Barrage of sales of 20 ships in 2021 by Lomar of the shipowner Logothetis

Of George Georgiou

The values ​​of container vessels “climbed” to record levels in 2021, boosted by the excellent freight market, mobilizing a number of shipowners to enter into lucrative sales deals.

“Once the prices of containerships have reached, it’s hard not to sell. Steamers, which you bought for $ 10 million, you can now give away for $ 50 million,” Capital.gr executive of a large shipping company, Greek interests.

One of the shipping companies that followed this strategy is Lomar Shipping by George Logothetis. According to data shared by VesselsValue Capital.gr, the company reportedly sold 20 containerships this year for $ 700 million.

The numbers indicate that Lomar is the Greek shipping company with the most second hand steamer sales during the current year.

The details of the deals

The company appears to have provided containerships of all sizes, from smaller feedermaxes for $ 25 million to larger post panamaxes, earning more than $ 200 million.

The busiest month so far was June, when deals were reportedly closed for six containerships, while five steamers were awarded in September.

VesselsValue data show that buyers of Lomar ships are mainly large scheduled companies. One of the world’s leading companies, the Mediterranean Shipping Company (MSC), is said to have acquired ten containerships, spending more than $ 300 million.

Its most recent purchases from Lomar include, according to shipping agents, two sister ships, the “Long Beach Trader” and the “Los Angeles Trader” (with a capacity of 6,039 TEUs and built in 2007 each).

At the same time, Aristides Pittas’ Euroseas bought a shipping ship. The reason for the “Piraeus Trader”, (capacity 1,732 TEUs and built in 2006).

It is noted that in addition to sales, Lomar has been associated with the purchase of five containerships, during this year. The purchase cost is estimated at about $ 40 million.

Finally, a few days ago, Lomar announced the receipt of a loan of $ 42.5 million from the German investment bank, Berenberg Bank. As mentioned in the relevant text, the amounts will be channeled into fleet renewal and development moves.