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Contemporary History

1947: John Tsakiris, the founder of Tsakiris family shipping interests, joined the exporters of Sudanese     produce in London, Karapanagioti & Co Ltd.;

1951: John Tsakiris became a Director of Tsakiroglou & Co (Port Sudan) and Sudan Oil Mills Ltd. in charge of production, exports & chartering ground nut oil & derivatives; Through his family connection with the Frangistas family, he started investing into ship-owning by taking minority interests in the Frangistas vessels;

1962: After amicably separating with Frangistas, John Tsakiris and consolidations their interests in 2 Liberty ships, together with his brother Vakis & nephew George, set-up Shipping & Produce in London; Shipping & Produce culminated with a fleet of 12 vessels, all cash-financed.

1996: Following a policy of successful disposals, John Tsakiris separated business interests from his brother & nephew, passing Management duties to Constantinos Tsakiris. New start based in Athens, renaming of the Company to Paradise Navigation.

1997: First Vessel acquired “Achilleas F” (1980 built, 35000mt Bulker).

1999: Acquisition of two 65000mt Panamax Bulkers “Stefania” & “Natalie”.

2000: Acquisition of first Tanker, the 1988 built, 61000mts Coated “Redina”

2002: Order Placed to Chineese Shipyard Hudong for 1 + 1 coated 72000 Panamax Tankers for delivery September 2004. Formation of JV with Heidmar to own 25% equity in 1st ship (Aspropyrgos) and participation in the design of the Hudong series ships.

2003: The Achilleas F sold for further trading.

2003: Declaration of 2nd option and ordering further 2 ships, bringing total to 4. Formation of 50-50 JV with the Sargeant Group of FL for last 3 ships in series. John Tsakiris dies of Cancer, at age 79.

2004: Amicable partial split with the Sargeants retaining 4th and last ship of series 100%, Paradise Tankers retaining the 3rd (Daedalos-2005) 100% and the 2nd ship (Ikaros-2004) remaining 50-50%.
          ISO 14000 documentation completed and approved by DNV.
          Paradise Navigation becomes a member of the Heidmar run panamax    tanker STAR pool.
          M/T Redina’s time charter with Stentex has been extented for another 2 years ending spring    2007.
          Delivery of M/T Aspropyrgos (72,000 dwt) from shipyard trading into the STAR pool.
          Delivery of M/T Ikaros (72,000 dwt) from shipyard trading into the STAR pool.

2005: Delivery of M/T Daedalos (72.000dwt) from shipyard trading into the STAR pool.

2006: M/T Redina sold to B+H Equimar – Singapore.

2007: M/T Polar taken under Paradise Navigation S.A management.
          Acquired the remaining 50% in MT Ikaros

2008: Concluded strategic deal with Stena Bulk, who acquired 35% of the Holding company Paradise Tankers Corp.

(Download announcement)

2009: Panamax Tankers were renamed Stena Callas, Stena Chronos and Stena Chiron respectively.

2011: Sold MV Natalie & MV Stefania to Chinese buyers.

2013: JV with Vasilopoulos Family started through Paradise Gas Carriers (PGC). Acquisition of M/T Polar, a sister vessel of S. Callas, S. Chronos and S. Chiron. Delivery was effected on July 18, 2013 when the vessel was renamed M/T PGC Marina. Paradise Group enters to LPG sector and PNSA becomes a Member of the Gaschem-Gasmare Pool. Delivery of the Group's first LPG, ex.  “Syn Alcor”,  renamed to M/V PGC Aratos effected on October 24th 2013. 

2014: Paradise Gas Carrriers agreed the acquisition of two more LPG carriers.

  • The Newmarket 1, a 6,500 cbm Semi-Refrigerated Gas Carrier built 1999, renamed  PGC Strident Force and the Aintree, a 6,500 Fully Pressurised Gas Carrier built 1997, renamed  PGC Darko King. MoA signed on 13th January 2014 for both acquisitions and delivery effected on 12th and 17th of March 2014 accordingly.
  •  Paradise also became a member on Penfield’s Pool, formed by Heidmar former top executives.
  • On 4th of November 2014, PGC placed an order for 2 units of 7,500 cbm Fully-Pressurized LPG carriers at Kyokuyo Shipyard in Japan.
  • At the end of the year (18th December 2014) PGC acquired 2 sister LR1 tankers, both built in 2004 at Hudong Zhonghua Shipyard in China, renamed PGC Ikaros and Aspropyrgos.

2015:  PGC Ikaros was sold during May, to Norwegian buyers. The sale was accompanied by a 4-year Bareboat back to to PGC.

  • The company completed the planned, USD 6 million, capital increase, to be used for further investments.
  • On July the 30th, PGC placed an order for 2 more 7,000 cbm, Semi-Refrigerated LPG vessels, at Kyokuyo shipyard in Japan.

 

 

Strategic partnerships

Heidmar :

PNSA became a member Heidmar’s Star Pool (50% owned by Morgan Stanley) in 2004, one of the most competent and transparent pools in the tanker market. Since then, all our panamax vessels have been trading in this pool very successfully, scoring almost maximum pool points outperforming a vast majority of the pool members (approx. 30 vessls).


Sargeant Marine :

Formed a strategic partnership with Harry Sargeant III, a well known US shipowner, with whom we jointly built and owned 3 vessels, Ikaros, Daedalos and Polar.


Stena :

In 2008, PTC’s shareholders sold 35% of their shares to STENA, hence our vessels were delivered to Stena Sonangol Panamax Pool, where they have been trading until 2012. Stena is one of the world’s leading players in shipping, very active in an number of sectors.

 

Vasilopoulos Family :

The company has recently formed a strategic relationship with the Vasilopoulos family (well-known in the Pharmaceuticals industry) to coinvest in the gas sector, focusing mainly on LPG carriers. The two parties have formed the joint venture, PARADISE GAS CARRIERS CORP (PGC).

 

 GaschemGasmare Pool :

GaschemGasmare pool is a leading fleet operator in the gas carrier market segment between 3.000 and 35.000 cbm capacity with a pool fleet of 55 tankers and a total capacity of 472.000 cbm (36 tankers with a capacity of 278.000 cbm are suitable for the transportation of Ethylene). Both managers and Owners are delighted to be part of such a solid platform which shall serve as a base for our desired future growth in the LPG sector. PNSA has been officially accepted as a member of GaschemGasmare pool on 24th of July 2013.