As of January 2011, we operate a fleet of 17 bulk carriers, comprising of fourteen owned and three chartered-in vessels, with an aggregate fleet capacity of about 1.5 million dwt and an average age of about seven years. Our fleet consists of sixteen geared and gearless panamaxes/post panamaxes/kamsarmaxes and one VLOC. Our specialized “geared” vessels have on-board cranes, which facilitate loading and unloading in undeveloped ports, such as those in India and Indonesia. We charter our vessels for specific voyages in the spot market and under fixed-term contracts with maturities ranging from 11 months to twelve years and above.

Dry Bulk Carrier – With Wire Luffing Cranes

Source: Drewry

The table below provides certain information about our fleet as of last practicable date.

Name of Vessel	Vessel Type	Year Built	Shipyard	Capacity (dwt)
Owned Vessels
Prem Veena	Gearless Kamsarmax	2007	Tsuneishi Corp., Japan	82,459
Garima Prem	Gearless Panamax	2007	Hudong, China	74,456
Garv Prem	Gearless Panamax	2006	Hudong, China	74,444
Prem Aparna	Geared Panamax	2001	Tsuneishi Corp., Japan	73,461
Prem Vidya	Geared Kamsarmax	2006	Tsuneishi Corp., Japan	82,273
Prem Varsha	Geared Kamsarmax	2006	Tsuneishi Corp., Japan	82,379
Gaurav Prem	Gearless Panamax	2005	Jiangnan, China	73,901
Kesari Prem	Geared Panamax	1997	Tsuneishi Corp., Japan	69,186
Kanak Prem	Geared Panamax	1997	Hashihama Shipyard, Japan	69,221
Kalpana Prem	Geared Panamax	2000	Imabari Shipyard, Japan	73,652
Prem Putli	Very Large Ore Carrier	1993	Sasebo, Japan Converted to VLOC at Yiulian, China	279,022
Gauri Prem	Gearless Panamax	2007	Hudong, China	74,483
Aarti Prem	Gearless Panamax	1994	Imabari Shipyard, Japan	69,087
Chitra Prem	Gearless Post Panamax	2010	New Yangzijiang, China	93,200
				1,271,224
Name of Vessel	Vessel Type	Expiry of Charter	Shipyard	Capacity (dwt)
Chartered-in Vessels
Chaitali Prem	Gearless Post Panamax	Sep 2009 to Sep 2014	New Yangzijiang Shipyard, China	93,270
Chanchal Prem	Gearless Post Panamax	Oct 2009 to Oct 2014	New Yangzijiang Shipyard, China	93,270
Maria Laura Prem	Gearless Post Panamax	Jul 2010 to Jul 2020	Sungdong Shipyard, South Korea	91,800
				278,340