SR Shipping

The Somali pirates released the hijacked supramax bulk carrier MV Abdullah, along with its crew of 23, early on Sunday following the payment of a $5 million ransom, as reported by two pirates involved. The Bangladeshi supramax bulk carrier MV Abdullah, operated by SR Shipping, was seized in March 2024 while en route from Mozambique to the UAE. This incident marked a significant event after a six-year period of inactivity, signaling a worrying resurgence of Somali pirate activity in recent months. The return of these maritime threats underscores the critical need to secure trade routes and ensure the safety of seafarers who are essential to maintaining the global flow of commerce. It is more crucial than ever to implement all necessary measures to guarantee the safe and free movement of goods across international supply chains. 15-April-2024


The Bulgarian maritime company Navibulgar (Navigation Maritime Bulgare), which oversees the operations of the 2016-built MV Ruen bulk carrier with a 41K DWT along with its 17 crew members, recently saw the vessel liberated by Indian naval forces after it was hijacked by Somali pirates three months ago. The operation, conducted over the weekend by special commandos aboard the INS Kolkata, resulted in the capture of 35 Somali pirates and the safe rescue of the crew aboard the Maltese-flagged MV Ruen, all unharmed. This incident in December 2023 off the Somali coast represented the first successful hijacking by Somali pirates since 2017. Additionally, in March, the MV Abdullah, a Bangladeshi bulk carrier with 23 crew members, fell victim to Somali pirates in the Indian Ocean. According to the EU naval force, the MV Ruen, managed by the Bulgarian firm Navibulgar (Navigation Maritime Bulgare) and rescued 93 days post-hijack, might have served as a staging area for the capture of a vessel belonging to SR Shipping, a Kabir Group subsidiary. The naval operation to recover the MV Ruen commenced on Friday, lasting roughly 40 hours, during which the navy engaged the pirates after they fired upon the Indian warship in international waters. Earlier in the year, the Indian Navy also succeeded in rescuing two Iranian-flagged fishing vessels off the coast of Somalia and thwarting a hijack attempt of the Liberian-flagged capesize bulk carrier MV Lila Norfolk in the North Arabian Sea. Since November 2023, the region has witnessed over 20 hijacking incidents or attempts in the Gulf of Aden and the Somali Basin. As of the last update on Friday, the pirates who seized the MV Abdullah, managed by the Bangladeshi maritime firm SR Shipping, had not issued any ransom demands, with the ship now moored roughly four nautical miles off Godob Jiraan, Somalia. 23-March-2024


Pirates from Somalia, who seized control of the supramax bulk carrier MV Abdullah, flying the Bangladeshi flag and managed by SR Shipping, last week, have initiated contact with the vessel’s managing company, SR Shipping. This marks the first communication since the hijacking near the Horn of Africa. Security experts in maritime operations have raised alarms about the potential for additional piracy incidents in the region. As of now, the pirates have not demanded a ransom for the release of the 23 crew members kidnapped on March 12, 2024. A representative from SR Shipping provided details at a press briefing yesterday, noting that preliminary discussions regarding the vessel and its crew were conducted. The pirates have assured that the crew is in good health and will not face harm. Despite reports of international naval forces expressing readiness to launch a rescue operation for the MV Abdullah and its crew, mirroring a previously successful intervention, the hijackers have strengthened their hold on the ship and nearby coastal areas. They have equipped the Abdullah and certain coastal sites with anti-aircraft guns. Recent statistics from the Baltic and International Maritime Council (BIMCO) reveal that pirates from Yemen’s Houthis and Somalia are now threatening 13% of global maritime commerce. 21-March-2024


A bulk carrier flying the Liberian flag has alerted authorities to a potential pirate threat off the coast of Oman. The incident, which aroused suspicion, occurred on Wednesday morning 164 miles south of Salalah, positioning the vessel within reach of pirates from Somalia and Yemen. According to Ambrey Analytics, a small boat carrying seven individuals approached the unnamed ship, coming as close as 0.3 miles. Although ladders were observed, there were no visible weapons. To evade the potential threat, the bulk carrier executed defensive maneuvers and accelerated. The security firm noted that the small boat pursued the bulk carrier for approximately 20 minutes. Subsequently, the armed guards on board the larger vessel discharged a warning shot, causing the approaching craft to retreat. At the time, the bulk carrier, which was traveling from Ust-Luga, Russia, to Dhamra, India, had an estimated freeboard of 9.9 meters. Ambrey advised all merchant ships to stay alert due to the resurgence of Somali piracy in recent headlines. In a related incident, SR Shipping, a subsidiary of the Bangladesh-based KSRM Group, has yet to establish communication with Somali pirates who seized its supramax bulk carrier, the 58K DWT MV Abdullah, last Tuesday in the Indian Ocean. The MV Abdullah, carrying 23 Bangladeshi crew members, is being directed toward the Somali coast, with the pirates yet to make any demands. Additionally, over the weekend, the Indian Navy achieved a significant victory over pirates by intercepting a hijacked Bulgarian vessel, the MV Ruen, managed by Navibulgar (Navigation Maritime Bulgare), and securing the release of all 17 crew members who had been hostages for months. The naval vessel INS Kolkata forced the surrender of all 35 pirates on board the MV Ruen. 19-March-2024


