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.