Affiliates

Antares Shipmanagement S.A

Glyfada, Greece

Email: antares@otenet.gr

Antares Shipmanagement SA is a ship operator for the purpose of managing owned oceangoing bulk vessels and operating commercially third party ocean going bulk vessels.

One of the main success factors, critical to the Antares Shipmananagement’s growth is its reputation and the construction of long term relationships with first class charterers' resulting from its quick response, efficiency and professionalism demonstrated in the provision of qualitative and prompt services to accommodate charterers’ cross-boarder demanding needs.

Management performs a number of high level procedures to ensure that the business operates in a well-controlled environment and in an effective manner. Particular emphasis is given to respect, trust and investment in the proper human resources as well as relationship and commitment management with charterers and the sectors of interest.

The company ensures compliance with the ISM /ISPS codes and it is accredited by Lloyd’s register.

The company’s strategy has been and will continue to be the build up of a fleet of high quality vessels with as little idle time as possible due to sound maintenance and operations.

Always under strict risk management practice, all management efforts are towards achievement of right balance between investments and maximum profits.

BUSINESS OPERATIONS & ORGANISATIONAL STRUCTURE

Antares Shipmanagement offices are run by a team of 18 on shore based professionals located in Glyfada Greece, covering all the activities involved in trading and ship-management.

Insurance and P & I Services

Antares offers insurance placement and claims’ handling services. Claims handling activities involve the processing and collection of evidence, negotiation, communication and collection of documentation (including if necessary on the spot attendance). Such steps constitute mandatory parts of an insurance claim and are followed up with efficiency from inception to the end.

Technical Management

Operations

Marine Maintenance
Relate to the continuous monitoring and supervision of vessels’ maintenance condition.

Daily Operations & Post-fixture Activities
Operations are closely cooperating with commercial and technical management personnel, daily liaising with vessels’ staff and their masters in all routine and non-routine aspects in relation to vessels’ daily operations and voyages.

Post-fixture activities relate to vessel operations, the calculation and collection of hire, freight, demurrage/dispatch, correspondence with charterers and chartered owners, handling of the cargoes, agents and the stevedores either directly or through established network of affiliates worldwide.

Crew Management
Antares Shipmanagement is outsourcing crew management activities to El Victor SA. El Victor is a well established crew management vehicle with offices in all manning supply countries like Ukraine, Philippines and Greece. The company rotates same crews with a 90% utilisation rate ending up in high quality personnel, being familiar with vessels under management. In addition cost savings are substantial as stipulated in the vessels daily running costs.

Quality Management Systems
Continuous monitoring and compliance with ISM/ISPS codes.

Technical Support

Vessels’ Monitoring & Maintenance
The technical team consists of a Technical Director, a Naval Architect, and two Superintendent Engineers with sea going experience. Such combination of skills allow for flexibility and broad-minded view for problem solving and decision making.

The company’s policy is to meticulously endeavour the performance of any “preventive” maintenance work by the vessel’s crew closely monitored via the monthly visits of the superintendent engineers. When necessary, the crew can be supported by a land based technical team to perform work that cannot be handled by the regular crew in the given time. This practice proved to be more effective than postponing work to be performed during the scheduled dry-docking or special survey periods. The performance of maintenance work during vessel’s trading time minimises vessels down time.

Engine Spares supply & Provisions
Responsible for provision of engine spares and repairs.

Certification & Compliance
Coordination and liaison with Classification Societies, Insurers, Flag Administration etc.

Procurement

Antares has the benefit of its own purchasing power. This enables the company to negotiate and optimise prices quoted before they are passed on to the Owners. The internationally recognized creditability of the company ensures the timely supply of items requested and provides a distinct advantage in cases of emergency. Any discounts or commissions are reflected in the invoices and are credited to the individual owners.

Financial Control, Accounting & MIS

The Finance, Accounting and Control department works within the framework of international accounting principles and standards. All ship-owning companies and charter-in or chartered contracts are audited on a quarterly basis by chartered accountants, PriceWaterhouseCoopers. The department is responsible for compliance with accounting policies and standards as well as for the preparation of adequate statistics and financial data. Within key tasks and controls, the department is responsible for:

• Preparation of management information on a monthly basis (including income and cash flow statements, operating costs, debtors/creditors ageing analysis, voyage estimations and results)
• Daily and monthly reconciliations
• Primary input and control of all accounting entries
• Creation of accounts and trial balance checking
• Monitoring of pending/intermediate accounts

Corporate Governance & Compliance

Corporate Governance sets the framework on how the company should be governed and controlled, reviews related party transactions and establishes necessary controls to avoid cases of conflict of interest of BoD members and management. Compliance is responsible for adherence with relevant regulations, the articles of association and relevant legislation. Internal control reviews are conducted periodically on key procedures and operations.

Human Resources

The human resources of the company are the most valuable part of its assets. HR is responsible for staff recruitment, remuneration, benefits, grading, training and performance appraisal.

Legal Services

The company employs an ‘in house’ shipping lawyer who provides legal support and monitors corporate legal matters as well as provides legal advice in handling of insurance claims and post fixture matters.

IT

Responsible for IT procurement execution and monitoring, IT users’ and applications’ support, IT maintenance and evaluation of infrastructure investments and projects.

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