The Company

HISTORY

Lessons Through History

Queensway Navigation Co. Ltd. was established in 1990 as a ship management company, with its Head Office located in Piraeus.

Our founders bring a wealth of experience, with over 40 years of presence in the maritime industry. Their vision and expertise have been the foundation of our growth.

We have always been, and will continue to be, dedicated to continuous improvement through the development of our people. It is this commitment that has enabled us to build and maintain a strong reputation, grounded in dignity, respect, and a deep knowledge of our profession.

Since our inception in 1990, we have successfully managed more than 30 vessels, reaching a peak of 14 vessels in service at one time. Our journey has been one of hard work, perseverance, and a relentless drive to excel in the maritime industry.

Our journey

1990

Founded in Piraeus, Greece, Queensway's first managed vessel was the M/T VEMAOIL, a 21-year-old oil tanker of 2,842 dwt.

1995

Queensway purchased the M/T VEMAOIL XXXV, a 35,000 dwt oil tanker, which became the first floating storage tanker in Gibraltar, reinforcing its commitment to a leading role in the region's bunkering sector.

1999

After years of successful cooperation with Georgian seafarers, Queensway established its own manning agency, Queensway Services Ltd., in Batumi, Georgia.

2000

Queensway further developed its fleet with the addition of the M/T VEMAMAGNA, an Aframax tanker with a deadweight of 87,000 dwt.

2003

Queensway continued to expand its fleet with the purchase of additional oil tankers, including two Aframax-size vessels, M/T WILMINGTON and M/T VEMAOCEAN, for worldwide trade purposes.

2004

The M/T VEMABALTIC, an Aframax tanker of 107,307 dwt, joins the fleet, further strengthening Queensway's presence in the global market.

2005

In response to industry legislation changes, Queensway launched a plan to convert a series of single hull vessels to double hull. The first vessel to undergo conversion was M/T VEMAOIL XV, with the vessel's beam expanded to meet the new standards.

2006

Queensway’s fleet reaches a peak of 14 vessels under management. The conversion plan from single-hull to double-hull is successfully completed, with the final vessel, M/T VEMAOIL VIII, undergoing extensive modifications, including the use of 135 tons of new steel, piping modifications, and other works, all completed in just 40 days.

2007

M/T VEMACAPE becomes the first Panamax-size vessel in the fleet, marking a significant milestone in Queensway's expansion.

2009

Queensway continues to develop its fleet with the additions of M/T VEMAOIL XIV and M/T VEMAOIL XXIII.

2012

In the first half of 2012, Queensway moved to new premises. In the second half of the year, the company further expanded its fleet with the purchase of M/T VEMASPIRIT, an Aframax-sized oil tanker with a deadweight of 107,169 dwt.

2014

Queensway made a major investment to expand its activities in the asphalt sector with the acquisition of its first asphalt carrier, M/T SUNPOWER. As part of its strategy to focus on more rewarding sectors, the company also sold its last Aframax-sized tanker.

2017

Queensway began expanding into the chemical and oil product tanker sector, with the purchase of its first vessel, M/T VEMAHONESTY.

2020

Queensway further developed its oil/chemical fleet with the addition of M/T VEMAHARMONY and M/T VEMAHOPE.

2022

Queensway successfully acquired two more oil/chemical tankers, M/T VEMADIGNITY and M/T VEMAGRACE.

We are many things, mainly professional ship managers, but first of all, we are a family and thus we shall remain.