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Lomar News

14 Mar 2024

Seapath Launches Jones Act Leasing Business

(Photo: The Libra Group)

Libra Group subsidiary Seapath has launched a Jones Act leasing business offering maritime leasing and financing solutions and a growing portfolio of vessels valued at approximately $25 million.The group said it sees significant unmet demand for the supply of Jones Act compliant transport assets.Joshua Lubarsky, president of Seapath, said, “Domestic maritime transportation is the backbone of the U.S. transportation system. By launching our new Jones Act leasing business, Seapath…

05 Sep 2023

Lomar Shipping Promotes Two Executives

From left: Peter Cotopoulis and Mark Kethisouaran (Photo: Lomar Shipping)

Lomar Shipping, the maritime subsidiary of Libra Group, has announced two key promotions - Peter Cotopoulis as its new Chief Operating Officer (COO) and Mark Kethisouaran as Chief Financial Officer (CFO), both effective from September 1. Based in the company’s London office, Mark succeeds Dennis Psachos, who held the role since joining in December 2021 and has decided to return to his native Greece.Lomar CEO Nicholas Georgiou said, “Over the last 12 months, Peter and Mark have both stepped up in their roles…

08 May 2023

Lomar Shipping Buys Three Bulk Carriers

(Photo: Lomar Shipping)

U.K.-based shipowner Lomar Shipping announced it has acquired three Supramax bulk carriers as part of its ongoing bulker fleet expansion program.The company, a subsidiary of New York-based Libra Group, said it has taken delivery of the 57,038-dwt Oslo Trader (ex Ariadne, built in 2010), while the 2012-built 56,702-dwt Lima Trader (ex Universal Bangkok) and 57,075-dwt Rome Trader (ex Haut Brion), built in 2011, will be delivered later this month.All three Dolphin 57 vessels are Chinese-built, increasing Lomar's bulk carrier fleet to nine ships.

04 Apr 2023

Lomar Shipping Names Bujor Technical Director

Marius Bujor (Photo: Lomar Shipping)

Libra Group's shipping subsidiary Lomar Shipping announced the appointment of Marius Bujor as its new Technical Director. Based in the company’s Bremen office, he succeeds Stylianos Papageorgiou who has been promoted to the position of Managing Director of lomarlabs, a new venture to collaborate with deep-tech start-ups.Bujor has been with Lomar for eight years, having joined in 2014 as a Technical Superintendent. He became a Fleet Manager four years later, and was promoted to Deputy Technical Director in late 2022, as Lomar prepared for the launch of lomarlabs.

09 Mar 2023

Navigator Line Buys Chemical Tanker from Lomar

Apollo (Photo: Lomar Shipping)

Libra's global ship owning and management unit Lomar Shipping last week delivered the chemical tanker Apollo to new owner Navigator Line Ship Management and Operation, in Sharjah, UAE.Built in 2003, the 24,000 DWT vessel was sold for close to $10 million as part of Lomar's ongoing fleet renewal program, the company said.The vessel was the oldest of six chemical tankers, including four 38,000-dwt chemical/products tankers, that joined the Lomar fleet following the October 2022 acquisition of Germany’s Bremen-based tanker specialist Carl Büttner Group…

03 Oct 2022

Libra's Lomar Acquires German Tanker Firm Carl Büttner

A subsidiary of global private business group Libra has acquired German tanker company Carl Büttner Holding (CB) for close to $160 million, the unit said on Monday in its latest expansion into shipping.Lomar - Libra's global ship owning and management unit, which has around 50 ships in its fleet including container ships and dry bulk vessels - has completed the acquisition of CB, which has a fleet of chemical and oil products tankers.CB would "benefit from the strength of Libra Group’s network around the world", Libra's executive chairman George Logothetis said."This is an exciting time for Lomar, and we look forward to many innovative and future-thinking announcements to come."Lomar was part of one of the consortiums that bid for the Israeli port of Haifa…

21 Jun 2022

Americraft Marine Acquires St. Johns Ship Building

(Photo: St. Johns Ship Building)

Americraft Marine, a maritime subsidiary of the Libra Group, announced it has acquired U.S. shipyard St. Johns Ship Building.Based in Palatka, Fla., near Jacksonville, St. Johns Ship Building performs new construction and repair of a wide variety of steel and aluminum vessels, including ferries, tugs, deck and tank barges, landing crafts, and general cargo vessels. It is also one several U.S. shipyards currently building vessels that support and service offshore wind farms.With facilities including a storm-protected 100-acre inland campus with a 850-ton floating drydock, St.

