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BRIEF DESCRIPTION OF TRANSMARINE MANAGEMENT ApS
(ApS registration number 151957)

Transmarine ApS was founded and commenced business in December 1982, primarily as a Ship Management Company for external clients.

The Company also offers Management Services in financial and shipping related activities and is based in Copenhagen, Denmark.

In August 1986 the Company name was changed to TRANSMARINE MANAGEMENT ApS in order to more clearly define the Marine Management function.

The Company acts solely as Ship Managers/Agents to clients (Owners or Charterer’s of ships) and operates a policy whereby it is financially independent from its clients. It is not involved in part-ownership or other financial investments in clients and/or their vessels and by the same token Clients have no vested interests in Transmarine Management ApS.

The management of the vessels is carried out on a strict contractual basis for an agreed fee. A standard BIMCO approved contract form is normally used.

The economic responsibility of the vessel is borne solely by the owner/timecharterer. Eventual sea-going personnel are employed directly by the clients (owners) and also paid by them, as are stores, bunkers, port costs, provisions, spares and repairs etc.

Funds are provided by the respective clients who in turn give Transmarine Management ApS power-of-attorney to handle the payments of day to day operational and running costs.

Being a small organisation means flexibility, short communication lines and the ability to act fast and swiftly.

 The ship management services can include but are not limited to:

• Supply of provisions, stores and spare parts
• Registration, Classification and Flag state certification
• Technical management, Safety management, Time Charter management
• Legal and Insurance assistance
• Operation of vessels
• Bunkering arrangement
• Demurrage calculations, invoicing an follow up/collecting
• Voyage and vessel’s performance reports
• Accounting
• Budgeting
• Sale & Purchase
• Financial management

Since its inception in 1982 the Company has technically managed a number of vessels of varying type and tonnage including: Bitumen Carriers, Container vessels, Dry cargo vessels, Product tankers, Chemical tankers and Crude Oil tankers ranging from 1.000 - 110.000 tonnes deadweight. Furthermore has the Company had Time Charter management on a number of product tankers ranging from 15.000 – 35.000 tonnes deadweight. The vessels have been trading worldwide.

We have during the years been able to establish favourable credit terms with a number of suppliers of goods and services worldwide.

The company is using computer based telex, e-mail and telefax communication systems with connection to the private addresses of key staff such that a 24-hourly availability service is operated.

Transmarine Management ApS has issued comprehensive Management Policy and Operational Manuals in accordance with ISO 9001 and International Safety Management (ISM) Code as adopted by IMO resolution 741(18) for the safe operation of ships and pollution prevention.

The Company is in possession of the Document of Compliance (DOC) to the ISM Code and all vessels currently managed by the Company hold Safety Management Certification (SMC).

The Company is in possession of ISO 9001 certificate issued by Germanischer Lloyd.

The company can operate vessels trading within the U.S. Economic Zone and is familiar with State, Federal and U.S. Coast Guard regulations and to OPA 90.

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www.transmarine.dk

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