Poseidon
Counter-Cyclical Acquisition
We invest in market downturns or at the early stages of an upcycle, minimising exposure to asset-value fluctuation.
Piraeus · Marshall Islands · Since 1987
We sail the sea roadsthe ancients charted first.
ATHEM Holding Inc. is a vessel-owning company in Piraeus, founded and led by Penelopi Emmanouilidis. Behind it stand more than three decades of continuous family shipping — 24 vessels owned or managed, and a default-free record with Greek and international lenders.
35+
Years operating heritage
24
Vessels owned / managed
100%
Default-free financing record
0
Defaults in 3 decades
The House of ATHEM
From the harbour of Themistocles to the terminals of the world
In the fifth century BC, Athens built a navy and with it a trading empire that ran on grain from the Black Sea, oil and wine from the islands, and marble from Paros. The merchant captains of that age worked without charts or engines, reading winds, headlands and stars.
ATHEM Holding Inc. is a Marshall Islands vessel-owning company, operated from Piraeus, established to acquire, own and operate modern drybulk and tanker tonnage. The corporate vehicle is purpose-built and new; the seamanship behind it is not.
Penelopi Emmanouilidis holds an MSc in Shipping Science from the University of West London and brings 30 years of hands-on vessel ownership and management, including more than 20 sale-and-purchase transactions across drybulk carriers, product tankers and chemical tankers. She works alongside her father, Athanassios Emmanouilidis, whose career at sea and ashore spans more than five decades.
“Πλεῖν ἀνάγκη, ζῆν οὐκ ἀνάγκη.”
Investment Strategy
Four disciplines, each kept like a god's law
Athena
Downside-Based Underwriting
Every investment decision is underwritten on low-market scenarios — never on an expected market upturn.
Hermes
Diversified Trades
Exposure spread across drybulk carriers and product/chemical tankers to manage the cyclicality of each segment.
Hephaestus
Modern, Average-Aged Tonnage
Medium-sized investments in units typically 10–15 years old, balancing acquisition cost against remaining earning life.
Fleet · 1991 – 2023
Twenty-four vessels owned or managed across three decades
General cargo, handysize and Supramax bulk carriers, product tankers and oil / chemical tankers — each acquisition financed and repaid without a single default.
| No. | Acquired | Vessel | Type | Built · Deadweight |
|---|---|---|---|---|
| 1 | 1991 | M/V Vector | General Cargo | 1973 · 17,000 dwt |
| 2 | 1994 | M/T Sophos | Product Tanker | 1978 · 10,000 dwt |
| 3 | 1995 | M/T Andros | Product Tanker | 1977 · 10,000 dwt |
| 4 | 1997 | M/V Platon | Handysize Bulk Carrier | 1979 · 17,500 dwt |
| 5 | 1997 | M/V Kriton | Handysize Bulk Carrier | 1979 · 17,500 dwt |
| 6 | 2002 | M/V Pace | Handysize Bulk Carrier | 1977 · 27,500 dwt |
| 7 | 2002 | M/V Cora | Handysize Bulk Carrier | 1978 · 35,000 dwt |
| 8 | 2004 | M/T Spyros K | Product Tanker | 1981 · 17,500 dwt |
| 9 | 2004 | M/T Caribbean Pearl | Chemical Tanker | 1983 · 9,300 dwt |
| 10 | 2005 | M/T Seaway | Product Tanker | 1981 · 60,000 dwt |
| 11 | 2006 | M/T Miramare | Product Tanker | 1982 · 17,250 dwt |
| 12 | 2007 | M/T Caribbean Unity | Oil Tanker | 1987 · 18,800 dwt |
| 13 | 2007 | M/T Caribbean Faith | Oil Tanker | 1986 · 18,800 dwt |
| 14 | 2008 | M/T Caribbean Fidelity | Oil / Chemical Tanker, ICE-1A | 1985 · 22,720 dwt |
| 15 | 2008 | M/T Caribbean Renaissance | Oil / Chemical Tanker, ICE-1A | 1984 · 22,720 dwt |
| 16 | 2017 | M/T Caribbean Alliance | Oil / Chemical Tanker | 2006 · 17,000 dwt |
| 17 | 2018 | M/T Ocean Legacy | Oil / Chemical Tanker | 2007 · 37,000 dwt |
| 18 | 2019 | M/T Ocean Integrity | Oil / Chemical Tanker | 2008 · 17,000 dwt |
| 19 | 2020 | M/V Oceanic Leader | Supramax Bulk Carrier | 2006 · 54,500 dwt |
| 20 | 2021 | M/T Olympic Vision | Oil / Chemical Tanker, ICE-3A | 2006 · 35,000 dwt |
| 21 | 2022 | M/T Olympic Champion | Oil Tanker | 2006 · 40,500 dwt |
| 22 | 2023 | M/T Olympic Spirit | Oil / Chemical Tanker, IMO 2-3 | 2005 · 25,000 dwt |
| 23 | 2023 | M/T Olympic Glory | Oil / Chemical Tanker, IMO 2-3 | 2005 · 37,000 dwt |
| 24 | 2023 | M/T Delonix | Oil / Chemical Tanker, IMO 2-3 | 2008 · 20,000 dwt |
Lineage & Record
Four houses, one continuous line of shipping
1987
New Generation Shipping S.A.
Founded by Athanassios Emmanouilidis; owned and managed general cargo vessels out of Greece.
1994
G.M.A. Maritime S.A.
A leading independent manager of tankers and drybulk carriers in Central America and the Caribbean.
2023
Dynamic Shipmanagement S.A.
The family's current operating platform, managing a fleet of three oil/chemical tankers.
Today
ATHEM Holding Inc.
A Marshall Islands vessel-owning company acquiring modern secondhand drybulk and tanker tonnage.
US$68.5M
Debt raised across 24 acquisitions
22
Facilities fully repaid or prepaid
2
Facilities outstanding, performing
Zero
Defaults in over three decades
Debt has been raised with Greek and international banks and marine funds — among them Aegean Baltic Bank, Oaktree, Fourwood and Australis — to part-finance 24 vessel acquisitions across general cargo, handysize and Supramax bulkers, product tankers and oil / chemical tankers.
Make Harbour
Speak with the Piraeus office
Sale-and-purchase introductions, chartering enquiries and financing discussions are handled directly by the principals from Piraeus.
- Registered Office
- ATHEM Holding Inc. Republic of the Marshall Islands
- Operating Office
- 16, Filellinon Street, 2nd Floor Post Code: 18536 Piraeus, Greece
- Founder & CEO
- Penelopi Emmanouilidis MSc Shipping Science, Univ. of West London
- Telephone
- +30 210 4286920
- Mobile
- +30 693 6599100
- info@athemholding.eu