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Matrix shipping was incorporated to cater for our shipping activities. Shipping is one of the key success factors in trading, we understand the importance of this and set up a shipping desk within the group. Shipping cost accounts for over 10% of our direct cost. We recently acquired a 5,800 DWT double hull vessel named Mt. Matrix 1 (formerly Mt. Forth Bridge) and have two (2) other vessels on time charter basis. Plans are underway to acquire additional vessels with the view of replacing those on time charter within the coming months.

The shipping of oil liquids and natural gases is vital to maintaining energy security, particularly in regions like Nigeria where indigenous resources (refineries and terminals) cannot keep up with demand for petroleum products. Equally, a lot of daughter vessels are required to lighter and aid discharge of import product in Nigeria due to shallow draft restrictions at our jetties, meaning that Oil and gas will remain very important in the energy mix to 2050 and beyond. And living standards in developing and highly populous economies such as Nigeria are expected to see dramatic changes as will demand for shipping. In Nigeria, there are over 350 vessels operating in our territorial waters most of them owned by foreign companies. Only a few are owned by indigenous companies and fewer still have valid trading documents this created opportunity for us to invest in shipping.

Shipping in Matrix is about reducing and managing risks. It's about achieving and delivering the highest standards of governance, health, safety, security of supply and environmental performance, and working with international bodies to promote industry standards. It's about combining and deploying the right attitude in supporting our colleagues across the Matrix Group and playing our part in delivering the group business strategy of "more market share and profitable trading." The Matrix Shipping organisation is based in Athens and Lagos. Offering high level expertise and decades of experience, we provide group businesses and operations with an unmatched and vital resource.

Matrix Shipping is not just about ships, our services span two key areas.
Commercial: Our commercial desk is located in Lagos and our activities include the entire process of chartering shuttle vessels and revenue generation.
Technical Management services provided by Val Oil Trading S.A. cover the manning and operations for tankers owned by Matrix Shipping.
Ship Management
has the expertise in managing our vessels and work for our partners, security, crisis management, procurement and port relationship matters.
 
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