Chinese kamsarmax player Fujian Ocean Shipping is the likely buyer of an ageing brace of vessels offloaded by Navitas Compania Maritima — a publicity shy Greek outfit that is reshuffling its fleet.
The Athens-based company is widely reported to have offloaded two of its oldest vessels to make space for younger ships it bought earlier this year.
Navitas Compania is linked to the Manessis family, which owns Greek steelmaker Halyvourgia Ellados.
The 87,100-dwt IHI-constructed sister ships Ioannis M and Captain Mike (both built 2005) have both gone to undisclosed interests in a $26m en-bloc deal, according to several brokers in Europe.
VesselsValue suggests Fujian Ocean is the buyer and that the Ioannis M is already trading with the Hong Kong-based company as the Zheng Fan.
Managers at Fujian Ocean did not respond to a request for comment.
However, Fujian Ocean has been involved with a third 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 the 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 reported that the firm is 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 Compania 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 fleet includes two recent acquisitions, already reported by TradeWinds, which joined the company during the first quarter of 2024: the 93,300-dwt Charlotte Oldendorff (renamed Mountain Lion) and sister ship Heide (renamed Mastro Michael, both built 2010).
