Thenamaris Ships Management

Nikolas Martinos-led Thenamaris Ships Management, a distinguished Greek shipowner and operator with a significant footprint in the international shipping industry, is making strategic moves in the robust capesize bulk carrier market. The company, known for its dynamic and prudent asset management strategies, is reportedly in the process of concluding a profitable transaction involving the sale of a mid-aged bulk carrier, a vessel that has been part of its fleet for nearly a decade. This sale highlights Thenamaris Ships Management’s ability to adeptly navigate market fluctuations and capitalize on opportune moments to realize gains. Demonstrating a keen understanding of the maritime asset market, Thenamaris Ships Management operates with a dual strategy of asset acquisition and disposal to ensure profitability and fleet rejuvenation. This approach was vividly illustrated when, shortly after investing almost $270 million in acquiring four state-of-the-art newcastlemax bulk carriers, the company decided to sell one of its oldest capesize bulk carriers. Such strategic portfolio management underscores Thenamaris Ships Management’s commitment to maintaining a modern and efficient fleet, reflective of its status as a forward-thinking player in the shipping sector. With headquarters in Athens and a fleet comprising around 100 ships, Thenamaris Ships Management stands as a colossal entity in the maritime world. The company’s latest deal involves selling the South Korean-built, 180K DWT capesize bulk carrier MV Sealink, which was built in 2010. The reported sale price of $31 million not only signifies a successful financial move but also positions Thenamaris Ships Management as a savvy market participant adept at leveraging the current high demand in the capesize bulk carrier market. Under the leadership of Nikolas Martinos, Thenamaris Ships Management has cultivated a reputation for excellence, innovation, and strategic foresight in the global shipping industry. The company’s operations span across various vessel categories, including tankers, bulk carriers, and container ships, showcasing its diverse capabilities and strategic market positioning. This recent transaction reaffirms Thenamaris Ships Management’s dedication to optimizing its fleet through timely and profitable sales and purchases, ensuring the company remains at the forefront of industry trends and continues to deliver exceptional value to its stakeholders. 27-February-2024

 

Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management ordered four (4) firm ultramax bulk carrier newbuildings at Hyundai Vietnam Shipbuilding which is the sister shipyard of Hyundai Mipo Dockyard (HMD). Athens-based shipowner and operator Thenamaris Ships Management is spending around $36 million each for the 63K DWT ultramax bulk carrier newbuildings. Greek shipowner and operator Thenamaris Ships Management ordered four (4) ultramax bulk carrier newbuildings according to the IMO’s (International Maritime Organization’s) Tier III NOx standards. Thenamaris Ships Management will take delivery of four (4) ultramax bulk carriers between Q2 2024 and Q1 2025. Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management is paying a higher price for four (4) ultramax bulk carrier newbuildings due to the early delivery dates the Hyundai Mipo Dockyard (HMD) offered. Furthermore, Athens-based shipowner and operator Thenamaris Ships Management knows that Hyundai Vietnam Shipbuilding delivers sound quality vessels. Also, Greek shipowner and operator Thenamaris Ships Management has two (2) 82K DWT bulk carrier newbuildings booked at Nantong Cosco KHI Ship Engineering. Thenamaris Ships Management will take delivery of two (2) 82K DWT kamsarmax bulk carrier newbuildings in Q2 2023. Thenamaris Ships Management is spending around $27 million each for the 82K DWT kamsarmax bulk carrier newbuildings. 14-June-2022

 

Greek shipowner and operator Thenamaris Ships Management controlled Thenamaris Conbulk Inc. acquired 2010 built capesize bulk carrier 181K DWT MV Bulk Denmark for around $30 million from Japanese shipowner and operator Nissen Kaiun. MV Bulk Denmark underwent a special survey (SS) in November 2020. MV Bulk Denmark is outfitted with a scrubber and a Ballast Water Treatment System (BWST). In December 2020, Thenamaris Conbulk Inc. acquired 2011 built capesize bulk carrier 180K DWT MV Sealeader II (ex MV Tiger Guangdong) for around $16 million from Chinese shipowner and operator Greathorse International. In February 2021, Thenamaris Conbulk Inc. ordered two (2) kamsamarmax bulk carrier new buildings at Nantong Cosco Ship Engineering. In March 2021, Thenamaris Conbulk Inc. acquired 2019 built kamsamarmax bulk carrier 81K DWT MV Yangze 16. Currently, Greek shipowner and operator Thenamaris Ships Management owns a mixed fleet of about 100 vessels. 14-July-2021

 

Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management sold 2010 built supramax bulk carrier 56K DWT MV Seahope II and 2010 built supramax bulk carrier 56K DWT MV Seapace for around $17 million en block. Recently, the dry bulk secondhand market shifted away from larger capesize bulk carriers to small bulk carriers. Currently, Asian shipowners have strong appetite for secondhand upramax and ultramax bulk carriers. Greek shipowner and operator Thenamaris established Thenamaris Conbulk Inc. 9-February-2020

