Managing Dir Yahya Karah
Susesea Bulk is a global shipping company headquartered in the maritime hub of Singapore. The company is known for operating a modern fleet of bulk carriers dedicated to transporting a diverse range of dry bulk commodities across the oceans. Managing Director Yahya Karahasan explained more to Hannah Barnett.
Since it was founded in 2016, Susesea Bulk has positioned itself as a key player in the global shipping industry.
That is, as a ship management and ship operating company focused on the dry bulk segment. The company has made a mark by becoming something of a specialist in this area.
“We stand out, and make a difference, thanks to our commitment to transparency and the ability to make swift, amicable decisions in order to address any issues
that arise,” said Yahya Karahasan, Managing Director. “These qualities enable us to build trust and maintain strong, effective relationships with our clients and the business banks.”
A multitude of milestones
As a results-driven company, the last eight years have been successful and profitable for Susesea Bulk. Alongside a head office in Singapore, there is also now a branch office in Istanbul and a shipping representative office in London.
The company focuses on the Handy to Kamsarmax segments, utilising a mix of fully-managed vessels, long-term chartered tonnage and commercially-managed ships. This versatile approach ensures Susesea Bulk can provide tailored, cost-effective and reliable transportation solutions to meet the unique needs of its clients.
In the company’s early years, it managed its own fleet as an owner, it then started to charter in vessels to handle bulk cargoes
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SUSESEA BULK I PROFILE
on a project-to-project basis. That changed in 2019 when Susesea Bulk secured its first long-term charter vessel from a major entity based in China. This was followed, later that year, by another long-term charter vessel from the Japanese market. “These charters underscored the trust and reputation we have earned internationally,” said Mr Karahasan.
Perhaps the most significant milestone for Susesea Bulk passed earlier in 2024 when the company parted ways with its initial shareholders. “That has allowed us greater agility in business decision making,” Mr Karahasan explained.
Indeed, greater agility has been exemplified by the development of the fleet over the subsequent months. For example, the company recently signed a ship building contract with Nantong Cosco Kawasaki Ship Engineering Co shipyard for two units of 64,000DWT bulk carriers.
“As of today, we manage four modern Japanese-built Handy size bulk carriers and two Ultramax bulk carriers under our newbuild programme,” Mr Karahasan said. “Additionally, we commercially manage nearly 10 bulk carriers of various sizes through our affiliated company. ”
Sustainable shipping
Susesea Bulk’s sustainable growth strategy is driven by continuous improvement in quality, health and safety, business excellence, social responsibility, and environmental stewardship. This approach is guided by the company’s core values of strong management and transparency. The management team at Susesea Bulk remain keenly aware that success depends greatly on achieving business objectives, meeting the needs of staff and the surrounding communities, and protecting the environment.
“Zero-emission shipping is a hot and crucial topic in our industry,” Mr Karahasan said. “Like many ship owners, we are focused on optimising the performance of our fleet, including the installation of new technologies and application of silicon-based paints to improve efficiency of our ships.
“Additionally, we are investing in newbuilds and modern second-hand vessels only, so we are aiming to charter younger ships with lower emissions. This is a shared responsibility that requires careful monitoring. While the dry bulk sector has, in my opinion, successfully met the mandatory IMO regulations, achieving the IMO’s decarbonisation targets will be still be a significant challenge for us.”
The company also supports sustainable projects such as a carbon levies or similar regulatory incentives that promote the decarbonisation of shipping on a level playing field. Susesea Bulk also promotes
the offsetting of emissions, which can serve as a catalyst in the transition to a permanent carbon-free solution.
Partnerships to prosper
The company maintains strong relationships with customers around the world and has been involved with many important and effective projects. There are far too many success stories to draw attention to just one, according to Mr Karahasan.
“Our capabilities are evident in our overall performance,” he explained. “We achieve the results that often take others longer to get. By demonstrating our efficiency and expertise, we constantly deliver on complex projects and innovative solutions. This showcases our adaptability and capacity to excel.”
On the other side of the supply chain, Susesea Bulk strives to maintain a robust relationship with suppliers, as any successful company, especially one with an international footprint, must.
“We maintain an open and welcoming approach with all potential partners,” explained Mr Karahasan. “We choose to do business with professional and reliable companies that share our values. For example, we have a commitment to timely, or even early, payments, which enhances our trust and reliability. Moreover, we strive to build personal connections with our suppliers and business partners to ensure long-term collaboration.”
Forward focused
Looking ahead, Susesea Bulk will continue to concentrate on its areas of expertise. That is, to expand both its managed and chartered fleets within the dry bulk segments. The company is also working on setting up a third-party technical ship management business.
“The secret to our success is that we focus on what we know best, which is dry bulk,” Mr Karahasan reflected. “One day, we will diversify our fleet into other segments , maybe tankers or containers, but at the moment, we want to keep that focus. Ultimately, we want longevity in the market and to be around for a long time – we want to pass this company on to the next generation.”
On the topic of longevity, one of the clear strengths of Susesea Bulk is that, though it may be a relatively young company, its personnel have a high level of expertise. Mr Karahasan himself brings to the table
over three decades of experience in shipping.
“I’ve always been on the commercial side, and I have enjoyed every moment of my last 30 to 35 years of shipping life,” he concluded. “What excites me most about my job is the opportunity to engage with global business networks. The dynamic nature of working with colleagues and partners from all over the world is both stimulating and motivating.” n
