Daeyang is privately owned dry bulk shipping company founded in 1993. We enjoy a very close relationship with dedicated shipowners from China, Greece, Japan and Hong-Kong. Specializing in dry bulk, we mainly carry cargoes such as coal, iron ore, grain and others and we have grown to become the No.1 coal carrier in the Asian region.

A part of our strategy, we seek to maintain a well balanced portfolio between cargo operations and tonnage chartering. This way we believe that we can smooth out the disrupting effects of the dry bulk market, and continuously grow by providing competitive freight rates and a superior service. We are currently controlling about 180 bulkers, mainly Panamax and Handymax vessels, maintaining a good balance between long-term contracts of affreightment, and vessels operating in the spot markets, carrying in excess of 42.5 Mil. MT in 2004. This is more than twice as much as in 2002, as an illustration of our rapid growth and increased market share. This development is also reflected in our sales, which reached US$1.2 Billion in 2004, and we are aiming to increase this figure to US$1.8 billion in 2005.