Photo credit: European Maritime Finance

Denmark´s finance firm European Maritime Finance and Greece´s Atlas Maritime have announced the sale of two Eco type aframax tankers for a record $155 million dollars ($77.5 million each).

The Delaware Star and the Galveston Star are two of five original aframax new buildings, ordered from DH Shipbuilding. The two Eco type ships are of 115,100 deadweight and both built in 2023. The two vessels are due to be delivered in the next few weeks. Atlas Maritime lead the initiative together with European Maritime Finance, a corporate finance company founded in 2014, which established its headquarters in Copenhagen due to its ever-growing Scandinavian client base.

“These investments will provide a successful return for our customers and continue to build our long term reputation. We are proud of our long-standing partnership with Atlas Maritime,” Martin Haugaard, CEO of European Maritime Finance highlighted.

Leon Patitsas, founder and Chief Executive officer of Atlas Maritime, a very well-known businessman in Greece with a strong record of over $1 billion in total transactions of acquisitions and sales throughout his career, said “The best returns in shipping require a counter-cyclical approach and an early mover advantage, both on the way in and on the way out. What today gets reported as a super lucrative deal, was actually inked amid the deepest coronavirus gloom.”

As he pointed out they continuously monitor the markets, study the fundamentals, and strive to identify the next undervalued sector. “We are not afraid to make bold moves provided we are not taking uncalculated risks,” as he noted.

Mr. Patitsas said the company remains committed to expand its partnership with European Maritime Finance through more lucrative deals in the near future.

“We have successfully navigated the shipping cycles during the last 20 years and built an exceptional track record of booking solid returns for the investors. We are content with what we have achieved so far, excited about what the future holds for further investment opportunities, and more importantly, confident about our capability to turn these into another success story for Atlas Maritime and our partners.” Leon Patitsas, CEO of Atlas Maritime said.

European Maritime Finance, Atlas Maritime and DH Shipping have a dynamic partnership, delivering innovation on time.

From his side Stephen Schueler, Chairman of European Maritime mentioned that “The two vessels are equipped with the most fuel efficient engines (Super eco) and sustainable, which helps lead the industry environmental transition. EMF and Atlas Maritime have a strong track record leading the maritime industry transition to greener and cleaner fuel.”