acquisition, emphasizing the effective use of the company’s newly acquired capital to purchase their seventh ship. He pointed out that the current market dynamics are conducive to scaling up to larger dry bulk vessel categories, with the aim of improving the company’s standing in the market and ensuring sustained profitability for its shareholders. Previously, Castor Maritime exclusively owned panamax bulk carriers, but since its initial public offering on Nasdaq in 2019 with just one bulk carrier, it has expanded its fleet to include six panamax bulk carriers. 18-January-2021
Located in Limassol, Castor Maritime (CTRM), a company engaged in ship ownership and operations, has successfully secured an $11 million term loan facility with Alpha Bank, which it anticipates drawing down by the end of this year. Castor Maritime (CTRM) plans to use these funds to clear a $7.5 million loan from shareholders and allocate the remaining amount for its strategic growth ambitions. Petros Panagiotidis, CEO of Castor Maritime (CTRM), expressed enthusiasm about acquiring the company’s first secured term loan with Alpha Bank, highlighting the bank’s top-tier status and the competitive terms of the loan. He emphasized the importance of this new banking relationship as pivotal to the company’s strategy for using its financial assets to drive growth. Since its foundation in September 2017 and its subsequent listing on the Nasdaq Capital Market at the beginning of this year with just one ship, Castor Maritime has expanded its holdings to include three panamax bulk carriers. This expansion includes acquisitions from Diana Shipping and Pavimar SA, the latter being directed by Ismini Panagiotidi, Petros Panagiotidis’ sister. 24-November-2019
Pavimar SA has completed the sale of the 12-year-old supramax bulk carrier, MV Mary. The Greek shipping company Pavimar SA offloaded the 2007-constructed supramax bulk carrier, MV Mary, as part of its strategy to modernize and enlarge its fleet. Under the leadership of Ismini Panayiotides, Pavimar SA orchestrated the sale of the 52,000-dwt, Japanese-made MV Mary Lina (originally built in 2007) to a Vietnamese purchaser for $10.3 million. Pavimar SA acquired the vessel, previously known as Stella Maris and crafted by Tsuneishi Shipbuilding, from Kambara Kisen for $9.6 million in March 2017. Additionally, last month witnessed Pavimar SA divesting itself of the 76,000-dwt panamax bulk carrier MV Magic Moon (formerly MV Double Happiness), built in 2005, to the closely affiliated Greek company Castor Maritime, marking two years since its acquisition. In a similar move in October, Pavimar SA disposed of the 53,000-dwt supramax bulk carrier MV Ribbon, constructed in 2005, to Hai Nam of Vietnam for $9 million. Currently, the Athens-based Pavimar SA is recorded as having a fleet of 13 bulk carriers, averaging nine years of age. 10-November-2019
Castor Maritime has acquired a panamax bulk carrier from Pavimar SA, led by Ismini Panayiotides, as part of its fleet expansion strategy. A 14-year-old panamax bulk carrier has been transferred to the closely associated Greek shipping company Castor Maritime, two years after Pavimar SA originally purchased the vessel. The 76,000-dwt panamax, MV Magic Moon (formerly MV Double Happiness), constructed by Imabari in 2005, was sold for $10.2 million, slightly above the price Pavimar SA paid to a Japanese seller in April 2017. The MV Magic Moon is scheduled for a special survey in August of the following year. Previously, Pavimar SA completed the sale of the 53,000-dwt, 2005-built supramax bulk carrier MV Ribbon to an unnamed buyer for approximately $9 million. This supramax, now recognized as MV Hai Nam 81, has been confirmed sold to Hai Nam of Vietnam. Pavimar SA’s current fleet includes three supramax bulk carriers, nine panamax bulk carriers, and one capesize bulk carrier, with an average age of nine years. This year, Pavimar SA expanded its fleet by purchasing the 78,000-dwt panamax bulk carrier MV Lake Dahlia (built in 2009) from a Japanese entity for $13.8 million in May. On the other hand, Castor Maritime, listed on Nasdaq and headquartered in Limassol, Cyprus, under the leadership of Petros Panagiotidis, has a specialized fleet of three panamax bulk carriers, with MV Magic Moon now being the latest addition. In July, Castor Maritime Inc. (CTRM) announced the purchase of the 75,000-dwt MV Magic Sun (previously MV Nirefs), built in 2001, from Diana Shipping. Although the acquisition price was roughly $10.25 million, the seller’s details were not fully disclosed, other than noting the seller was a company with ties to a family member of CEO Petros Panagiotidis. In a statement, Panagiotidis emphasized Castor Maritime’s continuous ambition to grow its fleet strategically, aiming to enhance both earnings and cash flows. 22-October-2019
