Hayfin builds on Capesize strategy with new fleet addition

The London-headquartered alternative asset manager has emerged as the new owner of 2011-built, 182,300-dwt Thalassini Agatha, which has recently been renamed GH Papagayo. According to Equasis, the vessel is now listed under Greenheart Shipping, Hayfin’s inhouse shipmanagement platform.

Shipbrokers reported earlier this year that the Japanese-built vessel was sold for approximately US$29.0M. Thalassini Agatha was previously owned by Enesel, led by Andonis and Filippos Lemos. Riviera reported in early June that Enesel’s similarly aged Capesize, Thalassini Avra, was acquired by Agricore and is now sailing under the name ASL Classic 1.

For comparison, another 2011-built Japanese Capesize vessel was sold in the past two weeks for around US$26.5M, suggesting values are softening slightly. According to Xclusiv Shipbrokers, a 15-year-old Capesize is currently valued in that range.

“Overall Capesize values are holding, but there’s definitely been some easing at the edges,” Allied Shipbroking noted in a recent weekly report.

Significant fleet growth

GH Papagayo is the third Capesize to join Greenheart Shipping’s fleet this year. In Q1 2025, the company took delivery of Nord Energy and Nord Power – both built in 2012 – which now operate under the names GH Alize and GH Callas, respectively.

Hayfin has a well-established track record in maritime investments, with more than US$4Bn committed across dry bulk, tankers, container vessels, LPG and LNG carriers. The fund’s maritime strategy is led by Andreas Povlsen.

Data from shipbuilding platforms also show Hayfin has been active on the newbuilding front in recent years, placing orders for tankers and bulk carriers at shipyards in South Korea and Japan.