Navigare takes first ultramax

Navigare takes first ultramax

New Danish outfit Navigare Capital Partners has snapped up its first ultramax, broker sources tell Splash. Navigare, formed this March, is paying Greek owner Primerose Shipping $18.6m for the three-year-old Ultramer, deemed a firm price for the Chinese-built ship in comparison to what online pricing portal VesselsValue.com has the vessel listed at.

The emerging Danish player took its first two ships from LGR Navigazione in April, both modern MR tankers, in a deal worth just under $50m.

Navigare was set up by shipping veterans Henrik Ramskov, Lars Bagge Christensen, John Boesen and Stig Enslev. Its aim is to invest in maritime assets including asset backed securities and debt. Navigare aims to build a diversified portfolio of assets across shipping segments.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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