Strategy
The Company's strategy is to become one of the leading companies within the market for transportation of dry bulk. 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 shareholders.
The Company will have a fully integrated commercial management responsible for all vessels and contracts. The Company will outsource the technical operation and crewing of any owned vessels to a few leading ship management companies.
The Company will focus its activities to the panamax and capesize market. Due to the competitiveness of the commodity shipping markets the Company will target low overhead and daily ship operating costs. The Company will seek to optimize its investment and divestment decision as well as the short and long chartering positions as a function of the cyclical nature of the business.
In order to optimise the return to equity holders, the Company will seek financing which will include an attractive combination of debt and equity. The Company will, in connection with ownership of vessels, focus on the overall cash break-even rates needed to support the specific project as well as the Company. To balance the risk the Company might seek charter coverage in the physical and financial markets.
The growth of the Company can be achieved by acquiring additional tonnage through individual purchases, en bloc purchases, as well as 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 will seek to position itself as an attractive investment vehicle for public investors. The major building blocks to get into this position will be transparency, good corporate governance, a strong management team, a competitive cost base, active business dealing, attractive long term equity return as well as a shareholder friendly information philosophy. An efficiently priced equity is a major condition for the growth of the Company. Through an attractively priced equity, the Company can act as a consolidator in a highly fragmented market.
