Capital-Executive Ship Management Corp. a provider of comprehensive ship management services across various vessel types, announced today that it has entered into a strategic cooperation agreement with SPV Axis Maritime Corp.
The new venture, Capital Axis Maritime Corp., will provide in-house commercial and technical management services to a fleet of twenty (20) dry bulk carriers, consisting of two (2) Newcastlemax, four (4) Capesize, and seven (7) Kamsarmax and Panamax vessels currently on the water, as well as seven (7) newbuilding Capesize bulk carriers scheduled for delivery in 2027. The fleet has a total carrying capacity of approximately 3.0 million deadweight tons and an average age of 8 years.
Mr. Nicholas E. Madias, on behalf of SPV Axis and in his capacity as President and Chief Executive Officer of Capital Axis Maritime Corp., commented:
“We are delighted to partner with a well-established and reputable organization like Capital-Executive Ship Management Corp. We are confident that this synergy will create long-term value for its stakeholders through both cost savings and revenue growth. By combining Capital-Executive Ship Management Corp. strengths with our deep expertise in the dry sector, built over 25 years of experience in ownership and hands-on management of dry bulk assets, we are optimistic that this collaboration will unlock significant potential.”