Bulker specialist M/Maritime is now in full control of all 18 ships in its fleet, following the acquisition of the last vessel it did not already own.
The Athens-based company, which is backed by Greek entrepreneur John Mytilineos, announced on its website that it has gained “full management” of the 37,700-dwt Amber Star (built 2017) after the end of the ship’s five-year charter-in agreement with its previous Japanese owners.
The Imabari-built ship, which is now trading as Amber Star.GR, had been previously listed with Japan’s Santoku Senpaku and managed by TMA Bulk — a Hamburg-based outfit co-founded by M/Maritime.
The Amber Star had been the sole vessel that M/Maritime had chartered in alongside MC Shipping’s 63,400-dwt Rising Sky (built 2017), which M/Maritime acquired in February, as TradeWinds reported at the time.
TradeWinds reported that the company had a purchase option on both ships and that it would likely exercise them.
Pricing details are not available but it is understood that the ships changed hands at attractive terms for the buyers.
Following the two purchases, M/Maritime has 18 Japanese-built bulkers under full management, with an average of 6.7 years. The fleet consists of eight handysizes, eight ultramaxes and two kamsarmaxes.
Apart from buying secondhand vessels built in Japan, M/Maritime also ordered new vessels there, following the cultivation of close relationships with some of the country’s leading shipbuilding players.
The company has inked vessels at Japan’s Mitsui Engineering & Shipbuilding, Namura Shipbuilding’s Hakodate Dock and Saiki Heavy Industries.
