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 2004 the company began operations with the management of the M/V W-ONE (ex Antwerpia), a Panamax side dry bulk carrier vessel; following two years of commercial and technical management services, the vessel was then sold for further trading. During this period, W Marine 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 company’s next phase of development consisted of investing in four Post-Panamax (92,500) mt deadweight) dry bulk carrier vessels built at Tazhou Catic Shipyard, China. Fully responsible for the entire technical supervision of this project, W Marine took on a scope of work, from the plan approval stage up until the final vessel’s delivery in August 2011. This project required close co-operation with specialist consultants and marine experts, strict and attentive supervision during construction, and 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 in the design, coupled with the latest available shipbuilding technology. Upon its completion, this project further complimented W Marine’s capabilities, not only as an expert in the management, both commercial and technical, of dry bulk carrier vessels, but also in newbuilding construction.
With further vessels added to its fleet over recent years, W Marine today has a fleet of seven vessels under management; these dry bulk carrier vessels range in size between Kamsarmax to Post-Panamax and trade worldwide. The most frequent cargoes to be transported by the vessels, in order of descending volume, include coal, grains, iron ore and bauxite, followed by cement clinker, fertilisers, pyritic ash and palm kelner expellers.
Discussing the services offered by W Marine, Nikolas Triantafyllakis, Managing Director at W Marine, comments: “We are a fully integrated ship management company offering a complete spectrum of ship management services, ranging from N/B construction and supervision to full technical and operations management, supported by a team of well-qualified and experienced specialists. All vessels under management are effectively trading world-wide, serving the needs of customers across the globe and W Marine is known as an efficient, reliabl and safe operator.”
He continues: “From the trading pattern of the vessels under management we note that Post-Panamaxes have higher usage in the Trans Pacific and fronthaul trades, followed by Trans Atlantic and backhaul routes; this trend is also similar with the trading pattern of the Kamsarmaxes.”
Key to the company’s success is its team of qualified professionals who assume all managerial decisions and offer a full range of ship management services in-house. These include sale and purchase, chartering, operations, technical management, marine & safety, supplies, finance, accounting, crewing whilst insurance, as well as crew recruitment services are sub-contracted to qualified third parties. Moreover, W Marine, through the vessels managed, enjoys an excellent trading record, thanks to the high level of professionalism of its seafarers, as well as the attentive and vigilant shore management. The company has invested heavily in vessels’ safety and operational efficiency in an effort to reach the highest possible standards attainable in the industry; frequent training both ashore and on board and close supervision of daily on board activities do indeed ensure that such standards are maintained and this is reflected in the vessels’ Port State Control inspection records, minimum off hire, excellent insurance claims records, as well as the highest ratings awarded by independent vetting agencies.
While the dry bulk market went through a sluggish period during the first quarter of 2016, the market began to recover in the third and final quarter of the year in terms of freight rates and asset values. Following this pattern, 2017 is anticipated to be a stronger year, especially during the second half, partially due to the anticipated convergence between supply and demand, but also because of expectations of trade growth in the southern hemisphere. “Demand for seaborne transportation is stable and increasing in certain parts of the world as a result of industrialisation of emerging countries. Investment in the recently announced Silk Road by the government of China is set to rejuvenate trade in many countries along that road. In the meantime, new trading routes have emerged, such as exports of iron ore and bauxite from Eastern Africa, while the change in nutritional habits of large countries such as China / SE Asia bear a positive impact on grains trades,” says Nikolas.
As a ship management company in a challenging market looking ahead, W Marine is cautiously optimistic about the future, with plans to potentially expand the fleet in the pipeline, as Nikolas concludes: “Plans for expansion do exist and the decision boils down to asset values/condition/age of the vessels. We also believe that we have to integrate more in the logistics chain if we are to survive in the long run; alliances and joint ventures with major shippers/charterers is a must and can only lead to less volatility and healthier growth.”
Fully integrated ship management company
Excellent safety, operational and trading records
Specialise in dry bulk carrier vessels