Mideast Shipping

Mideast Shipping and Trading Ltd is the flagship company of the Mideast Shipping and Trading Group, ("Mideast") which was founded in 2000 , its principles having been in the industry for over 20 years buying and selling ships/vessels for recycling into the Indian Sub Continent. The Group of Companies are headed up by Mr. Shabbir Baig, Managing Dire... ctor and Owner and an Indian National based in the UAE. Steve Wansell is the General Manager of the Group and has 24 years of experience in International Banking having worked for American, German and French Banks and recently having a long posting at Bank Mandiri (Europe) Limited as Deputy General Manger. Steve has financed vessels into this recycling sector for over 16 years and has an all round knowledge of this industry. This is seen as an excellent acquisition for the Group and its expansion plans. Within the ship recycling industry, companies such as Mideast are commonly known as cash buyers. A cash buyer, is an entity that purchases a vessel on a prompt payment basis and delivers it to a recycling yard for the purpose of recycling. The main function of our business includes sales (selling), financing (taking title of the vessel against payment), market evaluation (forecasting future prices, demand/supply factors and other relevant business-specific issues). Mideast provide an important economic and distribution function to the owners of vessels globally towards the end of the vessels useful life. The role of Mideast is to act as an entity that purchases vessels and delivers them safely into recycling yards for recycling purposes for the vessels steel content. Mideast Group have concluded hundreds of vessels over the years and are averaging approximately 70 vessels per annum. Mideast are one of the leading cash buyers globally. The Groups intention is to increase the volumes of vessels and this has been reflected in the recent establishment of a UK/European office headed by Steve Wansell. The Group has many strengths and has considerable depth to its ...Read More