Parakou Shipping

SHIPPING BUSINESS
Shipowning Shipowning remains the center of our business. Currently Parakou controls a young fleet of 40 vessels with a total deadweight of more than 2,000,000 dwt tons . These include panamax, handymax and handy bulk carriers, product oil and chemical tankers.
ShipFinance Thanks to the good financial supports from various famous global bankers, financiers and trading houses, Parakou has earned a good reputation in shipfinance and enjoys a healthy and sound financial position, which is based on stable charter hire income, surplus in cash flow, punctual mortgage repayment, reasonable profits and substantial growth in net assets. So far, the aggregated amount of ship finance transactions has exceeded US$800million .
	New Building Over the past twenty years, Parakou has earned high reputation by placing over 109 new-building orders of different kind of vessels in various famous shipyards in Japan, South Korea, Taiwan and PR China.
	Sales & Purchase In constant pursuit of market expansion, our S&P team works closely together to pursue opportunities in market for secondhand vessels and various kinds of projects. Our services include Sales & Purchase, Ship finance and technical supports.
Ship Management Being accredited with ISM/DOC and ISO9002 standard since 1996, our Ship management team takes constant good care for vessels from our own fleet and for other shipowners. With numerous seafaring experience, our ex-captains, officers, and marine engineers work closely together rendering good support and assistance to shipmasters taking charge of our vessels abroad. Well established shipmanagement policies, exhaustive sets of rules and regulations are always in place to uphold the smooth operations and to prevent accidents. Contingency plans are at all time ready to minimize losses in any event. Our company has managed to maintain a relatively low insurance premium for the vessels, attributing to the excellent performance of our ship-management team. As part of our on-going efforts to enhance vessels safety, our vessels also take part in the state-of-the-art AMVER system, different awards have been granted by the U.S.C.G. accordingly. Our Hong Kong office takes care of the ship management of the bulk carrier fleet while Singapore office specializes in management of the tankers. To further consolidate and entrench itself as a tanker manager where safety and quality services are the keys, the Company undertook a series of measures since 2005 which includes stepping up the drive in crew training, participating in the Tanker Management Self Assessment program, targeting for ISO 14001/2004 Certification and deploying the PMS (Planned Maintenance Program) operating software of Teledata Marine Systemetc.

Manning Human resources are the most valuable assets of the Group. Only with professional and well experienced crew, the safe operation and value of the ship can be safeguarded. The Group invests to ensure the supply of quality shipboard personnel from different nationalities including China, Philippines and India. Within reasonable budget of manning costs, we undertake to recruit qualified crew through strict selection procedure and upkeeping their competence by continuous training and knowledge enhancement program through our training centers in China and Philippines.
	Chartering The majority of our vessels have been entered into long-term charters with the three first class state-owned shipping enterprises in China ( Cosco, China shipping, and Sinotrans) as well as first class charterers in Europe and America. Besides, we have been successful in contracting COAs and charter-in suitable vessels to perform such transportations. Chartering team also provides shipbroking services to shipowners and charterers for various time charter and voyage charter requirements.
	Ship Agency Sinoda Shipping Agency Pte. Ltd , our joint-venture company, was established in Singapore since 1990. Agency services are provided for our clients and our own vessels. Currently, the company provides agency services for about 20 vessels per month calling Singapore Port in average.