ClassNK is a major supporter of the Digital Era
Institute of Science and Technology
East Coast Road, Thenpattinam (Chennai)
(An Institute of AMET University, Chennai, India)
INVITES APPLICATIONS
for the following positions at the exclusive
1. Master Mariner / Chief Engineers :
Marine Engineering First Class (Motor) / Nautical S
applicants shall be a holder of COC as Master (FG) or MEO Class I. Age : Below 70 yrs. ANNUAL PACKAGE : 21 Lakhs/annum + HRA.
2. Chief Officers / Second Engineers :
First Mate (FG) / MEO Class II. Age : Below 65 yrs. ANNUAL PACKAGE : 12 Lakhs/annum + HRA.
3. Junior Officers / Junior Engineers :
Second Mate (FG) / MEO Class IV. Age : Below 65 yrs. ANNUAL PACKAGE : 8 Lakhs/annum + HRA.
Interested candidates to send detailed curriculum vitae to
SETTING A COURSE FOR THE FUTURE
shipping.khimji.com
Optimising Liquefaction Operations
Wärtsilä Gas Solutions, part of technology group Wärtsilä, has signed a three-year Service & Maintenance Agreement with Greek fleetowner GasLog LNG Services. The agreement covers five 180,000 m3 LNG Carrier vessels, all of which are fitted with Wärtsilä mixed refrigerant (MR) Reliq liquefaction plants. The signing took place in December 2024, and the order was booked by Wärtsilä in the same month.
By optimising the operation of the ships’ MR Reliq plants, the boil-off gas (BOG) from the LNG cargo can be efficiently managed. This reduces emissions while also minimising cargo losses, thereby improving the vessels’ economic performance.
The scope of the agreement includes technical support, secured availability of spare parts and specialised field service personnel, as well as
performance monitoring of the MR Reliq plants. Remote technical support and operational data monitoring is provided by Wärtsilä digital services.
“GasLog is a leading global provider of LNG shipping services, helping the world transition to a lower carbon future. We at Wärtsilä Gas Solutions are excited to support them in this by ensuring the efficient and sustainable operation of their onboard liquefaction plants. We look forward to continuing our long-term partnership and collaboration,” comments Saman Siahpoush, Head of Services Sales, Wärtsilä Gas Solutions.
GasLog LNG Services has long been a customer of Wärtsilä. The company’s fleet operates with a range of Wärtsilä solutions.
- MMT
A.P. Moller Relief Foundation Gifts State-of-the-Art Simulators to AMET’s Maersk Centre of Excellence
The A.P. Moller Relief Foundation, a Danish philanthropic foundation, donated US$ 750,000 to establish a major infrastructure upgrade in the form of a Full Mission Simulator at the Maersk Centre of Excellence (MCE) in AMET Institute of Science and Technology (AIST), AMET Knowledge Park of
the Academy of Maritime Education and Training (AMET) University at Thenpattinam, Chengalpattu District, Tamil Nadu, India.
The Foundation’s generous contribution has been used to set up an exclusive Techno-building to accommodate the modern Full Mission Simulator (Deck and Engine Simulators) and Augmented & Virtual Reality labs that align with the maritime industry’s evolving technology and vessel designs.
This collaboration between Maersk and AMET reflects a shared commitment to advancing the skills and knowledge of future Indian maritime professionals.
These simulators will allow cadets to gain valuable experience in a controlled environment, enhancing their skills and confidence before transitioning to real-world operations. This will significantly raise the level of competency of the cadets graduating, aligning with the high standards of Maersk and the global maritime industry. These state-of-theart simulators will offer cadets immersive, handson training in essential maritime skills, including watchkeeping, steering, collision avoidance, identification of navigation lights and shapes, and engine troubleshooting. Through highly realistic simulations of real-world scenarios, cadets will gain unparalleled practical experience and master the complexities of modern maritime operations, ensuring they are fully prepared for the challenges of life at sea.
A.P. Moller - Maersk, a global integrator of logistics, traces its origins back to 1904 when it began as the Steamship Company ‘Svendborg’. Presently, Maersk owns and operates around 300 ships and employs more than 12,000 seafarers, including more than 5,600 Indian nationals. The company is committed to gender diversity and runs several programmes to encourage the recruitment of women cadets.
Nynne Norman Scheuer, Head of Marine People and Culture at Maersk, said, “The establishment of the simulator will mark a significant step in advancing maritime education and training in India, delivered through the Maersk Centre of Excellence at AIST. By integrating cutting-edge simulation technology, we are enhancing the technical skills of future mariners and their understanding of critical human factors, such as communication failures and situational awareness within a safe & simulated environment. This initiative furthers our commitment to building a sustainable and globally competitive maritime workforce.”
AMET, a beacon of maritime education, was established in 1993 with just 14 cadets. Today, it stands tall with around 5000 cadets and a rich legacy of sending around 27,000 cadets to the global shipping industry, contributing 4.3% to India’s global maritime human resource. Many AMETians hold esteemed positions in shipping
companies worldwide. The university’s excellence is further validated by its ranking as one of the top three maritime universities in the world by the International Association of Maritime Universities (IAMU).
AMET has been maintaining industrial collaboration with Maersk for the last twenty-five years. Maersk has recruited thousands of AMET cadets, some of whom are in coveted positions in the company. In recognition and acknowledgement of providing a quality workforce to Maersk for the last two and a half decades, AMET’s proposal for establishing the Maersk Centre of Excellence (MCE) was accepted, and an MoU was signed on 24th October 2019. The MCE was established on 29th June 2023 over 21.02 acres within the sprawling 137 acres of AMET Knowledge Park.
As per the MoU, Maersk recruits around 160 Deck and Engine cadets and 80 Electro-technical cadets annually at the MCE, intending to equip them with the latest training methods and teaching tools. The goal is to bridge the gap between theory and practice, thereby enhancing collaboration and cooperation among teams on board. Notably, the MCE also pioneered the industry-wide change to empower more women to take up seafaring through the first of its kind – ‘Women Cadet Programme.’
Dr. J. Ramachandran, Founder and Chancellor of AMET University, stated, “The longstanding maritime academic relationship between AMET and Maersk for the last 30 years is to be everremembered, especially for their joint commitment in contributing quality human resources to the global maritime sector. AMET is very much indebted to the A.P. Moller Relief Foundation for the donation that has helped us set up the Full Mission Simulator at the Maersk Centre of Excellence, which is going to be one of the major infrastructures offering cadets with unique hands-on training in essential maritime skills. The MCE is an ‘icon’ and ‘first-ofits-kind’ in India’s maritime education and training, and I am certain that products of the MCE would be of international standards”. He further said that the Simulator would come into operation from August 2025.
- MMT
DP World Unleashes Rail Freight Potential
DP World, a leading global provider of smart end-to-end supply chain logistics and one of India’s largest private rail freight operators, is set to support the growth of containerized rail cargo in North India by commissioning a third line at its rail terminal in Pali-Rewari, Haryana. This expansion will increase the monthly freight train handling capacity of Pali-Rewari rail terminal by 25%. DP World currently operates seven strategically located rail and inland terminals that connect to a wide network of Indian rail terminals, ensuring unmatched reach and efficiency for customers across the nation’s industrial heartlands and ports.
