Ethnarchou Makariou 2 & Posidonos Avenue, 17455, Kalamaki, Athens, Greece  |  Email: venmar@venmar.gr |  Tel.: 0030-2109859464, 0030-2109858193 | Fax: 0030-2109859465
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COMPANY - PROFILE

 

SUMMARY

VENMAR S.A is a Ship management / Ship owning Company organized under the laws of (Panama) and is formed since 2000 a provider of worldwide marine transportation services of dry bulk cargoes through the ownership, management and chartering of dry bulk carriers. Our aim is to become one of the leading companies within the market of transportation of dry bulk up to the class of HANDYSIZE, HANDYMAX, SUPRAMAX, PANAMAX, POST PANAMAX (18000 up to 92500 dwt), to operate transportation of homogenous commodities in bulk like fertilizers, steel products, cement in bags, sugar, wheat, e.t.c. and to manage commercially and technically Drybulk and Multi purpose vessels for the growing intra trade parcel cargo market.

The Company’s vision is to provide customers with a flexible and reliable transportation service, and to use this flexibility to develop unique industrial relations that will give material benefits to the customers as well as superior returns to the company’s invested equity.

The growth of the Company can be achieved by acquiring additional tonnage through individual purchases, en bloc purchases, as well as at a later stage small or large corporate transactions. The growth can also be achieved through entering into major short or long term contracts for transportation of goods and chartering of vessels.

The company is seeking to position itself as an attractive investment vehicle for institutional lenders and private investors. The major building blocks to get into this position will be good corporate governance, transparency, our strong management team, a competitive cost based on synergies within our shareholders, active business dealing, attractive long term equity return as well as a lender friendly information philosophy.

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STRATEGY - OBJECTIVES

Venmar shipmanagement sa Growth Strategy

  • Acquire and Operate a Diversified Fleet in Selected Markets, preferable sister ship vessels providing us with efficiencies in meeting our customer’s needs, enhancing the revenue generating potential allowing us to service virtually all major ports and routes.

    1. Handy size bulkers of approx size 18.000 dwt up to 35.000 dwt
    2. Handymax size bulkers of approx size 36.000 dwt up to 45.000 dwt
    3. Supramax / Panamax / Post Panamax 92.500 dwt

  • Capitalize Ven’s (commercial manager – Technical manager) reputation for High Operating Standards maintain at the same time Low Cost and Highly Efficient Operations by taking advantage of chartering market best level rates
  • Strategically deploy our fleet between time charters for the larger vessels, which can last up to several years, and spot market voyage charters for smaller vessels assisting in generating increased profit margins during periods of strong rates, while vessels on time charters will provide us predictable cash flows
  • Initiate, Enhance and Continue Long-term relationships with Major End Users/charterers/cargo owners/operators
  • Carefully selecting vessels for its clients.
  • Competitively commissioning and actively supervising cost-efficient shipyards to perform repair reconditioning and systems upgrading work.
  • Following a proactive preventive maintenance program both ashore and at sea.
  • Employing professional well trained masters, officers and crews.
  • Strategically deploy our fleet between time charters, which can last up to several years, and spot market voyage charters assisting in generating increased profit margins during periods of strong rates, while vessels on time charters will provide us predictable cash flows.

We consider that our leading position is attributable to the following strengths:

  • High quality,High specification Drybulk / Multi Purpose Vessels (MPP)
  • Experienced management team
  • Experienced chartering team
  • Highly Cost-Efficient Operations
  • Flexible Geographic and Trade Route Profile
  • Strong Customer Relationship
  • Ensuring Our Customers Needs are Prioritized
  • Focus on Sister Ships

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FOCUS

Our Company’s focus on handysized Segment

Handysize segment exhibits less volarity, favourable orderbook dynamics, and an aging fleet profile (ensuring demand for younger tonnage). Additionally, this segment demonstrates increased operating flexibility due to their size which presents few,if any, restrictions on the ports upon which it calls and the cargoes it can carry.

According to available market data,the worldwide Handysize fleet has been shrinking since the third quarter of 2008. Handysize segment in which VENMAR operates is the only dry bulk segment where scrapping exceeded newbuildings, a trend we expect to continue due to the average older age of the segment’s fleet. While we acknowledge that numerous challenges in the trade and financial sectors remain, we continue to see support during recent weeks in 2010 towards more favourable rates and are ancouraged by the improving strength in the charter market.

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GOAL

Distressed Vessel Values and Market Consolidation

Referring to our present executive summary and considering current trends especially in the drybulk shipping sector, we would like to underline that our intention is to grow the projected fleet using our management’s knowledge of the seaborne transportation industry to make accretive, timely and selective acquisitions of vessels, based on a number of financial and operational criteria, while vessel values are currently highly distressed.

Our aim is to utilize our know-how to explore growth opportunities that appear from the current challenging conditions in the shipping market, securing the best available options for the invested equity.

The international drybulk shipping industry is highly fragmented and is divided among state controlled and independent drybulk vessel owners. As a general principle, the smaller the cargo carrying capacity of a drybulk vessel, the more fragmented is its market, both with regard to charterers and vessel owners /operators.

As a result, there remains significant potential for industry consolidation within the handysized vessel type sector which in the medium-term our buisiness plan is committed.

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Summary
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