Monaco-based Marfin Management has strengthened its fleet with the acquisition of two modern /Ultramax bulk carriers previously owned by Taylor Maritime
Equasis now lists Marfin as the owner of 2015-builtGiovanni Topic, formerly known as IVS Wentworth. In addition, 2016-built IVS Gleneagles has recently been renamed Losone Topic, also pointing to Marfin’s ownership.
Shipbrokers reported earlier this year that the pair was sold to undisclosed European buyers for an en bloc price of US$43M. Marfin Management has been contacted for comment regarding its acquisition of the Japanese-built vessels.
According to its website, Marfin currently oversees a fleet of eight bulk carriers, comprising a mix of Handysize and /Ultramax tonnage.
Taylor Maritime has remained active in the secondhand dry bulk market, with several of its vessels drawing strong buyer interest. Among recent notable deals,Riviera reported that Eastern Mediterranean Maritime (Eastmed), led by Thanasis Martinos,acquired 2019-built IVS Okudogo and IVS Prestwick.
Ultramax values under pressure
According to Allied Shipbroking’s latest weekly report, /Ultramax asset values have continued to soften over recent months, creating buying opportunities for well-capitalised owners. Prices have declined by up to 6% over the past six months across various size categories.
Furthermore, Allied data reveals that /Ultramax vessels remain the most actively traded segment in the sale and purchase (S&P) market. As of mid-July 2025, 98 units had changed hands, with an average age of 15 years. Notably, this segment also topped S&P activity in 2024, when 277 vessels – averaging 12 years of age – were divested over the full year.