DP World has invested over INR 1,800 crores to expand our rail asset infrastructure and operations, with the goal of enhancing multimodal and sustainable logistics across the country. With more than 100 owned containers and Special Freight Train Operator Scheme (SFTO) rakes, over 16 thousand containers, and trailers for lastmile delivery, DP World is ensuring that its rail freight services remain at the forefront of India’s logistics transformation. The logistics major has rail terminals at Pali, Modinagar, Panipat, Hazira, Hindaun, Ahmedabad, and Hyderabad, and has been instrumental in unlocking market access for traders with unique rail solutions like the Morbi-Kolkata
rail freight service that connects ceramic traders in Kolkata with ceramic manufacturers in Morbi, Gujarat. Additionally, the company has invested in creating a robust multimodal ecosystem to deliver integrated logistics solutions to customers.
Commenting on the development, Adhendru Jain, Vice President of Rail and Inland Terminals, DP World Subcontinent, said: “Our comprehensive end-to-end surface transport solutions utilise DP World’s robust multimodal assets to deliver customised logistics solutions. We are committed to increasing the share of containerized cargo movement by rail, and the capacity expansion of our terminal at Pali is a key step in this direction. By leveraging our rail network, we not only provide efficient transport but also contribute to sustainability by reducing carbon emissions by 65% as compared to traditional road transport. We will continue to invest in strengthening India’s rail ecosystem to drive economic growth.”
DP World’s Pali Rail Terminal functions as a vital transshipment hub, offering facilities such as customs clearance and the consolidation of smaller shipments into containers for more efficient and secure transportation. It connects containerized cargo to key seaports like Mundra, Pipavav, Hazira, and Nhava Sheva. The terminal enhances efficiency by utilizing double-stack rakes and connects via the Western Dedicated Freight Corridor (WDFC). This provides seamless connectivity for businesses across diverse sectors, including Commodities, Industrial Goods, Automobile, FMCG, Chemicals, and Pharmaceuticals across the North Capital Region, to major EXIM ports and other domestic markets.
DP World has witnessed significant growth in domestic rail freight. This growth is attributed to innovative rail solutions like SARAL, SARAL-2, and other customised solutions that provide enhanced market access to businesses. SARAL, which stands for Sustainable, Assured, Reliable, and Agile Logistics, provides door-to-door sustainable cargo solutions for businesses based in South Gujarat and connects them to markets in and around the NCR region and vice versa. It assures 72-hour cargo delivery from the NCR region to Hazira port, delivering improved reliability, cost savings, and 100% cargo visibility to customers. Spurred by the success of SARAL, DP World introduced SARAL-2. This service leverages the company’s multimodal capabilities by integrating coastal, rail, and truck
operations to connect businesses from Chennai to the National Capital Region and vice versa. DP World is planning to add more routes across India.
Beyond operational gains, DP World’s rail operations contribute to lowering carbon emissions for customers, supporting the company’s overall commitment to delivering sustainable logistics solutions. It also runs double stack trains that can deliver 90 TEUs per trip, significantly reducing the emission levels of cargo. DP World has introduced a carbon emissions calculator that provides customers with a clear view of the emissions they can save by using different modes or multimodal transport solutions.
Finland’s Energy Transition Gains Momentum
Technology group Wärtsilä and Tornion Voima, subsidiary of EPV Energy, are building a new engine power plant in Finland. With a total capacity of about 43 megawatts, the engine power plant will be Finland’s first to provide balancing capacity to the power system upon completion. With it, Tornion Voima will be able to guarantee electricity production during various disturbances and varying weather conditions.
Significantly increasing the use of renewable energy is crucial in achieving climate goals and a carbonneutral future. Finland is already one of the world’s leading countries in utilising renewable energy: its share of total energy consumption is over 40%, and the goal is to increase this share to 50 percent still during the 2020s. Particularly, the share of wind and solar power is growing rapidly.
“The availability of wind and solar power varies by nature and ensuring availability even during cloudy and low-wind weather requires flexible and reliable electricity production capacity. For this, a modern engine power plant is the best option. It can be started quickly, only when needed and only for as long as necessary. In addition, engine technology has the best average efficiency in these types of operating conditions,” states Kenneth Engblom, Vice President, Africa and Europe at Wärtsilä Energy.
According to the Finnish energy system modelling published by Wärtsilä in April 2024, the introduction of flexible and reliable electricity production capacity would not only increase the system’s reliability but also affect the development of electricity prices. The model suggests that Finnish electricity users could save up to 1.3 billion euros per year if the capacity were increased by 2 gigawatts (GW) by 2030.
At the new Tornio power plant, natural gas will be used as the main fuel in the initial phase of production. Only a small amount is needed for the balancing of electricity production. Existing regional gas infrastructure will be utilised in the commissioning of the power plant. This enables a transition to sustainable fuels later on. Wärtsilä engines are already capable of running on sustainable fuels and will do so as soon as they become widely available.
The construction work on the power plant will begin this autumn at the Outokumpu factory area in Tornio’s Röyttä. The power plant is scheduled to be commissioned in February 2026, and the final construction work will be concluded later that spring. Wärtsilä will be responsible for the construction from spring 2025 until the completion of the power plant.
- MMT
India’s LNG Landscape Set to Change
Swan Energy and AG&P LNG Announce Joint Venture
In a significant development, Swan Energy Limited (SEL) has signed a Heads of Agreement (HoA) with AG&P Terminals & Logistics (SINGAPORE) PTE. LTD. (AG&P LNG) to collaborate on several key projects in India’s liquefied natural gas (LNG) sector. The agreement paves the way for the two companies to work together on a range of initiatives, including the incorporation of joint venture companies, supply of LNG, and the development of LNG terminals.
Key Components of the Agreement
The HoA outlines three main areas of cooperation between SEL and AG&P LNG:
1. LNG Supply Company: The two companies will incorporate a joint venture company, LNG Supply Company, to supply LNG in India or other jurisdictions. SEL will hold a 51% equity stake in the company, while AG&P LNG will hold the remaining 49%.
2. Regasification of LNG: AG&P LNG will collaborate with SEL on the regasification of LNG into regasified liquefied natural gas (RLNG) at Swan LNG’s Private Limited (SLPL) Terminal. Additionally, AG&P LNG has the option to participate in Swan Energy’s LNG Terminal through an equity stake.
3. Vessel Company: The companies will also establish a joint venture company, Vessel Company, to provide floating storage and regasification units (FSRUs) and floating storage units (FSUs) to operate SLPL’s LNG Terminal. In this venture, AG&P LNG will hold a 51% equity stake, while SEL will hold 49%.
Next Steps
The agreement is subject to due diligence by both parties, and the terms and conditions of the transactions will be finalized post-diligence. The companies will provide updates on the progress of the agreement as and when they occur.
Implications for India’s LNG Sector
The partnership between SEL and AG&P LNG is expected to play a significant role in shaping India’s LNG sector. With the country’s growing demand for clean energy, the collaboration is poised to contribute to the development of India’s LNG infrastructure and supply chain. The agreement also underscores the importance of international cooperation in driving growth and investment in the sector.
- MMT
Team Matrix
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Womar Tanker Pools Marks 15 Years of Growth and Success with Special Anniversary Event on Stad Amsterdam
- Pratik Bijlani
On December 20, Womar Tanker
Pools celebrated a major milestone in style, hosting an exclusive cocktail party on the iconic Stad Amsterdam, moored at Mumbai’s prestigious Indira Docks. This sophisticated soiree commemorated 15 years of Womar’s excellence in the maritime industry, seamlessly merging tradition and innovation.
