The following is the text of a press release issued by National Maritime Services:
(FORT LAUDERDALE, Fla.) — As the global economy gradually improves, the resale value for ocean-going ships is improving as well. Surprisingly, so is the demand for ship seizure services.
Ship seizure trends, and the challenging process of vessel repossession and custody will be the focus of a presentation given by G. Robert Toney, the president of National Maritime Services, one of the world’s largest ship arrest services, during next month’s Lloyd’s Maritime Academy forum in London. “The process of arresting a ship is a complex legal and logistical business,†Toney states. “With ship values continually changing, lenders and other claimants are more likely to time the recovery of a large vessel in default in order to maximize return. This is a change from the past several years where there wasn’t much of a market for ocean-going ships.
“As a result,†Toney continues, “we are seeing an increased demand for all aspects of ship arrest and custodial services.â€
The Lloyd’s seminar, entitled “A Practical Guide to Arresting a Ship,†will include bankers, lawyers and government officials who manage distressed assets and are faced with managing the costs and challenges associated with ship arrest actions. Toney will offer practical advice on arrest and custodial issues based on his experience as CEO of one of the world’s largest vessel arrest custody service providers. He is a member of the board of directors of the Maritime Law Association, and a frequent speaker and consultant throughout the US and Europe’s shipping capitals.
National Maritime Services (NMS) is a part of Toney Capital Holdings (TCH), an integrated marine recovery, remarketing, financing, transportation, maintenance and resale enterprise. TCH is comprised of National Maritime Services, National Liquidators, and MariTech Services, and also has interest in a marine finance business, Maritime Capital Group. National Liquidators is one of the world’s leading vessel recovery and remarketing firms. NMS provides comprehensive ship arrest and custodial services around the world, including all-inclusive asset management, marine insurance coverage, vessel location and tracking services, ship maintenance, licensed shore side and on board operations, crew repatriation and vessel marketing and sales. For more information about NMS, visit www.vesselarrest.com. To learn more about each of the TCH businesses, visit www.tch-llc.com.
