Thenamaris has joined the list of major Greek shipping companies that have set up separate management and chartering arms for their dry bulk and boxship fleets.
The Athens-based outfit started last month to market its 19 bulkers and four containerships under the new name of Thenamaris Conbulk Inc. The move separates the vessels from the 67-strong Thenamaris fleet.
The step follows Thenamaris Conbulk’s formal registration with Greek authorities in May as a separate ship management entity. The Thenamaris website already lists all the company's bulkers and containerships under the new branding, Thenamaris Conbulk.
TradeWinds understands the move reflects the company’s wish to provide more visibility to outsiders in what has a become a burgeoning, expanding fleet with more than 100 ships.
Thenamaris has already established another separate arm, Thenamaris LNG, for its fleet of 12 gas carriers, including newbuildings under construction in South Korea.
The move sees Thenamaris owner Dinos Martinos follow other Greek shipping names who set up multiple management brands over the past few years.
Players that have taken such moves include his brother, Andreas Martinos at Minerva Marine, as well as John Angelicoussis, the Chandris family, Spiros Polemis, Evangelos Marinakis, Melina Travlou and Leon Patitsas.
One of the reasons these owners took that step was to raise the profile of specific parts of their fleets with charterers, by highlighting they are operated by distinct outfits.
Tsakos Conbulk hits its stride
The Tsakos family also joined that trend last year when it established Tsakos Conbulk Services (TCB) — a low-profile, separate group company with a name strikingly similar to that chosen by Thenamaris last month.
Tsakos Group’s website makes no mention of Tsakos Conbulk as a separate entity. IHS Markit, however, lists the new company as manager of 17 privately held Tsakos bulkers and containerships. This covers all but two of the 19 boxships and bulkers that Tsakos has under management.
It remains unclear whether Thenamaris Conbulk and Tsakos Conbulk represent just a rebranding exercise or if they could possibly herald a further expansion in that arena.
Thenamaris earlier this month reportedly committed to its first bulker buy in four years by moving on a quartet of capesizes in a $64m deal said to be on subjects.
As for Tsakos Group, it was linked last month to a $20.5m purchase of the 179,700-dwt capesize ER America (built 2010).
Tsakos has made sale-and-purchase news more recently.
Brokers have reported that the company agreed to its first containership purchase in almost three years. Tsakos paid about $8.6m to Germany’s NSC Schifffahrtsgesellschaft for the 4,000-teu Newark (built 2006).
The Newark, however, may not be heading under the management of Tsakos Conbulk but rather to Tsakos Container Navigation, a joint venture between the Greek owner and UK-based Warwick Capital Managers.
Officials at Tsakos and NSC did not immediately respond to requests for comment on reports of the transaction.