Since its inception in 2009, Womar Tanker Pools has emerged as a pioneering force in global tanker pool management, revolutionizing the industry with its ground-breaking pooling model. Headquartered in Singapore, with a strategic network of offices in Mumbai, Copenhagen, Stamford, Houston, and beyond, Womar expertly manages a fleet of over 50 tankers, supported by a team of 60 dedicated professionals and 400 skilled seafarers. Each year, the company handles an impressive 10
million tons of cargo, navigating a vast network of over 2,000 ports worldwide.
The festivities took place on the majestic Stad Amsterdam, a stunning three-masted clipper ship that masterfully blends 19thcentury charm with modern technological advancements. Launched in 2000, this 76-meter-long vessel boasts an impressive 2,200 square meters of sail area, spread across 31 sails. The ship’s unique design and rich history lent an air of sophistication to the event, which was attended by prominent industry figures, including Capt Gurdeep Singh, Capt Hiren Mehta, Mr PV Raman, Mr Laxman Patkar from Tolani, Mr Ajay Reshamwala, MD of Reshamwala Brokers; Mr S Pattabi Raman from M Pallonji group, RIL, IOCL, Aramco, Capt Abhay Naithani from GMS, Capt Rakesh Malik from MB Brokers, Atlantic shipping, J M Baxi, GAC, DNV, Janson Chartering, Sunrich Chartering, Nash Shipping, Capt Venkatesh Gomatam from V ships, Deepak Correa from
FML, Mr Manish Jain, COO of Womar Tanker Pools; Mr Hitesh Shah, CFO of Womar Tanker Pools; Mr Rajesh Nayak, Technical Director of Womar and Ms Hetal Vaishnav, Vice President at Samudra Marine, among other distinguished guests.
Mr. Hans Van Der Zijde, CEO of Womar Tanker Pools, extended a warm welcome to the guests, delivering a sincere and introspective speech that reflected on the company’s remarkable journey. He highlighted Womar’s notable achievements and diverse ventures, including its strategic expansion into dry bulk shipping and offshore operations. “Over 2,000 ports called per year, over 10 million tons of cargo carried around the globe. And proudly, we received the ‘Deal of the Year’ from Marine Money Award, celebrated this May on the NASDAQ,” he said, emphasizing the collaborative spirit that underpins Womar’s success.
The event also shown a spotlight on the Stad Amsterdam’s Captain, Andi Manser, who
regaled the audience with stories about the ship’s distinctive operations and the strong bond among its crew members. He revealed that the ship has a diverse team of 30 crew members, comprising technical, sailing, nautical, and hospitality staff, who all work together seamlessly to ensure the ship’s smooth operation. “What’s remarkable is that our hospitality staffs even lends a hand in unfurling and setting the sails, demonstrating the collaborative spirit that defines our team,” he said. The guests were enthralled by Captain Manser’s anecdotes about the ship’s voyages and its unique blend of traditional sailing techniques and modern comforts.
The Stad Amsterdam, a luxury charter vessel with a rich legacy of global exploration, has embarked on numerous notable voyages and races, including a highly publicized retracing of the HMS Beagle’s iconic journey. As it currently navigates the waters of India, the ship offers a unique fusion of adventure,
luxury, and maritime heritage, reminding us of the industry’s eternal allure and its capacity to inspire and captivate audiences worldwide.
The evening on the Stad Amsterdam was a resounding tribute to Womar’s pioneering spirit in the shipping industry, where innovation, tradition, and collaboration converged in perfect harmony. As guests savoured cocktails and a sumptuous buffet, they toasted not only Womar’s achievements but also the collective dedication to propelling the maritime sector forward. The event stood as a testament to the industry’s unwavering resilience and its ability to inspire, innovate, and bring people together in a shared pursuit of excellence.
- MMT
MMS Maritime Emerges Victorious
IMPL Season 3 Concludes on a High Note
The ATPI-Marex Indian Maritime Premier League (IMPL) Box Cricket Tournament 2024 made a triumphant return for its third edition, bringing together maritime professionals from across India in a joyous celebration of sports, friendship, and industry unity. Now a flagship event for the maritime sector, the tournament took place on December 14-15 at The Celebrations Sports Club in Andheri, Mumbai, featuring a record
38 teams and 450 players competing fiercely over two days on four turfs.
- Pratik Bijlani
The tournament got off to a thrilling start with a grand inauguration ceremony, where Capt Kamal Chadha, MD of Marex Media, was joined by Mr Manan Oberai, Head of Manning at Zodiac Maritime India, and Mr Subrat Mukherjee, Director (Manning), Dockendale Ship Management. Together, they released national tri-colour balloons, setting the tone for a vibrant and patriotic tournament. Capt Chadha addressed the energetic crowd, expressing his delight “We are really happy to see 38 teams over here, and this is a record for us because before that we’ve only had fewer teams.” His statement reflected the overwhelming success of the event, which surpassed all previous editions.
Mr Mukherjee praised the impeccable organization and vision behind IMPL, stating, “I wish Captain Chadha and team Marex a fantastic event ahead. Who have done a doyen of service; I would say that, by organizing this continuously for the last three years.” His words emphasized the league’s growing significance as a unifying platform for the maritime community.
The tournament was marked by intense competition as the 38 teams, split into 10 groups, clashed in the group stages over the course of two days. Established players like MMS Maritime Pvt Ltd, Suntech Ship Management, Seaspan Crew Management, and Atlantas Group stole the show, demonstrating exceptional skill, clever strategy, and seamless teamwork. As the competition narrowed down to the semi-finals, four worthy teams emerged, setting the stage for a thrilling finale. MMS Maritime dominated Atlantas Group with a convincing 50run win, while Suntech Ship Management narrowly edged out Seaspan Crew Management in a nailbiting match.
In a thrilling third-place playoff, Atlantas Group emerged victorious, defeating Anglo Eastern Maritime Services by a convincing eight-wicket margin to claim the 2nd Runner-Up spot.
The highly anticipated final match pitted MMS Maritime Pvt Ltd against Suntech Ship Management in a nail-biting contest. MMS Maritime’s batsmen laid the foundation for a strong total, which was expertly backed by a disciplined bowling attack that kept Suntech under constant pressure throughout the chase. Ultimately, MMS Maritime’s determination and poise paid off, as they claimed the championship with a convincing 35-run victory. In the post-match interview, MMS Maritime’s captain, Mr. Samadhan, revealed the team’s straightforward yet effective
approach, stating, “My message to the team was simple: give it your all, and everything else will fall into place.”
Although Suntech Ship Management fell short of the championship title, their performance was a testament to their unwavering dedication and perseverance. Captain Mr. Yogesh embodied the team’s unrelenting spirit, saying, “We’ll start preparing for next season immediately, and I’m confident that we’ll come back stronger and lift the trophy next time.” His words captured the essence of the maritime professionals’ resilience and commitment to excellence.
The IMPL Season 3 was a testament to the power of unity, sportsmanship, and collaboration, transcending mere competition to become a celebration of camaraderie and shared passion. Several players stood out for their exceptional performances, including Mr. Aniket More from Mumbai Mariners Cricket Club, who amassed an impressive 171 runs in just three matches, and Ms. Rina Pawar from Seaspan Crew Management, who demonstrated remarkable all-round skills with both bat and catches. Additionally, Mr. Janardhan from Suntech Ship Management received special recognition for his outstanding achievements, claiming the titles of Best Catcher (Male) and Best Bowler (Male).
