Foreign media reports indicate that Leon Shipping & Trading, a shipping company owned by Greek shipowner Panos Efthimiadis, has placed an order with Hengli Heavy Industries for one 82,000 DWT Kamsarmax bulk carrier. This marks the shipowner’s entry into the dry bulk shipping sector; the contract value and delivery schedule have not been disclosed.
Separately, according to market reports, Leon Shipping & Trading is ordering two LR product tankers; the shipyard, delivery schedule, and construction cost have not been disclosed. At the same time, the company has placed an order with COSCO Shipping Heavy Industry (Guangdong) for two 50,000 DWT MR-class product tankers, with hull numbers 1350 and 1351, scheduled for delivery in March and August 2029, respectively. The market estimates the cost per vessel at approximately $53 million.
This fleet expansion coincides with a restructuring of Leon Shipping & Trading’s existing tanker fleet. According to shipbroking sources, the company has sold its 2008-built, 50,000 dwt MR product tanker Leon Wisdom to Union Maritime for $26 million, while its sister ship, Leon Grace (since renamed Bella Sky), has been sold to a buyer in the UAE for $23.5 million.
Earlier this year, Leon Shipping & Trading purchased the “Leon Wisdom” and the “Leon Grace” from International Seaways for a total of US$32 million. Based on the aforementioned selling price, this transfer will generate a premium income of approximately US$17.5 million before deducting transaction and other expenses.
Records indicate that Leon Shipping & Trading, headquartered in Athens, was founded in 2010. Previously, its business focused primarily on the tanker sector, with a fleet comprising MR product tankers and older Panamax tankers. This order placed with Hengli Heavy Industries marks the company’s first investment in a dry bulk fleet, adding a new dimension to its fleet renewal and expansion plans.