Lomar Shipping has sold two boxships and bought two bulkers in deals worth an estimated $92m.
The UK-based company sold two feeder boxships for an estimated $66m to liner shipping giant Mediterranean Shipping Co (MSC).
The 2,452-teu Milan Trader (built 2002) and 2,127-teu Georgia Trader (built 2007) have been sold for about $33m each, according to boxship sources. That looks set to net Lomar an on-paper profit in the region of $48m.
The Milan Trader was purchased from Italian interests several years ago for slightly more than $7m. The Georgia Trader was taken from the German distressed asset market in 2015 for closer to $10m.
TradeWinds is told the two deals were done a few weeks ago.
The company has been an active seller: it has also bought a brace of supramax bulkers, UK sources said.
Lomar has emerged as the buyer of the 53,400-dwt Teton (built 2008) and Eolus (built 2009) for $26m en bloc. The deal was concluded in June but went unreported.
The two bulkers are technically managed by Technomar Shipping of Greece.
They were bought from Sophocles Zoullas’ Zenith Shipping Group, which acquired the bulkers in 2016 for $9.88m en bloc, sources said.
Long line of sales
Lomar is thought to have sold close to 20 containerships of 1,000 teu up to 5,300 teu this year.
Sales of five other vessels in the past three months are estimated to have netted the company $172m.
These include the 4,992-teu Maine Trader (built 2004), sold at the end of July to OM Maritime of Singapore for $54m. That is thought to be the highest price ever paid for a containership of this age. Lomar acquired the vessel in 2014 for $14m.
In the past two months, Lomar has also netted about $118m on the sale of four other vessels: the 1,774-teu Filia T (built 2019), 1,732-teu Piraeus Trader (built 2006), 2,664-teu Busan Trader (built 2009) and 1,083-teu Boston Trader (built 2004).