The IMPL 2024 tournament came to a close with MMS Maritime Pvt Ltd emerging as the champion, Suntech Ship Management securing the 1st Runner-Up position, and Atlantas Group claiming the 2nd Runner-Up spot. The league had achieved its goal of bringing the maritime industry together in a vibrant and informal setting, forging connections that would last long after the cricket field had fallen silent. As the excitement of the tournament faded, one thing was clear: IMPL had once again proven itself to be a ground-breaking event, celebrating the passion, unity, and unwavering spirit of India’s maritime community.
MMT
WinGD Paves the Way for MethanolPowered Shipping
WinGD’s X-DF-M engine
Swiss marine power company WinGD has reached a milestone in realising its X-DF-M methanolfuelled engine design, running the first commercial engine at full load on more than 95% methanol fuel. The ten-cylinder, 92-bore 10X92DF-M engine was run on a testbed at CSSC-MES Diesel (CMD) in Shanghai in midDecember.
The engine will be installed on the fourth of a series of 16,000 TEU container vessels being built for COSCO Shipping Lines at COSCO Shipping Heavy Industry (Yangzhou) shipyard. As reported, the single-fuel 10X92-B engines on earlier vessels in the series will be converted for methanol once the first newbuild X-DF-M engine has been commissioned.
WinGD Vice President Research & Development Sebastian Hensel said: “After validating the methanol technology on our 920mm bore Single Cylinder Test Engine, the 10X92DF-M is running smoothly at full load and according to our expectations. This achievement is a key moment in delivering on our promises to our customers considering methanol fuel, and I am grateful to our engine builder partner CMD and our colleagues across WinGD for their remarkable efforts.”
The engine ran with less than 5% pilot fuel and minimal pilot fuel injector opening times. WinGD’s site team at CMD reported excellent engine condition following the full methanol running. The trip function to diesel fuel and switching to methanol, at 45% and 75% engine load, were also tested. Engine testing will now proceed on schedule for delivery to the yard within the agreed timeline.
Earlier this year COSCO Shipping Lines confirmed the selection of 9X92DF-M engines for an additional twelve 14,000 TEU vessels, reinforcing the company’s strong support for WinGD’s methanol technology. In total WinGD has 56 X-DF-M engines on order covering a range of bore sizes, with discussions ongoing for several more engines.
- MMT
SEBASTIAN HENSEL
Vice President Research & Development, WinGD
2025: A Look at the Year Ahead
Aswe enter the holidays perhaps the most common emotion among Owners, Operators and brokers will be disappointment.
At various points in 2024, great things have been expected in the dry and tanker markets, but they have not quite materialised.
Recency bias dictates that our memories will be clouded by a miserable December.
As we write, VLCC rates have dropped below $20k/ day, and Capesizes have continued to slide to below $10k/day.
After a period of rest and reflection over the holidays though, perhaps the mood will become more philosophical. By no stretch of the imagination should 2024 be remembered as a bad year, more as a year of two halves.
The BDI, now below the 1,000 line, has still averaged 1,764 to date, its fifth best year since the 2008 financial crisis.
Capes have averaged over $20k/day for only the second year since 2010.
Tanker rates have enjoyed another strong year, if not quite as good as 2023.
Add on top the premiums that eco or scrubber- fitted ships earn over the indices, and it has still been a very profitable year. Even more so, for the many Owners who have already paid down their debts. Yet at the same time, there is a nagging sense that all the optimism in the first months of the year, as reflected in then dizzyingly high asset values, was building up to a winter wonderland in Q4 and beyond.
This boom was expected, but also much- needed to justify some of the prices being paid. Instead, Father Christmas left behind a few lumps of coal, and a bleaker outlook for 2025 too.
In all major dry and wet sectors (except Handy bulkers), 1H-24 was better than 2H-24. This goes against the usual prevailing seasonal winds too, with both markets traditionally expecting a strong Q4. As such, many of the gains in asset values seen in the first half of the year have been undone. Who is to blame for this winter woe?
For Tanker Owners there are two grinches that stole Christmas; OPEC’s sealed taps and lacklustre Chinese demand.
Chinese oil demand seems to have plateaued, ahead of previous forecasts.
Weak economic growth, a shift to LNG-fuelled trucks and the growth in electric vehicles, sales up 50% YoY in Nov-24, have all eaten into Chinese oil demand.
New EV’s have now overtaken new internal combustion engine sales in China. Alongside stagnation in Europe, there has been no demand spark to help crude prices. In turn, OPEC+ have kept the taps closed to support price targets, with Middle East tensions giving only occasional, short-lived boosts to prices.
As such, there has been less oil on the water, and larger crude tankers cleaned-up and cannibalised the product market.
Looking at the Chinese economy, it would also be tempting to blame it for the gloom in the dry market too.
The property market remains in a downward spiral, demand for steel is rusty and there is no sign yet of the Central Government being able to spark the consumption boom needed to lift the mood. But to blame China alone would be lazy and wrong.
Chinese imports of coal, iron ore and bauxite are all ahead of last year’s very impressive figures. Based on AIS vessel-tracking data, we can be confident that the final totals from the end of year customs figures will match or break previous annual records.
China’s economy no longer grows at 10%pa, even 5% is a stretch, but it is still growing, unlike zombie European economies and industries.
Stubborn fleet growth (~3%pa), slow demand exChina, lower congestion and plateauing tonne-mile growth are as much to blame for the recent dry slump.
So, what lies ahead in 2025?
One thing that is certain, if you want to buy tankers or bulkers, it will be cheaper in the Boxing Day sales than it would have been a few weeks ago.
We are now starting to see real falls in tanker values, albeit with limited liquidity.
The slide in the drybulk market is a few weeks more advanced. The bulls will notice the sheer volume of cash and investors waiting on the sidelines for prices to fall and know that most sellers are under no pressure to sell.
It is not 2016 all over again.
This could offer a natural floor to values. So should the attractive fleet age profiles and the difficulty in getting a newbuild, maybe this will trigger a buying frenzy when the market reawakens.
The bears will say that assets were over- valued relative to rates anyway, and this is just the start of a much overdue correction. The Wise Men will dodge the question and say it depends on the freight market.
Will OPEC+ offer a late Christmas present and re-open the taps some time in 2025?
Will the Chinese government finally get the economy moving? And what of Mr Trump and his tariffs?
A Merry Christmas and a Happy New Year to all our readers, 2025 promises to be another fascinating year of opportunity, volatility and disruption.
Weekly Commentary
Dry Cargo Chartering
Despite a positive start, Capesize markets endured another week of sharp declines in the run up to Christmas.
In the East, Owners generally accepted lower offers and prioritised fixing ahead of the holidays, and whilst the South Atlantic and West Africa markets saw some slight positivity. T/Atlantic rates were said to be very poor.
Timecharter averages closed at $9,244, a further fall of $1,230 from last reported.
From Australia, Rio Tinto booked five TBN’s ex Dampier for early January dates and paid between $7.40 pmt and $6.25 pmt into China, while elsewhere Vale covered Rosemary (179,742-dwt, 2010) for Teluk Rubiah/Qingdao at just $4.75 pmt.
