$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

DryShips to Sell its Suezmax Tanker Fleet

DryShips Inc. (NASDAQ: DRYS), has announced  that it has entered into firm sales agreements with entities controlled by the Company's Chairman and Chief Executive Officer,

Shipbuilding: Mitsui Delivers Bulk Carrier

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 56,000 dwt type bulk carrier M.V. Desert Osprey (MES Hull No. 1862) at its Chiba Works

ST Marine Celebrates Naming of Vessels

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Naming Ceremony today for the second Patrol Vessel (PV),

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1362 sec (7 req/sec)