OSC Plans Fleet Expansion through 2018

State-owned Oman Shipping Company SAOC (OSC) is projecting to expand its current fleet of 43 ships to 50 by 2018, the Oman Daily Observer reported. According to the report, the expansion is in line with a ramp-up in hydrocarbon, petrochemical and industrial investment throughout Oman.

As the Omani economy grows, OSC looks to provide the tonnage required to meet the maritime shipping needs of expanding production capacity, a company representative told the Observer. The current fleet includes a mix of LNG carriers, chemical tankers, VLCC crude oil tankers, methanol carriers, LR-2 product tankers, multipurpose vessels, container vessels, very large gas carriers (VLGC), product tankers, Supramax bulk carriers, LPG carriers and VLOC dry bulkers.

Construction of the company’s 44th ship, an LNG carrier, is already underway and expected to wrap up in 2014.

And according to arabiansupplychain.com, OSC has also recently placed a $576 million order for a total of 11 vessels, mostly medium range chemical product tankers.