Hellenic Carriers Limited is engaged in ownership, through its wholly owned ship owning subsidiaries. The Company is engaged in the operations of a fleet of dry bulk vessels, through its wholly owned manager, Hellenic Ship management Corp., which transport iron ore, coal, grain, steel products, alumina and other dry bulk cargoes globally. As of December 31, 2011, the fleet consisted of five vessels, including three Panamax vessels, one Handymax and one Supramax. As of December 31, 2011, the fleet had an aggregate carrying capacity of 303,141 deadweight tonnage and an average age of 16.2 years. The dry bulk carriers transport bulk cargoes, such as grain, coal and iron ore, and minor bulk cargoes, such as bauxite, phosphate, steel products and alumina along global shipping routes. On August 23, 2012, it announced that its wholly owned subsidiary Patmos Shipping Co. Ltd completed the sale of Panamax dry bulk carrier, M/V Hellenic Sea.