Minerva Marine

What Minerva Marine does

Minerva Marine Inc. (founded 1996) and Minerva Dry Inc. (founded 2020) are privately held ship management companies headquartered in Athens, Greece and incorporated in the Marshall Islands. The group manages a fleet of 74 vessels — spanning VLCC, Suezmax, Aframax and MR tankers under Minerva Marine Inc., and Capesize, Kamsarmax, Ultramax and Container dry cargo vessels under Minerva Dry Inc. — supported by 3,853 seafarers and 230 shore-based staff across offices in Athens, Chios and Kalymnos, with manning agencies in Manila (established 2000) and Odessa (established 2007). The service portfolio covers Health, Safety & Quality oversight, operations and voyage support, commercial chartering, technical management with Planned Maintenance Systems, newbuilding site supervision, marine personnel/crew management, and energy & environmental management. Training is delivered through the affiliated Athina Maritime Learning and Development Center, equipped with Kongsberg Digital K-Sim full-mission bridge, engine room and liquid cargo handling simulators.

Revenue is generated through B2B ship management fees paid by vessel owners under long-term contracts covering technical, crew and commercial management, plus newbuilding supervision fees and chartering commissions on spot and period employment secured by the in-house Commercial team. Customer segments are primarily oil majors and tanker operators (crude and chemical product carriers) and dry bulk operators (including Cargill International as a named partner), with charterers as a secondary segment. Underlying technology and management systems include a Safety Management System compliant with ISM and ISPS Codes, ISO 9001/14001/18001/45001/27001 certifications (ISO 45001 achieved first among Greek ship managers via DNV GL in 2018), the ABS Enterprise Asset Management program (2018) for lifecycle asset optimization, and fleet-wide Starlink high-speed satellite connectivity (deployed 2024) enabling real-time vessel-to-shore data exchange. The company is pursuing decarbonization positioning via a 2023 Joint Development Project with Lloyd's Register, Cargill and NACKS for a wind-assisted, methanol-ready dual-fuel Kamsarmax bulk carrier design.

Name

Minerva Marine

Legal name

Minerva Marine Inc. and Minerva Dry Inc.

Website

https://minervamarine.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Minerva Marine is a privately held Greek ship manager operating a 74-vessel tanker and dry cargo fleet for oil majors and bulk operators, delivering technical, crew, commercial and newbuilding management supported by ISO-certified systems, Kongsberg simulators and fleet-wide Starlink connectivity.

Ownership category

akta.pro rank

Product category

Ship Management Services

NAICS

Support Activities for Water Transportation (4883), Ship Building and Repairing (336611), Other Support Activities for Water Transportation (48839)

SIC

Water Transportation (4400), Ship & Boat Building & Repairing (3730), Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Piping, HVAC & Auxiliary Systems Repair (TLAKAKAH)

akta.pro secondary industries

Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ), Marine Engineering & Engine Room Operations (EDAOANAB), Marine & Offshore Energy O&M (Offshore Wind, Platforms, Subsea Assets) (EUAEAGAO)

Keywords

• Ship management services
• Tanker fleet management
• Dry cargo shipping
• Marine crewing services
• Vessel technical management

Headquarters

HQ city

Athens

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Ship Management Services: Full-service ship management for tanker vessels (Minerva Marine Inc.) and dry cargo vessels (Minerva Dry Inc.), including technical management, crew management, commercial management, HSQ oversight, and newbuilding supervision. Revenue derived from management fees paid by vessel owners.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Minerva Marine provides full-service ship management through two divisions: Minerva Marine Inc. (est. 1996) manages a tanker fleet ranging from MR to VLCC for crude oil and chemical product carriers, while Minerva Dry Inc. (est. 2020) manages dry cargo vessels including Capesize, Kamsarmax, Ultramax, and Container types. The integrated service covers technical management, crew management, commercial management (spot and period chartering), HSQ oversight, newbuilding supervision, and energy/environmental compliance, delivered through offices in Greece, the Philippines, and Ukraine.

Product overview

Minerva Marine is a Greek ship management company operating two distinct divisions: Minerva Marine Inc. (established 1996) manages tanker vessels ranging from MR to VLCC (crude oil and chemical carriers), while Minerva Dry Inc. (established 2020) manages dry cargo vessels including Capesize, Kamsarmax, Ultramax, and Container vessels. The company provides comprehensive ship management services including Health, Safety & Quality oversight, Operations support, Commercial management, Technical services, Newbuilding supervision, Marine Personnel services, and Energy & Environmental management. Training services are delivered through the affiliated ATHINA Maritime Learning and Development Center. The combined managed fleet comprises 74 tanker, dry cargo and container vessels with 3,853 seafarers and 230 shore-based employees.

Differentiator

Problem solved

Functional benefit

Products and services

• Minerva Marine Inc. - Tanker Ship Management Full-service ship management for a tanker fleet ranging from MR to VLCC class, including crude oil carriers and chemical product carriers. Provides technical, crew, commercial, HSQ, newbuilding supervision, and energy/environmental management services to vessel owners and oil majors.
• Minerva Dry Inc. - Dry Cargo Ship Management Full-service ship management for a dry cargo fleet including Capesize, Kamsarmax, Ultramax, and Container vessels. Established in 2020 to serve the dry marine supply chain with integrated technical, crew, commercial, and decarbonization-focused operations.

