Leon Patitsas makes bulk carrier return

Leon Patitsas makes bulk carrier return

Aframax specialist Leon Patitsas’s Atlas Maritime appears to have diversified its fleet and snapped up its first bulker in many years. The company had said earlier this year that it has been exploring a return to dry bulk.

Patitsas, 41, is linked to a kamsarmax sold by the trustees of Japan’s United Ocean Group, a firm that sought bankruptcy protection 15 months ago.

Brokers suggest Patitsas has paid $23m for the three-year-old, Tsuneishi Zosen-built United Ocean. The price is described as firm as similarly aged sister ship, United Prestige, fetched $22.5m just over two weeks ago.

An additional three ex-United Ocean Kamsarmax candidates, built between 2012 and 2014, are currently being inspected and are expected to be sold by the end of the month.

Atlas Maritime, founded in 2004, is mainly a tanker player, with five aframaxes and a VLCC listed on its site. In the past it has owned gas carriers and bulkers too.

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.

Related Posts