Paradise Navigation SA

Paradise Navigation SA: Ship Management Company----Paradise Navigation SA (PNSA) is a Panamanian registered company, established in Greece under law 89 to perform management and ship operation functions for its owning principals. Originally, founded back in 1968, as Navipower Compania Naviera SA, by the Tsakiris family, a traditional Greek ship-owning and operating family.--Based in Athens, they are retained under contract for the Technical Management and owners agents of whole the fleet.--Use of US GAAP accounting standards and established ties with US investors.--Quality oriented operation with many certifications including ISM, ISO, ISPS, and now implementing TMSA. Have approvals from all major oil companies, with very high success rate on Vettings.--Members of BIMCO, Intertanko and the Hellenic Chamber of Shipping.--In-depth knowledge of current fleet. All second-hand vessels where bought as early as 1996/1999. The new-building series was designed and supervised by PNSA’s in-house technical team, whose senior members remain employed with the company today.--Very strong loyalty by Management and employees who have been with company since the re-birth in 1996-1998 and also own shares in Paradise Tankers.--Enjoys good reputation in market for integrity, ethics and quality with a 15 year record of almost zero Hull & Machinery claims to date.--Well established relations with suppliers as well as Banks.--All internal documentation maintained in English.------Paradise Tankers Corp (PTC): Shipping Investment Vehicle - JV with Stena----PTC is a Liberian registered holding company, established in 2000 to invest in shipping ventures, focusing mainly on Panamax tankers.--PTC holds single ship owning companies, releasing audited individual & consolidated financial statements by USGAAP since 2004.--PTC owned vessels have been operated/managed by Paradise Navigation SA basis on standard shipping management agreements.--Since 2008 Stena Bulk holds 35% of the company, acting also as commercial manager of the group.------Paradise Gas Carriers (PGC): Shipping Investment Vehicle - JV with P. Vasilopoulos----PGC is a Liberian registered holding company, established in 2013 to invest in shipping ventures focusing mainly in the gas sector, ie LPGs.--PGC holds single ship owning companies and is 50% owned by Paradise Group Holdings I&II (“PGH”) and 50% by the Vasilopoulos family.--PGC Marina (ex. Polar) has been delivered on July 18th 2013 and it is the first vessel included in this scheme.--PGC Aratos (ex. Syn Alcor) has been delivered on October 24th 2013 and it is the first LPG vessel of PGC.--PGC owned vessels have been operated/managed by Paradise Navigation SA basis on standard shipping management agreements.