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New commercial operator Maxima Shipping set to exploit freight markets

Maxima Shipping is a new commercial operator taking advantage of the favorable market condition to develop a large scale operation with credibility and efficiency.

The managing director of Ariston Commercial Services Mr. Nikolaos Nikiforos explained us “Maxima Shipping is a new transportation provider using solely time chartered ships in its fleet to perform its cargo commitments along with FFA’s.
Emphasis will be given in the physical side of the business while the FFAs will be used for hedging purposes. Ariston Commercial Services will provide the platform and support of the commercial management of the new company including marine operations and risk management.

Mr. Nikiforos pointed out that “Maxima will aim in becoming a major player in the dry bulk market within the handysize, supramax and panamax segments. Ariston and a number of Greek and foreign investors have invested in Maxima, but we are discussing to open the opportunity to more investors to be involved in this new venture.  We have pointed out that Ariston’s target is to provide the Greek shipping market a tool to exploit the transportation capacity and freight trading away from the usual asset play. This is an activity that can be met mostly in Denmark, Norway and Far Eastern countries and its purpose is to create a new trustworthy Greek entity in this sector.

Realizing our earlier plans we schedule the full implementation of our project in the beginning of 2010 as we believe that it is the right time for such an investment since the increased volatility and the expected low freight market will allow us to achieve better results and grow faster.

Mr. Nikiforos underlined that Maxima will focus on quality ships and will deploy all risk management techniques as a basic tool of its operation in order to be protected from the freight rates fluctuation and credit risk. “We will prefer to charter quality ships because of the better performance and the reduced risk they offer” said Mr. Nikiforos.

Ariston’s experience in commercial management is granted and proven. As it is well known Ariston’s founders Mr. Nikos Nikiforos and Christina Karalaki have an experience of more than 20 years in chartering and freight trading while the management team of the company are highly specialized and competent executives.

According to Mr. Nikiforos estimation, “in 2010 the shipping market will be volatile due to the deliveries of new buildings. Meaning that despite the anticipated higher demand for 2010, if materialized, the ships’ supply will exceed demand in most of the year thus the pace of deliveries will be influencing the levels of the market. The recovery cannot be defined as, for the time being; there are many unanswered questions for the supply and demand balance for the next two years. However in the longer run we are very confident that freight market will blossom”.

Mr. Nikiforos noted that he is optimistic for the course of Maxima Shipping irrespective of the market condition. Using the appropriate commercial management tools we are able to exploit the market opportunities ensuring positive results while maintaining the risk at acceptable levels”. “Our strategy has nothing to do with the course or the level of the market” pointed out Mr. Nikiforos.

Concluding Mr. Nikiforos mentioned that ‘regarding FFAs we intend to use cleared transactions and only for risk hedging”.  Taking advantage of our specialized management tools and our significant experience to secure profits in a risk adjusted environment we believe that Maxima will respond successfully to the expectations of our investors and partners.

ELNAVI - December, 2009

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