Not much difference to report from the take-over of the Lydian Trader compared to the Ionian Trader. Our operator Armona showed muscles by accepting delivery of two vessels within 24 hours. Headed by our senior fleet manager Capt. Gökhan Pehlivan we have taken delivery of the Lydian Trader from Greek owners Enterprise Shipping in Algeciras. Also this delivery took place smoothly in the morning of Saturday Feb 18th and crews were exchanged in the evening. During weekend husbandry and familiarization were instated, and on Monday the vessel went on drift due to the heavy weather conditions that made it impossible to remain at the berth without damage to the ship. We changed class and flag, painted the new name Atlantis Araceli to the sides until Friday and departed to go on her “maiden” voyage in the evening to load 5000mts of gasoil in Mohammedia to discharge in Nador.
The nomination of ship names at Atlantis Tankers derives from locations of interest our owners have experienced. In this case, the ship was given the name of the Philippine port of Araceli, a tribute to our Filipino crew members to give them a taste of home.
The Araceli was built in 2008 at Celik Tekne in Istanbul for account of a Norwegian-Turkish joint venture and is equipped with high standard European products such as MAN Augsburg propulsion system and Framo cargo pumping system. She is also a sister vessel to the Atlantis Arki.
The deal is supported by a finance with no equity portion and the favourable purchase price signals push to replenish the groups reserves. Improving growth aspects as this is part of an effort to move down the cost curve towards more preferred assets, there is renewed concern about a supply glut that already sent ripples through the shipping markets since mid 2016.
