Greek owner Iolcos tipped as buyer of TMT bulker

Petrakis-backed Iolcos Hellenic is believed to have bought the 84,100-dwt A Max (built 2011) at auction this week.

Broking sources tell TradeWinds that the Greek owner has invested around $16.5m in the Hyundai Samho-built vessel. Attempts to reach executives at Iolcos for comment were unsuccessful at the time of writing.

The A Max was one of two panamaxes in the then 31-strong fleet of TMT when more than half of the single-ship companies controlling its vessels sought Chapter 11 protection in the US during the summer of 2013.