Which Greek shipowners will play a leading role in ship sales in 2021?

Greek shipowners are also absolute leaders in the market of second hand ships in 2021, who spent record amounts for the strengthening and renewal of their fleets.

According to data shared by the analysis firm VesselsValue with “K”, from January to mid-December, the “Greeks” bought 376 used steamers, for $ 8.18 billion.

The vast majority of deals concern bulk carriers, as the satisfactory freight market caused a “domino” of purchases worldwide. Specifically, the Greeks invested $ 4.37 billion for 236 such ships. At the same time, they spent $ 2.11 billion on 93 tankers. The Greek navy manages the largest fleet of tankers internationally, which explains the market movements, amid low fares for an extended period of time.

Greek funds have been channeled to the other shipping sectors. In particular, they have purchased four LNG carriers for $ 828 million, 29 containerships for $ 636.5 million, 2 LPG carriers for $ 180 million and 12 other steamers, which cost $ 57.3 million.

The buying-selling balance of Greek shipowners is positive. According to the shipping broker Allied Shipbroking, the shipping companies, of Greek interests, gave a total of 226 ships this year, receiving 3.51 billion dollars (data until December 12).

Specifically, 105 bulk carriers were sold (for $ 1.27 billion), 83 tankers (for $ 1.35 billion), 29 containerships (for $ 410.5 million) and 5 gas carriers (for $ 455.7 million). dollars).

In this context, “K” records with the assistance of VesselsValue the Greek shipowners, who starred this year in the purchase and sale of used ships. In the first list we find the ten companies with the most purchases and in the second the ten names that closed the most sales deals. The ranking was based on the value of the agreements.

The top-10 buyers

Leading buyer is the listed company, Capital Product Partners, interests of Vangelis Marinakis. The figures show that he bought a total of seven ships, paying $ 868.5 million. The company is expected to include in its fleet six LNG carriers, which were controlled by the LNG arm of the Marinakis Group, Capital Gas, in an intragroup transaction. With the addition of the ships, at the end of the year CPLP will control a fleet of 21 vessels, of which 14 are containerships, one bulk carrier and six LNG carriers.

Next is the Costamare of Kostis Konstantakopoulos, which is said to have bought 46 second hand ships, for 754.3 million dollars. The listed company made an impressive opening this year in the industry of bulk dry cargo ships. Recently, it announced the purchase of seven bulk carriers, continuing the investment rally that began in the summer. In fact, newer information connects the company with another used supramax. The shipping company, which announced the previous days and mega order for new ships, controls, according to official data, 79 containerships and 44 bulk carriers.

In third place is the Capital Ship Management of the Marinakis Group, which has been associated with investments in seven ships, amounting to 314.3 million dollars. Based on the latest available data, the Group controls a fleet of 108 vessels, including 9 LNG Carriers, 56 tankers, 38 container vessels and 5 dry cargo vessels.

Next is Danaos Shipping by Giannis Koustas, which has been strengthened with six ships, spending a total of 260 million dollars. These are containerships, with a capacity of 5,466 TEUs each. The ships, which have an average age of 6.8 years, are on charter time with leading liner companies, with an average duration of about two years. The shipping company is closely monitoring the conditions in the used car market and is moving accordingly, while for the time being it is reluctant to order new tonnage, due to uncertainty regarding the environmental regulations. The US listed company manages a fleet of 71 containerships.

The top five is closed by Eastern Mediterranean Maritime (EastMed) by Thanassis Martinou. In particular, it is said to have acquired seven ships, for $ 248.6 million. As can be seen from the data, the shipping company is very active in buying and selling, with an emphasis on tankers, which means that it looks forward to a recovery in the shipping market in the coming months. Recently, brokers linked it to the purchase of two MR (medium range) tankers under construction, for $ 37.8 million each. The company operates in bulkers, containerships and tankers, controlling a total of 77 ships, according to its website.

High on the list is NGM Energy, interests of the Moundreas family, which has been reinforced with nine used ships, spending a total of $ 214.4 million. In the most recent deal, various shipping agents reported that he bought the bulk carrier, post panamax type, “Mayfair Spirit” (capacity 93,257 dwt and built in 2011). The purchase cost was determined in the “zone” of 18-19 million dollars. The Equasis data platform locates 28 ships (bulk carriers and tankers) in the company’s fleet.

Stamatis Tsantanis’ Seanergy Maritime has invested $ 193.2 million in seven bulk carriers since the beginning of the year. These are capesize type steamers, made in Japan. Seanergy is the only company listed on the US stock market that exclusively manages a capesizes fleet. In particular, it controls 17 such ships, with an average age of about 11.7 years.

