In line with the company's policy of maintaining a thorough and up to date understanding of the vessels' structural, operational and cosmetic condition at all times, technical personnel are obliged to visit each vessel at least twice each year and prepare an analytical technical report which is circulated to the top management. The company had been using a six month planned maintenance system (in house developed software and hard copy PMS). A major upgrade in the system is now at work through a signed a contract with Danaos installing a computerised PMS ashore and onboard. Historical data and statistics are maintained for all vessels measuring performance on various aspects, including but not limited to, vetting inspections and PSC inspections.Safety
Inhouse training in ISM, ISO, STCW, Structural Assessment, Drug & Alcohol abuse and Hazardous Material is conducted for all Greek senior officers prior joining vessels. On board training in the above and additional subjects subjects is conducted for other officers and crew, via CBT (Seagull). Regular scheduled and unannounced drills and exercises are being held ashore and onboard. Table-top drills in VRP and California plan are carried out on an annual basis, through our QI in the US, mssrs O'Briens. Evaluation reports are used for identification of training needs. Near misses and incidents are analysed and circulated to all vessels as lessons learned.Crewing
For maximum control, communications and reliability, the Company uses normally four Greek officers with Yugoslav and Philippine officers and ratings. The Company has access to a pool of Greek Officers known to them for many years and this gives additional security to the operation. Before boarding vessel’s under management, all Master’s and Chief Engineers undergo extensive briefings (typically weeklong) at Company’s offices. The crew is obtained from top ranked international crew agents well established in Piraeus for this purpose. All are fully instructed to ISM rules and practices by the Company.Insurance
Since the new operation started, the company has focused its efforts on building and steadily developing best possible relations with leading underwriters, particularly in the Norwegian and London risk markets. At present, the company has all of its vessels comprehensively covered for Hull and Machinery and allied risks with Gard as leaders. All vessels are entered with Gard P&I club. Fleet experience has been very rewarding and the fleet has excellent results in both Hull and Machinery and P&I. Paradise maintains regular face to face contact with all underwriters and Club principals who regularly visit and discuss openly with all departments.
Accounting, Finance & Reporting
Accounting: Prepares individual and consolidated financial statements by USGAAP released on a quarterly basis and audited annually. Coordinates payments, monthly payroll and crew allotments and issues weekly cashflow reports.
Corporate Finance: Arranges bank loans or other sources of financing, private equity or debt. Manages all matters related to banks and shareholders or investors.
Reporting: Prepares Monthly Management Reports, including proforma P&L statements, opex breakdown and full cost analysis compared to the budget.