Erria A/S – Fact sheet
About Erria
Erria A/S’ activities consist of shipping and shipping related activities worldwide. It is the Company’s objective to gain extensive expertise in niche areas and through this to obtain a favourable market position. The Company has primarily been engaged in shipping activities within the segments for minor tankers, dry cargo and container feeder vessels.
The main business areas of the Company are:
- Shipowner/Investments in shipping activities and ship projects
- Ship management, incl. chartering
- Consulting
- Chartering
The specialised business areas are:
- Shipping and investment in tonnage
- Technical management
- Crew management
- Chartering
- Supply management
- Development of newbuilding projects
- Ship design and consulting
- Purchase and sale of shares in vessels
Vision, mission and values
Vision:
To simplify and develop optimal and integrated maritime and transportation solutions.
Mission:
To be our customers' preferred supplier of integrated maritime and transportation solutions.
Values:
Our values define the way we think and act, both as individuals and as a company:
- We have a passion for excellence
- We are open and honest
- We are respectful to our customers, our employees as well as to our external stakeholders.
Strategy and objectives
Overall strategyThe overall strategy of the Company is to differentiate ourselves from our competitors by offering a customer oriented product portfolio of shipping related services, and to do so in close partnership with the customer. The cooperation with the customer will often also include financial partnerships in the form of vessel co-ownership.
The strategy implies that the Company supplies a wide range of services, each of which, however, as standardised as possible and very often supplied in synergy with other services or partners. The aim is to supply the customer with an individualised solution, yet at a competitive price. Our customers also benefit from the economy of scale which the diversity of the Group allows us to exploit.
Competencies and markets
The most important resource of the Company within every business area is competent and motivated employees. The organisation is very flexible, which is necessary as the Company follows a differentiated strategy where the willingness to adapt is what distinguish our products from those of the competitors.
The company operates chemical tankers, dry cargo vessels, barge-systems and container vessels with independent gear/cranes (feeder service). Further, the Company manages various ship technical projects on behalf of customers as well as investment projects, including newbuildings projects.
Outlook for 2010/2011
The global economy is growing again in 2010 and the industrial production of chemical products is increasing. Increasing demand gives the possibility for better average rates, but despite the interna-tional phase out of older vessels due to new International Maritime Organization (IMO) requirements, the market is expected to remain challenging short-term. The first few months of 2010 are giving cause for optimism for 2010, particularly for chemical tankers, although the container and tanker mar-ket is not expected to give positive returns until a later point of time.
2010 will be a difficult year and the Company does not expect a positive Comprehensive Income until 2011. Profitable sale of vessels under the present market condition cannot be expected. Particular uncertainty is related to the development in the rates in the container market, USD currency exchange rate and the price on oil.
Board of Directors
Kaare Vagner (Chairman of the Board of Directors)
Finn Buus Nielsen (Deputy Chairman of the Board of Directors)
Carl Christian Nielsen
Carsten Dencker Nielsen
Hasse Kjærsgaard Lasen
Management
Henrik N. Andersen, Managing Director
Jan Lybecker Steffensen, Technical Director
Jørgen Thuesen, Director, Consulting
Henrik Blegvad Funk, Director, Finance & Strategy
Kenneth Jan Madsen, Commercial Director
Contact persons
Please contact one of the following persons to for detailed investor information:
Managing Director, Mr. Henrik N. Andersen
Mobile +45 2332 7691
henrik@erria.dk
Business & Strategy Development Director, Mr. Henrik Funk
Mobile +45 2139 0532
hbf@erria.dk
For further press information about ERRIA and our activities, please contact
Managing Director, Mr. Henrik N. Andersen
Mobile +45 2332 7691
henrik@erria.dk
Head Office
Erria A/S Amager Strandvej 390, 2nd
DK-2770 KastrupCopenhagen
Denmark
Tel: +45 33 36 44 00
Fax: +45 33 36 44 01
E-mail: info@erria.dk
Website
The official ERRIA Group website is www.erria.dk, where further information on the Company may be obtained.
Fact Sheet updated October 15th, 2010