From R.S.Africa, Cape Valencia (181,434-dwt, 2012) fixed Saldanha Bay/Qingdao at $10.79 pmt.
Over in South America, Cargill chartered Alpha Confidence (176,320-dwt, 2011) for Tubarao/China at $16.55 pmt, Oldendorff covered the same route with Marigo P (179,218-dwt, 2016) with a West Africa loading option at $16.25 pmt, and EZDK fixed 160,000 mtons 10% Tubarao/El Dekheila at $8.00 pmt.
From Canada, Mittal took Jewel (175,784-dwt, 2012) for 150,000 mtons 10% Port Cartier/Qingdao at $25.75 pmt, and Rio Tinto fixed Max Warrior (205,361-dwt, 2014) for 190,000 mtons 10% Seven Islands/Oita at $23.50 pmt.
Panamax markets in Asia saw minimal activity this week with sentiment remaining low and rates reducing further.
More fixtures were seen in the Atlantic driving a small uptick in averages at the end of the week, but overall tonnage lists continued to grow.
By Friday the P5TC closed at $8,782, a slight decrease of $173.
In the Pacific, K Line took Fiesta (80,554-dwt, 2013) delivery Kinuura 19/20 December for a NoPac round trip at $6,750, while we heard that Armonia A (82,084dwt, 2018) fixed delivery Hadong also for a NoPac round trip at $7,250, and Multimax chartered Huayang Endeavour (75,492-dwt, 2013) delivery Meizhou for a trip via Indonesia to South China at just $4,500.
In the Indian Ocean, Teambulk fixed Navios Sky (82,056-dwt, 2015) delivery APS Richards Bay for a trip to India at $13,000 + $300k bb.
In the Atlantic, Sakizaya Ace (74,936-dwt, 2013) fixed delivery Ghent for a trip via Brazil to Egypt Med at $10,500, Louis Dreyfus fixed Key Hunter (82,099-dwt, 2011) delivery APS ECSA for a trip to Skaw-Gibraltar at $15,500, and Koch Trading took Globe Danae (80,306- dwt, 2010) APS ECSA for a fronthaul trip to Singapore-Japan at $12,650 + $265k bb.
On voyage, SAIL covered 75,000 mtons 10% coal Newport News-Norfolk / Visakhapatnam at $30.10 pmt.
The BSI closed at $11,876, down $241 from last week.
Fundamentals in the Atlantic remained the same, the US Gulf and South Atlantic were stable, whilst the Continent Mediterranean had limited cargoes to support rates.
Ships were still clustered in Indian Ocean, showing little signs of improving.
Similarly, many prompt ships were available in the Pacific Ocean this week with little reported activity.
Alongside less enquiries from the North Pacific, Indonesian coal freight was notably affected by the bigger sizes as well.
Although slightly more cargoes in January were out, the sentiment remained weak.
In the Pacific, Tai Success (61,486-dwt, 2013) delivery Gresik fixed for a trip via West Australia redelivery Philippines with grains at $13,000 by Norden, and Hopa (63,301-dwt, 2013) delivery Dumai prompt was fixed for a trip via Indonesia redelivery China at $10,750. For the North Pacific, Galaxy Express (63,750-dwt, 2024) fixed delivery South Korea for a trip via North Pacific redelivery East Coast IndiaBangladesh range at $13,000 by Drydel.
In the Indian Ocean, Afros (63,223-dwt, 2018) delivery Haldia was heard fixed for a trip to West Coast India with intention iron ore at $11,500, Visha
Nidhi (57,144-dwt, 2011) open Mumbai was heard fixed delivery Mina Saqr for a trip redelivery PG - East Coast India in the mid $9,000s.
Limited fixtures were reported in the South Indian Ocean, Pacific Award (61,411-dwt, 2015) open Beira was heard fixed for delivery South Africa for a trip redelivery Pakistan at $16,000 by Propel.
In the Atlantic, Zagori (63,492-dwt, 2019) delivery Recalada mid December was fixed for a trip redelivery Arabian Gulf at $14,500 plus $450,000 ballast bonus, Nord Allegro (61,263- dwt, 2007) delivery South-west Pass was fixed for a trip redelivery Far East with grains at $18,750 by Drydel.
Across the pond, it was heard Tai Stride (64,539-dwt, 2022) open Antwerp prompt was fixed for delivery Skaw via Klaipeda to South Africa with grains at $14,750.
The Handysize market struggled this week, leaving Owners with little choice as we approach Christmas.
The BHSI closed today at $10,427 down $706 from last week.
On the Continent, it didn’t take long for Baltnav to cover their Rouen to Morocco grains run at $7,500, basis arrival pilot station Rouen on a 38,000-dwt. Nova Marine covered their usual Baltic to West Africa run at $12,000 on a 38,000-dwt. Julia (37,449-dwt, 2018) open Brunsbuttel fixed delivery passing Skaw via Gdansk to US Gulf with petcoke at $7,750.
The Mediterranean was even sharper with very few cargoes entering the market, although it was reported, AP Revelin (38,795-dwt, 2016) fixed delivery Damietta for a trip redelivery Port Harcourt with bagged gypsum at $13,000 with Breadbox.
The US Gulf started cooling, with a build up of tonnage. A large handy fixed delivery South- west pass for a trip to Casablanca $12,000. Pacific Basin fixed Mazowsze (38,981-dwt, 2009) delivery South-West Pass for a trip into East Coast Mexico with grains at $12,000. Szare Szeregi (39,072-dwt, 2017) open US East Coast fixed via Savannah for a trip to the Continent at $13,000 with J. Lauritzen.
In the South Atlantic, the market was softening but was arguably the strongest market in the Atlantic. Ocean Gracious (38,276-dwt, 2013) open Sevilla fixed basis delivery North Brazil for a trip into Caribbean at $14,250. Appaloosa (36,067-dwt, 2013) fixed delivery Santos for a trip redelivery to Nigeria at $17,000 with Oldendorff. First Brother (32,385-dwt, 2003) open Salvador fixed delivery Recalada to redelivery Brazil with wheat at $13,000 with AEC.
In the Pacific, sentiment remains negative as we approach the holiday season. Despite a stable cargo
book, there is an increasing tonnage count. Owners have started offering more aggressive rates, while Charterers are not rushing to secure bookings, and moving only to the rates below last done, thereby no significant uptick in activity is expected in the near term.
In the Far East, a 33,000-dwt vessel open CJK was heard fixed at $11,000 levels for a trip to the Far East while a 32,000-dwt vessel was also heard fixed from Korea into East Coast India at low $12,000’s.
In South East Asia, a 32,000-dwt vessel was heard fixed from Philippines to the Far East at low $8,000’s. It was heard a 28,000-dwt vessel open Singapore fixed on subs for an Australia round voyage at $7,000.
Dry Bulk S&P
Following last week’s sole sale, there has been a surge of activity, a final flurry before the Christmas holidays begin. There have been very few Newcastlemax sales recently, however Panoramix (203,512-dwt, 2007 CSBC - scrubber fitted) is reported sold this week for $28m to Chinese buyers however the sale must have been concluded a while ago as she has delivered to buyers yesterday.
The last comparable sale was the non- scrubber fitted Crassier (206,254-dwt, 2007 Imabari) sold for a similar level around two months ago.
