Swiss Marine

BACKGROUND

	SwissMarine is a Cape and Panamax service-provider which commenced operations in 2001. It has become a world class freight provider controlling in excess of 50 capes and 25 panamaxes. Revenues rose strongly from USD 200 million in 2001 to exceed USD 1 billion in 2005 and over USD 2.8 billion in 2008. In 2008, the volume of cargo carried exceeded 65 million metric tons. Swissmarine is managed by a team with a long history of building and running bulk freight trading businesses.

CONCEPT

	SwissMarine is different from most freight operators in two respects : 1. It believes that its reason for existence lies in being a service provider to its client base. 2. It has a major focus on just a few routes. Most of our business is generated by providing advice and quotes to our customer base during the sales process. We aim to sell as cheaply as possible to our customers, i.e. to create cost effective transport solutions by utilizing combination cargoes, cost savings through volume, and through utilizing FFA's or other hedge tools. Besides this service aspect of our business, we will use the information generated to trade for our own account. Most of the time this involves taking spread positions and nearby speculative/flat price positions. Whilst doing this we believe we can only deliver superior value to our customers by focusing on just a few routes. These are WC Americas (inbound and outbound), Richards Bay to Europe (plus inbound trades to those areas) and Colombia to Europe. This allows us to combine in- and outbound cargoes, create combination liftings, achieve cost savings and in general provide superior market knowledge about these niches. We will occasionally handle other traffic for our customers. However this will always be on a less dedicated and more opportunistic basis.
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