NYMAR is a member based association of maritime companies in the greater metropolitan New York area whose goal is to promote the benefits of the region as a maritime business center in order to attract more businesses to share in the opportunities available in this robust area. It hosts an annual seminar, and participates in many area conferences and events.
The reasons for doing business in New York are many. Taking a page out of New York's own David Letterman, here are the Top Ten Reasons for Doing Business in New York:
- Abundance of capital: Maritime public companies - in all sectors from bulk to tanker from cruise to container-- have a market capitalization of over $100 billion.
- Abundance of liquidity: Over $300 billion of public shipping stocks traded in 2007.
- The two largest stock exchanges in the world (NYSE and NASDAQ) combined with vibrant media coverage including at least three 24hour financial news television stations that regularly feature maritime CEO's and other luminaries from the New York shipping community creates a global pulse unmatched anywhere in the world..
- A dynamic and prosperous private equity community that has completed over $3 billion of transactions in the industry in the past year.
- Over 250 shipping companies, including a plethora of shipowners, who have already reaped the benefits of the transactional New York area business climate. As the song goes, "If you can make it there, you'll make it anywhere…"
- Over 100 law firms with a maritime practice including ship finance, securities, litigation, risk management, environmental compliance, charterparty, contracts and more.
- Over 20 leading investment banks and 20 commercial lenders covering the sector. These bankers make capital accessible and efficient.
- Abundance of maritime professionals including P & I Clubs, Classification Societies, ship brokers, Insurance brokers, maritime academies, etc. plus excellent, affordable and efficient arbitration capabilities with top-notch, seasoned arbitrators.
- One of the largest trading ports in the world with convenient access to customers and end- users.
- The best pizza in the world!
New York also boasts an economy larger than most countries, an internationally diverse population, more Fortune Global companies than any other international center, and is one of the world's cultural capital. Home to the two largest stock exchanges in the world, New York is where shipping and transactional executions meet.
The New York Maritime Cluster is home to over 250 shipping companies, who are continually reaping the benefits of the area's extensive resources and infrastructure (banks, lawyers, insurance and arbitration). New York is also the world's best tax haven for a foreign shipping company to base its operations if it qualifies for exemption under US tax laws or a US treaty.
Call us today and take a bite of the Big Apple. As heard on Broadway: "New York, New York it's a helluva town!". For membership information, or for more information on doing business "New York style", please call us at +718 841-74NY (69) or go to www.nymar.org.
