Commercial Management encompasses the various modes of vessel’s employment on behalf of the owner, either on time charter (bareboat) or voyage charter basis, from spot to period employment.

It also includes providing the three main groups of services rendered by Company as Managers to their clients:

Chartering

Chartering is a core activity of any commercial management process which in accordance with BIMCO’s Standard Ship Management Agreement “SHIPMAN 2009” comprises but is not limited to “seeking and negotiating employment for the Vessel and the conclusion of charter parties or other contracts relating to the employment of the Vessel”. Depending on owners’ requests we provide for each ship voyage, single time charter (“time charter trip”) or where required period employment.

This function is carried out by our Vienna office for the handy, supra size and panamax ships and by our Odessa office for tonnage of up to 13,000 dwt. We aim to secure the best employment available in order to optimise earnings and to ensure positioning of tonnage to best take advantage of the constantly changing market conditions. As a priority and for security, all prospective new business partners and charterers are screened.

Furthermore future business developments will also concentrate on building up and strengthening relations with cargo interests and securing contract employment for the growing fleet.

Operations

The Operational aspect of commercial management is a crucial part of the equation. This is the area where money can be saved or lost and a voyage can be made more or less profitable. Our experienced ship operators ensure the safe and efficient handling of all the ships and the smooth execution of all voyages.

We are in constant communication with our competent ship’s Masters as well as with charterers, brokers, port agents and bunker suppliers.

Our operators are fully aware of the vital importance from a commercial viewpoint of the effect their work will have in the context of the competitive environment within which shipping operates and as such there is constant liaison with the commercial department to ensure that any/all possible problematic situations which may arise are dealt with promptly and efficiently.

Calculations, controls & accounting

It is hard to imagine that modern model of commercial management could exist without comprehensive system of such tools as voyage estimating and accounting, actual voyage results calculations, full load calculation, advising shortest routes for the vessel, calculation of hire, freights, demurrage and despatch monies from or due to the charterers of the Vessel, accounts control, performance analyses in the form of time charter equivalent for any period required.

All above tasks, which we carry out with assistance of up-to-date marine IT solutions, ship management and accounting software, are vital to the profitability of shipping business.