There are two capesizes changing hands this week - K Line having bought FEG Success (182,619-dwt, 2010 Kawasaki) for $28m, and the one-year younger Zampa Blue (178,459- dwt, 2011 Mitsui) sold for $30m to undisclosed buyers.
At the beginning of the month the Sasebo built and scrubber fitted K. Victory (181,500-dwt, 2012) was
sold for $33.5m Kouros Maritime are reported to be behind the purchase of Indigo Omega (56,092-dwt, 2012 Mitsui) for $17.2m, a drop on the sale of ND Armonia (56,121-dwt, 2011 Mitsui) this time a month ago for $17.95m, but in line with todays benchmarks.
Older units continue to attract buyers, with SSI Nemesis (56,023-dwt, 2005 Mitsui) understood sold for $10.9 mill, and Zein (52,042-dwt, 2001 Tsuneishi) sold for $7.0m, a healthy premium over todays scrap levels.
The only handysize deal to report this week is the Imabari 28 Momo Glory (28,222-dwt, 2014 Imabari) to Greek buyers for $12m.
Tanker Commentary
The market has seen a notable uptick in transactions with a flurry of activity this week. The spread between buyers and sellers has closed sufficiently for some deals to conclude with the majority of sales reported below last done.
At the time of writing the nationality and names of the buyers on all the tanker sales remain unknown.
There have not been any pumproom MR sales since early October and now we have two in a week. Zinc coated, Kyra (47,931-dwt, 2006 Iwagi) was sold for $17.1m, while a year- younger vessel, Chiba (45,975dwt 2007, Shin Kurushima), achieved a similar price of $17m however she has drydocking due in April 2025 whereas Kyra’s next docking is in 2026.
For context, the most recent pumproom MR sale was that of Arsos M (45,737-dwt 2004, Minaminippon), which changed hands in early October for $16m.
Additionally in the handy space, Valle di Granada (40,218-dwt 2005, HMD) was sold for $13.35m. The last comparable vessel, Sunflyte (37,272-dwt, 2001, HMD), was sold for $11.5m at the beginning of December.
In other news, it was revealed earlier this week that Oslo-listed Stainless Tankers has offloaded two of its older J19 vessels. Marmotas and Monax (both 20,000-dwt, 2005, Usuki - StSt) were sold together for an en bloc price of $31.4m. The last transaction for a
J19 vessel was the sale of Songa Breeze (19,999- dwt, 2009, Fukuoka) at the start of December for $23.8m.
Lastly, Vietnamese Owners Hai Phong Shipping have reportedly sold Dai Thanh (13,068-dwt 2007, 21st Century) for $9.5 million. This follows the sale of a two year younger sister vessel, Winter (13,052 dwt, 2009, 21st Century), which was sold three weeks ago for $13.9m.
LNG Vessel CMA CGM FORT DIAMANT Makes Historic Maiden Voyage to Nhava Sheva, India
CMA CGM Group, a global leader in sea, land, air and logistics solutions, announces the arrival of its state-of-the-art 7300 TEU LNG (Liquefied Natural Gas) vessel –CMA CGM FORT DIAMANT in India at Nhava Sheva Free Port Terminal (NSFT). This landmark event marks a significant milestone in the CMA CGM Group’s commitment to sustainable and efficient maritime transportation.
CMA CGM FORT DIAMANT is the third in a series of four 7,300 TEU LNG-powered ships, all equipped with nearly 1,400 reefer plugs.
The vessel is part of CMA CGM’s AS1 service (Asia Subcontinent service) with port rotation as Qingdao-Shanghai-Ningbo-Shekou-Singapore -Nhava Sheva - Mundra-Karachi-Singapore.
The AS1 serves the Asia – India trade that forms 44% of India’s total imports and caters to the gateway ports of Nhava Sheva and Mundra, in addition to providing the right balance for equipment supply into India for exports.
“We are proud to welcome the maiden voyage of LNG vessel CMA CGM FORT DIAMANT to India. This vessel not only demonstrates our Group’s commitment to offer sustainable shipping and logistics solutions but also enhances our ability to serve our customers with greater efficiency and reliability” – said Atit Mahajan, Managing Director – CMA CGM Agency India
The CMA CGM Group is focused on reducing its energy consumption through operational excellence and asset optimization while increasing the share of low-carbon energies in CMA
CGM’s energy mix, both through the acquisition of suitable assets and the development of its production sectors.
Additionally, the Group has committed $18 billion to order 131 LNG and methanol ships, capable of using low-carbon energies (biogas, bio methanol, and synthetic fuels), in the fleet by 2028.
CMA CGM Group, a leading industry player in India, with a strategic network of new generation multiuser terminals to support the growth and reliability of its commercial and operational activities.
CMA Terminals (CMAT), a fully owned subsidiary of the CMA CGM Group together with J M Baxi Ports & Logistics Ltd., a unit of the 106-year-old Mumbaibased J M Baxi Group, operates the Nhava Sheva Freeport Terminal Pvt Ltd. In addition to this, the Group jointly operates CT4 terminal in Mundra under a JV with Adani Ports & SEZ since 2016.
The CMA CGM Group is consolidating its endto-end service offering and establishing greater control over the logistics chain to offer its
customers higher quality, integrated, digital and more sustainable services in a context that requires a comprehensive approach to the supply chain. As one of the nation’s top ocean-freight carriers, CMA CGM is well positioned to serve its customers, thanks to a strong presence in India over the past three decades.
“This is a big step forward in ensuring we jointly live up to the commitment of reducing marine pollution & GHG emissions. The vessel’s arrival at NSFT underscores the port’s capability to handle next-generation vessels and demonstrates the growing collaboration between the terminal / port and shipping lines in advancing green shipping solutions”, said Anirudhha Lele, CEO – Nhava Sheva Free Port Terminal.
With more than 30 years of market presence in India, the CMA CGM Group is a leading industry player with over 15,000 staff members in India. CMA CGM connects the country to the rest of the world with 18 shipping services making weekly calls. CEVA Logistics, CMA CGM’s logistics arm, is currently present in 105 locations across 31 cities in India with approximately 870,000 square feet of warehouse space. With the acquisition of Stellar VCS in 2023, CEVA Logistics strengthened its position as a key player in Indian contract logistics, offering its new diverse customers a wide range of global and local expertise in addition to increased operational efficiency and innovation.
- MMT
IRS supports Defence indigenisation through marine component certification
Indian Register of Shipping (IRS) has undertaken the certification of indigenously developed marine components for defence projects, marking a significant milestone in enhancing defence and maritime manufacturing capabilities within the country. The product certifications were conducted in compliance with national and international standards/specifications.
Among the projects validated and certified is a fouling-release coating, developed by DRDO’s Naval Materials Research Laboratory (NMRL). This advanced coating is designed to inhibit fouling due to marine growth when applied on the underwater portion of hulls of ships and submarines. It is currently undergoing user trials, and the technology will soon be transferred to manufacturers for mass production.
A fully automated Marine Sewage Treatment Plant developed by M/s. Krasny Defence Technologies Ltd. has been recently certified by IRS, towards ensuring compliance with environmental safety standards.
Further, an “Intelligent Weld Inspector” has been developed by M/s. Garden Reach Shipbuilders and Engineers Ltd., a Defence Public Sector Undertaking. This is a rule-based AI algorithm that automates the recognition of weld defects by analysing computerized radiography images, thereby improving precision in non-destructive testing of welds and acceptance by class.
