Dry CargoEurope

Pavimar acquires Triton Navigation panamax pair

Greek dry bulk outfit Pavimar has acquired a pair of Sanoyas-built panamaxes from Triton Navigation, the Netherlands-based owner connected to Japan’s Sumitomo Corp.

Brokers are reporting that Pavimar has paid $27.6m in total for the 2009-built panamaxes Lake Dahlia and Triton Gannet.

The price is higher than the fair market value of $26.51m for the pair according to VesselsValue, and $26.6m according to MSI, however both vessels have just completed surveys according to Equasis.

Pavimar, founded by Ismini Panagiotidi in 2014, currently has 14 bulkers in its fleet according to VesselsValue.

The company has yet to respond to enquiries from Splash regarding the acquisition.

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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