Major Greek shipper, Capital-Executive Ship Management, has partnered with Axis Maritime, a special purpose vehicle (SPV) led by Nicholas Madias, to create a new dry bulk venture. The new entity will have Madias at the helm as president and chief executive of Capital Axis Maritime.

Capital Axis Maritime will manage 20 dry bulk carriers, with a combined capacity of around 3 million deadweight tonnes. The partnership brings together Capital-Executive’s ship management platform with Axis Maritime’s dry bulk expertise, creating a new venture focused on in-house commercial and technical management of the sizeable dry bulk fleet.

‘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 said.