Velos Shipping has expanded its tanker operations by purchasing a secondhand chemical carrier from Easterly Asset Management’s Maritime Logistics Equity Partners (MLEP), now known as Easterly Clear Ocean, according to the company's release.
Velos Tankers acquired the 2010-built 36,700 deadweight ton (dwt) MR1 Easterly Sirius for approximately $15.5 million, renaming it Velos Rubini.
The vessel, constructed by Hyundai Mipo Dockyard in South Korea, joins Velos Tankers’ fleet, bringing its total to nine tankers. The company, led by Paschalis Diamantides, plans a special survey and dry-docking for Velos Rubini this year, according to industry sources.
Velos Dry, Velos Shipping’s bulk carrier division established in 2022, operates four bulkers, reflecting the company’s diversified maritime strategy. Easterly Clear Ocean, previously MLEP, sold the vessel as part of its strategy to optimize returns in the chemical tanker market.
The transaction follows Easterly’s recent sales, including the one-year-older sister vessel Easterly Canyon, sold to undisclosed Greek interests for around $16 million, and three other chemical tankers in September 2024 for undisclosed sums, as reported by Seatrade Maritime.
Easterly Clear Ocean’s remaining fleet includes 10 vessels, comprising 19,000 dwt stainless-coated and 36,000 dwt epoxy-coated ships.
The $15.5 million price for Velos Rubini reflects current market trends, where MR1 chemical carriers aged 10-15 years command premiums due to limited newbuild orders.
Easterly Clear Ocean’s investment approach, launched in 2021, has delivered a 2.73x return on its initial $138.3 million investment in 11 vessels, now valued at $217.5 million, as stated by Easterly in September 2024.
Velos Shipping is a Greek shipping company, led by Paschalis Diamantides, specializing in tanker and bulker operations, with Velos Tankers operating nine tankers and Velos Dry managing four bulkers since its establishment in 2022.
Easterly Asset Management is a U.S.-based investment management firm, founded in 2019 and headquartered in Beverly, Massachusetts, providing alternative investment solutions, including through its Maritime Logistics Equity Partners (now Easterly Clear Ocean).