What SMT Shipping does

SMT Shipping is a Cyprus-headquartered, family-controlled maritime group founded in 1990 by Anthonius Voorham. It operates as a global tonnage provider in the dry bulk shipping sector, with a fleet of over 60 vessels—covering geared bulk carriers, cement carriers (via the Eureka Shipping joint venture with CSL Group), multi-purpose (MPP) carriers, and transshipment infrastructure including floating cranes, barges, and tugs. Its customers are primarily B2B cargo owners: mining companies, raw material end-users (notably steel and cement industries), commodity traders, importers, and exporters requiring reliable transportation of bulk cargoes such as iron ore, DRI, minerals, lumber, granite slabs, cement, and heavy-lift project cargoes.

Name

SMT Shipping

Legal name

SMT Shipping (Cyprus) Ltd

Website

https://smtshipping.com

Company type

Private

Founded year

1990

Operating status

Operating

Short description

SMT Shipping is a Cyprus-based, family-controlled maritime group operating over 60 dry bulk vessels (geared bulkers, cement carriers, MPP carriers) plus transshipment infrastructure. It serves mines, steel and cement producers, traders, importers, and exporters worldwide through owned fleets and JVs with CSL and Gearbulk.

Ownership category

akta.pro rank

Product category

Maritime Shipping Services

NAICS

Deep Sea Freight Transportation (483111), Marine Cargo Handling (488320)

SIC

Deep Sea Foreign Transportation Of Freight (4412)

akta.pro primary industry

Bulk Dry Cargo Carriers (Capesize/Panamax/Supramax/Handysize) (TLADABAC)

akta.pro secondary industries

Dry Bulk Ocean Shipping (Capesize/Panamax/Handysize) (TLADAKAA), Bulk Transloading & Intermodal Bulk Transfer Facilities (Rail/Truck/Conveyor/Barge) (TLAHABAN), Bulk Cargo Handling Services (Conveying, Grab/Loader Ops, Bagging) (TLAHALAI), Project & OOG/Breakbulk Ocean Forwarding (Out-of-Gauge, RoRo) (TLACABAH)

Keywords

• Dry bulk shipping
• Maritime transshipment
• Cement carrier services
• Bulk cargo transportation
• Multi-purpose vessel operations

Headquarters

HQ city

Agios Athanasios

HQ country

Cyprus

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Dry Bulk Cargo Transportation Services: SMT generates revenue through providing shipping and transshipment services for dry bulk cargo including minerals, steel, lumber, granite slabs, cement, and heavy lift cargoes. Services include transportation via owned and joint venture vessels, transshipment solutions using floating cranes, barges and tugs, with revenue derived from long-term contracts and spot voyages with mining companies, traders, and raw material end-users.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

SMT Shipping is a global maritime group providing dry bulk cargo transportation and transshipment services through a fleet of over 60 vessels worldwide. The company operates four main service categories: geared Bulk Carriers & General Cargo Carriers for transporting dry bulk commodities; integrated Transshipment solutions using owned floating cranes, barges, and tugs for cargo handling in constrained port locations; specialized Cement Carriers via the Eureka Shipping joint venture; and Multi-Purpose (MPP) Carriers for diverse cargoes including minerals, steel, lumber, granite slabs, and heavy-lift project cargoes. Customers include mining companies, raw material end-users, traders, importers, and exporters.

Product overview

SMT Shipping operates as a global maritime group providing dry bulk cargo transportation and transshipment services. The core offerings include four main vessel categories: Bulk Carriers & General Cargo Carriers for dry bulk commodities; Transshipment Services using proprietary floating cranes, barges, and tugs; Cement Carriers operated through the Eureka Shipping joint venture; and Multi-Purpose (MPP) Carriers for flexible cargo handling. Supporting these maritime operations, SMT also deploys Spinergie's Smart Fleet Management system across approximately 30 vessels for consolidated operational reporting. The fleet of over 60 vessels operates through various joint ventures including GBSMT (with Gearbulk) and Eureka Shipping (with CSL), serving cargo clients including mines, raw material end-users, traders, importers, and exporters worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• Eureka Shipping: Joint venture with CSL Group operating cement carriers. Eureka owns and commercially operates a fleet of self-unloading cement carriers ranging from 3000 DWT to 23,000 DWT in the Baltic Sea, Atlantic Ocean, Mediterranean Sea, Caribbean and Great Lakes.

Products and services

• Bulk Carriers & General Cargo Carriers Fleet of purpose-built geared vessels transporting dry bulk commodities across the world, featuring self-loading and self-discharging capabilities with state-of-the-art cranes and grabs for cargo owners including mines, raw material end-users, traders, importers, and exporters.
• Transshipment Services Integrated transshipment solutions for moving cargoes when port facilities are insufficient or when there are draft restrictions, using proprietary floating cranes, barges, tugs, and transloaders across more than 16 million tonnes per annum capacity in operations including iron ore in Sierra Leone and Trinidad.
• Cement Carriers Pneumatic cement carriers specialized in loading, carrying, and handling cement and other powdered bulk cargoes, operated through Eureka Shipping joint venture with CSL Group with self-unloading capability for cement and building industry customers.
• Multi-Purpose (MPP) Carriers Versatile vessels for carrying a wide range of commodities as general cargo in units, bulk, or containerized formats, suitable for minerals, steel, lumber, granite slabs, and heavy-lift project cargoes.

Quantifiable outcome

• Transshipment capacity over 16 million tonnes per annum in current operations
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core, strategic, important and minor.