09 Aug 2021

Haifa Port Sale Expected to Fetch $600m or More, Bidders Line Up

© Rostislav Ageev/AdobeStock

Four investment groups are looking to acquire the Israeli port of Haifa estimated to be valued as high as $600 million with formal bids expected towards October, sources with knowledge of the matter said.Israel is selling its state-owned ports and building new private docks in an effort to encourage competition and bring down costs. At the same time, warming ties with neighboring Arab countries are creating new trade opportunities and Haifa is well placed to become a regional…

26 Oct 2020

Lomar Promotes Georgiou to CEO

Nicholas Georgiou

Nicholas Georgiou has been promoted to Chief Executive Officer of ship owning and management business Lomar, its parent company the Libra Group announced. Georgiou has been Lomar’s Chief Operating Officer since 2010 and succeeds Achim Boehme, who passed away from cancer in July.George Logothetis, Chairman and CEO of the Libra Group, says, “This announcement has long been in our succession planning, with Achim due to have become Chairman of Lomar. Achim’s tragic passing left us with a huge void but also a tremendous legacy…

02 Oct 2019

1st Ship Dry Docks at Grand Bahama After Major Hurricane

Freeport-based Grand Bahama Shipyard announced that it drydocked its first vessel since reopening the shipyard after Hurricane Dorian hit The Bahamas.The Taipei Trader, a 9,932-ton container ship operated by Lomar Shipping Limited, docked at the No. 3 dock this week, for its ongoing drydock, which was interrupted by the hurricane.Taipei Trader first docked at the yard on August 25 for a routine program including propulsion and thruster maintenance, and preparation of the hull for protective coating application. On August 30, in accordance with the shipyard's hurricane procedures, the vessel had to be undocked and depart the shipyard due to the projected path of Hurricane Dorian.Following the return and docking of Taipei Trader…

30 Oct 2018

Thordon Advises on VGP Delay

Photo: Thordon Bearings

Thordon Bearings has advised its customers with newbuilds under construction to make sure they have the necessary documentation in place permitting operations in U.S. waters prior to 18th December 2018.The advice follows the October 10 announcement by the U.S. Environmental Protection Agency that the 2013 Vessel General Permit, due to expire in December 2018, will now be administratively continued till at least March 2019, when an updated version, VGP 3.0, will be introduced.“The delay in introducing VGP 3.0 means that operators of existing vessels looking to operate in U.S.

29 Aug 2018

Lomar's Super-Eco Boxships Mark Breakthrough for Thordon Bearings

Photo: Thordon Bearings

Delaware Trader, the first of two 2,700TEU newbuild containerships that China’s Guangzhou Wenchong Shipyard is delivering to Lomar Shipping this year, has been fitted with a seawater lubricated propeller shaft bearing system from Thordon Bearings.The vessel represents another breakthrough for Thordon Bearings’ COMPAC seawater lubricated propeller shaft bearing system in the European-owned containership segment.London-headquartered Lomar Shipping, a privately-owned ship owning and management company…

27 Feb 2018

Log-In Logística selects COMPAC

The containership segment’s commitment to ocean sustainability has been underscored with another order for Thordon Bearings’ COMPAC water lubricated propeller shaft bearing concept. The decision by Brazil-based cabotage carrier Log-In Logística to select the Thordon solution for a 2700TEU newbuild Log-In Polaris, is indicative of a trend in the sector for mitigating against the risk of oil pollution by adopting the simpler, environmentally-safer water-lubricated propel shaft concept. Extensive in scope, Thordon will supply a complete COMPAC water lubricated propeller shaft system that entails: fwd and aft COMPAC bearings, its proprietary water quality package (WQP)…

02 Aug 2017

Fuel Removal from Grounded Kea Trader in Progress

Three weeks after the grounding of Kea Trader on a reef off New Caledonia, the removal of heavy fuel oil from the 2017-built containership is now underway and could be completed next week. According to Radio New Zealand, helicopters are being used to remove fuel from a ship stuck on a reef off New Caledonia. Oil is being moved from the vessel in tanks onto the nearby Chasseloup barge, London-based Lomar Shipping, the ship’s owner, informed. "The swells reportedly prevented the salvage teams to dock a barge next to the stricken ship as they plan to pump out the 750000 litres of fuel in its tanks. Due to the adverse sea conditions have made it impossible to extract the fuel direct to barges, hence helicopters are being used to shift the fuel," said the report.

02 Mar 2015

Lomar Adds Seven Container Ships to its Fleet

Lomar Corporation, a Libra Group company, has again added to its fleet of container ships with the purchase of three vessels plus an order for up to four new buildings from the Yangzijiang Shipyard, says a company press release. The new vessels are the latest ‘widebeam’ specification with a nominal intake of 2,700 TEU and are designed by the Marine Design & Research Institute of China (MARIC). They will feature the very latest eco-fuel-efficient ‘GType’ engines which meet current emissions regulations. These ships are notable for having a very high reefer intake (600 FEU) and a higher than normal homogeneous intake of 2,300 TEU at 14 tonnes. Furthermore, the reduced overall length of the vessels makes them ideal for ports with an LOA restriction.

11 Dec 2014

Libra Ramps Up Container Ship Buying, Bets on Upturn

Global conglomerate Libra is snapping up container ships, betting on a sector recovery and lower oil prices which will cut costs and boost profitability, the group's chief executive said. Libra has proved adept at buying and selling assets since 2008 -- making significant returns on investments. Shipping is battling overcapacity, linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009, forcing operators to look for ways to overcome one of the worst slumps on record. Leading container groups including Maersk are replacing older and smaller vessels with fewer but larger mega-ships to command better economies of scale.

10 Mar 2014

China Shipyards Benefit from Lomar Fleet Expansion

Image courtesy of Lomar

Lomar informs it has declared a further three options to build new container vessels at Chinese shipyards, which brings the total number of newbuilding orders in hand to over 20 ships. The company has declared its final two options in a total order for six 1,100 TEU container vessels from the Yangzijiang shipyard. They are designed by leading Chinese design institute SDARI (Shanghai Merchant Ship Design and Research Institute) and have much improved fuel consumption and the ability to carry up to 220 reefer containers.

07 Nov 2013

Shipowners Think Big in Latest Newbuilding Orders

Ship's bow Image CCL

Ship owners trend towards larger ship sizes in the latest round of newbuilding orders reported in Clarkson Hellas S&P Weekly Bulletin. Oldendorff Carriers has contracted for four firm plus up to four option 208,000 dwt Newcastlemax from Taizhou CATIC. The first two vessels are due for delivery in 2015 with the remaining firm vessels and options lined up for delivery in 2016. Also in China, SWS are understood to have taken an order for four firm 208,000 dwt Kamsarmax from Clients of Cardiff Marine. Similarly delivery of the firm vessels is split between 2015 and 2016.

10 Sep 2013

Latest Global Shipbuilding Orders

Rizhao Steel (Cara Shipping) are understood by Clarkson Hellas to have contracted two firm 180,000 DWT Capesize at both Dalian and Qingdao Beihai, with an additional two options at the latter. These orders are understood to have been concluded in the middle of this year, with delivery of the first vessel from Beihai lined up for 2015 and the remainder all due in 2016. Following a limited number of new orders so far this year, the VLCC orderbook, which currently stands at around 50 vessels, has seen the addition of two firm plus two option 300,000 DWT crude tankers from Metrostar at HHI. Although pricing remains undisclosed delivery of both firm vessels is planned for the first half of 2016.