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Harry Vafias’ Brave Maritime banks profit from selling handysize to listed affiliate C3is

Nasdaq-listed spin-off expands again after share issue earlier this year

Harry Vafias’ C3is has added to its fleet again by snapping up a bulker from the chairman’s private fleet.

The Nasdaq-listed company said the 33,700-dwt handysize Eco Spitfire (built 2012) is costing $16.19m from Greek affiliate Brave Maritime.

VesselsValue assesses the ship as worth $16.04m.

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Andrianopoulos family accelerates tanker comeback with four-ship newbuilding deal

Four directors quit as Vitol seals $1.8bn takeover of Italian refiner and charterer

Italy arrests Russian businessman over flight of oil smuggling suspect

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By SuperyachtNews 04 Jul 2017

The business of superyachts

Owners and successful businessmen, harry vafias and kim vibe-petersen, speak to the superyacht report….

In the upcoming edition of The Superyacht Report, we feature two owners who use their innate business knowledge to journey through the market and manage their multiple vessels.

Danish owner and technology tycoon Kim Vibe-Petersen explains the reasoning behind his recent acquisition of 52m Q (ex- Mondango ) to Bryony McCabe. Q joins Parsifal III , the family’s 54m busy charter vessel, “We wanted a faster boat with similar space, and we like the sporty style that Q has,” he remarks.

Vibe-Petersen made the purchase in the hopes that Q would follow in the successful wake of Parsifal III on the charter market. Following the investment, she went through an extensive refit inspired by Scandinavian minimalism, a direct contrast to the previous owner’s oriental style interior. With her first season fully booked already, it is clear that Vibe-Petersen is certainly proficient in understanding what clients want from a vessel. Unlike many owners, he explains how he is happy to limit his own family’s use of the vessel in favour of charter clients, admitting that the family have only used Q for a few weeks.

Felix Sowerbutts enjoys a conversation with owner of 47m Feadship X and 57m Benetti AE Cap d’Antibes, Harry Vafias. The Greek magnate is a lover of the yachting market, but for a slightly different reason than most, “I just love negotiating. I love the whole process of inspecting boats, doing the sea trials, speaking to the naval architects and going into the engine room and speaking to the engineers – all the processes that most owners hate, I love,” he explains. “I prefer doing all of that and negotiating to actually using the boat. That’s what I do in my business and it’s what I like to do for a hobby too.”

As the head of a commercial shipping empire, it is not surprising that Vafias can bring a wealth of expertise to the yachting market. Within the article, Vafias details the many negotiations he has handled over the years, including with the famed Lord Alan Sugar. “Look, Lord Sugar is famous for his negotiating skills, and he is also famous for not wanting to go through brokers but negotiate directly with the owners. But I’m a negotiator too, so it was a fair, thorough and polite process, and I think we were both happy with the result – it was a win-win,” he reveals.

These interviews join a guest column from Katherine Ellis, Boston Multi Family Office, which details the importance of a family office in all aspects of owner negotiations and an in-depth analysis of 'Yachts Engaged in Trade', the new initiative from The Republic of the Marshall Islands.

Don’t miss all this and more in The Superyacht Report, issue 180. To apply for your VIP subscription, click here.

Image: Q , courtesy of Camper & Nicholsons.

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• EXHIBITION HALL
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Harry N. Vafias

Speaker Managing Director of Vafias Group of Companies

Harry Vafias is the Managing Director of Vafias Group of Companies which includes three listed in the New York Stock Exchange companies. 

Harry Vafias founded Stealth Maritime Corp in 1999. Stealth Maritime Corp has invested in new generation newbuilds for the renewal of its tanker fleet and today operates twenty two 50,000 – 170,000 dwt modern double hull oil tankers all under term charters with oil companies and traders.

In 2004 he founded Stealthgas which was listed on the NASDAQ in October 2005 and up to today has raised approx $500 mill from the capital markets. Stealthgas owns 45 gas ships (including newbuilds) and is the largest company, in number of owned vessels, in gas transportation worldwide.

In 2021 he founded Imperial petroleum which was listed on the NASDAQ in December 2021. That company owns 12 vessels and is the 7th most traded stock on any US stockmarket!

In 2005 Harry Vafias founded Estates Corporation Inc, a real estate company, investing in Greece, London, New York, and Switzerland.

In 2008 Harry Vafias became CEO of the Vafias Group, which today is one of Greece’s largest shipping groups with 91 vessels.

In 2008 Harry Vafias was awarded by the NASDAQ for being the youngest CEO of a listed shipping company worldwide.

In 2010 Harry Vafias was elected vice chairman of the INTERTANKO meditteranean panel. In the same year Harry Vafias was awarded the SEATRADE young person in shipping award.

In 2012 Harry Vafias was awarded by Lloyds list newspaper for being ‘newsmaker of the year for 2012’

In 2013 Harry Vafias and StealthGas was awarded by Lloyds list newspaper for ‘best tanker company of the year for 2013’

In 2016 was elected vice president of the consular corps in Greece (CCG).

In 2018 was elected president of the consular coprs in Greece (CCG).

Mr Vafias is also a member of the ABS classification society committee, of the NK classification society committee, of the KR classification society committee, member of the board of the BSA (Bahamas shipowners association) and also a member of the board of BCA (Business School of Athens).

In 2022 Harry Vafias was awarded by Lloyds list newspaper for being ‘newsmaker of the year for 2022’

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Superyacht owners' guide: 4 top tips for Greece

Choose the right time in the season to visit.

With fabulous beaches , clear waters and some of the best bars in the Mediterranean it is no surprise that so many yachts flock to Greece every season. Here superyacht owner Harry Vafias offers his invaluable advice if you are planning on visiting this summer.

The season in Greece is a long one — it starts in May and finishes in the middle of October. If you go early or late there will be fewer people around, particularly on the more popular islands. So if you are going to Mykonos for the nightlife there’s no point going in May or at the end of September. Equally, if you want to relax and just enjoy some of the best beaches in the Mediterranean  and you’re not too bothered about missing the parties, avoid the top of the Greek charter season in July and August.

Picture courtesy of Pawel Kazmierczak/Shutterstock.com

Plan your trip around the weather

The weather is still good both early and late in the season. The sea temperature is not quite as warm early in the summer, but by European standards it’s still warm enough. In December you can’t swim unless you are particularly bold, but if you want to see the history and culture instead, it’s a great time to visit. However, 99% of the yachts and the people that visit the Greek islands come between May and the first weeks of October.

Picture courtesy of  Redman/Shutterstock.com

Pack a large suitcase

There are close to 2,000 islands in Greece, although estimates of the number will vary depending on the minimum size of rock that you choose to call an island! They range from the sophisticated, historic and cultural to the completely uninhabited, so what you choose to pack will depend on the islands you plan to visit. If you are just going to the unpopulated places and plan to swim, stroll on the beaches and eat on board, then you won’t need any more than swimming costumes, shorts and T-shirts .

However, if you are visiting the places at the other end of the spectrum — the hip, trendy islands like Mykonos, Paros and Rhodes — it’s the same as going to the French Riviera , only with a much cleaner sea. Visiting the smart restaurants and clubs will mean you need to be more formal and pack a larger suitcase. The majority of the visiting yachts that I know do a mixture, and this is probably the best thing: take in both quiet islands and their busier brethren.

Picture courtesy of Michal Bednarek/Shutterstock.com

Throw out the guide book

I don’t think it’s necessary to take a specific cruising guide, especially for the Aegean Sea, as the islands are so close to each other and so much information is available everywhere. Admittedly, I am Greek, so I am a bit biased, but I don’t think a big guidebook is necessary — it helps, but it isn’t necessary. Perhaps the best idea is to get a brief guide with a short summary of all the islands — there are so many that if you try to read lots of information you will never finish.

Ideally, find a small guide with half a page or less on each of the bigger islands. This means that you can get a general idea of the advantages and disadvantages, the accessibility, the size of the port, if you can moor at a dock or if you have to anchor off, and what’s available in the way of nightlife, museums or other attractions. Then you can decide on the islands that you want to visit and why, along with the things you particularly want to see and do. Use the basic information to make a quick decision, you don’t need an encyclopaedia about each island because you will have lost the summer just doing the research.

If you want to read something to get in the mood for your trip, there is nothing better than the most famous book in the world: the story of Ulysses, or Odysseus, the legendary king of Ithaca and the hero of Homer’s Odyssey .

Picture courtesy of Martin M303/Shutterstock.com

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