Vafias Group: Investments of 140 million dollars


Over the past ten days, Vafias Group has carried out a barrage of investments in newly built and modern second-hand ships, continuing the expansion of the fleet.

According to shipping sources, Brave Maritime Corp. has spent about 140 million euros in four separate deals.

Initially, the shipping company agreed with a Japanese shipyard to build two ammonia carriers, each with a capacity of 11,000 cubic meters. The construction of each ship cost about 36 million dollars, while their delivery is expected until 2026.

Regarding the company’s moves in the secondary market, these include two agreements to acquire bulk carriers and one for tankers. In particular, Brave Maritime purchased the handysize truck “Takeshio” (capacity 38,494 dwt and built in 2012), at a cost of 15 million dollars. It also spent around 24 million dollars on the large capesize bulker ‘Suigo’ (174,802 dwt capacity and built in 2011).

In the tanker sector, the company bought the ice-class product tanker “Dominia” (capacity 40,174 dwt and built in 2009), for 27 million dollars. It is noted that Brave Maritime prevailed, finally, among numerous interested buyers, in an auction for the steamer that took place in Malta.

Newly acquired dry bulk carriers and tankers operate in the spot market. Following the new investments, Vafias Group’s total fleet size amounts to 92 vessels, with a total value of 2.8 billion dollars, according to the VesselsValue platform. A total of 42 of them are gas carriers, 25 tankers and 25 bulk carriers.



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