Monte Nero Maritime enters dry bulk with Genco panamax buy

Monte Nero Maritime enters dry bulk with Genco panamax buy

Relatively new Piraeus-based shipowner Monte Nero Maritime has acquired 2007-built panamax bulker Genco Thunder from Genco Shipping and Trading, brokers report.

Both Seasure Shipbroking and Advanced Shipping & Trading have reported the sale at a price of $10.4m, slightly below the VesselsValue valuation of $10.78m.

Monte Nero Maritime was formed in 2017, and has quickly put together a fleet of five tankers. Little is known about the firm, which has registered ships under Grove Maritime Company.

Should the acquisition of Genco Thunder be confirmed, it marks the company’s move into the dry bulk sector.

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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