Also, M/s. QED Analytical LLP has designed an AIbased Magnetic Flux Leakage (MFL) sensor for wire rope testing, which utilizes permanent magnets and ‘Hall effect’ sensors to detect flaws in steel wire ropes, thereby ensuring their safety and reliability.
Cdr KK Dhawan, Head Defence IRS,
The certification process involved close collaboration between IRS and the developers, including comprehensive technology assessments, development of quality assurance measures, and satisfactory performance trials witnessed by experts.
Cdr KK Dhawan, Head Defence IRS, stated: “It is a matter of great pride for IRS to collaborate with Indian industry partners for certifying indigenously developed products for the defence and maritime industry. The growing synergy between Indian manufacturers and IRS marks a positive step forward in the ‘Make in India’ initiative of Government of India by fostering innovation and self-reliance in the defence and maritime sectors.”
- MMT
The Visionary behind Shipskart
Dhruv’s Journey to Transforming Maritime Procurement
Capt Dhruv Sawhney, Co-Founder & CEO, Shipskart has been an integral part of the maritime industry for over 14 years, commencing his career as a cadet with Gearbulk and later sailing on oil tankers. In 2011, he transitioned to the offshore industry, where he worked with Bourbon Offshore until 2017.
Capt Dhruv Sawhney CEO & Founder, Shipskart
His extensive experience in the field has been instrumental in the growth of Shipskart, as he has first-hand knowledge of the problems related to purchasing at the ground level. As the person responsible for the company’s business development, Dhruv’s expertise has been invaluable.
He believes that running a start-up is a continuous learning experience, and one of the key takeaways for him is that “Perseverance & hard work beat talent any day.” He emphasizes the importance of putting in the effort to do the mundane tasks day in and day out, as this ultimately
Dhruv also acknowledges that there comes a point in a
founder’s journey where it is essential to surround themselves with people who are smarter and more capable than themselves. He recognizes that being the founder does not necessarily mean that one has all the answers, and it is crucial to empower team members to take ownership and drive the company forward.
Furthermore, Dhruv stresses the importance of keeping the team happy and motivated, as this is critical to achieving the company’s vision.
In conversation with Miss Delphine Estibeiro of Marex Media, Dhruv delved into the origins of Shipskart, shedding light on the company’s pioneering
mission to harness innovation and revolutionize the supply chain, while also revealing the pivotal strategies that have propelled the company’s remarkable success.
Birth of a Revolutionary Idea…
As I reflect on my career, I recall the numerous challenges I faced with procurement at the ground level. The process was often cumbersome, with requisitions being made on outdated Excel sheets or antiquated ERP software. Through discussions with friends working in purchasing departments, I gained a deeper understanding of the obstacles they encountered.
It became clear that the industry was on the cusp of digitalization, and I saw an opportunity to create something ground-breaking. This sparked the idea to launch Shipskart, a platform that would revolutionize the maritime procurement landscape. By leveraging digitalization, I aimed to streamline the procurement process, making it more efficient, transparent, and cost-effective. The vision was to create a platform that would transform the way maritime companies sourced and procured goods, and I was determined to turn this vision into a reality.
A Friendship Forged in Innovation…
My journey with Vivek began in 2003, when we met as pre-sea batch-mates at the prestigious ARI in Delhi. Our friendship blossomed, and we remained close over the years. I also had the pleasure of knowing Sunny for about 20 years, who brought a unique perspective to the table with his background in law and finance. Vivek and I had the opportunity to work together at Bourbon Offshore, where we witnessed first-hand the vast potential of the maritime industry.
However, we were struck by the traditional methods that still prevailed in the sector. This sparked an idea - what if we could create a platform that would
revolutionize maritime procurement and logistics, much like Amazon had done for e-commerce?
Our vision was to build a fully digital, streamlined platform that would connect vessel operators, suppliers, and other industry players, making the entire process efficient, transparent, and user-friendly. With our complementary skills and shared passion for innovation, we decided to turn this idea into a reality. And so, Shipskart was born - a testament to the power of friendship and collaboration in driving innovation and modernizing the maritime logistics industry.
Transforming Logistics with Innovation… Shipskart is revolutionizing the logistics landscape with its cutting-edge, digital-first platform that boasts a range of innovative features, setting it apart from traditional providers.
1. We provide a comprehensive digital catalogue of over 10,000 products, complete with brand images, technical data sheets, and live pricing from over 800 vendors worldwide
2. Unlike traditional logistics systems, Shipskart uses AI-powered predictive pricing, helping users anticipate future costs and make smarter decisions
3. The platform also offers real-time tracking of orders, allowing users to monitor deliveries just like tracking an Uber ride. With owned warehouses and a global vendor network, we ensure timely deliveries
4. Customizable dashboards provide detailed insights into spending patterns, vendor performance, and budget management, helping businesses optimize costs and resources
5. With integrated access to delivery notes and invoices in one hub, Shipskart simplifies administrative processes
Capt Sawhney (7th from right, front row) with the talented Shipskart team
By combining real-time data, advanced AI, and seamless logistics management, Shipskart delivers a superior, more efficient alternative to traditional logistics providers. A key differentiator is that Shipskart digitalizes 100% of end-to-end procurement, whereas traditional ERP companies only digitalize around 60%, making it a gamechanger in the industry.
Shipskart’s Solution for Maritime Supply Chain Efficiency…
The maritime industry is facing a significant challenge in adopting technology to enhance process efficiency, communication, monitoring, and data analysis, both on vessels and on shore.
Unfortunately, the sector is approximately 30 years behind the technology curve, with many outdated practices still prevalent. For instance, bills of lading are still paper-based, and purchases of spares and stores are often made through phone calls and emails.
Moreover, the aggregation and utilization of operational and financial data across enterprises are limited, leading to suboptimal decision-making. Shipskart is addressing this issue by revolutionizing the supply chain and procurement process in the industry.
Currently, most maritime and offshore companies rely on manual, antiquated methods for managing requisitions, seeking vendors, placing orders, and arranging deliveries of essential items such as spares, stores, consumables, and provisions. These items account for a significant 30-40% of total operating costs, yet few companies invest in making the system and process efficient, trackable, and predictable.
To tackle this problem, Shipskart has developed a robust platform that can be seamlessly integrated with any ERP software. This allows vessels and companies to continue using their existing ERP software on the front end, while Shipskart’s features are integrated at the backend, providing 100% digitalization. Some of the key features of the platform include:
• Digital Online Catalogue – covers global provisions and stores, including brand names and pack sizes for each product
• Live Pricing
• Predicted Pricing using AI
• 800+ Vendors registered with online KYC across the globe
• Track Your Truck – enables users to track realtime deliveries, just like tracking an Uber
• Real-time Spending Pattern Data and MIS Reports
Leveraging Innovation to Drive Logistics Excellence…
Technology in logistics is evolving rapidly, with trends like AI and machine learning, automation, real-time data analytics, and IoT reshaping the industry. These innovations enhance efficiency, streamline operations, and enable smarter decisionmaking through predictive pricing, task optimization, and real-time shipment tracking. As automation improves the supply chain, data-driven insights are helping businesses adapt faster to changing market demands.
