5 Ocean Shipping was co-founded by Mr Panagos C Lemos & Mr Loukas D Spiliotopoulos.
For the purpose of acquiring and commercially managing (including P&I, accounting, post fixture operations) second hand dry bulk vessels.
5 Ocean Shipping has always acquired and commercially managed freshly DD/SS passed 2nd hand well maintained Supramax vessels and will continue to target similar positioned vessels to acquire and to co-invest in.
5 Ocean Shipping targets vessels which Commercially offer an uninterrupted Chartering period of 2-3 years (before their next DD/SS), thus of higher commercial value to Class A Charterers with Longer TC appetite.
Hence, derisking cash flow visibility and commercially maximizing returns to stakeholders.
1st Supramax acquired in 2022, Time Chartered for 11-13 Months at a daily rate of $26,000 – naming it the deal of the year in Norway based on forecasted IRR.
2nd Supramax acquired in 2023, Time Chartered for 5 to 7 months at a daily rate of $14,250.
To date, have delivered double digit IRRs to shareholders and continue to do so.
Our investors thus far, include Banks, Private Equity Funds, and High Net Worth Individuals from Europe, USA, Norway & Switzerland.
Long term Equity investors with appetite to invest in 2nd hand Dry Bulk vessels alongside 5 Ocean Shipping with an asset opportunistic approach.