The Angelicoussis Group has proceeded with the renaming of the recently acquired company Altera Shuttle Tankers. The company previously belonged to Maistros Shiptrade Limited, which is affiliated with Maria Angelicoussis’ group.

The acquisition was completed last month. According to an announcement on the Oslo Stock Exchange, the company’s new name is Maran Shuttle Tankers, aligning it with other subsidiaries of the Angelicoussis Group, such as Maran Tankers, Maran Gas, and Maran Drilling.

Altera Shuttle Tankers is a leading provider of shuttle tankers, operating 18 vessels in Brazil, Canada, and the North Sea.

The acquisition was first announced in November. According to VesselsValue data, the value of Altera Shuttle Tankers’ fleet was estimated at approximately $2.5 billion on the day of acquisition. However, due to the decline in tanker values, the fleet’s worth later dropped to around $2.26 billion. Regardless, the acquisition strengthens the Angelicoussis Group’s strategic expansion in the shipping sector.

Offshore oil and LNG extraction is the hottest game in the global shipping industry, and Greek shipowners play a dynamic role in providing services and logistical support within this sector. Their goal is to establish themselves as key players in offshore operations. But let’s start from the beginning.

Investment interest has shifted toward this sector due to the surge in exploration and offshore drilling activities for oil and natural gas. Within this context, the vessels that support these offshore infrastructures—whether for drilling or renewable energy production—are once again at the forefront, securing strong charter rates.

The acquisition highlighted that Maria Angelicoussis’ decision in early 2024 to order the construction of three shuttle tankers—backed by charter contracts with Brazilian oil giant Petrobras—was part of a broader strategic plan. The acquisition announcement coincided with the day Donald Trump won the U.S. presidential election. The new U.S. president is a strong advocate for increasing oil production while gradually transitioning toward green and alternative energy, a stance that boosts demand for shuttle tankers—specialized vessels that transport oil from offshore drilling platforms, effectively replacing pipelines.

Maria Angelicoussis had stated: “The long-standing relationships of AST and its highly sophisticated fleet, combined with our shared culture of excellence and commitment to a sustainable future, mean that together, AST and our Group are firmly positioned to deliver best-in-class services to customers across the growing shuttle tanker market.”