Stable cash flow from well established and reputable charterers.
All nine of our product tankers are employed on time charters, with well established and reputable charterers.
These charters should provide us with stable cash flow and high vessel utilization rates and should also limit our exposure to freight rate volatility.
Young and well-maintained fleet.
As of 2009 the vessels in our product tanker fleet have an average age of 3.4 years. All of the vessels have been built at shipyards with a reputation for constructing high-quality vessels, like Hyundai Mipo, STX Shipyard in South Korea, and Hyundai Heavy Industries.
We intend to maintain the quality of our fleet through our technical managers' rigorous maintenance programs. We believe that owning a fleet of well-maintained vessels will enable us to continue to operate our vessels with low operating costs, obtain favorable debt financing terms and secure employment for our vessels with high quality charterers.
Proven track record.
The company has a proven track record with oil majors' charterers and traders in efficient, safe and reliable operation of product tankers.
Sister ships.
Our fleet consists of two groups of sister ships, 2 Ice Class 1A Handymax product tankers and 3 pairs of Panamax product tankers.
The operation of sister ships can result in cost efficiencies and more chartering opportunities. Cost efficiencies can be achieved by maintaining fewer spare parts, because various parts are inter-changeable between sister ships. We believe more chartering opportunities should be available because many charterers prefer sister ships for their services due to various efficiencies and scheduling flexibility, they can achieve from the use of sister ships.
Experienced management team: We have a strong Management Team and Board of Directors, who have considerable experience in the management of the commercial, financial and operating aspects of international shipping activity.
Our company is dedicated to its' customers "needs and wants", so it provides directly and effectively services worldwide via the offices in Greece and the United States.