Mytilinaios Evangelos grows new dry bulk arm

Mytilinaios Evangelos grows new dry bulk arm

Greek tycoon Mytilinaios Evangelos continues to build a sizeable dry bulk fleet. His dedicated shipping arm, M-Maritime has been linked to several ships in the first couple of month of the year.

Sources tell Splash that the Greek owner has taken the SPP-built, 35,000 dwt Trading Fabrizia from Italian owner d’Amato for $9m. The Trading Fabrizia was reported sold earlier this month.

The ship had been under court arrest in Jamaica since October last year.

In addition M- Maritime is also linked by brokers to the purchase of a couple of Oshima-built newbuildings, which are around 61,000 dwt in size.

In November M-Maritime had its first acquisition, taking Chowgule Steamship’s youngest ship, Maratha Premier, a 34,900 dwt bulker, for $16.5m. This ship is now renamed Avra.Gr.

In December brokers linked the company to the 64,000 dwt Caravos Melody ultramax resale. No sale was however finalised and a Chinese owner ran away with this ship.

Mytilineos Holdings is a diverse industrial conglomerate involved in power production, mining, metallurgy and defence equipment manufacturing and lays claim to being among Greece’s largest heavy industries groups.

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.

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