Greek LPG player Seahawk Gas adds another vessel to growing fleet

The Michalis Kourtesis-led company has purchased 2009-built, 20,550-m³ LPG carrier Navigator Gemini. According to shipbroker reports, the deal was concluded at just under US$32M.

This marks Seahawk Gas’ fourth LPG carrier, joining 2009-built Gas Melody, 2013-built Verrazane, and 2014-built Surville. In addition to its secondhand acquisitions, the company has a newbuilding programme underway in Japan for two 11,000-m³ LPG carriers, scheduled for delivery by 2028.

Seahawk Maritime entered the LPG segment in 2023, citing the sector’s “conservative” dynamics, relative stability and long-term growth prospects in the LPG and ammonia trades as key drivers behind its diversification strategy. The company reports it has invested over US$150M in asset values to build its fleet.

For over two decades, the Kourtesis family operated in the dry bulk sector before divesting its fleet in 2021 and shifting focus. In the same year, the group diversified into the product tanker market, acquiring three vessels. According to the company’s website, Seahawk Maritime now oversees a fleet of two product tankers.

Outlining its approach, Seahawk Maritime states, “We invest capital in vessels that secure rapid acquisition permits, significantly reducing execution time and investment risks.”

Navigator Gemini was not the only LPG carrier featured in last week’s shipbroker reports. Another vessel – a 5,072-m³ unit built in 2011 – was also reportedly sold, with Greece-based interests understood to be behind the acquisition.