WAY POINT - Issue 3

CUSTOMER PROFILE COSTAMARE

We spoke to Capt. Vasileios Velmachos from Costamare, one of the world’s leading owners and providers of containerships for charter, about their vision for 2021 and how V.Group has supported them in the most challenging of times. Q. What are your company’s key objectives for the year ahead? A. At present we are seeing some favourable market conditions so one of our key objectives is to maintain our high quality of service for our charterers despite the ongoing situation with the COVID-19 pandemic. We are looking to minimize off-hire periods resulting from either mechanical problems or due to crew changes affected by the port regulations. It is also essential that we maintain our high standards when it comes to handling and delivery of the cargo ensuring it arrives in good condition on time to the destination. We will also be making every effort to conform to new regulations and requirements either imposed by the shipping industry or from any other charterers request. Q. What would you say is currently the biggest issue facing your business at the moment? A. Currently, the biggest issue on the day-to-day operation that disrupts our business is the COVID-19 pandemic. The early months of 2020 turned out to be a real challenge for the crew changing and manning of our newly delivered vessels. Consequently, due to the pre- requirements globally, costs increased relating to crew expenses and OPEX was affected in general.

Q. The last year has been an extraordinary time for not only the world but particularly shipping. What would you say have been the biggest benefits of working with V.Group? A. Good partners are invaluable during harsh times and that proved to be our experience with V.Group. Apart from vessel management services, the very least an owner can expect is to be offered immediate solutions and alternatives that aid the continued efficiency of the business. We have very much seen V.Group as our partner during these extraordinary times and they have proven to be proactive, diligent, well informed and always a step ahead foreseeing new developments. Q. You entered into an expanded strategic partnership with V.Group in 2020 following that of 2013, to further strengthen existing business in Greece but also to expand Costamare interests into the ever-growing Chinese market. How has having a trusted partner like V.Group helped? A. This expansion of the strategic partnership was based on the high quality of service we were already being offered that would be expanded to an ever-growing Chinese market. The contribution of V.Group reflects the commitment that they have to Costamare and it will be continued as we expand in the Far East region. At Costamare we value V.Group’s effectiveness, pro-activity, cost benefit analysis and minimised operating expenses. Our main goals are to keep our charterers satisfied, run environmentally friendly vessels, create a safe operating environment and deliver the cargo in good condition and on time, and V.Group is integral in all of this.

08 WAY POINT // ISSUE 3

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