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Concord Maritime makes shipowning debut with aframax buy

Tanker commercial management firm Concord Maritime, launched in April 2018 by Ben Ognibene, has moved into shipowning with the acquisition of 2007-built (Samsung) aframax tanker Aegean Blue from Greece’s Arcadia Shipmanagement.

The acquisition was confirmed to Splash by Ognibene, who would not comment on the price of $22m quoted by brokers. If accurate, the $22m price tag is a significant discount to the VesselsValue market value of $25.53m.

“We like the fundamentals in the aframax markets – global cargo volume growth, rapidly slowing fleet growth, dearth of newbuilds, volatility in rates, and baseline earnings,” Ognibene told Splash.

Concord Maritime currently has ten aframaxes in its Dakota Tankers pool including tankers from Atlas Maritime, Emarat Maritime and Chartworld.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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