$4B Fleet Expansion Planned

Wednesday, March 26, 2008

's state-owned shipping company aims to spend up to $4 billion over the next three to four years to expand its fleet size, a senior company official said, according to a report published on www.guardian.co.uk.
Oman Shipping Company (OSC) is looking to grow its shipping fleet mainly to meet the demand for energy transportation, the company’s CFO reportedly told Reuters in a recent telephone interview.
Part of OSC's multi-billion dollar expansion includes a recent order to build 10 VLCCs, according to the report.
In Februray, OSC placed two separate orders with 's Hyundai Heavy Industries Co, the world's largest shipbuilder, to build five supertankers, and with Daewoo Shipbuilding and Marine Engineering Co to build another five VLCCs.
The shipbuilding contracts placed with the South Korean shipyards were valued at about $770 million each, or around $1.54 billion in total.
OSC is in discussions with the National Iranian Tanker Company (NITC) on securing a long-term charter contract for at least five of the recently ordered supertankers, Mathur said. (Source: www.guardian.co.uk)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Vessels

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

Optimized Tug-Barge System Designs by Robert Allan

Optimized Tug-Barge System Designs by Robert Allan Ltd. by David R. Connand Robert G. Allan, P.Eng. Some veteran Mississippi pushboats and barges have been

DryShips Reaches Agreement with Ocean Rig

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1388 sec (7 req/sec)