Capital Link Shipping Forum Analyst & Investor Day

S H I P P I N G C O M P A N Y P R O F I L E S
Hellenic Carriers, Ltd.
www.hellenic-carriers.com
Hellenic Carriers Limited (LSE: HCL.L), incorporated in Jersey, owns and
operates through its subsidiaries a fleet of dry bulk vessels that transport iron
ore, coal, grain, steel products, alumina and other dry bulk cargoes worldwide.
The fleet currently consists of six vessels, comprising four Panamax vessels,
one Supramax and one Handymax with an aggregate carrying capacity of
372,742 dwt and an average age of 15 years. Hellenic Carriers is listed on the
AIM of the London Stock Exchange, since November 2007, under the ticker
HCL.
Over the years, the Company’s senior management has demonstrated an
excellent track record in vessel management and operation. They are third
generation ship owners and operators with a family tradition in shipping going
back to the early 1950's. They combine this tradition with the dynamic and
forward-looking approach of a younger generation.
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CEO Message
Fotini Karamanlis, Chief Executive Officer
of Hellenic Carriers, commented: "Since our
IPO, we have expanded our fleet from four
to six vessels and have continued with the
consistent implementation of our strategy
seeking to strengthen our balance sheet,
enhance cash flow visibility and reinforce
liquidity.
We successfully restructured time charters agreed prior to the market downturn
in Q4 2008, preserved liquidity, reduced our breakeven levels and built up solid
cash reserves.
As a result, even in a challenging market environment, our Company achieved
healthy profits for the financial years 2008 and 2009, whilst maintaining its
dividend payments.
Our intention is to continue growing by expanding and modernising the fleet
through investing in high quality new building or second hand dry bulk carriers,
preferably in the Panamax / Supramax sector, as we believe that these vessel
types carry a wider variety of cargoes and can trade over a more extensive range
of routes. We believe that market conditions are favourable to implement this
strategy. We therefore look forward to continue expanding the business
prudently by seeking out acquisition opportunities and in parallel, forging closer
ties with existing Charterers as well as developing relationships with new
counterparties for the continued profitable employment of the Company's fleet.
Despite the medium term risks and uncertainties, we are optimistic regarding the
longer term outlook of the dry bulk industry. Demand for core dry bulk materials
continues to be strong in the Far East, especially China, and lately India. At the
same time, new building deliveries continue to lag significantly behind the
nominal schedule, and factors such as port congestion have a positive effect on
the market.
With our efficiently run fleet, visible and stable cash flows, healthy balance sheet
and strong liquidity, we are confident that Hellenic is well positioned to face
market challenges and maximize the long term value for our shareholders."