Leros Management eyes shipowning exit

Leros Management eyes shipowning exit

Greek shipowner Leros Management appears to be heading for the shipowning exit door, having placed its entire fleet up for sale.

Brokers are circulating the company’s fleet of four bulkers, made up of 2012-built Cosco Zhoushan supramaxes Superior, Observator and Voyager, along with its 2012-built Dae Sun handysize Explorer. It is said the preference from the owner is to sell enbloc, but individual sales will also be entertained.

Leros ordered each of the vessels in 2008 at the peak of the market, and would likely have paid over $40m for the supramaxes and around $37m for the handysize. VesselsValue puts the market value of the entire fleet at just $54.45m today.

Splash understands Leros Management is led by George Leriotis, a cousin of the Tomasos brothers. In 2013, Tomasos company Super Eco Bulkers snapped up a Dae Sun handysize from Leros, the 2011-built Giovanna.

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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