Navitas Compania Maritima, a low-profile Greek bulker specialist linked to the Manessis family that doubled the size of its fleet in the past decade, has developed an appetite for Chinese-built post-panamaxes.
The company has emerged as the buyer of two identical 93,300-dwt sister ships built at Yangfan Group’s Zhoushan yard in 2010 and sold in two separate deals.
TradeWinds reported in January about Germany’s Oldendorff Carriers divesting the Charlotte Oldendorff to unidentified Greek interests for $15.45m.
The ship has emerged in the Navitas fleet under its new name, Mountain Lion.
A second post-panamax to have joined the Navitas fleet is the Heide.
The ship used to trade as Anastasia in the fleet of Stamatis Molaris’ Empire Bulkers. In 2020, however, it changed its name to Heide under unclear management.
Transaction details
VesselsValue suggests it was Empire Bulkers that sold the vessel to Navitas in October 2023 at an undisclosed price, with delivery in January 2024, when its name changed to Mastro Michael.
Navitas does not have a website or an official fleet list that would confirm its two latest additions.
Managers at the Athens-based shipowner did not respond to a request for comment on the two moves and their overall strategy.
Navitas was established in Panama in 1979. Two data banks show Miltiadis Lapardas as company president.
Market sources, however, are linking the firm to the Manessis family, the owners of Greek steelmaker Halyvourgia Ellados. The headquarters of both Navitas and Halyvourgia Ellados are listed under the same address in the Athens suburb of Kifisia.
Day-to-day management seems to be in the hands of Fotis Papafloratos, who has been with the firm since 1999 as chartering manager and managing director.
The additions of the Heide and Charlotte Oldendorff are the latest moves in a long-term expansion drive in which the company more than doubled its fleet over the past eight years.
In June 2016, Navitas was listed with five bulkers — two post-panamaxes, a kamsarmax and two supramaxes.
Today, its fleet has grown to 12 vessels: two capesizes, five post-panamaxes, one kamsarmax, two supramaxes and two handysizes.
