Chinese kamsarmax player Fujian Ocean Shipping is the likely buyer of an ageing brace of vessels offloaded by Navitas Compania Maritime — a publicity-shy Greek player that is reshuffling its fleet.
Navitas Compania is linked to the Manessis family, which owns Greek steelmaker Halyvourgia Ellados.
The Athens-based company is widely reported to have offloaded two of its oldest vessels to make space for younger ships it purchased earlier this year.
According to several brokers in Europe, the sold units in question are the 87,100-dwt, IHI-built sister ships Ioannis M and Captain Mike (both built 2005), which have both gone to undisclosed interests in a $26m en bloc deal.
VesselsValue suggests Fujian Ocean is the buyer. According to the data provider, the Ioannis M is already trading with the Hong Kong-based company under its new name of Zheng Fan.
Managers at Fujian Ocean did not respond to a request for comment.
Another sign pointing towards Fujian Ocean is that the same firm has been involved with a third, identical sister ship recently.
The 87,100-dwt Navios Apollon I (built 2005) — a kamsarmax that Angeliki Frangou’s Navios Maritime Partners confirmed selling during the summer to undisclosed buyers, has emerged under Fujian Ocean’s management and is currently trading as Eternal Stars.
The S&P Global database lists the Eternal Stars as a vessel chartered out to Fujian Ocean by a Chinese individual who owns the vessel.
S&P lists Fujian Ocean as owner of eight kamsarmaxes that are much younger, having been built between 2012 and 2014.
Some of Fujian Ocean’s ships are involved in the grain trade. TradeWinds has already reported the firm as one of several Chinese shipping players that have sent vessels to the Black Sea to pick up cargo from Ukraine’s beleaguered ports.
The sale of its two oldest kamsarmaxes brings the Navitas fleet to 10 bulkers: two capesizes built in 2004 and 2005, as well as three post-panamaxes, one kamsarmax, two supramaxes and two handysizes.
The Navitas fleet includes two recent acquisitions that TradeWinds has already reported about and which joined the company during the first quarter of 2024: the 93,300-dwt Charlotte Oldendorff (renamed Mountain Lion, built 2010) and its identical sister ship Heide (renamed Mastro Michael).
