Central Group

How much Wall Street shipowners are paying insider shareholders in related-party expenses

Originally published by

TradeWinds

By

Eric Priante Martin

Location

United States

Section

Finance

Publication date

11 August 2026

Some say they are conflicts of interest. The numbers show they are a big part of the business

The Nasdaq, whose market site is on Times Square, is the home of many shipping listings. — Photo: Scanpix

Key takeaways

Some say they are conflicts of interest. The numbers show they are a big part of the business
US-listed shipowners paid at least $800m in related-party fees and expenses to powerful insider shareholders or their affiliates in 2025, according to a detailed analysis by TradeWinds.
The figure shows the scale of a practice that continues to draw scrutiny from corporate governance experts yet remains commonplace in many shipping companies that access Wall Street’s capital markets.
The findings show the growing use of such transactions.

Reading time: 1 min

US-listed shipowners paid at least $800m in related-party fees and expenses to powerful insider shareholders or their affiliates in 2025, according to a detailed analysis by TradeWinds.

The figure shows the scale of a practice that continues to draw scrutiny from corporate governance experts yet remains commonplace in many shipping companies that access Wall Street’s capital markets.

The findings show the growing use of such transactions.

Original publication

View the original article on TradeWinds →

Central Group

War puts paid to $200m Dubai property deal for Evangelos Pistiolis

Originally published by

TradeWinds

By

Gary Dixon

Location

London

Section

Finance

Publication date

16 July 2026

Top Ships rejects chance to buy portfolio from controlling shareholder’s private interests

Top Ships chief executive Evangelos Pistiolis.Photo: Shipcom/CC0 1.0 Universal

Key takeaways

Top Ships rejects chance to buy portfolio from controlling shareholder’s private interests
Greek shipowner Evangelos Pistiolis has seen a major Dubai property sale fall through due to the Iran war.
His New York-listed tanker company Top Ships has rejected a chance to acquire the residential portfolio for $200m-plus from Pistiolis, the chief executive and major shareholder.
The shipping firm had agreed an option for the property in November 2025.

Reading time: 1 min

Greek shipowner Evangelos Pistiolis has seen a major Dubai property sale fall through due to the Iran war.

His New York-listed tanker company Top Ships has rejected a chance to acquire the residential portfolio for $200m-plus from Pistiolis, the chief executive and major shareholder.

The shipping firm had agreed an option for the property in November 2025.

Original publication

View the original article on TradeWinds →

Central Group

Pistiolis tanker outfit goes for second share reduction this year as stock drops

Originally published by

TradeWinds

By

Gary Dixon

Location

London

Section

Finance

Publication date

8 April 2026

Athens-based owner will carry out one-for-10 split

Rubico owner Evangelos Pistiolis.Photo: Shipcom/CC0 1.0 Universal

Key takeaways

Athens-based owner will carry out one-for-10 split
Evangelos Pistiolis-controlled Rubico is going for its second share cull in two months as it tries to boost the trading price.
The board at the Athens-based tanker owner has cleared a one-for-10 reverse stock split on Thursday.
This will reduce the number of outstanding shares to 757,000 from 7.57m.

Reading time: 1 min

Evangelos Pistiolis-controlled Rubico is going for its second share cull in two months as it tries to boost the trading price.

The board at the Athens-based tanker owner has cleared a one-for-10 reverse stock split on Thursday.

This will reduce the number of outstanding shares to 757,000 from 7.57m.

Original publication

View the original article on TradeWinds →