Past History
Company profile
Box Ships Inc. is an international shipping company specializing in the transportation of containers. Our vessels are trading worldwide in a multitude of trade routes. We are focused on maximizing shareholder value by maximizing returns on our investments while at the same time ensuring our vessels adhere to the highest safety and environmental standards.
History
We are a Marshall Islands registered company that was formed in May 2010. Our business strategy is focused on building and maintaining enduring relationships with charterers and providing reliable seaborne transportation services at competitive cost. We seek to create shareholder value by acquiring and operating modern container vessels and employing them in "period time charter" contracts. Mr. Michael Bodouroglou, our Chairman and Chief Executive Officer, has been active in shipping since 1976. Box Ships Inc. is fully committed to promoting openness, ethical conduct and integrity in all its dealings and has developed a 'code of business ethics and conduct' establishing rules and standards regarding behavior and performance.
Location
Our executive offices are located in Voula, Athens, Greece. The company was listed on NYSE on April 14, 2011. On November 17, 2015, the company was delisted from NYSE and on November 18, 2015 commenced trading on OTCQX International under the symbol "TEUFF".
Fleet
We operate a fleet of modern and cost efficient container vessels servicing ports and Customers around the globe. Our goal is to continue to grow our fleet size over time to take advantage of the opportunities in our markets and meet our customers’ needs. Our long term fleet deployment strategy is designed to balance the stability of medium to long-term charter contracts. We believe that this strategy offers better opportunities and greater transparency of earnings. From time to time our management may adjust our fleet deployment strategy according to the prevailing and expected Container charter market conditions.
Our vessels are trading worldwide in a multitude of trade routes carrying containerized goods complying with the International Convention for Safe Containers.
Mission Statement
"To be a carrier which our customers can rely on, always offering a first class service with integrity, professionalism and transparency."
Box Ships Inc. – NYSE: TEUFF
Formed by Paragon Shipping Inc. (NASDAQ: PRGN) to invest in the containership industry. Paragon Shipping and CEO own approximately 11.0% and 16.6%1 of the Company, respectively.
Strong Management Team with over 79 years collective experience
Michael Bodouroglou, our Chairman, President and CEO has over 35 years experience in shipping. George Skrimizeas, our Chief Operating Officer, has 25 years experience in shipping.
Robert Perri, our Chief Financial Officer, has over 19 years experience in shipping and finance.
Current Fleet
9 containerships, average age of 9.9 years compared to industry average of 10.9 years.
Focus on mid-size segment. Fleet consists of vessels between 3,400 and 6,600 TEUs with total capacity of 43,925 TEU.
41% fixed employment for 2015.
