Company

Enter the tanker market.

Lead the way in new wave of shipping IPOs. Fastest ever shipping IPO and follow on offering; total proceeds in excess of $260m.

Fleet grew from 7 to 33 vessels becoming one of the largest double hull Suezmax and Handymax tanker operators in the world. Market cap grew from $135m to $672m in less than a year.

Went on the road with a committed fleet of 15 dry bulk vessels from AM Nomikos. Marketing of the deal was successful but didn't price due to unfavorable stock market conditions. Vessel values were up to 3 times higher just 1,5 years later.

Successfully disposed of 18 tankers at near peak levels through SLB transactions worth approximately $676m. Tanker charter rates and values subsequently receded to lower levels.

Sold 7 owned suezmax tankers and arranged the sale of 6 chartered in tankers and terminated respective leases. Last vessels delivered few weeks before Lehman Brothers collapse.

Fixed all dry bulk vessels on medium to long term charters at high charter rates.

Fixed all 6 newbuilding tankers scheduled to be delivered the following year, on long term charters at record high charter rates.

Took delivery of 6 newbuilding product tankers without diluting shareholders and entered into long term charters at rates that were more than three times the average spot rates.

Sold entire fleet consisting of 5 MR Tankers and 1 Supramax dry bulk vessel for $173 million.

Realized a significant part of the remaining value of the MR tanker charters achieving up to 40% premium on charter free valuations.

Purchased the company's first ECO MR Product Tanker.

Took delivery of two ECO MR Product Tankers.

Took delivery of three ECO MR Product Tankers.

Took delivery of one ECO MR Product Tanker. Entered into a 50%-50% joint venture agreement with Gunvor S.A. a leading oil trader.

Took delivery of three ECO MR Product Tankers (two of which in the 50%-50% joint venture with Gunvor S.A.).

Took delivery of two ECO MR Product Tankers and two ECO Suezmax Tankers. All vessels are scrubber fitted except for one MR Product Tanker that is Scrubber ready.

Renewed the fleet: sold eight older MR product tankers (Eco Revolution, Eco Fleet, Stenaweco Elegance, Eco Palm Desert, Stenaweco Excellence, Stenaweco Energy, Stenaweco Evolution and Eco California) and, through a 50%-owned joint venture, Eco Holmby Hills and Eco Palm Springs.

Took delivery of the ECO MR product tankers Eco Los Angeles and Eco City of Angels from Hyundai Mipo.

Acquired a 50% interest in the ECO MR product tankers Eco Yosemite Park and Eco Joshua Park.

Took delivery of two ECO Suezmax tankers, Eco West Coast and Eco Malibu, from Hyundai Heavy Industries.

Sold the MR product tanker Nord Valiant and three MR product tanker newbuilding contracts at Hyundai Mipo. Agreed the sale of Eco Los Angeles and Eco City of Angels.

Took delivery of the ECO VLCCs Julius Caesar and Legio X Equestris and the ECO Suezmax Eco Oceano CA, all employed on time charters from delivery.

Transferred the listing of the company’s common shares from Nasdaq to the NYSE American. Agreed to acquire the megayacht M/Y Para Bellvm.

Completed the acquisition of M/Y Para Bellvm.

Completed the spin-off of Rubico Inc., owner of Eco West Coast and Eco Malibu, now listed on Nasdaq.

Refinanced the operating fleet through sale-and-leaseback agreements with China Huarong.

Launched an MR newbuilding program: acquired companies holding contracts for nine 50,000 dwt ECO MR product/chemical tankers at Guangzhou Shipyard International, each with a seven-year time charter to Trafigura.

Sold two of the nine GSI newbuildings.

Acquired three 50,000 dwt high-specification, scrubber-fitted ECO MR product tankers under construction at Hyundai Vinashin, with five-year time charters to BP, bringing the newbuilding program to ten vessels.