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Ancora Investment Trust Inc. (ID: 3409)
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Our mission is to cover our clients' needs with our professionally operated tankers fleet, in a most efficient way, warranting a safe, cost effective and trouble free transportation of oil product cargoes. Ancora Investment Trust Inc was founded in 1986 and was incorporated in Liberia. The company has been registered in Greece under Law 89/1967. Ancora purchased its first vessel in November 1986, a handy sized bulk carrier. During the next 10 years 12 more handy and Panamax sized bulk carriers were bought and operated successfully. In 1996, Ancora decided to change its operating strategy and move into the tanker market focusing its activities only in the transportation of petroleum products. Today, the company is an established international provider of seaborne transportation services for refined petroleum products with its fleet of a) 7 handy-size product tankers, b) 2 handy-size, double-hull newbuildings on order with SHINA SHIPBUILDING CO., LTD., KOREA, with delivery in 09/2004 and 03/2005 respectively and c) 2 option 2+2 double-hull, 5.600 dwt Product/Chemical IMO III Tankers on order with NOK BONG SHIPBUILDING CO LTD., KOREA, with delivery starting in 03/2005. From its Glyfada operating headquarters, Ancora offers both short and long-term charters to customers which include major oil companies, oil traders and shippers. The Ancora fleet transports refined petroleum products such as gasoline, fuel oil, diesel oil and naphtha. Management believes that, in recent years, Ancora has established a reputation in the international shipping community for the highest standards of safety, performance and reliability, all of which are critical factors for customers that demand dependable vessels. Ancora has many long established customer relationships in the tankers market and believes it is well regarded within the international shipping community. During the last five years, Ancora's vessels have been chartered to several major oil companies and traders. Customer relationships are of paramount importance. Ancora believes that it has significant competitive advantages in the Handysize tanker market as a result of the quality and type of its vessels and close customer relationship. The founder members of the group are Messrs. Nicholas Paraschis, Ancora's Managing Director and Constantine Vernicos. The Group is presently comprised of 7 individual ship-owning companies and the wholly owned subsidiary Medbulk Maritime Management, a recruitment and training company in the Philippines. Headquarters Ancora is headquartered at an owned, modern building in Glyfada, denoting its long-term commitment in its shipping business. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt CAPs On Board Attendance Vettings Unscheduled Repairs Ancora's strategy is to maintain its commitment to the Product Carrier market. Through the specialization it has achieved over the years in this sector, Ancora will continue to provide the best possible service to its clients fully covering their transportation needs. To this effect, we will do everything within our power to continue to make available to our clients a well maintained, professionally manned and effectively operated fleet of Product tankers and maintain the highest management standards regarding Marine Safety, Safe Working Practices and Protection of the Environment. Ancora is committed to strengthen its long-term relations with existing clients and will spare no effort in identifying areas where we can improve our service, always for the benefit of our clients. At the same time we will continue to try to develop strong, long- term relations with oil majors, traders and state owned companies in order to broaden our client base. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt CAPs On Board Attendance Vettings Unscheduled Repairs Ancora was one of the very first Greek shipping companies to receive ISM Code and ISO 9002 accreditation from Lloyds Register for all the vessels under its management and the shore-based operations. Ancora considers Safety and Environment as two areas of paramount importance. Every effort is made for their effective control in order to prevent casualties. In accordance with the IMO's International Safety Management Code, Ancora has developed a Safety Management System (SMS) which was incorporated in the ISO 9002 Quality System. The SMS is designed to ensure that Ancora's activities are sufficiently controlled to protect personnel, property and environment from all risks and hazards that can be reasonably foreseen. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training CAPs On Board Attendance Vettings Unscheduled Repairs Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt Ancora places a great emphasis in attracting qualified crew-members, realizing their very important role in the proper operation and safety of the vessels. Therefore, in 1994, it established the wholly owned subsidiary Medbulk Maritime Management in the Philippines to provide and train permanent staff to man its ships. In 1998, this company was accredited the ISO 9002 by Lloyds. In order to select the best possible crew available, Ancora has a program in place, in cooperation with the J.P. Lacson Academy in the Philippines, educating deck and engineering cadets. This program is based on scholarships granted for the full 4-year education period, of which one-year is training on board (sandwich course). Since 1997 when this program was initiated, Ancora has selected 32 cadets from the IMO (top) class of that Academy, and granted them a full scholarship. By now, eight graduates are working on board as 3rd Officers and 4th Engineers and 10 others are already (or are about to go) on board. The remaining 19 cadets are still on schooling. All these selected cadets may amply cover the short and medium-term needs of Ancora for well educated deck and engine officers. Following company's policy, all officers have attended special training courses enhancing their professional knowledge and skills. These programs are attended in Manila, at well reputed training centers approved by both the government and the IMO. They cover the subjects of: (a) Bridge Resource Management, (b) Ship Simulation and Bridge Teamwork and (c) Engine Room Resources Management. Moreover, the company has in place a training course, which is carried out on board its vessels on a regular basis. A qualified Chief Officer with a strong academic background and especially trained for this purpose is employed on a full time basis as instructor. The subjects he covers include a wide range of safety issues, pollution prevention, cargo/ballast operations, ISM Code requirements and implementation of company's SMS. Occasionally, external consultants are invited on board to perform special training programs. Prior to embarkation, all seamen are evaluated through the special program "Competence Evaluation of Seafarers CES 4.0," designed by Seagull A.S., Norway for that purpose. Their performance on board is continuously monitored through the Crew Appraisal Program. On a quarterly basis, the Master prepares an Appraisal Report for each officer and rating under his command. Additionally, the appraisal of the Masters, the Chief Officers, the Chief Engineers and the 2nd Engineers is made by the Superintendents and the senior management. The results are properly evaluated by the company and action is taken if necessary. The relationship between Ancora and its crew-members is based on mutual commitment. This commitment is evidenced by the high rate of crew re-employment with Ancora, which, for the last several years, is consistently over 95%. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt CAPs On Board Attendance Vettings Unscheduled Repairs Ancora places a great emphasis on management control and supervision of the operation quality and efficient performance of the fleet. In this respect, superintendent engineers and marine superintendents from the head office visit the vessels on a regular basis and spend several days onboard in order to monitor preventive maintenance schedules and ensure a minimum of down-time and off-hires. During the last four years, i.e. from 1998 through 2001, out of the total 10.429 operating days of the fleet, the aforesaid superintendents spent 5.880 human days on board, paying overall 659 visits which correspond to one visit every 16 days, on the average. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training CAPs On Board Attendance Vettings Unscheduled Repairs Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt The Ancora fleet, during the 7-year period ended December 2002, had only 84,4 total days of unscheduled repairs time, versus 16.630 total operating days of the same period. The corresponding 0.51% ratio is quite minimal as a result of the efficient maintenance program of the company. Mission Statement Company History Strategy Organizational Chart Key Personnel Background People Certifications/Safety Crewing-Training CAPs On Board Attendance Vettings Unscheduled Repairs Fleet Profile M/T Akti A M/T Artina A M/T Crown A M/T Horizon A M/T Pride A M/T Racer A M/T Runner A Newbuildings 40.000dwt Newbuildings 5.600dwt Our mission is to cover our clients' needs with our professionally operated tankers fleet, in a most efficient way. Ancora Investment Trust Inc.