Business

IMO – The Doomly Gloomy World of Shipping

Apurva Mali, the Trading Manager for Dubai-based commodities trading firm Ennero, offers his outlook for the international shipping industry in 2019.

Published

7 years ago

February 12, 2019

Admin

The following blog post was prepared by Apurva Mali in his personal capacity and shared with Manifold Times. The opinions expressed in this article are the author’s own and do not reflect the view of Dubai-based commodities trading firm Ennero where is he employed as Trading Manager.

In My Opinion, (hereafter labelled IMO), outlook for 2019 for the Global Maritime Industry is not-great. But when has it ever been Great?

Yes shipping is cyclical with sharp peaks and prolonged troughs, and in my 16-year career, nothing I’ve seen overall, IMO, has come close to the highs of the pre-2008 peaks.

How does one know if the maritime industry will do well or not this year? And who has the more accurate synopsis? The ‘outlooks’ vary and point to all the varying 360 degree opinions. In this case, lets imagine the actual ship to represent the shipping industry and the external weather conditions represent the external forces the ship (industry) has to contend with. The industry is often just like a large ship changing its course without control, when its own power or steering ability fails to work, and is at the mercy of the wind and the seas. World-trade-related macro figures, brokers’ reports, shipowners and financier’s’ views all reveal a different story in line with their own understanding and objectives.

A few shipowners I spoke to while writing this, from different segments (dry bulk tanker and offshore) revealed in the simplest of words, ‘Market is bad and competition eroding margins’, and one of them even commented, ‘I’d rather be sunbathing at the beach than commenting on freight rates’, only watching ships from a distance. Perhaps ships (and the industry?) do look much prettier and calm from a distance.

IMO, the maritime shipping industry is indeed a ship without its own power or propulsion. It continues swaying and swinging within its ‘6 degrees of freedom’ (FYI, the 6 degrees are: pitch, heave, roll, surge, sway and yaw), at the mercy of the external forces of world trade, protectionism, new-fuel-regulations, a slowing China and supply-demand imbalance. And this year, even more than in 2018, it is super-obsessed with the new sulphur-emission regulations expected to come into force in 2020.

It only remains to be seen if the external forces will keep pushing the industry against its own free will and decision making. Amongst many other weather forces in 2019, IMO, it will have to also contend with two, very significant events taking place, when the world’s two largest democracies (India and USA) will host their General Elections, with each incumbent leader trying to make it Great, once again.

Readers who are interested to reach out to Apurva Mali may contact him at the following address [email protected] or mobile number at +971 50 605 1905.

Published: 12 February, 2019

Business

Singapore: Notice of intended dividend issued for Parakou Shipping Pte Ltd

Creditors of the company will have to submit proof of debt to the liquidators of Parakou Shipping by 17 June, according to Government Gazette notice.

Published

2 days ago

June 5, 2026

Admin

A notice to declare the intended dividend of Parakou Shipping Pte Ltd to its creditors has been posted on the Government Gazette on Wednesday (3 June).

The following are the details of the notice of intended dividend:

Name of Company : Parakou Shipping Pte Ltd (In Creditors’ Voluntary Liquidation)
Address of Registered Office : c/o KordaMentha, 50 Raffles Place, 25-01 Singapore Land Tower, Singapore 048623
Last Day of Receiving Proofs (if not already lodged): 17 June 2026
Name of Liquidator : Cameron Duncan
Address : c/o KordaMentha Pte Ltd, 50 Raffles Place, #25-01 Singapore Land Tower, Singapore 048623

Photo credit: steve pb from Pixabay
Published: 5 June, 2026

LNG Bunkering

Chinese firms form pact for 20,000 cbm LNG bunkering vessel project

CM Energy Tech, Seacon Shipping Group and China Merchants Heavy Industry (Jiangsu) signed a joint venture agreement for 1+1 20,000 cubic meter LNG bunkering vessels.

Published

2 days ago

June 5, 2026

Admin

CM Energy Tech Co Ltd, Seacon Shipping Group Holdings Limited and China Merchants Heavy Industry (Jiangsu) Co Ltd on Tuesday (26 May) signed a joint venture agreement for the construction of 1+1 20,000 cubic meter liquefied natural gas (LNG) bunkering vessels.

The parties also signed a shipbuilding contract for the first vessel, which will be constructed by China Merchants Heavy Industry.

The project combines CM Energy Tech’s access to the China Merchants Group ecosystem, Seacon Shipping Group’s expertise in ship management and operations, and China Merchants Heavy Industry’s shipbuilding capabilities. The partners said the initiative is intended to address the shortage of large-capacity LNG bunkering vessels in the Chinese market.

The newbuild LNG bunkering vessel will feature dual C-type independent cargo tanks and is designed with a boil-off rate of just 0.16% per day. It will also be capable of delivering LNG at a bunkering rate of up to 2,000 cbm per hour, enabling efficient refuelling of large LNG-fuelled vessels.

The vessel will be powered by Wärtsilä dual-fuel engines and will comply with IMO Tier III emissions requirements. The first vessel is scheduled for delivery in 2028.

The three companies said they plan to further expand cooperation across the LNG value chain, strengthen their presence in the marine energy sector and provide customers with integrated LNG bunkering services focused on safety, operational efficiency and lower carbon emissions.

Photo credit: David Yu from Pixabay
Published: 5 June, 2026

Methanol

India’s Agastya inks green methanol offtake agreement with SAR Group

Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka.

Published

2 days ago

June 5, 2026

Admin

India’s clean energy conglomerate Agastya Group on Wednesday (3 June) said Agastya Green Fuels signed a long-term green methanol offtake agreement with Sri Lankan bunker supplier SAR Maritime Agencies, a SAR Group company, for the supply of 250,000 metric tonnes (mt) per annum of EU RFNBO RED III Compliant green methanol.

Agastya said the agreement establishes one of the largest green methanol supply partnerships in the Indian Ocean Region and marked a major step toward creating a new green maritime energy corridor connecting India and Sri Lanka.

The green methanol will be supplied from the Agastya Green Fuels Hub at Mulapeta Port, Andhra Pradesh, India, where Agastya is developing a green methanol export-oriented facility with a planned investment of USD 6 billion over the next six years. The facility is expected to produce 1 million mt per annum.

“Through this partnership, Agastya Green Fuels and SAR Group will work together to enable green methanol storage, bunkering, and marine fuel infrastructure across Sri Lanka, positioning Colombo, Hambantota, and Trincomalee as future clean-fuel hubs for global shipping,” the company said in a social media post.

“The Indian Ocean is emerging as the world’s next green fuel corridor. Agastya Green Fuels intends to be at its center,” said Shashi K Reddy Arjula, Founder and Group CEO of Agastya.

Photo credit: CHUTTERSNAP on Unsplash
Published: 5 June, 2026