The ultimate interest in the maltese-flag Ariana IMO 8014150 has been in liquidation since 2008 due the subprime mortgage crisis, but the Logothetis family of Greece has picked up this fleet for a song -$325 million, thus making a release more likely.
The Logothetis family of Greece has re-entered the shipping sector with a big splash as Lomar Corporation announced a $325m purchase of the UK based Allocean fleet.
According to the announcement, the $325m deal involves the purchase of the shares of Allocean Ltd and the Allocean Charters group of companies, both subsidiaries of Allco Finance Group, which entered administration and receivership in November last year.
Lomar, a subsidiary of the Libra Group, announced the acquisition of 26 modern ships today belonging to Allocean, ending days of speculation over the sale of the ships.
The fleet comprises of bulk carriers, container ships, liquid petroleum gas (LPG) tankers, platform supply vessels (PSV), anchor handling tug supply vessels (AHTS), a chemical tanker and a products tanker.
The acquisition brings Lomar’s total fleet size to 32 owned and managed vessels including three newbuildings currently on order. The purchase of Allocean represents a major re-entry into ship ownership for Lomar following its sale of 67 ships from 2004-2006.
According to the announcement, the $325m deal involves the purchase of the shares of Allocean Ltd and the Allocean Charters group of companies, both subsidiaries of Allco Finance Group, which entered administration and receivership in November last year.
Alloceans Shipping Company Ltd (Greece)
ALLOCEAN SHIPPING (UK) LIMITED
Allco Finance Ltd.
Allco Finance Group Limited
Shipping - Allco own or manage 38 shipping vessels with another 23 on order.
Allco is now in liquidation, after previously being in administrative receivership, following difficulties in refinancing debt and a share price fall of 99% since the beginning of the subprime mortgage crisis.
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