Capital-Executive Partners with Axis Maritime for Fleet Expansion
In a significant move within the shipping industry, Capital-Executive Ship Management Corp has announced a strategic partnership with Axis Maritime Corp, led by Nicholas Madias. This collaboration will see the rebranding of Capital-Executive as Capital Axis Maritime Corp, marking a new chapter focused on enhancing the management of a substantial dry bulk fleet.
New Venture to Manage Expansive Dry Bulk Fleet
The partnership, unveiled in Athens, aims to merge Capital-Executive’s established ship management platform with Axis Maritime’s extensive expertise in dry bulk operations. Together, they will oversee a fleet of 20 dry bulk carriers, boasting a total capacity of approximately 3 million deadweight tons (dwt) and an average vessel age of eight years. This fleet includes two Newcastlemax vessels, four Capesize ships, and seven Kamsarmax and Panamax vessels currently in operation. Additionally, the venture plans to incorporate seven Capesize newbuildings, which are expected to be delivered by 2027.
Nicholas Madias, who will take on the roles of president and chief executive of Capital Axis Maritime Corp, expressed optimism about the partnership’s potential. He emphasized that the collaboration would not only enhance operational efficiencies but also drive revenue growth. “By combining Capital-Executive Ship Management Corp’s strengths with our deep expertise in the dry sector, built over 25 years of experience in ownership and hands-on management of dry bulk assets, we are optimistic that this collaboration will unlock significant potential,” Madias stated.
This strategic alliance positions Capital Axis Maritime Corp to capitalize on emerging opportunities in the dry bulk market, aiming to deliver long-term value through improved cost management and operational synergies.