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core.

• Lloyd's Register (LR)coreTechnology or Integration · 3 October 2023Lloyd's Register acted as adviser and sole classification society for the joint development project designing a methanol-ready dual fuel Kamsarmax bulk carrier with rotor sail capability. LR provided design validation and compliance assessment for the energy efficient vessel design.
• NACKS (Nantong COSCO KHI Ship Engineering Co Ltd)coreStrategic or Co-development Partner · 3 October 2023Chinese shipyard NACKS provided design knowledge and vessel construction expertise for the methanol-ready dual fuel Kamsarmax bulk carrier project. The yard optimized hull form and implemented energy saving devices for the design.
• Cargill InternationalcoreStrategic or Co-development Partner · 3 October 2023Dry bulk operator Cargill provided input on user requirements and operational experience for the joint development project. Chris Hughes, Decarbonisation Specialist, contributed expertise for the methanol-ready vessel design.
• Kongsberg DigitalcoreTechnology or Integration · 5 June 2018Agreement signed for supply of K-Sim Full-Mission Class A Bridge, K-Sim Engine Room and K-Sim Liquid Cargo Handling simulators for Athina Maritime Learning and Development Center. Provides integrated total ship learning experience for crew resource training.
• ABS (American Bureau of Shipping)coreTechnology or Integration · 1 June 2018Enterprise Asset Management (EAM) Program agreement with ABS Advanced Solutions for managing entire lifecycle of physical assets. Program designed to optimize use, reduce costs, and improve vessel reliability and efficiency across the managed fleet.
• ATHINA Maritime Learning and Development CentercoreStrategic or Co-development PartnerExclusive maritime training organization for Minerva Marine providing advanced training to seafarers. Equipped with state-of-the-art facilities and Kongsberg Digital simulators. Training center aims to enhance seafarer competence and professionalism for safe and efficient vessel operations.
• Minerva Marine Agency Inc. (Manila)coreChannel Partner/ Reseller/ DistributorPOEA accredited manning agency established in Manila in 2000, certified by DNV GL as MLC compliant crew manning office. Performs recruitment, qualification checks, competency assessments, and pre-embarkation services for seafarers.
• LLC Minerva Manning Agency (Odessa)coreChannel Partner/ Reseller/ DistributorCrew manning company founded in Odessa in 2007, fully certified under Ukrainian legislation. Selects and provides trained, qualified and experienced seafarers with preference for officers with tanker seagoing experience.
• Starlink (SpaceX)coreTechnology or IntegrationFleet-wide installation of Starlink service on all managed vessels enabling high-speed internet connectivity. Revolutionizes communication and efficiency at sea, enabling real-time data exchange and enhanced crew welfare.
• DNV GLcoreTechnology or IntegrationClassification society providing ISO 45001 certification for occupational health and safety management system. First Greek ship management company to receive this certification from DNV GL.

Scale indicators3 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Anglo-Eastern: One of the largest independent third-party ship managers globally with a managed fleet of 600+ vessels across tankers and bulkers. Directly comparable to Minerva on full-service ship management, manning infrastructure, and oil major tanker pool participation.
• V-Group: World's largest ship management company (formerly V.Ships), managing ~1,000 vessels with crewing, technical, and digital services. Comparable to Minerva across tanker and dry bulk segments and on the broad-service full-management model.
• Bernhard Schulte Shipmanagement: German-headquartered family-owned ship manager with global operations across tankers, bulkers, and container ships. Closely comparable to Minerva on private ownership structure, full-service offering, and integrated crew training centers.
• Wilhelmsen Ship Management: Norwegian ship management arm of Wilh. Wilhelmsen Holding, managing tankers, gas carriers, and offshore vessels. Comparable on third-party full management and on the focus on digitalization and decarbonization advisory services.
• Thome Group: Singapore-based ship manager managing tankers, bulkers, and offshore vessels with strong presence in Asia. Comparable on full-service ship management and integrated manning, with overlap on oil major tanker pool contracts.
• Columbia Shipmanagement: Cyprus-based ship manager with German shipowning roots, managing tankers, bulkers, and container vessels. Comparable private-ownership structure and full-service offering, with similar Mediterranean operational footprint.
• Thenamaris: Greek ship management company (Suisse-Atlantique group) managing tankers and bulkers from Athens. Direct head-to-head competitor for Minerva in the Greek tanker management market with similar client roster.
• OSM Maritime Group: Norwegian-headquartered ship and offshore manager with global operations including strong presence in Greece and Asia. Comparable on third-party technical management, crewing, and oil major tanker relationships.

Regional players

• Maran Gas Maritime: Greek LNG carrier operator affiliated with the Angelicoussis Group; relevant as a Greek-headquartered peer in tanker/gas carrier management, though primarily an owner rather than third-party manager.

Broad incumbents

• MSC Shipmanagement: In-house ship management arm of Mediterranean Shipping Company, one of the world's largest container liner groups. Comparable on full-service ship management and manning infrastructure, but operates primarily for the parent group.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/minervamarineagencyincorporated
• LinkedInlinkedin.com/company/minerva-marine-inc-

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Minerva Marine