Multimax Looks to Beef up Fleet

By Asma Ali Zain

Multimax Shipping is looking to beef up its fleet of multipurpose and bulk carriers, with an executive for the Singapore-based company telling Breakbulk it wanted to acquire “at least five more” vessels.

Multimax currently operates 18 owned and chartered vessels, focussing primarily on the transport of bulk cargo such as coal, granites, aggregates, salt, steel, general cargo, specialised and project cargo.

“We are in discussions with various ship owners to get at least five more ships in our fleet,” said Shailendra Singh Chauhan, Multimax’s chartering manager for breakbulk, dry bulk, projects and heavy-lift.

Multimax set up an office in Dubai in 2018, since when the company has become a “well-recognized carrier in the region”, Singh said. It has delivered cargoes for major projects in the region’s oil and gas, power and construction sectors.

According to the executive, the company is planning to use its Dubai office as a launchpad into other markets in the region, such as Saudi Arabia.

“There are several projects coming up in Saudi Arabia, and we are targeting these projects,” Singh said. “One reason why we are increasing our fleet size is that for the past three years, we have seen a lot of demand from Saudi and we want to give them a regular service.”

The company also wants to expand its services and trade routes into Europe and Africa by the end of this year. It currently offers services to the Far East, Australia and Africa.

“As a company that is looking to increase its freight size in the project segment, we are further expanding to the markets in Europe and Africa by the last quarter of 2023,” said Singh. “So far, the service has been only up to East of the Suez Canal.”

Check out an interview with Shailendra Singh at Breakbulk Middle East 2023: