New venture, Capital Axis Maritime, will initially manage fleet of 20 bulkers including seven new capesizes for delivery in 2027
Capital Axis Maritime will have a fleet of 20 bulkers chipped in by both partners with the majority appearing to come from the Marinakis-controlled fleet.
EVANGELOS Marinakis-led Capital Group and fellow Greece-based owner Nicholas Madias have launched what they are calling a “strategic co-operation” focused on increasing the partners’ potential in dry bulk shipping.
The move sees Capital-Executive Ship Management partner with Madias-led SPV Axis Maritime to launch a new venture, Capital Axis Maritime, focused on commercially and technically managing bulkers.
Initially, the company will cater to a fleet of 20 bulkers chipped in by both partners.
The majority appear to come from the Marinakis-controlled fleet as the existing Capital-Executive website, which is likely to be superseded by a new Capital Axis site, still lists 10 bulkers on the water, including two newcastlemaxes, three capesizes and five kamsarmaxes.
In addition, the Capital Axis fleet will include seven capesize newbuildings that have also been linked to the Marinakis group.
As recently as November, Capital had three capesizes on order at Hengli Heavy in China and there have been even more recent reports of a year-end spree including a further four capesizes at the same yard, all for delivery in 2027, although this has not yet been independently confirmed.
Until last year, Capital-Executive was the group’s management arm for containerships as well as bulkers, but a separate company, Capital Containers Ship Management, has been created for the fleet of more than 50 boxships on the water and under construction.
“We are confident that this synergy will create long-term value for its stakeholders through both cost savings and revenue growth,” said Madias, who is taking on the role of president and chief executive of Capital Axis.
SPV Axis offered “deep expertise in the dry sector, built over 25 years of experience in ownership and hands-on management”, he said.
By combining this with Capital-Executive’s strength, the partners were “optimistic that this collaboration will unlock significant potential.”
The new company aimed to “set new standards” in the sector, focusing on operational excellence and sustainability, they said.
