Ismini Panayiotides-led Pavimar continues to stay busy, adding ships off the radar.
One deal revealed to Splash involves the 76,600 dwt Double Happiness, which was bought from Japanese owner Keishin Kaiun about a month ago. The ship, now renamed Real Happiness, is thought to have cost $10m.
Pavimar has been one of the most aggressive buyers of secondhand panamax tonnage over the past 12 months. The Greek owner has acquired four elderly Japanese-built vessels this year, quietly, almost doubling its fleet size, bringing its fleet list two nine bulkers of which eight are panamax size and the last ship is a supramax with the fleet average age profile now standing at nine years, and all of them built in Japan.