Greek owner Velos expands tanker and bulker fleet with triple acquisition

Velos Tankers has added its 10th and 11th – and youngest – vessels to the fleet, confirming the acquisition of 2011-built MR tankers Velos Polaris (ex-Elandra Baltic) and Velos Aurora (ex-Elandra Fjord).

Earlier this month, shipbroking sources reported that the pair had been sold en bloc to undisclosed Greek buyers for a combined US$49M. Following the latest addition, Velos Tankers now controls an 11-strong fleet built between 2007 and 2011.

MR tankers remain a primary target for Greek owners in the sale-and-purchase market. According to Allied Shipbroking, 27 MR tankers changed hands in January alone, with a total consideration exceeding US$530M. The segment ranked as the second-most active tanker class after VLCCs.

Dry bulk expansion

The group has also moved into the dry bulk market. Velos Dry acquired 2013-built, 95,707-dwt post-Panamax Illawarra Fortune, subsequently renamed Velos Polaris.

Notably, the transaction did not feature in the majority of broking reports covering recent sale-and-purchase activity.

Japanese-built post-Panamaxes of this type remain in demand among Greek buyers, with owners including Golden Union and Spring Marine associated with similar deals in recent months.

With the latest deal, Velos Dry’s fleet has expanded to six bulk carriers built between 2012 and 2015.

Founded in 2019 with a focus on the product tanker market, Velos entered the dry bulk segment three years later and has since pursued measured growth across both sectors.