London Greek owner Helikon Shipping puts three bulkers up for sale
Helikon Shipping Puts Three Supramax Vessels Up for Sale
Helikon Shipping Enterprises, a low-profile Greek shipping company based in London, has announced the sale of three supramax bulk carriers as part of its fleet-renewal strategy. The vessels include two of the company’s oldest ships, the Meteora and Lycavitos, along with the Mystras, which previously had a sale fall through late last year. Managing Director Michael Papaioannou confirmed the decision, expressing regret over the potential departure of these well-maintained vessels.
Details of the Vessels for Sale
The three vessels being offered for sale are the 57,359-dwt Mystras, built in 2013 at STX Dalian in China, and two Tess-58 supramaxes, the 58,740-dwt Meteora and the 58,786-dwt Lycavitos, both constructed in 2007 at Tsuneishi Cebu. The Meteora and Lycavitos have recently undergone extensive maintenance, spending 25 days in dry dock where their hatch covers were refreshed and new reconditioned grabs were installed. These upgrades ensure that the vessels are in excellent condition for prospective buyers.
Notably, the Mystras is equipped with an energy-saving Becker Mewis propeller duct, while the Meteora and Lycavitos feature graphene-coated propellers. All three ships are also fitted with ballast water treatment systems, enhancing their environmental compliance. The Mystras was previously reported to have been sold to Vietnam’s Vosco for $17.2 million, but that deal fell through due to extended port stays that prevented timely delivery. Currently, VesselsValue estimates the Mystras’ value at approximately $14.45 million, with the combined worth of the three vessels estimated at $36 million in today’s market.
Helikon’s Fleet Renewal Strategy
Helikon Shipping, controlled by the Papaioannou family, has been actively renewing its fleet. Earlier this year, the company took delivery of the 63,742-dwt ultramax Rodopi, built in 2025, along with two MR product tankers from Hyundai Vietnam Shipbuilding. A final ultramax is expected to be delivered in September from Tsuneishi Cebu, marking the completion of Helikon’s seven-vessel newbuilding program initiated in late 2020.
With offices in Athens, London, and Dalian, Helikon operates a fleet of 25 vessels, primarily focusing on bulk carriers, particularly supramaxes and ultramaxes, as well as two product tankers. The company remains one of the few Greek shipping firms with a significant presence in London and continues to adapt its fleet to meet market demands.
