Time runs out for Chronos as a shipowner with sale of last kamsarmax

More than 50 years in shipping is ending as Greek kamsarmax specialist Chronos Shipping is letting go of its last ship, the 2012 built, 81,000 dwt Patra, built at  Japan Marine United. The bulker is noted to have been sold by several brokers who tie a price tag of just under $16m to the deal.

Last week, the Greek owner reportedly sold three Japanese-built eco kamsarmaxes to compatriot owners paying generously for Japanese-built eco kamsarmax tonnage, ships still in demand, despite uncertainty in the spot market. 

The Chronos fleet has been sold piece by piece, with brokers reporting that a trio in the 10-year-old age bracket was sold last week. Two Sanoyas-built units were sold.

The 2015-built  82,000 dwt Athina 11 and the one year older, Volos, sold for $25m and $24m each, respectively while the Japan Marine United-built Kleisoura was noted sold for $28m. Several Greek accounts have been tied to theships including Sealestial, Sea Tribute, Polforce, and Brave Maritime. 

Piraeus-based Chronos was founded in 1972, originally making a name for itself in the asphalt transport business, before moving into dry bulk in 2012.