Trade Fortune picks up Great Eastern kamsarmax, its first acquisition in two years

Trade Fortune picks up Great Eastern kamsarmax, its first acquisition in two years

Greek dry bulk owner Trade Fortune has been revealed as the buyer of Great Eastern’s 2011-built kamsarmax Jag Arya.

The Piraeus-based outfit paid a shade above $18.5m for the SPP-built vessel according to brokers, substantially less than the $19.5m fair market value placed on the vessel by MSI.

Trade Fortune is a low key outfit, controlled by the Tattos and Sigalas families. It currently owns four supramaxes according to VesselsValue, the last vessel added to its fleet being the 2010-built Agia Filothei via a bank sale in December 2016.

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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