Ningbo Ship Trading Market seeking opportunities for development
- Details
- Category: Governmental News
- Published: Tuesday, 05 May 2015 09:20
Ningbo Ship Trading Market has witnessed the on-site sales of 17 ships, with a total tonnage of 14,087 tons and a turnover volume of 170 million yuan in the first three months of this year. The trading amount and volume have both gained great growth in this first quarter compared with the same period of last year. "Despite the gloomy market, we have managed to expand our market share by adjusting or improving such businesses as auctions and assessment." said Ma Yao, General Manager of Ningbo Ship Trading Market Co. Ltd.
The company was co-established by Zhejiang Ship Trading Market Co. Ltd. and the Administration Committee of Ningbo Bonded Zone, and settled down at the zone in July 2008. Located at Zhoushan, Zhejiang Ship Trading Market Co. Ltd. is a leading domestic ship-dealing agency. By taking advantage of the strengths of the mother company, Ningbo Ship Trading Market has been operating in such fields as ship agency, ship design, ship technology development, imports and exports of ships, ship auctions, and ship market investment.
"Our aim is to build a comprehensive specialized ship trading service platform for the ship owners. However, the gloomy situation of the shipping industry and the growth of the judicial ship auctions, the trading of second-hand ships has been compromised recently." said Ma Yao. In 2014, 90 ships were sold at the market, with a total tonnage of 301,119 tons and turnover volume of 1.29 billion yuan, including 51 second-hand ships, with a total tonnage of 183,954 tons and trading volume of 517 million yuan, both decreased compared with those of the previous year. To regain a better market, the company has been taking active part in the judicial ship auctions and the "online ship auction platform", jointly developed with Ningbo Shipping Exchange, was officially launched in August last year. The auction of the first ship, a 16000-ton cargo ship auctioned by Ningb Maritime Court, was a real success.
To expand the ship assessment business and broaden its business channel by cooperating with financial departments and asset evaluation agencies is another way for Ningbo Ship Trading Market to seek for development. According to Mr. Ma, since last year, the market has established cooperation with a number of financial institutions and financial leasing businesses, to carry out ship assessment. The Ship Assessment Center was established to produce price assessment reports by employing experts to conduct case screening analysis on the basis of the big data technology, providing guidance for financial institutions in terms of market situation and trading prices to control risks and conduct transactions. Meanwhile, as most financial institutions are not optimistic about the current situation of global shipping, they have reduced loans and imposed more restricts on loans, which have discouraged some buyers from buying new ships. To address the problem, the company has, in cooperation with some financial institutions, planned to launch a new financial product to support the development of the shipping industry and revitalize the entire transaction process.
