creation

1992

International Andromeda Shipping (IAS) was founded in 1992.

founding

Partners

Founding partners have been involved in the international oil and shipping business before.

Focus on

high quality

Focus on high quality tanker vessels for the world wide transport of oil products, the managed and operated fleet ranges from 30.000 to 150.000 DWT.

Company’s

monaco

Company’s headquarter is based in the Principality of Monaco where commercial, technical and operational activities are carried out.

management

Partners

Fully integrated crewing and quality management in Mumbai, India, including recruiting and training facilities.

hISTORY

Mission Statement

Our mission is to operate and manage oil & chemical tankers as well as gas FSOs without causing any incidents or spillages, to fully protect the assets entrusted to us and to create enhanced value for our shareholders and owners.

How we do it

Vision Statement

Our vision is to continue operating and exploring, innovative, reliable opportunities in the oil & gas shipping industry. Our focus will always be on the safety for our people, to protect the environment and to ensure the best quality of our services.

Who we are

history

1992 - 2000

  • Start of ship owning activities with first Product Tanker acquisition (Blue Star 29,900dwt),
  • In 1995 – Founding of own ship-management Company Int. Andromeda Shipping in Monaco.
  • Strategic fleet growth including first orders of new buildings,
  • Opening of Mumbai Office for the Exclusive Manning of all Andromeda vessels.

2000 - 2010

  • Strategic move to the FSO market with two units (VLCC + LPG carrier),
  • New MR Tankers ordered to replace aging units,
  • Strategic growth with two new LR2 ordered at SHI,
  • Implementation of risk adverse and diversified vessel employment strategy with a mix of short and long term Charters.

2010 - 2020

  • Opportunistic sale of the FSO business with full management remaining with Andromeda,
  • Expansion of third-party ship management activities (With currently 30 vessels under management),
  • Strategic fleet diversification to create synergies with partners from the oil trading business,
  • Continuous fleet growth investing in newbuilding again. Two Dahean Eco Lr2 joined the fleet.

2020 - To Date

  • Diversifying into NB projects ordering 2 super eco MR tankers at HMD.
  • Focus on fleet renewal and growth with strategic partnerships, looking for long-term investments, covered by long term charter coverage.
  • Taking advantage of positive Product Tanker Markets by selling older assets.
  • Strategic move into the Bitumen business with purchase of first asset in early 2024.
creation

STRATEGY

  • Specialized on MR and LR 2 tankers with an open mind towards diversification opportunities,
  • Quality and environmental awareness,
  • Financial soundness,
  • In house expertise to provide top quality service to owned and third party vessels,
  • TC in/out contracts when market shows opportunities,
  • Synergies with reliable partners to develop new business opportunities along our values and possibilities.
business

BUSINESS DEVELOPMENT

  • Investment program with fleet expansion and renewal via new buildings and second hand projects,
  • Diversification into new markets by acquisition of larger size tankers,
  • High attention to quality, safety and environmental aspects,
  • Continue exploring the FSO business where IAS gained top expertise,
  • Expansion of third party ship management services,
  • Maintain strong relationships with international shipping banks and financial partners,
  • Open to evaluate alternative financial channels in order to further diversify the financial base of the group.