Eitzen Bulk A/S

Contact Information

About

Eitzen Bulk is conducting its business as both ship owners and operators, and apart from the head office in Copenhagen. Eitzen Bulk has representative offices in New York, Rio de Janeiro, Singapore, Hong Kong and Melbourne. BUSINESS IDEA "We aim to be market leader in providing value-added and cost effective transportation services to our customers with focus on high ethics and quality". VISION "EITZEN BULK shall continue to be recognised as an aggressive and innovative cargo/customer driven dry bulk operator within the Handy, Handymax and Panmax segments with continued emphasis on Handymax supported primarily with Handy and secondarily with Panmax activity". "It is an important long term ambition of EITZEN BULK to gradually develop into an enhanced supply chain provider, also getting involved in shore based operations incl. cargo handling, warehousing, transhipment facilities etc." As also stated above, the activities of EITZEN BULK are very customer orientated. By having focus and emphasis on high quality and high ethics combined with value-added and cost-effective transportation solutions, EITZEN BULK has gained a position as being one of the largest operators within the Handymax dry cargo sector on a world-wide basis.

PROFILE EITZEN BULK A/S, Copenhagen was established as Tschudi & Eitzen Bulkers (DK) A/S early 1997 when Tschudi & Eitzen Bulkers ASA, Oslo purchased EAC Shipping A/S, Copenhagen from The East Asiatic Company Ltd. A/S as a going concern. 80% of the shares are held by Camillo Eitzen & Co. AS, Oslo via its fully owned subsidiary Camillo Eitzen (Denmark) A/S, Copenhagen. Management and senior staff of the company hold the remainder 20%. EITZEN BULK is conducting its business as both ship owners and operators, and apart from the head office in Copenhagen EITZEN BULK has representative offices in New York, Rio de Janeiro, Singapore, Hong Kong and Melbourne. Typically, on any one day, EITZEN BULK operates a fleet of about 60 vessels mainly consisting of Handymax vessels (35-55,000 DWT), and in addition Handy size (25-35,000 DWT) and Panmax (60-75,000 DWT) bulkers are employed. The fleet has a total carrying capacity of about 2.5 mill. DWT. The first vessel in a series of 6 Handymax newbuildings ordered at Oshima and Imabari shipyards in Japan was delivery on 21st January 2003 and named "SIBULK PREMIER". In June 2003 this vessel was sold to German owners and taken back on long term period charter. The remaining 5 newbuildings will be delivered during 2004 and 2005. The backbone of EITZEN BULK's activities is a portfolio of contracts of affreightment, which are being entered into with a diversified range of large international companies as well as a substantial amount of spot shipments - arbitrage - which are being carried for a series of very close customers. In 2003 the total volume of carryings amounted to 17.2 mill. tons mainly consisting of forestry products (primarily pulp wood logs), fertilizers, steel products, coal, petcoke, alumina, cement clinkers, iron ore, coke and concentrates. For loading and discharging at ports with no or inadequate cargo handling facilities EITZEN BULK operates a large fleet of Peiner grabs with a capacity of 10 cubic metres. The grabs are interchanged in sets of three or four between strategically chosen locations world-wide. Whereas volume in itself is not an objective, it is extremely important for EITZEN BULK to have a critical mass within its segment and thereby be an important player in the market, who the cargo owners can always consider as their potential partner for their transportation needs. EITZEN BULK's most important tool is its staff, and it is its aim at any time to have the most professional and well-motivated organisation to support its business idea and vision. In addition it is the obvious objective at any given time to equip all offices with state of the art operations and IT systems.

Keywords