Atlantis Acquires Tanker Duo

Turkish shipping company Atlantis Tankers bought Ionian Trader and Lydian Trader, two small-sized chemical tankers, from the Greek-based Enterprises Shipping and Trading on December 23, 2016. 

Ionian Trader was purchased for USD 7.19 million and Lydian Trader for USD 7.1 million, VesselsValue’s data shows.

The handover of the vessels is expected to take place in the next 45 days and the tankers will be renamed to Atlantis Arki and Atlantis Araceli, according to the company.

The duo will be taken under the technical and crewing management of Armona Denizcilik, and will be commercially managed by Atlantis Tankers.

The 5,500 dwt ships were built by Turkish KGS in 2008, a joint venture (JV) between Ares Tankers and Galatasaray Holding at Celik Tekne Shipyard. The JV intended to sell all of six sister ships to another 50-50 JV between Norwegian ship owner Mowinckels Rederi and Turkish ship manager Ares.

“After delivering the first four vessels: Lycian, Ionian, Lydian and Hada, Mowinckels’ appetite for the remaining two became obsolete due to the Lehmann-crisis. Thus the fifth and sixth ship remained with KGS and are managed by Ares Tankers Management as RC Behar and Hitra,” Atlantis Tankers said.

The four joint venture ships were financed by a consortium of Nordea and Deutsche Bank. However, the JV ran into financial problems which brought the Norwegian/Turkish partnership to separate, leaving the ships with Mowinckels. The lenders sought new buyers and sold all four vessels in 2012.

The first tanker duo was sold to Borealis Maritime, while the other two vessels, Lydian and Ionian, were sold to Restis’ company: Enterprises Shipping and Trading.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >