Latsis' new dry bulk trading platform Marla hits fleet milestone

Marla Trading’s long-term period fleet has reached a milestone of 10 vessels, surpassing 5.5M tonnes in cargo volume.

Until now, Marla Trading was the least-known shipping entity within the Latsis Group. Founded in 2022 and based in Dubai, the company has built a modern fleet with an average vessel age of around five years.

Prominent Greek shipowners, including John Mytilineos-led M/Maritime Corp, Costas Delaportas-run DryDel Shipping and Tri Bulk Shipping, have entrusted some of their modern bulk carriers to Marla Trading. The fleet comprises vessels ranging from Handysize to Ultramax bulk carriers.

Marla Trading is responsible for key operational and corporate activities, including chartering, operations, risk management, research, bunker procurement and accounting.

Vassilis Xanthis serves as the head of dry cargo, while Pantelis Mytilineos is the deputy head, as noted on the company’s website. Both previously worked at Switzerland-based Cofco International, the trading arm of the Chinese food giant Cofco Corp, according to their Linkedin profiles.

Latsco profile

The Latsis family is a traditional player in Greek shipping, having expanded across all major shipping segments in recent years. Currently, Latsco operates a fleet of 36 vessels, primarily tankers and LPG carriers, with a significant presence in bulk carriers, LNG carriers and container vessels. Additionally, Latsco is undertaking a large newbuilding programme for very large gas carriers, Aframax/LR2 tankers and Ultramax bulk carriers.

Latsco Shipping was established in the 1940s when Captain John S Latsis first ventured into passenger and commercial deepsea shipping. Over the years, the group has operated a fleet of more than 100 vessels.

Recently, Latsco signed a co-operation agreement with MAN PrimeServ, the after-sales division of MAN Energy Solutions. The partnership will focus on exchanging data and knowledge regarding engine operations, performance and maintenance, while also developing and testing various digital products.

Costamare Bulkers

Latsco Shipping is not the only prominent Greek shipowner launching a specialised vehicle in the dry bulk market. Konstantinos Konstantakopoulos-led Costamare established Costamare Bulkers (CBI) in 2022. This dry bulk operating platform charters in and out bulk carriers and participates in forward freight agreement contracts. CBI has currently secured 54 bulk carriers on period charters.