This department manages the Company’s accounting services as well as the collection of Company’s revenues. Department of Finance and Accounting also promotes the Company’s economic health by providing leadership in the development and execution of sound fiscal policies.
The Financial and Accounting Department provides all ship performance information and accounting, through highly experienced and qualified personnel, allowing the shareholders to monitor ships' operations and maintain ultimate control. This is achieved through an in-house group of operating systems, financial and management accounting systems and purchasing control that cover all aspects of vessels' operation and proper accounting of their performance, revenue management, having overseen the conceptual development and implementation of the company's highly regarded revenue-management systems and procedures. The department follows internationally recognized accounting standards (US GAAP) and has excellent relations with first class banking institutions and takes much pride in maintaining its excellent name in the industry.
In addition to the above the role of the Finance Department is the overall management of financial affairs. Such as to negotiate and co-ordinate budgets in respect of the administrative costs of the Company and funding the various services provided by the Company. Also it administers the Company's funds in compliance with all required accounting and financial procedures.