About a week after taking delivery of a pioneer ammonia-ready suezmax, Avin International emerged as buyer of at least one non-eco tanker vessel.
The Greek company’s move reflects the complex strategies adopted by shipping players who pursue a gradual transition towards greener forms of shipping.
“We can be optimistic that Greeks… will be at the forefront of [shipping’s] future,” the country’s shipping minister Yannis Plakiotakis said on 8 March while raising the Greek flag on Avin’s 150,000-dwt Kriti Future (built 2022).
Ordered at New Times Shipbuilding, the aptly named ship is the world’s first “ammonia-ready” tanker based on an ABS-approved design, as TradeWinds reported early last year.
Plakiotakis made the statements during a ceremony as the ship was berthed at the Motor Oil refinery west of Athens. Both Motor Oil and Avin belong to the Vardinoyannis family.
Most Avin vessels are named after the clan’s home island of Crete, which is called ‘Kriti’ in Greek.
The Kriti Future not being enough for Avin’s decarbonisation plans, the company exercised an option for a second ammonia-ready suezmax at New Times in China last year.
That second newbuilding features Hull No 0315854 and will be named Kriti Energy upon delivery in July, according to IHS Markit.
GEM offloads its smallest ships
Avin, an outfit with nearly 40 tankers, isn’t neglecting to expand with older vessels as well.
The company emerged earlier this month as new owner of the 37,500-dwt MR Gulf Mews (built 2007), which is now trading as Kriti Sailor.
Clarksons describes the Hyundai Mipo-built ship as a “non-eco” vessel burning very low-sulphur fuel.
The Gulf Mews was reported sold in January by Gulf Energy Maritime (GEM) to unidentified Greek buyers for more than $7.5m.
GEM-owned sisterships Gulf Moon and Gulf Mist were believed to be part of the same deal. The Gulf Moon, however, has emerged with another Greek company since, Alberta Shipmanagement, and is currently trading as Milou.
The Gulf Mist continues to be listed with GEM. Some brokers, however, believe it went to Avin as well.
Greek MR buying seems to have extended to other vessels recently.
Hellenes have reportedly swooped on a sistership pair offloaded by Norden earlier this month — the 38,300-dwt Nord Swan (built 2009) and the one-year older Nord Snow Queen (built 2008). Both vessels are believed to have fetched about $9.5m each.
London-based brokers have identified Mantinia Shipping as the Nord Swan’s buyer. Mantinia managers didn’t immediately respond to a request for comment. If confirmed, that would be Mantinia’s first tanker purchase in more than 10 years.
