Capital-Executive Ship Management Corp has entered into a strategic partnership with Axis Maritime Corp, an SPV led by Nicholas Madias, and will rebrand as Capital Axis Maritime Corp.

Announced in Athens, the cooperation agreement brings together Capital-Executive’s shipmanagement platform with Axis Maritime’s dry bulk expertise, creating a new venture focused on in-house commercial and technical management of a sizeable dry bulk fleet.

Capital Axis Maritime Corp will manage 20 dry bulk carriers with a combined capacity of about 3m dwt and an average age of eight years. The fleet comprises two newcastlemaxes, four capesizes, seven kamsarmax and panamax vessels already on the water, as well as seven capesize newbuildings scheduled for delivery in 2027.

Nicholas Madias, who will serve as president and chief executive of Capital Axis Maritime Corp, said the partnership with Capital-Executive Ship Management would generate long-term value through both cost efficiencies and revenue growth.

“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.