Shipskart is already taking the first-mover advantage by partnering with prominent clients and ERP service providers, positioning itself as a leader in the logistics space. Additionally, the trust and support of key investors from the maritime sector, including TMV, Betaron, Wami, and Motion Ventures, further solidify Shipskart’s position as a forward-thinking logistics provider
Key Strategies for Success…
Embarking on a logistics venture can be a highly rewarding endeavour, but it also presents a unique set of challenges that must be navigated. To stay ahead of the curve, it is essential to embrace technological advancements, as the logistics industry is evolving at a rapid pace.
By leveraging innovations in technology, businesses can significantly improve efficiency, enhance customer experience, and gain a competitive edge. A deep understanding of the market is also crucial, whether your focus is on shipping, warehousing, or supply chain management, as this will enable you to tailor your services to address specific industry pain points. Building robust partnerships with vendors, carriers, and customers is vital, as logistics is an inherently network-driven business.
Capt Sawhney’s family - the anchor that holds him strong
Effective cash flow management is also critical, given the high operational costs associated with logistics, so it is essential to manage finances carefully. A prudent approach is to start small, deliver exceptional service, and scale gradually to avoid overextending. Prioritizing customer service is paramount, as offering reliable and efficient services, and being receptive to customer feedback, can help differentiate your business in a crowded market. Furthermore, resilience is essential, as setbacks are inevitable in the logistics industry. By focusing on technology, customer satisfaction, and operational efficiency, businesses can thrive in the competitive logistics landscape and achieve long-term success.
Shipskart’s Journey to Excellence…
Over the past half-decade, Shipskart has come a long way, solidifying its position as a leader in the maritime procurement division. From the outset, we’ve earned the trust of prominent customers such as Maersk Lines, MSC, and MOL, whose partnerships have been pivotal to our growth. Our platform has continuously evolved with advanced features and tools, transforming the way businesses manage and optimize their supplies. Additionally, we’ve secured significant funding from top-tier investors, fuelling our innovation and further expansion.
Our achievements have been recognized with prestigious awards, including Best Startup of the Year and Rising Star accolades from respected industry bodies like PortXL, Startup India, Dubai Chambers, Thetius, and ShipTek. Shipskart has also experienced year-on-year 2x GMV growth, expanding our presence through warehouses across India, allowing us to scale our operations and serve an increasing client base more efficiently.
Our team has grown from a humble manpower of 10 to over 100 employees, fostering a strong culture of collaboration and innovation. With a focus on employee welfare, we have created a supportive, family-like environment, united by a common goal— delivering cutting-edge logistics solutions that drive value for our customers.
Shipskart’s Vision for Maritime Procurement…
At Shipskart, our vision is ambitious and clear: to become the preferred procurement platform for the maritime industry, where every ship and every shipowner relies on our platform and its innovative features. We aim to provide our users with an unparalleled experience, similar to that of Amazon, and remain true to our tagline, “Clicked at SeaDelivered at Shore.”
To achieve this, we are prioritizing integration with the top ERP service providers, which will give us access to 10,000+ vessels. Our maritime catalogue is one of the keys to Shipskart’s success, and a lot of work is being done in this regard. To list 20,000 products globally is no small task, but we are progressively working towards it.
The year 2025 is expected to be a watershed moment for us, as we plan to make substantial strides towards realizing our vision and becoming the company we have always aspired to be.
With a strong foundation in place, we are poised to take the maritime procurement industry by storm and establish ourselves as the go-to platform for shipowners and vessels worldwide.
MMT
The Co-Founders
Raising Awareness & Fostering Opportunities to Nurture Maritime Talent
The maritime industry remains beyond doubt a vital pillar of global trade and commerce. But there is a widespread lack of awareness about the maritime sector within the nation, especially in the interior tier-2 and tier-3 cities, which poses a serious hindrance to getting suitable talent to consider the sector for a career.
This paper therefore aims to identify some of the key challenges posed by the lack of awareness, as well as to study proposed solutions.
Perception vs. Reality
More often than not, the only press coverage the industry gets is negative. The media predominantly portrays maritime incidents such as maritime accidents, piracy, and pollution incidents, which paint the industry and the potential employment
opportunities negatively, which in turn dissuades youth from considering careers within the sector.
The reality however, as the industry leaders will tell, is far from it. The maritime industry is integral to global trade and commerce, and offers a vast array of career opportunities beyond seafaring.
Employment Opportunities
The maritime industry, considering all its verticals, collectively provides the highest number of jobs globally. These jobs span various sectors, including but not limited to, maritime commerce, port operations, coastal and inland shipping, intermodal logistics, oceanography, etc. to name a few.
The sector plays a pivotal role in the global supply chain, ensuring the smooth flow of goods.
To effectively dispel any false perceptions that may stem from ignorance we need to approach this challenge in a structured manner.
Integrating Maritime Education in High School Curriculum
47% of the Indian population is below the age of 25, of which 24% is below 15. Perhaps the easiest way to create awareness about the sector then would be by introducing the maritime sector’s significance in high-school curricula.
• Highlight how the maritime industry is integral to our daily lives
• Emphasize the role of maritime transportation in the delivery of goods.
• Showcase the importance of ports in trade and commerce.
• Explain coastal and inland shipping’s contribution to regional development.
• Introduce intermodal and multimodal opportunities within the sector.
The list can be endless.
AWARENESS
SPARKS’
INTEREST…
By educating students at the school level about the maritime sector’s importance, we generate curiosity and interest. Encouraging students to explore career opportunities in maritime commerce, logistics, and related fields will create awareness of the opportunities and dispel the negative perceptions that stigmatise the possibilities.
Integrating maritime education into high school curricula is the first step toward rectifying this issue. Social media is a powerful tool, and influencers should be engaged to further generate interest in it.
Expanding Maritime and Environmental Studies
Once awareness is created, the seed is sown. As the next stage, introduce maritime and environmental studies as an elective in higher secondary syllabi.
This would invariably encourage students to delve deeper into maritime-related subjects. With growing unemployment in other industrial sectors, students can make informed choices to consider this highly lucrative seafaring profession, along with a career path beyond sailing.
By fostering awareness and interest in maritime careers, and a coherent road map beyond, we can ensure a steady supply of talented individuals to sustain the industry’s growth and development. India has this great opportunity to develop a skilled workforce equipped to address the sector’s evolving challenges.
Proper education, applying a structured approach, including a high-level understanding of the environmental concerns, will fuel the growth potential for serving the industry globally.
With the above foundation, career counselling sessions at school completion stage will garner far better traction with more students making informed choices aligned with their interests.
Key Takeaways:
• Awareness: Promote the importance of maritime trade, ports, logistics, and environmental sustainability.
• Employment: Highlight diverse career opportunities beyond traditional seafaring roles.
• Education: Integrate maritime and environmental studies into school curricula.
• Skill Development: Create a skilled workforce through education-industry partnerships and vocational programs.
• National Policy Alignment: Align efforts with India’s maritime policies and global environmental standards.
By taking these steps, India will have a distinct advantage to position itself as a leader in maritime manpower, providing a workforce with valuable skills that contribute to the growth and sustainability of the sector.
- MMT
The Complete Paper will be Published in a forthcoming edition of Maritime Matrix Today
The Author
Capt (Dr) Rajesh Tandon CEO, FOSMA
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Mr Sanket Chandwade
T: +91 83697 44069
E: sanket.chandwade@gac.com
Pune
Mr Arjun Bangar
T: +91 98196 69622
E: arjun.bangar@gac.com