Thenamaris back in bulker S&P business, adds modern Kamsarmax

The prominent Greek owner has taken over the 2014-built, 81,944-dwt Ellina, formerly known as Nord Capella. The price remains undisclosed, as the deal for the Japanese-built vessel was largely unreported by shipbrokers. Market estimates place a 10-year-old bulk carrier of this size at around US$24–25.5M.

Thenamaris wasted no time renaming the ship Ellina, replacing its 2008-built namesake, which was sold earlier this year and now trades as Mandy Morn.

The company has been active in reshaping its fleet by offloading older assets in both the tanker and bulk carrier sectors and replacing them with either newbuildings or modern second-hand tonnage. In a high-profile move last year, Thenamaris added four Newcastlemax bulk carriers built between 2020 and 2021.

Today, the Greek owner operates a fleet of 92 vessels, made up of 52 tankers, 24 bulk carriers, eight LNG carriers, six LPG carriers, and two container ships. The company recently wrapped up a significant newbuilding programme across South Korean and Chinese yards, covering both tankers and bulkers.

Greeks active in Kamsarmax market

Thenamaris is not alone in pursuing modern Kamsarmaxes. Other Greek owners have also been active in the segment, with Vita Management recently acquiring a 2018-built unit and Mantinia Shipping taking on 2012-built Pallada (ex-White Whale).

According to Allied Shipbroking, 129 Panamaxes/Kamsarmaxes with an average age of 15 years changed hands by the end of September, compared with 143 transactions recorded in the whole of 2024.