Under the leadership of Petros Panagiotidis, Castor Maritime (CTRM), a company engaged in ship ownership and operations, has successfully negotiated the purchase of a panamax bulk carrier built in Japan in 2005 for a sum of $10.2 million. The identity of the vessel and the seller has not been publicly disclosed, but Castor Maritime (CTRM) has mentioned that the transaction involves a third-party entity with ties to Petros Panagiotidis. There is speculation that the vessel is the MV Real Happiness, a panamax bulk carrier built by Imabari and currently under the ownership of Pavimar SA, which is led by Ismini Panagiotidi, Petros Panagiotidis’ sister. VesselsValue estimates the value of the MV Real Happiness at $10.28 million. Petros Panagiotidis, holding the positions of chairman, CEO, and CFO at Castor Maritime (CTRM), shared his enthusiasm about acquiring what is now the company’s third dry bulk carrier, and the second purchase since its NASDAQ debut in the first quarter of 2019. He reiterated the firm’s dedication to aggressive expansion, with a focus on acquiring assets that will positively impact the company’s profitability and cash flow. The acquisition of the MV Real Happiness is expected to be finalized by the end of the current month. 17-October-2019
Athens based shipowner and operator Pavimar SA is selling the oldest supramax bulk carrier in fleet renewal move. Pavimar SA is selling 2005 built supramax dry bulk carrier 53K DWT MV Ribbon for about $9 million. Deal has not yet been concluded. Ismini Panayiotidies led Pavimar will lower the age profile of its fleet. Imabari Shipbuilding constructed MV Ribbon is due for a special survey in 2020. In May 2019, Pavimar SA acquired 2009 built panamax bulk carrier 78K DWT MV May (ex MV Lake Dahlia) from Triton Navigation for $13.8 million. Ismini Panayiotidies established Pavimar in 2014. MV Ribbon was earlier in the fleet of Maryville Maritime which is controlled by Ismini Panayiotidies’ father Villy Panayotides. Pavimar SA has a fleet of four (4) supramax, ten (10) panamax, one (1) capesize bulk carriers. 9-October-2019
The Greek dry bulk company Pavimar SA has completed the purchase of two Sanoyas-built panamax bulk carriers from Triton Navigation, a Netherlands-based company with ties to Japan’s Sumitomo Corp. The Athens-based Pavimar SA invested a total of $27.6 million for the 2009-constructed panamax bulk carriers, MV Lake Dahlia and MV Triton Gannet. This acquisition price surpasses the fair market value estimated at $26.51 million for the duo, but it’s noteworthy that both MV Lake Dahlia and MV Triton Gannet have recently undergone Special Surveys (SS). Established by Ismini Panagiotidi in 2014, Pavimar SA’s fleet now comprises 14 bulk carriers. 15-May-2019
Greek shipowner and operator Pavimar SA increased the fleet to 15 ships after the latest panamax purchase. Ismini Panayotides led Pavimar SA has acquired 2012 Japanese built 74K DWT MV Scorpio (ex MV Eisho) in December 2019 for around $18.5 million from Japanese shipowners Doun Kisen. Greek shipowner and operator Pavimar SA’s two-thirds of its fleet were built in Japan. Greek Ismini Panayotides established Pavimar SA in 2014 with two supramax dry bulk carriers. Currently, Pavimar SA has a fleet of 15 ships in fleet: 6 panamax, 4 kamsarmax, 4 supramax and 1 capesize dry bulk carriers. Pavimar SA’s 2004 built panamax dry bulk carrier 76K DWT MV Magic P belongs to Castor Maritime which is headed by Ismini Panayotides’ brother Petros Panayotides. 31-March-2019
Pavimar SA has finalized its inaugural bulk carrier acquisition for the year. Led by Ismini Panayiotides, Pavimar SA secured the 78,000-dwt panamax bulk carrier MV Lake Dahlia, built in 2009 and under Japanese control, for an estimated $13.5 million. This addition expands its managed fleet to 16 bulk carriers. The vessel, crafted by Sanoyas Shipbuilding, recently underwent a special survey, justifying what is perceived as a robust purchasing price. Furthermore, Pavimar SA also acquired the sister ship, the panamax bulk carrier MV Triton Gannet, constructed in 2009. With a preference for Japanese-built vessels, two-thirds of Pavimar SA’s fleet originates from Japan. This marks Pavimar SA’s first acquisition since October, during which it purchased the 74,000-dwt MV Scorpio (formerly MV Eisho), built in 2012, for an approximate $18.5 million. The fleet of Pavimar SA includes seven panamax bulk carriers, four kamsarmax bulk carriers, four supramax bulk carriers, and one capesize bulker. Notably, one of Pavimar SA’s panamax bulk carriers, the 76,000-dwt MV Magic P (built in 2004), is part of the Castor Maritime fleet, led by Ismini Panayiotides’s brother, Petros Panayiotides. Ismini Panayiotides founded Pavimar SA in the summer of 2014, starting with just two supramax bulk carriers, and is a descendant of the esteemed Greek shipowner Gabriel “Villy” Panayiotides, alongside her brother Petros Panayiotides. 21-March-2019
