Celebrating 50 years of intense activity and dynamic evolution in shipping, Nikos Vafias, who was awarded by Lloyd's List for his long career in shipping, is one breath away from entering the exclusive 100-year club where the very few who have a fleet of more than 100 ships with ship acquisitions close to $1 billion.
According to shipping sources, it has reportedly gone ahead with five more purchases of their vessels in the past two months bringing the total acquisitions through Brave Maritime Corp to a total of 28.
More specifically, the Greek shipowner bought, after very intense competition, four more capes which were never openly on the market and were bought silently 'under the radar', raising the group's fleet of capes to 10 in total. Two of them have been built by BRAVE while the other 8 have been bought as secondhand mostly from C.T.M in Monaco!
In addition, it also bought a supramax cargo ship, built in 2011 in Mitsui, Japan from a series that the group had left since 2009. This is the 29th ship in total acquired in the last 12 months by Nikos Vafias in a crescendo of investments amounting to 900 million dollars that impresses the international shipping community for its speed of responsiveness and momentum.
With these purchases Brave Maritime Corp has acquired within just 12 months fifteen vessels (almost all cape size), five newly built MGCs from HYUNDAI in Korea and nine tankers of which three are Medium Range clean Tankers, one Aframax and four Suezmaxes .
Loan obligations and twelve-month results
Based on the announcements of the listed companies of the group, Imperial Petroleum has no loans, the same is now true for the private companies Brave Maritime and Stealth Maritime, while StealthGas has borrowings below 25%!
The two listed based on their 2022 results had a total revenue close to 300 million dollars and profits close to 70 million for 2022!
All 29 vessels belong to the private arm of the Vafias Group, which includes the two shipping companies listed on the US stock market, StealthGas Inc. GASS (since 2005), which announced its best results in ten years.
Imperial Petroleum Inc IMPP (since 2021) announced a 15,400% increase in earnings!!! and two private companies Brave Maritime corp inc (since 1972) and Stealth Maritime corp SA (since 1999).
After the new purchases, the Group's fleet consists of 95 vessels (40 gas carriers, 30 tankers and 25 cargo vessels), worth, based on the Vessels Value, more than 2.8 billion dollars.
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