Nikolas Pateras embarks on feeder buying frenzy

Nikolas Pateras embarks on feeder buying frenzy

Nikolas Pateras and his 2015-founded Contships Management have embarked on a feeder buying frenzy. Pateras, an adept asset player who sold off his Pacific & Atlantic Corp 50-strong bulker fleet before the 2008 crash, has identified feeder ships as a strong growth area pricing-wise.

Brokers are tipping Contships Management as the buyers of four Hartmann Schiffahrts KG feeders – the Frisia Alle, Frisia Iller, Frisia Alster and the Frisia Inn – for just $6m. The bargains come as Hartmann continues a dramatic restructuring.

Pateras is also believed to have lodged a $6.5m en bloc bid for two Formosa Plastic boxships – the 1,114 teu FPMC Container 9 and FPMC Container 10. The bidding time for these ships closes tomorrow.

Pateras’s box fleet today numbers 26 ships and in public comments made earlier this year he has a stated goal of doubling his fleet within the next two years.

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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