Glory ShipManagement Ltd

Following the market trend of increasing demand for liquefied petroleum gas (LPG) and LPG Carriers (LPG/C), Captain Gabriel Petridis and Mons Bolin invested for the purchase of four LPG/Cs, one chemical tanker, four New Buildings LPG/Cs and one New Building Ethylene Carrier. The LPG Fleet is under the umbrella of Glory Shipmanagement Inc a company fully owned by Aries Energy Corporation.

 


Strategy

  • Growing Through Accretive Acquisitions - The Company intention is to increase the fleet with new acquisitions and new buildings. In executing its acquisition strategy, Glory will focus on accretive transactions that add quality vessels to its fleet for the benefit of the Company, customers, and shareholders.
  • Maintaining Quality Vessels - Ensuring that vessels are maintained to the highest standards is a priority and a core differentiator for Glory. With an uncompromising focus on quality, Glory intends to continue to provide leading charters with modern well maintained vessels that are ideally suited to protect its cargo as well the environment and Company's seafarers.

 

The Fleet

 

Vessel

Flag

Type

Size (dwt)

Class

Expiration of TC

OPTIMUS

Liberia

LPG

7,734

BV

24 May 10

ORIONGAS

Panama

LPG

10,310

BV

24 May 10

PHILIPPINE

France

LPG

3,520

BV

15 Jun 12

VENUSGAS

Liberia

LPG

7,070

BV

08 Dec 09

CASTORGAS

Liberia

LPG

6,920

DNV

28 Feb 10


Aries' operating strategy is focused on implementing a time charter approach, in an effort to generate stable cash flow and limit earnings volatility. Complementing this strategy is Aries' commitment to growing the Company and expanding its leadership in the industry.

The Company's Strategy includes: