Shipping sources say Nakhleh is the new managing director of Athens-based TEO Shipping Corp, which is part of the Theocharakis Group of companies.

Former DryShips chief financial officer Nakhleh confirmed the appointment when contacted by TradeWinds. He says he has arrived at a time when the company is looking to increase its owned and managed fleets.

He says the plan is to do this either alone or alongside “strategic equity investors”.

TEO