PRESS RELEASE

Capital Management System sets standards for excellence in ship management and operations

Capital Management System sets standards for excellence in ship management and operations

Capital Ship Management Corp. ('Capital') demonstrates the effectiveness of its Capital Management System with independent evaluation by Lloyd’s Register (LR)

Athens, Greece, June 7, 2018. LR, in a ceremony at Posidonia, presented Mr. Gerassimos Ventouris – Chief Commercial Officer - with an ‘Attestation’ relating to Capital Ship Management Corporation’s ‘Excellence in Ship Management and Operations’.

LR was commissioned to provide independent evaluation of Capital’s fleet and corporate performance, covering operations of its managed LR classed fleet of 34 vessels (tankers, bulk carriers and container carriers) over a 5-year period, from 2013 to 2017.

Mr. Ventouris commented: “It is with great pride and honour that I receive this attestation on behalf of the whole Capital Ship Management team. We are extremely proud of the efforts made and the results we obtained in our operation of a wide variety of ships ordered, built and delivered to our company, varying in size from 14,000 to 320,000 dwt tankers, 1700 to 10,000 TEU container ships, 35,000 to 160,000 bulk carriers. It is a team effort and the credit goes to all our staff for their excellent input. We say in Greece that “the toughest enemy of good is better” and we shall continue to take on that enemy with the same dedication and effort as we have all these years”.

LR CEO, Mr. Alastair Marsh, commented at the ceremony, “LR is delighted to be able to attest to the implementation of the Capital Management System having contributed continual improvement to Capital’s reported performance indicators throughout the five year period examined, from 2013 to 2017.”

He continued, “This is an important announcement, as it not only benchmarks their fleet and corporate management performance against market standards but provides a continued commitment of excellence.”

Mr. Stavros Meidanis, Capital’s DPA and Safety Manager concluded: “This award represents Capital’s commitment to Safety, Environmental and Energy Standards, in accordance with International Rules and Regulations and Industry Best Practices. This achievement belongs to all our people ashore and on board, for their dedication to safety and safety culture. We will continue to stay focused on our strategy for safety performance and operational efficiency, understanding future industry trends and developments, securing at the same time a successful and sustainable long-term business”

Mr. Theodosis Stamatellos, LR Marine & Offshore Regional Manager for South Europe added, “It is great to support a client who takes a proactive approach to their ship management and operations. There are a lot of learnings here of wider benefit - the strengths of the Capital Management System include strong leadership engagement and accountability, aligned governance across the corporation, and a standardised Management System Process that provided evidence of sustainability and continual improvement.”

Ends

  

NOTES TO EDITORS

About Capital Ship Management Corp.

Capital Ship Management Corp. ('Capital') is a distinguished oceangoing vessel operator, offering comprehensive services in every aspect of ship management, currently operating a fleet of 60 vessels including 41 tankers (6 VLCCs, 5 Suezmaxes, 2 Aframax, 27 MR/Handy product tankers and 1 small tanker), 4 modern Capesize bulk carriers and 15 container carriers with a total dwt of 6.12 million tons approx. The fleet under management includes the vessels of Nasdaq-listed Capital Product Partners L.P.

About Lloyd's Register

Lloyd’s Register (LR) is a global engineering, technical and business services organisation wholly owned by the Lloyd’s Register Foundation, a UK charity dedicated to research and education in science and engineering. Founded in 1760 as a marine classification society, LR now operates across many industry sectors, with some 8,000 employees in 78 countries.

LR has a long-standing reputation for integrity, impartiality and technical excellence. Its compliance, risk and technical consultancy services give clients confidence that their assets and businesses are safe, sustainable and dependable. Through our global technology centres and research network, LR is at the forefront of understanding the application of new science and technology to future-proof our clients’ businesses. Lloyd’s Register and variants of it are trading names of Lloyd’s Register Group Limited, its subsidiaries and affiliates.

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