London shipowner and operator Ashley Group Holdings Limited (AGHL) has taken a major step forward on fleet renewal with a deal to take over the charters of four bulk carriers.
The low-profile, privately held company has bought the term deals held by Oslo-based Vincent Shipping on three kamsarmaxes and an ultramax owned by Japan’s Nisshin Shipping.
The five-year charter employment was signed in 2020 with rates starting at $12,000 per day and purchase options attached.
The vessels are the 81,000-dwt trio Vincent Trader (built 2019), Vincent Talisman and Vincent Triton (both built 2020), and the 63,500-dwt ultramax Vincent Mountain (built 2020).
The UK company was incorporated in January 2021 to act as a parent for group subsidiaries active in shipping, chartering and commodities trading.
AGHL has its roots in HG Mann Shipping, founded early last century by the Mann family.
Christopher Mann owns between 25% and 50% of the company, according to a filing with UK Companies House.
Its core trades are in the supramax, ultramax and panamax bulker sectors, but there are also investments in capesize vessels and tankers.
There are now more than 30 owned and chartered-in ships in the fleet.
The group was asset-light up to 2019 but then started investing in bulkers itself, with the first purchase being a supramax.
‘Substantial contracts’
Chief executive Peter Allan told TradeWinds: “We are operating and owning a range of vessels between dry and tankers, which service the needs of our clients. We do not disclose ships on time charter or owned due to confidentiality reasons.”
He also explained AGHL has “substantial” contracts for its trading arm with major operators and owners.
The company describes itself as a “niche” player, run by “shipping people”.
The group is handling 9m-plus tonnes of commodities per year.
The strategy is to grow carefully with acquisitions, after examining potential purchases minutely for operational and fuel efficiency.
