Greek and Turkish owners snap up d’Amico, Ciner Handysize bulk carriers

Greece’s Vita Management has emerged as the new owner of Cielo Dei Maronti, a 37,133-dwt Handysize bulk carrier built in 2017 and previously owned by Italy’s d’Amico Dry. The vessel reportedly changed hands in mid-March for around US$21M and has since been renamed Vita Athina.

According to Equasis, Vita Management now operates a fleet of seven bulk carriers, with an average age of approximately 10 years. Vita Athina marks the company’s first Handysize vessel, joining a fleet that previously consisted of Kamsarmax and Ultramax ships.

In a separate, all-Turkish transaction, Negmar Denizcilik acquired 35,138-dwt, 2013-built Handysize vessel Orhan from fellow Turkish owner Ciner Shipping. The vessel has been renamed Negmar Meko. Shipbrokers reported in March that Ciner sold Orhan along with two similar vessels, Erhan and Nedim, in an en bloc deal to undisclosed Turkish buyers for a total of US$45M. However, the latter two ships have yet to be renamed.

Ciner Shipping – having recently relocated its management operations to Greece – and Negmar have been approached for comment on the reported transaction. 

Fleet and market trends

According to Xclusiv Shipbrokers, Handysize bulk carriers led sale and purchase activity in the dry bulk sector during the first quarter of the year. Analysts recorded 50 transactions, a slight decrease from 52 during the same period in 2024.

Data from Allied Shipbroking shows Greek and Turkish owners remain among the most active buyers in the dry bulk segment, accounting for 86 and 26 vessel acquisitions, respectively, over the past 12 months. Notable Greek buyers include Brave Maritime (led by the Vafias family), Load Line Marine and Seaspire Maritime, all of whom have completed Handysize deals this year.

Vessel values in the Handysize sector have seen modest gains in recent months following prior corrections. According to Veson Nautical’s latest monthly report, vessel prices across all age groups increased by 1.5% to 6.5% in April compared to March. Allied Shipbroking further notes prices for 10- to 15-year-old vessels have increased by as much as 9% over the past three months.