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net-marine.com

National Energy Transportation S.A.

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NET is an active participant of the shipping industry since 2003. Similar to structures commonly used by other shipping companies, NET’s managed vessels are all owned by, or chartered to, separate companies. The subsidiary, NET Management is comprised of maritime executives to support the company in the implementation of its decisions. NET Management is responsible for the commercial management of National Energy Transportation’s ship owning subsidiaries, including chartering and insurance. Each vessel managed by the company is registered under the Bahamas, Liberian, Marshall Islands, Cyprus or Panamanian flag. Our business model provides a key competitive advantage over our existing competitors and provides our shareholders with attractive returns and growth potential.

NET has a strategy of extensive outsourcing. Ship management, crewing and accounting services are provided by a number of independent and competing ship management companies. Pursuant to management agreements, each of the independent ship management companies provide operations, ship maintenance, crewing, technical support, shipyard supervision and other related services. NET's main strategy is to benchmark operational performance and cost level amongst the company's ship managers. Independent ship managers provide crewing for NET's managed vessels.

Currently, most vessels are crewed with full Ukrainian crews, while others have full Indian or full Filipino crews, or a combination of these nationalities. The management of the accounting services for every ship owning company that is managed by our company are provided by NET’S own managers.