SR Shipping

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)

14-August-2016