Bariba’s exit from shipping falls through

Bariba’s exit from shipping falls through

Greek owner Bariba Corp has yet to exit shipping, sources tell Splash.

One month after Eastern Mediterranean made headlines for picking up Bariba’s last vessel for $21m, and five months after the Athens-based company circulated its entire seven-ship fleet for sale, brokers tell Splash that the deal collapsed and the SPP-built 81,400 dwt kamsarmax Privocean (built 2013) is again up for grabs.

Barbiba decided to sell its fleet after its principal backer Andreas Vgenopoulos died from a heart attack in November last year.

Brokers tell Splash that Braemar ACM has been tasked with the Bariba sale. A total of five supramaxes and one panamax bulker in the same age group were sold in a fire sale handled by Braemar ACM on behalf of Bariba between June and October.

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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