The broad strategic guidelines, along which Andromeda has developed, have always been: Group dimension, size specialization with an open mind toward diversification opportunities, focus on quality and environmental awareness, financial soundness.
The partners have always wanted the Company not to exceed a certain scale in order to keep a high flexibility toward market changes and high performance in operations and quality control.
In a market where there have been mergers of the large management companies there is a lucrative niche for smaller vertically organized companies who own and operate their own ships.
Andromeda has focused mainly on the transport of oil products with tankers from 30,000 to 150,000 DWT. Due to the competence and skill gained in this market segment and the ability of anticipating market needs and changes, Andromeda has often taken third party vessels on long term charter, re-chartering them out on the spot market.
Taking position by chartering in vessels on period gave the Company the opportunity to explore other market segments, going through a learning process that led to decide to invest in larger size vessels like Aframax/LR2 and Panamax tankers.
In the late 90’s Andromeda decided to enter the lucrative and highly technically specialized FSO (Floating Storage Offshore) market, exploiting its internal technical experience an resources and its management skills. As of today the Company has managed four vessels as FSO/FPSO of different sizes in different countries.