A Greek shipping company that emerged last year from the splitting of interests in a branch of the Lemos clan has left business after a string of arrests and disputes.
Panthalassa Maritime Corp appeared on the radar in 2020 as the manager of two bulkers originally in the fleet of Diamantis Lemos Ltd, a UK-based outfit that was dissolved in the spring of the same year.
The company did not make it far. Last month, Greece’s shipping ministry revoked its operating licence, following the failure by Panthalassa officers to submit any activity reports for 2020, as local ship management companies are obliged to under Greek law.
This is hardly surprising, considering Panthalassa's troubles. Led by 43-year-old Markos John Lemos, the company saw both its vessels idling in Chinese ports.
In December 2020, lenders forced an auction of the 75,000-dwt Angelic Glory (built 2002).
The International Labour Organization (ILO) has been listing sistership Angelic Power as abandoned at Guishan anchorage.
Greek labour union officials attributed the Angelic Power's arrest to a dispute between Panthalassa and Diamlemos Corp, another Lemos family outfit that was previously listed as owner of both the Angelic Glory and the Angelic Power.
As a result of the dispute, the Angelic Power's crew members had been on board for 17 months and were owed five months of salary before a final batch of 13 Filipino and two Greek seafarers were repatriated in July.
The Greek flag state carried the full cost of repatriation and slapped more than €500,000 ($592,000) in fines on the ship’s management company in connection with the incident.
