A flurry of largely unreported deals have been struck by Greek shipowners in the secondhand market for handysize bulkers so far this year.
Synesios Leontiadis-led Lion Bulk Carriers sold the Imabari Shipping-constructed, 28,400-dwt Explorer (built 2012) to Taylor Maritime in a deal that has remained below the radar — and no price details have emerged.
Athens-based Lion Bulk Carriers, which did not respond to a request for comment, purchased the ship in late 2016 for a reported $7.9m. VesselsValue estimates it is now worth about $12.6m.
Equasis shows the vessel is now trading in the fleet of handysize specialist Taylor Maritime under the name Gold Dust.
This is the Hong Kong-based company’s ninth purchase this year, boosting its fleet to 25 ships. The acquisition is understood to have been a private deal.
Lion Bulk Carriers has already replaced the Explorer with a bigger vessel — the 55,300-dwt Sage Pioneer (built 2008), which has been renamed Sea Fortress. That ship was reported sold in January by JP Morgan to unidentified interests for $14m.
Greeks have also been active as buyers.
Small player Atlantis Management, led by Minos Athanassoglou, has been particularly busy, quietly adding three vessels in separate deals since last summer to boost its fleet to four ships. The most recent addition, last month, was the 36,800-dwt Nord Seoul (built 2010). Renamed Atlantis Discovery, that ship was reported sold by Norden in March to undisclosed interests for $11m.
By that time, Atlantis had already taken delivery of the 37,300-dwt Cielo di Venezia (built 2098), which it renamed Atlantic Fortune after acquiring it from Japanese interests for about $10.9m at the end of last year.
Another comeback
Arion Shipping, another small operator, recently took delivery of the 28,300-dwt Zenith Explorer (renamed Marika, built 2008) after a deal in April with Taiwan’s Sincere Industrial to buy the vessel for about $8.5m.
And a traditional name that has moved in and out of the shipping arena since the turn of the century appears to be making another comeback. Marcrecida Compania Naviera has emerged as the owner of the 27,300-dwt Zeus I (built 2009). The ship, now renamed Naftilos, was reported sold at the end of last year for $6.4m. But it would appear that it was not delivered until late June.
Marcrecida was founded in 1966 but is understood to have been inactive for several years.
Meanwhile, Greek owner Evalend Shipping has denied market rumours that it has disposed of a three-year-old handysize bulker.
Speculation had been swirling around brokers’ offices that the Athens-based company was selling the 38,200-dwt Evangelia L (built 2015) to Middle Eastern buyers for about $19m. However, Kriton Lendoudis-led Evalend told TradeWinds via email that this was “a false rumour” and that the vessel was not even for sale.
Evalend acquired the Evangelia L more than three years ago in a resale deal from Bahamas-based bulker venture Agriculture & Energy Carriers, reportedly for $22m.
The ship was then due to be delivered by Japan’s Naikai Sedota yard under the name of AEC Faith.
