Siem Shipping trading under the name STAR Reefers dates back to the mid 90’s and is the result of numerous single ship acquisitions and corporate mergers. The origins go back to the vessels owned and operated by Irgens Larsen AS, and can be traced in various forms through Kvearner Shipping AS and Swan Shipping ASA. An all-time industry low cycle in 2000 dented the stability of Swan Shipping, at which point the Anglo-Norwegian financial group Siem Industries Inc step in to inject new equity into the company. The Company was renamed to Siem Shipping Inc in 2012. Siem Shipping Inc. is an owner and operator of vessels engaged in international shipping. The Company operates in the specialised reefer industry as STAR Reefers where it is a leading global owner and opera-tor of refrigerated vessels, directly controlling 30 vessels with a total capacity of 17 million cbft. The average age of the Company’s fleet is 16 years.
In addition, the Company has committed to becoming a tonnage provider to the car carrier market and, consequently, has contracted with Uljanik Shipyard d.d. in Croatia to build two 7,000 CEU pure car and truck carriers (“PCTCs”; CEU means car equivalent units) for delivery in the second half of 2017. The Company further expanded its capacity in the car carrier market during the second quarter of 2016 when it acquired all the shares of Auto Marine Transport Inc., which has three 7,000 CEU PCTC vessels under construction at Uljanik Ship-yard d.d. with deliveries commencing in 2017. Siem Shipping has provided management and technical services to this sector since 2012.
The Company’s objective is to fulfill the marine transportation requirements of its customers in the global perishable produce sector by providing a high-quality and cost-effective service. The Company’s core values include safe operations, reliability, quality, honesty, predictability, providing our customers with the service they need through long-term relationships, caring about the environment, flexibility and profitability. Siem Ship-ping’s activity in the reefer segment is focused on the transportation of bananas and, in the PCTC sector, on being a first-class tonnage provider.