ABOUT COSENA SRL

In 1991, shortly after the market liberalization in Romania, the sole share holder, Mr. Adolf Baclea established COSENA s.r.l., (a shipping services company) registered with the Register of Commerce under no. J/13/729/1991 and having as its object of activity the following:

Cosena HQ

-International Cargo Carriage
-Crewing activities
-Ships supply in Romanian ports
-Ship repairs (serious and/or slight)
-Consultancy in shipping activity
-Assistance in ships repairs and conversion activities

Initially COSENA s.r.l. began its activity by performing class and conversion repairs to Romanian flag ships and foreign ships, by its own expert teams.

For the activity to be carried out to the best, the shareholder constituted a group of experts consisting of specialists of long standing experience in shipyards and in ships operation.

So the modern methods of scheduling repairs could be enforced, the latest generation, newly issued technologies and materials were used, which led to the shortening of the repairs cycles and the achievement of a high quality.

Since 1991, same time with ships repairs activity, the shipping activity began. In that year the first bare boat contract was concluded, by which the first ships - four PANAMAX bulk carriers, 2(two) of 55,000 DWT and 2(two) of 65,000 DWT - were taken into operation. Further on, the share holder concluded other bare boat or management contracts and other ships were bought too.

During the entire period, since 1991 till now, COSENA s.r.l. operated a fleet of about 46 different ships. General cargo ships of 8,700 DWT and of 15,000 DWT, ore carriers of 18,000 DWT; 25,000 DWT of 55,000 DWT; of 65,000 DWT and of 150,000 DWT, and tankers of 39,000 DWT and of 49,000 DWT and others were operated.

To meet the requirements imposed by the new international regulations in ships building, the shareholder together with his partners began a fleet renewal program.

So 10 tankers of 49,000 DWT were contracted with Onomichi Shipyard in Japan; double skin, double bottom ships, complying with latest international requirements and regulations, three of which are already in operation.

Same time the company aims to endow its fleet with new chemical tankers which comply with all the international requirements and regulations.

All our ships have a high technicality and maintenance level, they being classed with IACS classification societies as Lloyd Register of Shipping, Bureau Veritas, Germanischer Lloyd, RINA, etc.

Following its good professional training, responsibility and competence, COSENA was certified by Germanischer Lloyd, receiving since 1997 the accreditation ISO A74(18); then ISO 9001:2000 as well as ISM accreditation, and the ships received S.M.C. certification.

One of the essential components in COSENA activity is the selection, employment and training of personnel.

The company carries on an ample and complex program of recruiting, training and updating seafaring personnel, being fully aware that the ships would be operated safely, at normal parameters and at increased efficiency solely with a responsible, well checked, disciplined, qualified and well trained professionally personnel.

It is worth to note that, following this human resources politics, the majority of our seafarers work within the company since 1991, the year when COSENA s.r.l. was established.

The care, consideration and constant concern to update the professional training used in the personnel politics have contributed to crew understanding the standards required by the company and shipper's representatives and made them answer accordingly in their daily activity aboard.

Before the ship embarking, the crew is interviewed, trained and checked according to STCW, SOLAS, ISM, ISPS requirements.

The best conditions regarding the lodging, sustenance training, safety equipment and crew wages are provided on board ships.

Our ships and crews are covered with first class insurance companies.

During the years, COSENA s.r.l. in cooperation with its partners SO.CO.MAR s.r.l., SEAFORCE SHIPPING LIMITED, maintained a managerial approach to all activity fields connected to shipping, offering to all charterers which employed its ships, services at satisfactory standards. By a good management and a good crew training, COSENA did not register special shipping events, cargo damages, claims etc.