Diversified shipping services group Signal has launched its new bunker procurement company, Shipergy. Operating from offices in London and Athens, the new company will be led by Daniel Rose, former CEO of brokerage LQM.
Shipergy will initially cover bunker requirements of the Signal Maritime aframax and MR pools but will also look to extend procurement services to selected third parties, Signal said.
The company said it is looking to become the most advanced bunker procurement player that is well-positioned to play a role in the shipping industry’s evolution towards decarbonisation and efficiency by leveraging the Signal Group’s technology stack and digital pedigree.
“Sourcing on-spec bunkers at the right place, at the best price, is critical to the success of Signal’s pools. Looking to the future, we see challenges and opportunities from the decarbonisation and digitisation of the shipping industry. The bunkering sector is still adapting to these challenges, but by building a bunker procurement business within the domain of one of the shipping industry’s most prestigious and forward-thinking groups, we intend to be a catalyst for change over the coming years,” said Shipergy’s chief executive, Rose.
The launch of the new entity, which has been operational since June 27, is not expected to impact operational personnel at Signal Maritime. Signal’s incumbent bunker procurement team will now handle procurement through Shipergy, and additional staff are expected to join in the near future.
Signal Ventures, the investment arm of the Signal Group, has also previously successfully incubated OilX, a UK oil analytics company, and invested in and collaborated with a bunker procurement optimization startup, Bunker Metric.