Inspired by their recent success in seizing a vessel, Somali pirates have embarked on another expedition to capture more ships traversing nearby waters. Maritime consultancy firm Ambrey has reported observing four potential pirate vessels setting sail from the areas of Hobyo, Nugal, and Mudug in Somalia, carrying 36 armed individuals. The Bangladeshi bulk carrier MV Abdullah, operated by SR Shipping and recently taken by Somali pirates in the Indian Ocean on Tuesday, is now moored off the coast of Somalia. Officials in Dhaka have indicated they are awaiting communication regarding ransom demands for the vessel’s 23 crew members. The current position of the MV Abdullah, as indicated by its AIS tracking data, is in proximity to the last known location of the MV Ruen, a Maltese-flagged carrier that was commandeered in December 2023. The MV Abdullah is part of the fleet owned by SR Shipping, a branch of the Kabir Group located in Chittagong, and was en route from Mozambique to Dubai with a coal shipment when pirates boarded the ship with little resistance about 600 nautical miles east of Mogadishu, Somalia’s capital. During the incident, the MV Abdullah was compelled to transfer fuel to the pirates’ dhow, which was low on fuel, through a ship-to-ship transfer. A European Union naval vessel, part of Operation Atalanta, has been monitoring the MV Abdullah, according to statements from the EU force. Ambrey has accessed video evidence showing the initial boarding of the MV Abdullah by the pirates. At the time of the boarding, the MV Abdullah did not appear to be taking evasive actions, and the sea conditions were calm. No defensive measures were apparent on the vessel, such as razor wire, water hoses, or armed personnel on board. This incident marks another occasion where a ship from the Kabir Group’s SR Shipping line has been targeted by pirates; in 2010, the MV Jahanmoni, another ship from the same company, was hijacked and later released after a three-month captivity period. 14-March-2024


Suspected Somali pirates have reportedly boarded a bulk carrier in the Indian Ocean, approximately 600 nautical miles east of Mogadishu. The incident involved the boarding and commandeering of the SR Shipping-managed supramax bulk carrier MV Abdullah, as reported by the United Kingdom Maritime Trade Operations (UKMTO). The report, coming directly from the company’s security officer, led UKMTO to state that investigations were underway, though no specific details or the ship’s name were disclosed initially. In a related update, maritime security firm Ambrey reported that the MV Abdullah, a Bangladesh-flagged 2015 built supramax bulk carrier 58K DWT MV Abdullah was boarded by 20 armed individuals. The ship was navigating from Maputo, Mozambique, to Hamriya, UAE, at the time, and the pirates launched their operation using a small and a large vessel. Ambrey identified the target as the MV Abdullah, operated by SR Shipping and affiliated with the Kabir Steel Re-Rolling Mills (KSRM) Group of Bangladesh, after noting an earlier change in course to the southeast and a sudden increase, followed by a decrease, in speed to 1 knot. Although it was advised for other vessels to maintain a safe distance from the location, there were conflicting accounts regarding the crew’s situation, with some reports claiming the crew had sought refuge in the ship’s citadel, a claim deemed improbable by Ambrey. 12-March-2024


Pirates have reportedly taken 23 crew members hostage during the hijacking of the SR Shipping-operated 2015 built supramax bulk carrier 58K DWT MV Abdullah off the coast of Somalia. SR Shipping plays a crucial role within the Kabir Steel Group, which also has oversight over Brave Royal Shipping, a rapidly expanding entity in Bangladesh. The said vessel, MV Abdullah, owned by Brave Royal Ship Management (BD) Ltd and managed by SR Shipping, was recorded moving at a speed of 1 knot in a northerly direction when the piracy occurred. This incident, occurring 600 nautical miles northeast of Mogadishu, Somalia, is being viewed by some as potentially transformative for regional maritime security, raising concerns. Initial reports indicate that the crew of the MV Abdullah, numbering 23 individuals, has been taken captive by pirates in what marks a significant incident. The ship in question, the 58K DWT MV Abdullah, built in 2015 and under the control of the KSRM Group, has been recognized by several news organizations and shipping industry sources following this event. 12-March-2024


The Bangladesh-based bulk carrier company SR Shipping, a division of Kabir Steel, is upgrading its fleet by acquiring newer and larger vessels. Specifically, they are phasing out older handymax ships, such as the MV Khadeejah Jahan, built in 1997, in favor of more modern bulk carriers. A notable addition to their fleet is a 2015-built ultramax bulk carrier, the 66K DWT MV Bulk Electra, which they purchased from Genyo Kaiun. This ship, recently off a long-term charter with Gearbulk, was taken over by SR Shipping in early October and renamed Fatema Jahan I. Karim Uddin, the deputy managing director of Kabir Steel Rolling Mills, which is SR Shipping’s parent company, confirmed the acquisition. However, the financial details of the purchase have not been revealed. The transaction was finalized just as the ship completed its charter. 18-October-2023


