Our Fleet Manager
The technical and day-to-day commercial management of our fleet is currently the responsibility of our wholly-owned subsidiary, Globus Shipmanagement Corp. ("GSC"), which currently has ship management agreements in place with each of our vessel-owning companies. Under the various ship management agreements, GSC provides the wholly-owned shipowning subsidiaries with the following specific services::

arranging the employment of the ships on voyage or time charter basis;

recruiting and employing seamen and arranging for the execution of the contracts of employment;

settling and attending the payment of all salaries and compensations and travel expenses to the crews and their families in accordance with law;

attending to the due and regular operation and performance of the ships and following operations concerning loading and discharging, settlements of claims, surveys etc;

settling any fiscal or tax charges concerning the ships;

attending to the maintenance, repairs, modifications, supply and classification requirements of the ships;

carrying out the supply of the bunkers, lubricants and other kind of materials, stores and provisions;

appointing shipping agents at any port of the world and processing the reimbursement of the said local port agents subject to the applicable accounting and representation principles;

attending to all matters concerning contracts with the supply of bunkers, lubricants, spares, stores and other materials;

attending to all matters concerning social security provisions concerning the ships' crews;

receiving and paying monies in the name of the vessel-owning company and maintaining accounts at any bank in any other country in any currency; and

negotiating and executing contracts for the modification or repairs in shipyards worldwide, subject to the previous consent of the vessel-owning company and its final approval and generally performing every and all actions necessary for the accomplishment of the above or in connection therewith.