Asyad Looking to Sell Stake in Oman Shipping Company
Oman's state-owned transport group Asyad is weighing the sale of a strategic stake in its subsidiary Oman Shipping Company (OSC), three sources familiar with the matter said.Asyad has asked banks to pitch for a mandate to help it review a potential deal in which Asyad could divest up to 40% of its ownership, said two sources, who declined to be named as the matter was not public.Asyad, owned by the Oman Investment Authority, the country's sovereign fund, did not immediately respond to a request for comment on Monday. Oman Shipping Company also did not respond to a request for comment.OSC focuses on transportation of liquefied natural gas (LNG) cargoes to the international market…
Dr. Ibrahim Named CEO of OSC, ODC
As ASYAD Group continues the integration of Oman Shipping Company (OSC) and Oman Drydock Company (ODC), it has appointed Dr. Ibrahim Al-Nadhairi as Chief Executive Officer (CEO) for the Shipping and Drydock business units.Prior to his role, Dr. Ibrahim was Chief Operating Officer of Oman Shipping Company and in charge of the ship management segment looking after the technical management of the fleet and overseeing the running of the company’s asset. In his new role he will lead a multinational organization with 1900 people.
OSC Acquires 2 Ultramax Ships
Oman Shipping Company (OSC), a member of the ASYAD Group, has announced the acquisition of two modern Ultramax Dry Bulk vessels, SBI Taurus and TR Omaha.The new ships due for delivery in April and May 2020 will join OSC’s fleet of over 50 world-class vessels including LNG Carriers, LPG Carriers, VLCCs, Tankers, VLOCs, Dry Cargo, and Container ships. These ships will be renamed to (JABAL SAMHAN & JABAL AL KAWR) once joined to reflect the greatness of Omani Mountains and its rich minerals.The announcement is in line with OSC’s business plan and will add to the Company’s Dry Cargo capacity meeting increasing customer demand and complementing the existing vessel portfolio to further contribute to the development of the local mining industry.
Oman Shipping Adds Jabal Shams
Oman Shipping Company (OSC) has held a naming ceremony for the latest addition to the company’s Dry Bulk fleet, the Jabal Shams. The ceremony marks the official handover of the vessel from Zhoushan Changhong Shipyard to OSC.The shipping arm of the ASYAD Group said that the new ship will join OSC’s fleet of over 50 world-class vessels including LNG Carriers, LPG Carriers, VLCCs, Tankers, VLOCs, Dry Cargo, and Container ships.Today’s ceremony follows the naming of the Jabal Shams’ sister ship, the Jabal Almisht in Zhoushan in August. The two new ships, which are part of a series of four Ultramax Dry Cargo vessels due to be delivered to OSC in 2019…
Oman Shipping Orders 3 VLCCs at DSME
Oman Shipping Company (OSC), a member of the ASYAD Group, has signed an agreement for the construction of three very large crude carriers (VLCCs) with South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).The triple 300,000 dwt vessels are expected for delivery during the first quarter of 2020. OSC will charter out the vessels to oil majors under long-term contracts.OSC said the three 300,000 dwt VLCCs were part of OSC’s fleet renewal plan and long term contracts with oil majors were already in place for the vessels.Each of the vessels will be 336-meters-long and 60-meters-wide and will be able to hold 300,000 tons of cargo.
Shipbuilding: OSC Orders VLCC Pair
Oman Shipping Company (OSC) is expanding courtesy of an order for a pair of newbuild Very Large Crude Carriers (VLCC ) with Daewoo Shipbuilding & Marine Engineering (DSME).According to Michael Jorgensen, OSC's CFO and acting CEO, said the VLCCs are expected to be deployed in the spot market, as the company plots further fleet expansion in the bulk and container market.Today OSC’s fleet includes 49 vessels including 16 VLCCs, 17 product tankers and 4 chemical carriers.The two latest additions will be constructed at DSME’s Okpo shipyard measuring 336m in length…
DSME Bags Order for Two VLCCs
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has won orders to build two very large crude carriers (VLCCs).Oman Shipping Company (OSC), the wholly government-owned national shipping line of the Sultanate of Oman, has signed a deal with DSME for the construction of two next-generation, eco-friendly VLCCs, tweeted OSC.The pair of ECO VLCCs will be built at the Okpo shipyard of DSME, which counts among the world’s largest shipbuilders.“The vessels are of 336-metres length, 60-metres wide, and can each carry 300,000 tonnes of crude; these are next generation eco-friendly vessels that meet the environmental regulation standards of IMO (The International Maritime Organisation).