The Italian maritime company d’Amico Dry has recently sold its 2008-built Supramax bulk carrier, the MV Medi Valencia, as part of its fleet renewal strategy. While d’Amico Dry confirmed the sale of this 56K DWT vessel, they did not disclose the buyer’s name or the transaction price due to a confidentiality agreement. However, according to shipbrokers, the purchaser is SR Shipping, a Bangladesh-based bulk carrier firm and a subsidiary of Kabir Steel. This acquisition aligns with SR Shipping’s existing fleet, which already includes five supramax and six handymax bulkers. The sale price of the MV Medi Valencia is rumored to be approximately $12.3 million. This deal follows a previous unsuccessful sale attempt for the same vessel. 5-September-2019


SR Shipping, a prominent bulk carrier company based in Bangladesh and a division of Kabir Steel, expanded its fleet with the purchase of its first bulk carrier in several years. The company spent $10 million to acquire the MV Iris Halo, a 13-year-old, 56K DWT supramax bulk carrier, previously owned by Japan’s Mizuho Sangyo. This addition brings SR Shipping’s fleet to a total of 11 vessels, which includes five supramax and six handymax bulk carriers. SR Shipping is a key part of the Kabir Steel Group, which also oversees Brave Royal Shipping, a rapidly growing company in Bangladesh, the world’s most densely populated country. 12-August-2019


SR Shipping, a dynamic bulk carrier company from Bangladesh and part of Kabir Steel, is once again in the headlines for its latest acquisition. The company is reportedly purchasing another supramax bulk carrier, this time the Oshima-built MV Falcon Trader 2. For this 54K DWT vessel, SR Shipping is investing $12 million, a figure that aligns with the current market rates. The MV Falcon Trader 2, which was initially up for sale in January at $8.5 million, reflects the increasing prices of Japanese bulker tonnage over 2016. Despite being active in the market, SR Shipping seems to negotiate effectively, often finalizing fewer deals than what shipbrokers initially report. A noteworthy aspect of this latest transaction is SR Shipping’s close relationship with the seller, Nisshin Shipping. This connection has been beneficial in the past; earlier in the year, SR Shipping acquired the slightly older MV Aston Trader II from Nisshin Shipping, later renaming it Jahan Moni. Additionally, in August, they bought a six-year-old supramax bulk carrier from Kambara Kisen, a Japanese firm, for $11.7 million, which has been renamed MV Jahan Brothers. These strategic purchases highlight SR Shipping’s focused approach to expanding and upgrading its fleet. 24-October-2016


SR Shipping, a Bangladesh-based bulk carrier company under the Kabir Steel division, is reportedly the new owner of the supramax bulk carrier MV Ocean Paradise. This vessel, previously owned by United Ocean Group, was sold at an auction in Tokyo for $9.2 million. The sale of MV Ocean Paradise garnered significant global attention, evidenced by about 15 inspections by various shipowners in Hong Kong before its auction. Constructed nine years ago at the Tsuneishi Cebu shipyard in the Philippines, MV Ocean Paradise is the fifth vessel sold by United Ocean Group since the company declared bankruptcy at the end of the previous year. SR Shipping, which is a part of the Kabir Group in Bangladesh, has been actively acquiring secondhand supramax bulk carriers throughout the year, particularly those built in Japan, as part of its strategic fleet expansion. 6-October-2016


Dhaka-based Kabir Steel Group subsidiary SR Shipping is buying a Tokyo based Kambara Kisen controlled supramax bulk carrier 58K DWT MV Ten Ya Maru for about $12 million. SR Shipping recently inspecting supramax bulk carriers in Japan and Singapore. Kabir Steel Group subsidiary SR Shipping so far bought four (4) dry bulk carriers. 22-August-2016


SR Shipping, a subsidiary of the Dhaka-based Kabir Steel Group and one of the year’s most active bulker buyers, has recently completed a significant acquisition from one of Japan’s most consistent sellers. The Bangladesh-based shipowner and operator purchased the 2010-built supramax bulk carrier MV Ten Yu Maru from Kambara Kisen, a prominent Japanese shipping company, for $11.7 million. This price is considered quite robust by shipbrokers, being about $1 million higher than what a similar sister ship was sold for recently. SR Shipping is notably enthusiastic about supramax vessels constructed by Tsuneishi, the shipbuilding arm of Kambara Kisen. Their preference for Tsuneishi-built ships is evident in their purchasing patterns. This acquisition aligns with SR Shipping’s rapid expansion strategy in the dry bulk sector this year. Conversely, Kambara Kisen, like many other Japanese owners, has been actively selling off its fleet, particularly in the context of the current downturn in the industry. 15-August-2016


Dhaka based SR Shipping is trying to expand its dry bulk fleet with for coal trades. SR Shipping is planning to buy 2 supramax dry bulk carriers in the next two months. Kabir Steel Group subsidiary SR Shipping so far bought 4 dry bulk carriers:

  1. 58K DWT M/V Tenko Maru (built 2008)
  2. 58K DWT M/V Ikan Siakap (built 2008)
  3. 48K DWT M/V Aurora Sapphire (built 2000)
  4. 53K DWT M/V Alam Murni (built 2003)