Common Progress Compania Naviera S.A.

Common Progress Co Na S.A. was established in 1983. The company, backed by major shipping banks, has concentrated in the dry bulk sector, investing in a substantial number of vessels, ranging from Handysize to Panamax. Taking advantage of the cyclicality of the market, the company renews and expands its fleet through second-hand and newbuilding purchases. The company's high standards and reputation as a quality manager have helped generate repeat business and create long-standing relationships with most major charterers. The company is ISO 9001 certified and all vessels have consistently presented a Port State Control record of non-detentions, which reflects a corporate emphasis on high quality. Common Progress is based in Maroussi, Athens, employing 35 shore-based and about 200 sea-going personnel from Greece and the Philippines.