SHIP2SHORE — 2026-08-31
Maritime and Ports
The car carrier which is already considered a financial record-breaker has begun operations in the Mediterranean: the Clean Star, a 7,000 CEU PCTC Pure Car and Truck Carrier (PCTC), dual-fuel LNG, is the latest in a series of 4 vessels built by the CIMC Raffles shipyard in Longkou, China.
At 68,903 GT and 19,260 dwt, she complies with SDARI standards, with 12 decks, four of which are lifting. A dual-fuel Everllence B&W 6S60ME-C GI main engine with 13,300 kW powers the vessel, which is equipped with two 1,650 m³ LNG tanks, at a service speed of 19 knots.
The first vessel in the series, the Eco Star, was delivered to Atlas Maritime in April this year, while the remaining two newbuilds in the series were acquired by UGR.
The Clean Star has made quite a stir on the international market: just after its delivery from the Chinese shipyard, it was chartered by the Greek shipowner Atlas Maritime (in partnership with the Danish specialist EMF European Maritime Finance) to Chinese operator Ningbo Ocean Shipping Co (NBOSCO), in a contract of unprecedented value.
This represents a move considered by some observers to be bold for one of China's most dynamic shipping companies, but it enters an unprecedented field.
Already established as one of the fastest-growing containership operators, now among the top three in China, Nbosco aims to gain a share of China's rapidly expanding vehicle export market; it is therefore likely that the company will charter further vessels in the near future and even order PCTCs of its own.
“We are thrilled to celebrate the successful delivery of our new HN H591/Clean Star vessel, built at CIMC Raffles in China, a state-of-the-art 7,000 CEUs, Dual-Fuel LNG vessel, which represents a huge technological leap forward in sustainable shipping,” said the company’s CEO Leon Patsisas, a scion of renowned Lemos shipping group, who founded the Hellenic shipmanagement firm in 2004.
“Additional to our genuine excitement, we are proud to announce that our vessel has been secured a 2-year time charter at $80,000 per day, setting a new market benchmark and breaking all records, at least for the company!”
“A solid result and a proud moment for the entire European Maritime Finance team” said Martin Almda, Partner at EMF, acknowledging “Martin Haugaard and the commercial team for securing this deal, and our partners at Atlas Maritime Ltd. and our investors for their continued trust: $80,000 per day on a 2-year time charter is a true record across our portfolio, and reflects what we set out to build: modern dual-fuel LNG tonnage commissioned to the right shipyard and with the right counterparty, in a segment where quality assets remain structurally scarce.”
"This is the highest time charter rate ever achieved across EMF's entire fleet and investment portfolio, confirming our ability to secure high-quality business opportunities and maximize long-term value creation. The vessel also remained on schedule following its launch in June, marking another important milestone in our journey to build a world-class maritime asset portfolio," commented Martin Haugaard, founder and chairman of EMF's Investment Advisory Board.
"This record charter further strengthens the investment's profitability profile and reflects our long-standing commitment to providing attractive and sustainable returns to our investors.
This new 2-year time charter is expected to generate $56 million in gross proceeds, clearly demonstrating the significant long-term value creation potential of these assets. With an expected operating life of 25-30 years, these vessels are capable of generating attractive earnings, solid cash flows, and consistent dividend distributions for decades. Combined with their long-term residual value, we believe this investment is a worthwhile investment. It represents exactly the kind of high-quality maritime opportunity we seek to offer our investors" Haugaard concluded.
On its maiden voyage the vessel delivered a full load of 5,400 electric vehicles carried at Meixi terminal in the Port of Ningbo-Zhoushan, located south of Shanghai, bound for Europe.
Then last Saturday, a couple of days earlier than expected – the ETD had been set for August 31st – the Clean Star left Italy: the PCTC had arrived at Gioia Tauro overnight, remaining at the public berth on the quay adjacent to the Automar ro-ro terminal, and before the end of the weekend, it set sail for its new destination of Barcelona.
Who is shipowner Leon Patsisas, an "American" descendant of famous Greek Lemos family?
Leon Patitsas, 50, born in London on February 7, 1976, married to Marietta, three children, and educated in the United States, where he earned a Master of Science from the Massachusetts Institute of Technology (MIT) and a degree in Mechanical Engineering from Tufts University, is the founder (in 2004 in Glyfada, Attica) and CEO of Atlas Maritime, which under his leadership has grown to over $2 billion in assets in the maritime sector.
The fleet is well diversified and includes oil tankers, product tankers, PCTC Pure Car and Track Carriers, and gas carriers.
With over twenty years of experience in the industry, the Greek shipowner has developed a solid track record of generating exceptional returns: Atlas has purchased assets at advantageous prices and, after operating them for an average of three to five years, had the acumen to resell them at a profit. The vessels were tied to medium- to long-term contracts that generated steady cash flows, allowing for debt repayment, dividend distribution, and the creation of solid returns. The contracts were signed with top-tier counterparties: Phillips 66, Shell, and BP.
Patitsas began his career in New York at an investment bank specializing in hedge funds and private equity investments, an experience that laid the foundation for his expertise in finance and capital raising. He subsequently gained solid experience in asset purchases and sales, cash flow management, and financing in major global maritime centers, including New York, London, and Athens. This experience has facilitated the creation of successful joint ventures with leading private equity firms and asset managers in New York, London, Copenhagen, and Switzerland.
In 2025, Atlas Maritime completed the sale of the PCTC vessels UGR Al Samha and UGR Zakher to Abu Dhabi Ports, retaining their technical and commercial management under its aegis.
This year also marked a significant milestone in the expansion of its fleet with the delivery of four LR2 tankers: Stavanger Star, Athenian Star, Copenhagen Star, and Oslo Star.
Looking to the future, Atlas continues to invest through a robust newbuilding program underway, with the delivery of 3 Suezmax tankers; 5 additional orders have been placed for 2 Suezmax tankers with scrubbers commissioned to DHSC and 3 Very Large Ammonia Carriers with dual fuel LPG commissioned to the South Korean shipyard HHI Hyundai Heavy Industries.
Atlas Maritime was not born from nothing but boasts a long history and tradition in the maritime sector. The company draws inspiration from the long history of the prominent Greek Lemos family, active since the 18th century and which has owned over 100 vessels over three centuries.
In 1905, great-grandfather Christos M. Lemos was co-owner and first captain of the Marietta Ralli, a ship that Greek maritime tradition remembers as the first steamship owned by sailors from Oinousses, one of the country's most important maritime islands.
In 1947, in recognition of their contribution to the war effort during World War II, the family received one of the famous 100 Liberty ships, which helped revive the fortunes of the Greek merchant fleet in the postwar period.
Another source of family pride is grandfather Capt. Leon C. Lemos, founder of Efploia Shipping, one of the most respected Greek shipowners in the 1970s and 1980s, after selling 15 of his 17 vessels in 1980, shortly before the crisis, re-entered the market in 1985, when conditions were still in recession, commissioning a series of 10 bulk carriers from Hyundai Heavy Industries, a South Korean shipyard with which Atlas had resumed its relationship for its own construction project.
Leon Lemos was a true pioneer in the sector, well ahead of his time, among the first to introduce private equity investors into the company's capital structure in the 1970s, and incentivized employees by offering them shares in the ships, thus aligning their interests with those of the company.