Oman Shipping: Strong Domestic Performance
Oman Shipping Company (OSC) is reporting strong performance in domestic markets following long-term deals with local refineries and traders including ORPIC and OTI.OSC’s growth in the region is being driven by a 20-year contract to transport condensate for ORPIC (Oman Oil Refineries and Petroleum Industries Company) and a 15-year deal transporting methanol for OTI (Oman Trading International) from Salalah Methanol plant.The company is further supporting the export of LPG from Sohar Refinery to Yemen, Sudan, India, Bangladesh and Sri Lanka.
OSMC Holds India Seafarers Conference
Oman Ship Management Company (OSMC) has staged a conference in India enabling seafarers to share best practices and expand industry knowledge.It comes as OSMC figures reveal growth in its managed fleet expanding from 27 to 38 in last two years, largely due to expansion in its chartering business. More than 100 delegates joined the Officer’s Conference at the JW Marriot in Juhu, Mumbai. The two-day event involved seafarers from OSMC fleet vessels, office staff, crewing agencies and industry experts such as from Shell, P&I Clubs and Lloyds Register.
OSC Launches VLCC Chartering Business
Oman Shipping Company (OSC) has officially set up a new commercial chartering desk offering its Very Large Crude Carrier (VLCCs) to major traders and charterers covering VLCC routes worldwide. OSC, one of the biggest ship owners in the MENA region, has a diversified and young fleet of 50 vessels. OSC owns 16 VLCCs within the fleet out of which OSC is now commercially managing 15 VLCCs through its subsidiary Oman Charter Company (OCC). The move follows an announcement in December 2016 which saw OSC withdrawing 15 VLCCs from the VL8 pool based in Singapore.
Oman Shipping to Acquire 10 Tankers
Omani government-owned Oman Shipping Company (OSC) has secured USD 227 million in debt to finance the acquisition of ten tankers, Reuters said citing France-based Societe Generale. The new medium range tankers are chartered to Shell Tankers Singapore for seven years. Societe Generale acted as sole arranger and sole underwriter for the landmark transaction, which involved a combination of export credit agency (ECA) and commercial financing. Seven of the 10 vessels were covered by Korea’s export credit agency, K-Sure. Comprising a combination of commercial debt and export credit agency financing, the agreement covers the purchase of 50,000 dwt medium-range tankers constructed by South Korean shipbuilder Hyundai Heavy Industries.
SocGen Arranges Financing for Oman Shipping's Tanker Play
Oman Shipping Company, wholly owned by the government of Oman, raised $227 million in debt to back the purchase of 10 tankers, Societe Generale said on Thursday. Societe Generale was the sole arranger and sole underwriter of the transaction, which comprised a combination of commercial debt and export credit agency financing. The commercial portion of the debt package also involved Credit Agricole Corporate & Investment Bank, the Korea Development Bank and ABN Amro. Reporting by Davide Barbuscia
Oman Shipping Signs 3-year VLCC Deal with Shell
Oman Charter Company (OCC), a subsidiary of Oman Shipping Company (OSC), has entered into a contract of affreightment (COA) for its very large crude carriers (VLCCs) with Shell International Eastern Trading Company (Shell) for three years, reports Muscat Daily. "This CoA demonstrates the ability of Oman Shipping Company and its subsidiaries to deliver top shipping solutions that meet the requirements of our esteemed clients," said Tariq al Junaidi, chief executive officer of OSC in a statement. In addition to the 10 MR tankers that we have recently chartered to Shell, this COA demonstrates the ability of Oman Shipping Company and its subsidiaries to deliver top shipping solutions that meet the requirements of our esteemed clients.
Oman Shipping Withdraws from Navig8 Pool
Navig8 Group (Navig8), the world's largest provider of maritime services, has announced that it has been advised by Oman Shipping Company SAOC (OSC) that they have decided to internalize the commercial management of their VLCC fleet which had been hitherto in the VL8 pool. The VL8 pool is one of the largest VLCC tanker pools in the world and one of 16 shipping pools managed by Navig8. The company's 16 shipping pools bring together multiple, like-minded owners with vessels of similar type and characteristics, into distinct pools. Each pool is managed by the Navig8 as a single, cohesive fleet, allowing owners to leverage Navig8's leading network of charterer relationships and strong cargo base.