• Eureka Shipping LtdcoreStrategic or Co-development PartnerEureka Shipping is a joint venture between SMT Shipping and The CSL Group, providing sustainable, high-efficiency cement carrier services. Eureka operates a fleet of self-unloading cement carriers ranging from 3,000 DWT to 23,000 DWT in the Baltic Sea, Atlantic Ocean, Mediterranean Sea, Caribbean and Great Lakes. The JV enables SMT to offer specialized pneumatic and mechanical cement carrier services to the construction and cement industry.
• GBSMTcoreStrategic or Co-development PartnerGBSMT is a joint venture with Gearbulk, established through cooperation between Anthonius Voorham and Kristian Gerhard Jebsen. This partnership is core to SMT's business and operates geared bulk carriers in niche trades.
• Mariac BVcoreStrategic or Co-development PartnerJoint venture company in SMT's portfolio of shipping operations, part of the group of approximately 72 vessels grown over 30 years.
• Mitsui O.S.K. Lines (MOL)strategicStrategic or Co-development PartnerSMT and MOL signed a MoU in March 2025 for joint study of ocean transportation of Direct Reduced Iron (DRI). SMT is a world leader in the carriage of DRI while MOL provides global steel industry marine transportation services. The partnership aims to address increasing demand for DRI transportation with necessary safety measures, contributing to the steel industry's efforts to reduce CO2 emissions.
• SpinergieimportantTechnology or IntegrationSMT implemented Spinergie's Smart Fleet Management system on approximately 30 vessels to streamline operational and emissions reporting. The system allows crew members to enter data once, automatically distributing to internal teams, weather routing providers, charterers, and verifiers, reducing duplication and improving data consistency while ensuring regulatory compliance.
• Air France KLMminorGTM or Marketing PartnerSMT became a partner in Air France KLM's Corporate Sustainable Aviation Fuel (SAF) Program for 2024. SAF is produced from renewable resources and can reduce CO2 emissions by up to 80% over its lifecycle. The partnership demonstrates SMT's commitment to sustainability and reducing environmental impact.
• eConowindimportantTechnology or IntegrationSMT Shipping is an early adopter of VentoFoil, a groundbreaking wind-assisted propulsion system developed by eConowind. Successfully installed on the SUNNANVIK cement carrier owned by Eureka Shipping, achieving approximately 10% fuel reduction and extending vessel lifespan.
• Holland Shipyard GroupimportantStrategic or Co-development PartnerHolland Shipyard Group constructs cement carriers for Eureka Shipping JV, including the Tamarack vessel (12,500 DWT) designed for Great Lakes operations with diesel-electric propulsion and HVO biofuel capability.
• Royal Bodewes ShipyardimportantStrategic or Co-development PartnerRoyal Bodewes shipyard in Netherlands designs and builds cement carriers for Eureka Shipping JV. Multiple vessels including MV Molvik launched in 2025 and the 10th cement vessel launched in July 2025.
• CSL Group (Canada Steamship Lines)coreStrategic or Co-development PartnerCSL Group is SMT's joint venture partner in both Mariac and Eureka Shipping. CSL is the world's largest owner and operator of self-unloading ships, headquartered in Montreal with operations throughout the Americas, Australia, Europe and Africa. Delivers millions of tonnes of cargo annually for customers in construction, steel, energy and agri-food sectors.
• Maritime Anti-Corruption Network (MACN)importantOthersSMT became a member of MACN in August 2023. MACN is a global business network of over 190 companies working towards a maritime industry free of corruption that enables fair trade. Membership demonstrates SMT's commitment to ethical practices and elimination of corrupt practices.
• ARGOSimportantStrategic or Co-development PartnerJoint venture TAS between SMT and ARGOS operates cement vessels in the Caribbean market, providing specialized cement transportation services in that region.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Gearbulk: SMT's JV partner in GBSMT and the closest direct peer: a privately-held operator of geared bulk carriers serving niche trades (project cargoes, forestry products, minerals). Highly comparable in fleet type, customer base and partnership-driven business model.
• CSL Group: SMT's JV partner in Eureka Shipping and Mariac; CSL is the world's largest owner and operator of self-unloading ships, with cement, construction and agri-food cargoes. Directly comparable in cement-carrier design, self-unloading technology and Great Lakes/Atlantic presence.
• Pangaea Logistics Solutions: US-listed owner-operator of geared and ice-class bulk carriers serving niche high-margin trades with self-discharging capability. Closest listed analogue to SMT's geared bulk + transshipment model, with similar focus on differentiated service over scale.
• Eagle Bulk Shipping: US-listed operator of supramax and ultramax dry bulk carriers serving similar mid-sized dry bulk charterers. Closest publicly listed comparator to SMT's geared bulk carrier operations in the Atlantic basin (now part of Star Bulk but comparable on standalone basis).
• Wisdom Marine Lines: Taiwanese geared bulk carrier operator with supramax and ultramax vessels serving global dry bulk trades. Highly comparable niche geared bulk model to SMT, with similar focus on flexibility, gear cranes and project/heavy-lift cargoes.

Broad incumbents

• Star Bulk Carriers: One of the largest global dry bulk shippers with 100+ newcastlemax, capesize, kamsarmax and ultramax vessels following its merger with Eagle Bulk. Competes with SMT across dry bulk commodities but at materially larger scale and without SMT's geared/transshipment niche focus.
• Diana Shipping: Global dry bulk shipping company operating capesize, kamsarmax, panamax, ultramax and supramax vessels on time and voyage charters. Competes with SMT across dry bulk commodities but is a much larger, broadly diversified operator without SMT's transshipment niche.
• Genco Shipping & Trading: US-listed dry bulk shipper with a fleet of capesize, ultramax and supramax vessels. Overlaps with SMT on the supramax/ultramax geared bulk segment but operates at larger scale and without an integrated transshipment or cement-carrier franchise.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

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Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SMT Shipping