Fomentos Armadora was established in 1971 as a ship management company operating mainly Handy-size
bulk carriers and smaller general cargo vessels. The company gradually built up a modern fleet of 14
vessels, which in the later years consisted of 15,000 tons-deadweight IHI Freedom-type vessels and
33,000 tons-deadweight Bulk Carriers built at Kanasashi, Japan.
Later on, as a result of the company’s clients wishing to pursue investments in alternative industries,
the vessels were gradually sold and eventually in 1999 Fomentos Armadora ceased operations.
The fleet was operated out of Piraeus, Greece, while an affiliated company,
Apollo Trade & Shipping Agencies Limited, was a member of the Baltic Exchange from 1971 and until 1998.
After a considerable absence from the ship management business, Fomentos Armadora was reactivated in 2009
with a view to invest in and operate modern Bulk Carriers, taking advantage of asset prices having decreased
for the first time after a long period.