Neda Maritime's ambitions in China

2012-07-06

Yesterday I came across a Chief Far East Representative of Hellenic Neda Maritime Mr. D. W. Manning, who has been in charge of Neda’s newbuilding project in Asia (i.e. Japan China and S. Korea) for many years. We had a delightful conversation during afternoon tea time and he told me Neda Maritime is planning to put some new orders at Chinese yard, up to 5 Panamax bulk carriers to replace the company’s elder fleet.

Last year they had already successfully taken delivery of two 170,000 dwt capsize bulk carrier from Shanghai Waigaoqiao Shipyard, both Marshall Islands Flag. And according to Mr. Manning, when the market is down, then it is the perfect opportunity to place more orders with the lowest price. The shipyard will and has to swallow whatever terms and conditions they are offering to keep alive. Under current average shipbuilding price, shipyard can barely make any profit but just to keep the factory running.

He also mentioned the rapidly decreasing number of Greek seafarers, so there are fewer obligations for a Greek shipping company like Neda Maritime to fly his fleet national flag. Neda has been in contact with many open registries within the past few years, and choosing Marshall Islands is their first move. With local offices in the Far East region, Marshall Islands Registry could delivery handy help to owner’s site office.

He has traveled to many yards throughout China recently, and commenting Cosco Dalian Shipyard and Shanghai Waigaoqiao Shipyard as the most competitive ones for a bulk carrier project. He will soon be going back to Greece and report to his head office, I will certainly follow this case up to see what will be the order, which shipyard and flag.

I like this British gentleman!

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