ACCOUNTS, INSURANCE
& FINANCE

The company employs registered accountants who deal with all accounting matters relating to an international shipping company. Audited financial results are produced on a yearly basis by PriceWaterhouseCoopers.

The company also has a finance department that manages equity and debt and invests the company’s cash in a diversified way, to achieve maximum returns.

Common Progress has a good reputation for safe and prudent transportation and has been able to obtain insurance coverage consistent with best market practices since it began operations in 1983. At present, the company places its hull and machinery insurances through Jardine Lloyd Thomson in the Lloyds of London market. Protection and indemnity risks are entered with the UK P&I club and the North of England P&I club, Defense insurance with the UK Defense Club and War Risk insurance with the Hellenic War Risk club.