Hong Kong: An Asian subsidiary of NEPA Shipping in Holland has launched a new set of services offering shipowners an integrated solution including managing their investments, ownership representation, commercial management, arranging technical management, dry docking supervision, newbuilding and conversion supervision, vessel sale and purchase as well as arranging ship finance.
NEPA Projects and Investments, formed in 2007 and based in Hong Kong, is the brainchild of Captain Pappu Sastry who previously held a senior position with a global ship management company. "During my time in the maritime industry it has become apparent that there is growing demand from the industry for a company that can provide a wide range of services and can also be innovative and flexible," said Sastry who is Project Director of NEPA Projects and Investments. "There is also demand from private equity companies related to shipping who want to invest in the maritime sector and we can provide the advice they need to secure the deals."
Captain Sastry said that the industry is highly fragmented with large companies dominating sectors such as ship management, S&P and chartering. "We have hired some of the brightest and the best from the ship broking, chartering and commercial sectors under one umbrella group that enables NEPA Projects and Investments to deliver customised services to shipowners and investors," he said, adding that the economic downturn has left many banks with distressed assets as shipping companies are liquidated. These vessels are often laid up while the banks are charged premium fees by ship management companies. "This is an opportunity; we can find the cargo for these vessels, organise the chartering and manage the vessel providing banks with a return on their assets." [09/12/09]
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