Investment Projects

Our Growth Strategy

Investments in specific sector and specific size.

Segment: Panamax-type vessels
Size: 75,000 dwt – 95,000 dwt
Built: 2005 – 2012
Shipyard: Preference for Japanese built tonnage but may
consider reputable S.Korean and Chinese.

The Japanese design preferred due to low comparative fuel consumption.

Japanese built vessels are highly rated by Charterers for their commercial characteristics and operational.

Japan built tonnage traditionally retains highest residual values.

Employment strategy focused on period term contracts

Period: From 1 year up to 5 years time-charter dependent on market timing to provide a high degree of earnings visibility and reduce impact of potential market volatility.

Select contractual counterparties with strong reputational standing in the industry and financial resources to ensure good performance of employment contracts.

Why Panamaxes?

The best balance between market volatility and commercial flexibility.

Panamaxes have the commercial flexibility of smaller segments
combined with the market volatility of the larger segments, sitting
somewhere in the middle.

Commercial flexibility means more trading options with respect
to ports and cargoes.

Market volatility can provide better returns on freight and asset
values.

Chartering volatility is hedged physically via time-charter, safeguarding
revenue from the downside.

Why Grains?

The 3rd largest commodity by transportation volume.

Panamaxes are the largest vessels that transport grains, making
them the most cost efficient type of vessel for carriage of grains.

Grains are for used for human consumption and livestock food, making them humanitarian as a purpose of carriage, and environmentally
friendly.

Grain trade requires high standards of cargo hold maintenance,
meaning not all vessels are in a position to carry them.

The grain houses are considered a first-class group companies to work with as counterparties.

Affar Shipping Timeline

Feb 2025

Affar commences operations

May 2025

Delivery of the panamax

M/V Oak Anton 75,000 – DWT
Purchase Price: $9.3 million

Dec 2025

Commitment to acquire a postpanamax

MV TVR 92,000 – DWT
Purchase Price: $13.2 million
Delivery: Feb – Mar 2026

During 2026

Company plan to acquire more bulk carriers.