Based in Limassol, the shipowning and operating firm Castor Maritime (CTRM) has been authorized for its common shares to be listed on the Nasdaq Capital Market. Trading under the ticker symbol CTRM will commence on Monday, alongside its current listing on the Norwegian OTC market with the symbol CASTOR, established last month. Founded by chairman and CEO Petros Panagiotidis in September 2017, Castor Maritime presently operates with a single asset in its fleet, the 2004-built panamax bulk carrier MV Magic P. Managed by Pavimar SA, a dry bulk shipowning company under the leadership of Ismini Panayotides, Petros Panagiotidis’ sister, Castor Maritime (CTRM) has articulated in a presentation its strategy to augment its fleet through the procurement of additional bulk carriers. These vessels are intended for deployment under a strategic blend of time and spot charters, aiming for growth and diversification. 5-February-2019
Greek ship-manager and operator Pavimar SA acquired second kamsarmax dry bulk carrier from its bankrupt compatriot owner Toisa Shipping. After these acquisitions Ismini Panayiotides-led Pavimar SA increased fleet to 14 ships. Greek ship-manager and operator Pavimar SA acquired 2016 built kamsarmax dry bulk carrier 82K DWT MV Trade Prosperity. MV Trade Prosperity is one of the dry bulk carriers sold by Clarksons as part of Toisa Shipping’s US bankruptcy. Bankrupted Greek shipowner and operator Toisa Shipping had a fleet of 26 tankers and 6 dry bulk carriers. In June 2018, Greek ship manager and operator Pavimar SA acquired 2012 built 81K DWT MV Trade Will around $15.5 million. In February 2018, Toisa Shipping owner Gregory Callimanopulos filed for Chapter 11 bankruptcy protection in United States over a debt exceeding $1billion. Citibank was one of his several creditors of bankrupted shipowner Toisa Shipping. Toisa Shipping’s 13 tankers and 76 dry bulk carriers would be yielding estimated proceeds of $385 million. 27-July-2018
Just weeks after being identified as the acquirer of one of the six kamsarmax bulk carriers from the bank-led fleet sale of Toisa Shipping, Pavimar SA has completed another transaction, marking its second successful asset flip within the last six months. This time, Pavimar SA sold the Imabari-built 76,600 dwt panamax bulk carrier MV Toro for approximately $15.5 million. The Athens-based shipping company, Pavimar SA, originally purchased the MV Toro for under $8.5 million in September 2016. Earlier this year, Pavimar SA sold another vessel constructed by Imabari, the 51,000 dwt supramax bulk carrier MV Queen P, to its Greek counterpart Aims Shipping for about $12.5 million, after acquiring it for $10 million in March of the previous year. Pavimar SA has demonstrated significant growth as a shipowner in recent years, with the purchase of eight bulk carriers since February 2017. 15-July-2018
The shipowning entity led by Ismini Panagiotidi, Pavimar SA, is expanding its maritime assets with the acquisition of its twelfth bulk carrier. This Athens-based maritime firm is identified as the purchaser of the kamsarmax bulk carrier MV Trade Will, built in 2012, which is being acquired for approximately $16 million. This deal includes a six-month time charter at a daily rate of $7.5k. MV Trade Will is part of a fleet of 26 vessels put on the market by Clarksons after the bankruptcy of Gregory Callimanopulos’ Toisa Shipping the previous year. The collection for sale encompasses seven Chinese-constructed kamsarmax bulk carriers, five suezmax tankers, and eight additional tankers of varied sizes. Since its inception in 2014, Pavimar SA has emerged as one of the most proactive entities in purchasing secondhand panamax and capesize vessels over the past four years. 25-June-2018
Greek shipowner and operator Pavimar SA sold 2009 Japanese built supramax dry bulk carrier 51K DWT MV Queen P for about $12 million. In 2017, Ismini Panayiotides-led Pavimar bought MV Queen P (ex MV Chavin Queen) for about $10 million. Greek shipowner and operator Pavimar SA’s fleet is left with 2011 built capesize dry bulk carrier 181K DWT MV Mairaki. 28-February-2018
The Greek maritime firm Aims Shipping has been identified as the purchaser of the 2009-constructed supramax bulk carrier MV Seven Lady (formerly known as MV Queen P) from Pavimar SA. This transaction, involving the Imabari-manufactured vessel MV Seven Lady, was finalized late last year for an approximate amount of $12.5 million. The Athens-based Aims Shipping, now the new owner, has already taken delivery of the MV Queen P, which has been rechristened as MV Seven Lady. This transaction resulted in a substantial profit for Pavimar SA, totaling around $2.4 million within just seven months of its initial purchase. Pavimar SA acquired the vessel, previously called MV Chavin Queen, from Japan’s NS United Kaiun Kaisha for about $10 million in May 2017. Founded in 2011 by former EastMed executives Stefanos Pesmazoglou and Michael Stasinopoulos, Aims Shipping’s current fleet includes seven vessels, comprising two feeder containerships and five bulk carriers. 22-January-2018