Commercial management encompasses all forms of vessel employment performed on the owner's behalf, from spot to ongoing employment, whether on a time charter (bareboat) or voyage charter basis.
Additionally, it involves offering the three major service categories that the Company as Managers provide to its clients:
According to BIMCO's Standard Ship Management Agreement "SHIPMAN 2009," chartering is a crucial part of any commercial management process and includes, among other things, "seeking and negotiating employment for the Vessel and the conclusion of charter parties or other contracts relating to the employment of the Vessel." For each ship cruise, we offer a single-time charter (a "time charter trip") or, when necessary, a period of employment.
In order to maximize revenues and guarantee that tonnage is positioned to most benefit from the continuously shifting market conditions, we aim to acquire the greatest job that is readily available. All potential new business partners and charterers are checked as a matter of priority and for security.
Furthermore, future business developments will focus on building and strengthening relationships with cargo interests and securing contract employment for the expanding fleet.
Operational management is an essential component of commercial management. In this area, money can be made or lost and journeys can be made more or less profitable. All ships are handled safely, effectively, and with the smooth execution of all journeys by our skilled ship operators.
Our capable ship's masters, as well as charterers, brokers, port agents, and bunker suppliers, are always connected with us.
Due to the fact that our operators are fully aware of the critical importance of the impact their work will have from a commercial standpoint in the context of the highly competitive environment in which shipping operates, there is constant communication between the commercial department and the operators to ensure that any/all potential problematic situations that may arise are handled promptly and effectively.
It is difficult to think of how the modern model of commercial management could function without a comprehensive system of tools like laytime, voyage estimating and accounting, actual voyage results calculations, full load calculations, advice on the shortest routes for the vessel, calculation of hire, freights, demurrage and despatch monies from or due to the charterers of the Vessel, accounts control, and performance analyses in the form of time charter equivalent for any period required.
The efficiency of the shipping industry depends on our capacity to complete the aforementioned activities with the aid of modern ship management, accounting, and marine IT systems.