Next is Petros Pappas’ Star Bulk Carriers, which reportedly bought nine ships for $ 186.2 million. The company is listed on the US stock exchange and is one of the largest “players” in the bulk dry cargo market internationally. In total, it manages 128 bulk carriers. Speaking recently at a shipping conference, Mr. Pappas’s daughter and Star Bulk’s commercial director, Milena Pappas, appeared particularly bullish about the prospects of the shipping market.

In ninth place is the Capital Gas of the Marinakis Group, with purchases of two ships, for 180 million dollars. Shipping is also active in the field of shipbuilding. In fact, brokers noted in early November that it had ordered three LNG carriers at a South Korean shipyard. Capital Gas’s fleet currently consists of nine modern LNG carriers, the oldest of which is built in 2020.

Finally, Nicolas Martinou’s Thenamaris completes the top ten buyers, with investments of $ 143.7 million for five ships. The company’s latest purchase is said to be the aframax tanker “Densa Whale” (capacity 158,300 dwt and built in 2012), which cost about $ 32 million. The shipping company manages a fleet of 103 ships, of which 61 are tankers, 20 bulk carriers, while it is also active in containerships and LNG-LPG carriers. At the same time, a shipbuilding program of nine ships is “running”, the majority of which are tankers.

The top-10 sellers

Central Mare, in the interests of the shipowner Evangelos Pistiolis, has closed the sales deals of greater value. In particular, it reportedly leased nine ships for $ 670.8 million. In mid-May, it became known that it had agreed with Frontline to sell six submarine-built submarines (VLCCs), a move that reduced its order book to two such ships. Based on the information provided on its website, it manages 14 tankers, along with the two units under construction.

In the next two positions we meet two companies of the Marinakis Group. Capital Ship Management reportedly sold five vessels for $ 454.2 million and Capital Gas two for $ 412.7 million.

It is followed by Okeanis Eco Tankers, interests of the Alafouzos family, which reportedly left five tankers, for $ 300.8 million. Last June, the Oslo Stock Exchange announced the sale of two VLCCs. In fact, in a presentation of the company for the results of the third quarter, it is pointed out that the policy of opportunity sales of ships will continue, in order to result in increased profits from the so-called “asset play” moves (selling at a price much higher than the amount paid for the purchase of steamer). The shipping company manages 14 modern ships transporting crude oil and petroleum products, which are designed with eco standards.

Nofi Shipping of Theofilos Priovolos, who also claimed the Scaramanga Shipyards, has been connected with four ship sales, for $ 284.8 million. Its fleet consists mainly of container ships, but also general cargo, vehicle transport and bulk dry cargo.

In the next position we meet Cyprus Sea Lines, interests of Andreas Hatzigiannis. The shipping company has reportedly leased five ships, for $ 267.8 million. Recently, brokerage sources linked the company with the sale of containerships “City of Alexandria” (capacity 5,040 TEUs and built in 2006), “CSL Santa Maria” (5,047 TEUs, 2005) and “Sc Mara” (5,060 TEUs, 2006), for 68 million dollars each. It is noted that Mr. Hatzigiannis – president of the Cypriot Shipowners’ Association – has been in the spotlight several times, due to the impressive charters he secures for the ships of his fleet.

The Athenian Sea Carriers, in the interests of the Kyriakou family, are said to have raised approximately $ 226.5 million for the sale of three ships. One of the interesting deals of the company is the alleged, according to freight brokers, sale of two VLCCs under construction to the Marinakis group, last March. Its website states that it manages five tankers.

Tsakos Shipping & Trading, in the interests of the Tsakos family, has made big “asset play” moves this year. The figures connect the company with sales of six ships, for $ 198.2 million. Shipping seems to take advantage of the “launch” of values ​​in the containerships industry and sells assets at “salty” prices. In mid-October, freight brokers reported that “Irenes Respect” (with a capacity of 2,824 TEUs and built in 2006) was sold for $ 43 million, while Tsakos reportedly paid about $ 8 million to acquire it a few years ago. . At the same time, Braemar finally reported that the company sold the “Irenes Wave” (capacity 6,029 TEUs and built in 2008), without knowing the amount of the agreement. Its value, however, was estimated by VesselsValue at $ 76.19 million. At the same time, the company is replacing these ships with new ones, as earlier this year it ordered two containerships in South Korea. The Tsakou Group currently manages 100 ships, of which 76 are tankers, 12 bulk carriers, 9 containerships and 3 LNG carriers.

The top ten is completed by Costamare, with sales of six ships for $ 181 million and Navios Maritime Holdings by Angeliki Frangou, which reportedly leased seven ships for $ 144.7 million. As noted in the financial statements of the latter, several of them ended up with Navios Maritime Partners. Navios Maritime Holdings is listed on Wall Street and operates approximately 38 bulk carriers.