Farghai Ship Management Company was established in Istanbul in 1975. It did not take much time to Farghai Ship Management to initiate the progress of building its own fleet.
Main objective of the company establishers was to gain a status as a leading shipping company at the Black and Caspian Seas regions. However, practical experience and professionally trained staff have proved that the company should attain more complicated objectives in the international arena. Nowadays, the company has been rated as a competitor to the most powerful companies in transportation within Russian inner ports, Black, Mediterranean, Caspian and Baltic Seas and the corporate goal has been shifted to worldwide transportation market.
We believe that a skill can go so far that it understands and focuses on the special needs of each ship and our objective is to offer dedicated quality service and personnel involvement while still providing large company supply benefits. Personal commitment in a very large operation is soon lost due to blanket policies rigidly enforcing on all vessel types and situation. Farghai Ship Management offers the flexibility to be able to hire the best team to meet ship owner’s specific needs.
We are focused on ensuring our vessels adhere to the highest safety and environmental standards. A proactive approach to safety and ongoing investment in people, environment and quality are fundamental in everything we do.
1.1 Strong Customer Relationships
Farghai Ship Management has strong relationships with customers and charterers by sustaining highest level of quality in its fleet and its good reputation for dependability. The Company has established good relationships with leading charterers and a number of brokerage houses around the world. Farghai Ship management has a long-standing reputation for a high level of trust and safety, which supports its commitment to building and maintaining strong customer relationship.
1.2 High Quality Modern, Low Cost Fleet
Farghai Ship Management fleet consists of modern, well-maintained vessels that reduce operating costs while improving safety. In addition, the Company competitively commissions reliable, cost efficient shipyards to perform repairs, reconditions and upgraded systems to develop its business. The Company believes that this combination allows minimizing maintenance down-time, to effectively manage insurance costs and to control overall operating expenses.
We expect to grow our fleet in a disciplined manner through timely and selective acquisitions of quality vessels. We perform in-depth technical review and financial analysis of each potential acquisition and only purchase vessels if the market conditions and developments are convenient for our company’s best interest.
We intend to strategically employ our fleet between period and spot charters. We actively pursue period charters to obtain adequate cash flow to cover our fleet's fixed costs, consisting of vessel operating expenses, management fees, general and administrative expenses, interest expense and dry-docking costs.
We believe this balanced employment strategy will provide us with more predictable operating cash flows and sufficient downside protection, while allowing us to participate in the potential upside of the spot market during periods of rising charter rates.
Farghai Ship Management strategic objective is to achieve balanced and profitable long-term growth for itself and its principals. To accomplish this target, the company’s strategic plan is focused on undertaking a number of key initiatives over the next years that will allow us to outperform our competitors irrespective of market conditions.
We aim to add value to our principals through managing all aspects of their vessels, from technical management and crewing to chartering and voyage execution, with an unrelenting focus on operational excellence. We leverage analytics to make better business decisions, and rigorously apply this approach across the company. We are committed to pursuing innovative technology to drive commercial benefits.