We provided shipping services to our customers through our fleet of vessels which comprised controlled vessels and chartered-in vessels.

Our fleet of controlled vessels predominantly consisted of dry bulk carriers and several other vessels such as oil and chemical tankers. Our controlled vessel fleet is comprised of vessels which we self-owned; jointly-owned with our business partners; chartered from finance leasing companies under finance lease arrangements; chartered from vessel suppliers under bareboat charters, and our vessel fleet also consisted of dry bulk carriers which we chartered from our vessel suppliers predominantly on a time charter basis.

Our dry bulk carriers transported all major types of dry bulks including coal, grain, steel, logs, cement, fertilizer, and mineral ores. We also transported petrochemical products through our oil tankers as well as asphalt and molten sulphur through our chemical tankers.