$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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Vessels

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

Vane Brothers Welcomes Latest Tug Newbuild

The Vane Brothers Company, a marine transportation provider headquartered in Baltimore, has taken delivery of Kings Point, the latest in a wave of Maryland-built tugboats.

First Ocean Vessel of 2015 Arrives at Port of Indiana

Northwest Indiana celebrates opening of gateway to global markets   The arrival of the 655-foot bulk carrier M/V Irma at the Port of Indiana-Burns Harbor signals

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.1316 sec (8 req/sec)