Maximising value to the end user
W Marine INC is a fully licensed and integrated ship management company, established in Athens, Greece by its founder, Mr Yiannis Sarantitis, in 2003.
In January 2004 the company was entrusted the M/V W-ONE, a Panamax dry bulk carrier vessel, for which commercial and technical management was provided until September 2006, when she was sold for further trading. Over the period where W Marine managed the ship, the company had the opportunity to fine tune all managerial tasks, define levels of responsibility and authority, both ashore and on board the vessel, whilst, at the same time, succeeding in providing a very reliable service to the vessel’s charterers.
The next phase in the development of the company consisted of its engagement to organise and supervise the construction of four Post-Panamax (92,500 mt deadweight) dry bulk carrier vessels, built at Taizhou Catic Shipyard in China. W Marine was fully responsible for the entire technical supervision, from the plan approval stage until the vessels’ delivery, a task that was completed in August 2011, with the delivery of the last vessel. This project required close co-operation with specialist consultants and marine experts, strict and attentive supervision during construction, planning for future compliance to forthcoming rules and regulations. During this contract, W Marine not only managed to fulfil its task successfully, but also managed to upgrade the specifications of these vessels and to filter through all norms of good seamanship, coupled with the latest available shipbuilding technology.
This project and its successful completion further proved the high level of expertise and capabilities of W Marine. All four vessels were delivered within the planned schedule time and praised from third parties for their high quality of build, their commercial versatility and for their economic performance. After the delivery of these vessels, the company was entrusted with their full management, both commercial and technical.
Another new vessel came under W Marine’s management in June 2013. As Kamsarmax N/B vessel (82,742 mt dwt) the M/V W-SMASH was acquired as a resale from STX Dalian shipyard in China and commenced trading upon delivery from the yard. Then in October 2013 a second Kamsarmax N/B vessel was entrusted to W Marine for management – the M/V W-PACIFIC (81,233 dwt). This vessel was built at Jiangsu Hantong Shipyard in China and commenced trading upon her delivery from the yard.
These vessels brought W Marine’s managed fleet to six – the W-ACE, W-EAGLE, W-SKY, W-SMASH, W-STAR and W-PACIFIC with a total deadweight of 535,564 mt and an average age of 2.3 years. All six are currently in operation, trading worldwide, serving a number of well-known charterers and shippers, such as Augustea, BHP Billiton, Bunge, Cetragpa, Cobelfret, Cosco, EdF, ENEL, Glencore, Noble, Norden, Oldendorff, Swiss Marine, Toepfer, Vale etc.
Since their delivery from the shipyards, the vessels under management have successfully completed 80 voyages and delivered over 6,300,000 mt of cargo, consisting mainly of thermal and coking coal, iron ore, and grains, representing approximately 60 per cent, 20 per cent and 15 per cent of total volumes transported respectively.
W Marine also has plans to expand its fleet, with an order for two, option two, vessels, to be built at Sainty Marine shipyard in China – the first due for delivery in the summer of 2016. These ships will be of a new design, developed jointly between W Marine, Shanghai Merchant Ship Design & Research Institute (SDARI) and DNV-GL.
Such a project fulfils the wishes of the company’s chairman, Mr Yiannis Sarantitis, to build up a homogeneous fleet in the Panamax to Post Panamax segment.
According to the managing director of the company, Mr Nikolas Triantafyllakis, this design came about in an effort to optimise the cargo lifting capacity of the vessels in areas with shallow waters, taking into consideration existing limitations in ports (eg like Orinoco, River Plate etc) as well as new ports under development, especially in East and West Africa and the trading opportunities that will develop via the new – widened and deepened – Panama Canal. Existing trading patterns were taken into account, together with future trade requirements, especially in the southern hemisphere, where the demand for the transportation of raw materials is increasing steadily and at a fast pace.
The end result is a shallow draught Post Panamax vessel of 84,000 dwt capacity at 13,50 metres, an LOA of 230 metres, a beam of 36 metres and total grain capacity of 100,000 cubic metres.
W Marine commissioned SDARI to develop said design and engaged DNV-GL to assist with hull and propulsion optimisation. The new design was completed in the last quarter of 2013 and it is now marketed as the Green Dolphin 84 S.
The new design incorporates a number of features designed to maximise its commercial exploitation (enhanced tank top strength to accommodate heavy cargoes, the installation of CO2 in cargo holds allowing for the transportation of IMO IMDG classified dangerous goods, the ability to transport semi -manufactured, or finished goods, like steel coils, steel bars etc), as well as a number of technological features, leading to the reduction of emissions, substantial savings in fuel consumption, enhanced vessel operation etc.
In the 11 years since it was founded, W Marine has built up a team of qualified professionals with whose assistance it specialises in the management of ocean going dry bulk carrier vessels, and is able to offer a complete spectrum of services. Today it currently undertakes the following activities in-house: sale and purchase, chartering, operations, technical management, marine & safety, supplies (deck and engine spares/stores provision), finance, accounting, crewing and sub-contracts insurance and crew recruitment to qualified third parties.
The company, through the vessels managed, enjoys an excellent navigational and trading record, thanks to the high level of professionalism of its seafarers as well as the attentive and vigilant shore management. This is also reflected in the PSC inspection records of all vessels under management, as well in the QUALSHIP 21 awards to four vessels plus the management company.
The company ensures that its vessels are staffed with experienced and suitably qualified officers and ratings, with properly assigned tasks and responsibilities, while experienced managers, combining substantial practical and theoretical knowledge, with a proven track record in the industry, handle shore operations.
Crew management is currently the most challenging aspect of all operations, since there is an acute shortage of qualified officers. In order to overcome this problem, the company has engaged a number of cadets, not only from the Philippines, but also from Ethiopia, and has embarked on an intensive training programme for all its officers and ratings, aiming to increase safety awareness on board, as well as to promote and preserve seamanship values.
Both the onshore and offshore management is highly interactive and complementary in a way that ensures that all operations adhere to, and satisfy the strictest quality and safety standards of the industry. All latest communication and technological facilities are in place, enabling complete and uninterrupted provision of management services 24 hours per day / seven days per week.
According to Mr Triantafyllakis, the company strives to ensure that vessels under its management must, at all times, be able to perform their commercial obligations to the full extent, in an efficient, safe, cost effective, and reliable manner.
Overall, the approach from W Marine encompasses lean, efficient, fast decision making, maximising the value of available resources, and aiming to offer a competitive and reliable service to its clients.
W Marine INC
Fully integrated ship management company
Excellent safety, operational and trading records
Seamanship values at the cornerstone of management
Developer of the Green Dolphin 84 S