Ariston Navigation: ‘No clear prospects of a recovery in sight’

Ariston Navigation: ‘No clear prospects of a recovery in sight’

Piraeus: John A. Xylas, president and ceo of Ariston Navigation, is a well-known player in the dry bulk business. He doesn’t see any sign of recovery for his sector, he tells Maritime CEO.

“The biggest challenge facing the dry bulk industry at the moment is a combination of oversupply of tonnage and gloomy prospects from the slowdown of China,” says Xylas, adding: “We expect a very challenging 2016 with no clear prospects of a recovery in sight.”

Piraeus-based Ariston Navigation has bulk carriers, cement carriers and other general cargo vessels.

“The company’s core activity is to manage the vessels of our principals, who are mainly the Xylas family, but also some close friends in joint ventures with family members,” explains Ariston’s ceo.

Ariston is then the management arm of a group owned by the Xylas family, a well respected fourth generation traditional Greek shipping family with its shipping origins founded in the early 1900s. Over the years the group has managed more than 100 vessels and has supervised the construction and delivery of more than 80 newbuildings. The types of vessels have always been in the dry sector, primarily handysize bulk carriers.

At present the fleet consists of 12 modern bulk carriers and three cement carriers. Its bulk carriers are trading in three pools: the Trader Pool managed by Clipper in Copenhagen, the Sea Stallion Pool, jointly founded by Aug. Bolten and Ariston and managed by Aug. Bolten in Hamburg, and the GMI Pool in the UK.

The cement carriers are chartered on long term contracts to the Lafarge Group of France. These carriers range from 6,300 to 10,200 dwt while the bulk carriers go from 30,600 dwt to 82,000 dwt.

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