Shipping investor Alpha Omega looks to score on asset play, eyes robust orderbook

The company has committed to sell 2017-built, 60,492-dwt Ultramax Only You for approximately US$28.5M. Alpha Omega acquired the vessel – then named IVS Swinley Forest – for about US$23M before it joined the fleet in September. 

Alpha Omega managing partner Thanos Pasialis told Riviera that, upon completion, the transaction will represent a notable asset play, delivering a return on investment of approximately 65% to its investors.

Mr Pasialis added that the company remains constructive on the dry bulk sector.

“The fundamentals continue to support a strong market environment over the next couple of years, driven by resilient demand, extended sailing distances and disciplined fleet growth,” he explained.

However, Mr Pasialis cautioned that some near-term volatility is expected, with periodic spikes and corrections in rates and asset values as the market digests seasonal patterns and shifting cargo flows.

Focus on newbuildings

Following profitable transactions such as the pending sale of Only You, Alpha Omega is expected to intensify its focus on newbuilding investments.

“We’re focused on building a robust orderbook for the coming years to support the company’s sustained growth,” Mr Pasialis said.

“Transactions like this allow us to realise attractive asset gains while positioning the fleet optimally for the cycle ahead,” he added.

Alpha Omega is currently pursuing a newbuilding programme for four 40,000-dwt Handysize bulk carriers in partnership with Yangzijiang Maritime Development, with deliveries scheduled through 2028.

Yangzijiang Maritime is a spin-off from Yangzijiang Financial Holding Ltd, an Asia-based investment manager backed by Yangzijiang Shipbuilding, one of the world’s largest shipbuilders.

Following completion of the sale, Alpha Omega’s fleet will consist of two bulk carriers: a 2013-built Ultramax and a 2014-built Handysize.

Alpha Omega Marine was cofounded by Thanos Pasialis and Vasileios Pateras, a third-generation member of the Pateras shipping family. 

The company describes its investment strategy as targeting high-quality assets during specific market windows, “where we can secure competitive financing and revenue structures that derisk the investment without losing the upside potential of market spikes.”