Banks approach Brave to manage ‘bankrupt’ ships

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The Vafias family controlled Brave Maritime Corp has been approached by bankers to manage ships that are either taken over by banks or that the banks believe can be managed better by Brave than their existing managers.

It would seem that the company has the necessary expertise after Brave, which has sold off all its bulkers except one, employs together with the other Vafias controlled owner Stealth Maritime Corp, more than 100 experienced office staff with expertise in bulkers, crude and clean tankers, gas vessels and chemical ships.

Meanwhile, Stealth Maritime has named two 114,000dwt newbuilding aframaxes in the New Times shipyard in China. The first was named Stealth Haralambos after the father of Nicholas Vafias and its godfather was Ian Beckman of WestLB bank. She starts a five year charter to a US-based operator.

The second vessel was named Stealth Chios after the island that the Vafias family hails from. According to Stealth boss Harry Vafias (pictured), its godfather was Thomas Zymnis a relative of the Vafias family. She is due to be completed in May when she will also start a five year charter to the same US based operator.