(Hong Kong, December 1st 2009)
NEPA Projects and Investments is 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.
The company, a subsidiary of NEPA Shipping in Holland 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 Captain Sastry, Project Director of Hong Kong-based, NEPA Projects and Investments formed in 2007.
“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 added.
During the economic downturn many banks have been left 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.”
NEPA was formed in 1988 in Amsterdam as a dry bulk chartering operator company with employees from the then larger Dutch shipping company. The group extended operations in 1995 with an independent office in Hong Kong. Now Nepa Group has grown to be one of the largest and most respected shipping firms in Europe and Asia.
NEPA Amsterdam operates a break bulk liner service from SE Asia to Continent. NEPA Hong Kong operates a break bulk/ dry bulk parcel service from China to Mediterranean ports generally between 20.000 and 70.000 DWT.