Cermar was established as a wholly owned subsidiary of Cerrahgil in 1981 and is the oldest offshore subsidiary of any Turkish company. With offices in Victoria in Central London, Cermar supports all of Cerrahgil's shipping activities including Sale & Purchase, Finance and Insurance. Cermar operates Cape Size and Panamax bulk carriers chartered in to service contracts of affreightment for Turkish coal, steel, iron ore and grain cargoes.