The Signal Group launches a tech enabled bunker procurement company
The Signal Group has launched Shipergy, an innovative bunker procurement company. The new company is led by former LQM CEO, Daniel Rose and operates from offices in London and Athens.
Shipergy will initiate operations with the bunker requirements of the Signal Maritime pools. Taking advantage of economies of scale and operational efficiencies, the new entity will also look to extend procurement services to selected third parties.
Using its team’s deep expertise, Shipergy will place immediate emphasis on the quality of the procured bunkers and the sourcing process. Leveraging the Signal Group’s cutting-edge technology stack and digital pedigree, Shipergy’s vision is to progressively become the most advanced bunker procurement company that is well positioned to play a role in the shipping industry’s evolution towards decarbonisation and efficiency. Shipergy will now begin building its own services that will deliver greater value to the Signal pools and external companies in the future.
Daniel Rose, CEO of Shipergy said:
“I am delighted to be leading a new company within the Signal Ecosystem. 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.”
Despite the creation of a new entity, there will be no change in operational personnel at Signal Maritime. Signal’s incumbent bunker procurement team will now handle procurement through Shipergy, and additional staff will be added in the near future to increase operational bandwidth. The Group’s main fuel suppliers were informed of the changes in February this year, and all credit lines have been switched to the new entity, which has been operational since 27 June.
Panos Dimitracopoulos, CEO of Signal Maritime added:
“This is another important milestone in our development and will significantly add value to the service we provide to our pool members. Being able to call upon a highly efficient, transparent and quality controlled bunker procurement operation is critical to our business and positions us to face the challenges of fuel transition in the shipping sector.”
The Signal Maritime Aframax and MR pools offer superior TCE performance and fair earnings distribution, along with maximum flexibility to enter and exit. The pools are managed by experienced shipping professionals who are achieving an outstanding track record by leveraging the Group’s technology.
Source: Signal Group