During this period, we also developed and increased our marketing and commercial reach by opening new offices in Singapore in 2001 and in London in 2002. In 2005, we established a strategic alliance with Glencore - ST Shipping, that now operates as GLENDA International Management Limited. In 2007 we established a joint venture company GLENDA International Shipping Limited (d’Amico+Glencore) as a Ship owning Company