 

Greek shipowner and operator Thenamaris established Thenamaris Conbulk Inc. Thenamaris Conbulk Inc. will be the management and chartering arms for Thenamaris’ bulk carrier and container ships. Currently, Thenamaris Conbulk Inc. controls 19 bulk carriers and 4 containerships. In May 2020, Athens-based Thenamaris registered Thenamaris Conbulk Inc. in Greece as a separate ship management company. Thenamaris has a diversified fleet of more than 100 ships. Previously, Thenamaris established Thenamaris LNG for the company’s fleet of 12 gas carriers. Thenamaris is led by Dinos Martinos. Dinos Martinos’ brother Andreas Martinos established Minerva Marine. Shipowners establishes different companies for charterers, by highlighting their different ships are operated by distinct outfits. In 2019, Greek shipowner and operator Tsakos established Tsakos Conbulk Services (TCB) which is a separate company that is a similar move to Thenamaris. Tsakos Conbulk Services (TCB) controls 17 bulk carriers and containerships. Thenamaris Conbulk Inc. and Tsakos Conbulk Services (TCB) represent the rebranding activity of the Greek shipowners. 16-November-2020

 

Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management acquired four (4) capesize bulk carriers for $64m million en bloc from Greathorse International’s sister company Tiger Group. Thenamaris Ships Management acquired 2010 built capesize bulk carrier 180K DWT MV Tiger Jiangsu, 2011 built capesize bulk carrier 180K DWT MV Tiger Guangdong, 2011 built capesize bulk carrier 180K DWT MV Tiger Shandong, 2011 built capesize bulk carrier 180K DWT MV Tiger Liaoning from Greathorse International’s sister company Tiger Group. This is the first bulk carrier acquisition of Thenamaris Ships Management since 2016. Thenamaris Ships Management has increased its presence in capesize segment. Currently, Thenamaris Ships Management controls a mixed fleet of around 100 ships. Secondhand capesize prices plummeted to levels that some Greek shipowners find difficult resisting to invest. 1-November-2020

 

Nikolas Martinos-led Greek shipowner and operator Thenamaris Ships Management has sold one of four dry bulk carriers that were bought at the bottom of the market in 2016. Greek shipowner and operator Thenamaris Ships Management has sold 2012 built kamsarmax dry bulk carrier 81K DWT MV Seatribute to a Chinese shipowner for $21 million. Kamsarmax dry bulk carriers price tag has increased and lately, 2012 built kamsarmax dry bulk carrier 81K DWT MV Prime Lily was sold for $20.5 million. In 2016, Greek shipowner and operator Thenamaris Ships Management acquired 3 kamsarmax and 1 capesize dry bulk carriers. Thenamaris Ships Management has a fleet of 86 dry bulk carriers, tankers and gas carriers worth almost $3 billion. 18-December-2018

 

Greek shipowner and operator Navios Maritime Holdings sold 2001 Japanese built supramax dry bulk carrier 52K DWT MV Navios Herakles for about $8 million. The price tag of MV Navios Herakles is likely to represent a drop in the price of vintage dry bulk carriers which has a limited buyer interest right now. In 2003, New York-listed Navios Holdings bought MV Navios Herakles as part of an en bloc deal with compatriot Thenamaris Ships Management. Greek shipowner and operator Navios Maritime Holdings has a fleet of 39 ships with an average age of 10 years. 20-March-2018

 

Greek shipowner and operator Thenamaris Ships Management is selling Korean built kamsarmax dry bulk carrier 81K DWT M/V Seatrust (ex M/V Liberty Dawn) for $22.6 million to Nikolas Martinos led New York-listed Diana Shipping. In March 2016, Greek shipowner and operator Thenamaris Ships Management bought M/V Seatrust (ex M/V Liberty Dawn) from Liberty Maritime for just $13 million. Greek giant shipowner Thenamaris Ships Management has a mixed fleet of 70 vessels. Unlike other giant shipowners who were forced to sell ships during the downturn of the dry bulk market, Diana Shipping bought 31 ships for $1 billion. 21-April-2017

 

USA based shipowner and operator Liberty Maritime sold 4 kamsarmax bulk carriers to Thenamaris Ships Management and Embiricos Shipping. CEO Philip Shapiro led Liberty Maritime sold 82K DWT M/V Liberty Dawn, M/V Liberty Desire, M/V Liberty Destiny, M/V Liberty Dream for around $12 million per ship. Liberty Maritime focuses on the US-flag market Johns Act and idled fleet due to declining US government food aid. 29-March-2016

 

Greek shipowner Thenamaris Ships Management chartered out its 2010 built panamax bulk carrier 77K DWT M/V Seamate (ex M/V Faustina) 77,000 DWT to SwissMarine for a year at $5,600 per day. Thenamaris Ships Management bought M/V Seamate (ex M/V Faustina) for $19 million in January. 29-February-2016