Oman Shipping Makes Profit
Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by Oman News Agency saying that achieving significant profit came as a result of the good performance of the operations of the company’s business in general. "The profit is a result of an improvement in the rental market of giant oil tankers (as a result of the decline in world oil prices ) resulting from the increase in oil supply in global markets," Al Junaidi said. This profit will be used to develop and expand the company’s business during the coming period. Al Junaidi also noted that OSC has begun to make profit since the first year of its establishment and did not suffer from any losses…
OSC’s New Feeder Service Links Oman to UAE
Oman Shipping Company (OSC) is launching a new freight service linking all Omani ports to the United Arab Emirates by mid-April, 2016, in a move that aims to boost trade links. OSC’s new fortnightly Oman Express Service will be the first freight feeder operator to connect all Omani ports. It will be run by OSC subsidiary Oman Container Lines (OCL). OSC chief executive Tarik Mohamed Al Junaidi said the new service will be cheaper and faster than the road transport which currently handles all freight to the interiors.
Oman Shipping Names Two New Tankers
Oman Shipping Company (OSC) has performed the naming ceremony for two new product and chemical tankers – the Muscat Silver and Rustaq Silver. The ceremony took place at the Hyundai Mipo Dockyard in Ulsan, South Korea. OSC will now take delivery of the Muscat Silver as part of a deal which will see 10 MR tankers delivered to it over the next year. All the vessels will be chartered to Shell International Trading and Shipping Company Ltd for its Project Silver, which consists of 50 new-builds. They will each operate worldwide with 20-strong crews - including a number of Omani officers. The Muscat Silver and Rustaq Silver are both 183 metres in length and 32.2 metres wide, with a depth of 19.1 metres.
Oman Shipping Acquire 10 New Vessels
Ten new medium range product tankers will join the fleet of state-owned Oman Shipping Company (OSC) in the next one year, taking the total strength of the fleet to 53 from 43 now, reports Times of Oman. According to the chief executive officer of Oman Shipping Company Tarik Mohammed Al Junaidi, the company will receive all 10 vessels between November this year and November 2016. The new vessels will be managed by Oman Ship Management Company, a wholly-owned subsidiary of Oman Shipping Company. Al Junaidi said these ships are manufactured in South Korea by Hyundai. He said that about 2 years ago, Oman Shipping secured a deal with Shell for offering 10 mid-range product carriers.
China Rongsheng Delivers Two More VLOCC's
China Rongsheng Heavy Industries delivers the ninth and tenth 380,000-dwt class Very Large Ore Carriers (VLOCs). Christened Vale Jiangsu and Vale Shinas, the two new Rongsheng-built 380,000 DWT class VLOCs have been delivered to Vale S.A. and Oman Shipping Company S.A.O.C. respectively. Rongsheng say that the vessels adopt an environmentally friendly design to achieve lower oil consumption and reduce the emission of CO2, while operating efficiency exceeds that of most existing ore carriers.
China Rongsheng Delivers Fourth Vale VLOC
China Rongsheng Heavy Industries Group Holdings Limited has delivered the 380,000 dwt class Very Large Ore Carrier (VLOC) 'Vale Caofeidian' to Brazil's Vale S.A. The vessel is the fourth 380,000 DWT class VLOC delivered by the Group this year and its eleventh delivery of VLOC's overall. The Chinese shipbuilders have successfully delivered 11 VLOCs, while most of those remaining have been launched and are under outfitting process. The next VLOC delivering to Vale is also at its final stage for sea trial.
China Rongsheng Deliver Seventh VLOC
China Rongsheng Heavy Industries delivers a seventh 380,000 DWT class Very Large Ore Carrier (VLOC) to Vale. The new VLOC, christened Vale Shandong has been received by Vale S.A . As of 7 December 2012, China Rongsheng Heavy Industries has delivered a total of seven VLOCs, with one completed last year and six this year. On the same day, another VLOC built for Oman Shipping Company S.A.O.C. left for sea trials and will be received by the shipowner in the near future. Rongsheng-built VLOCs have an environmentally friendly design to lower oil consumption and reduce the emission of CO2…
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…
VLOC Delivered to Oman Shipping Co.
Oman Shipping Company (OSC) has taken delivery of its third Very Large Ore Carrier (VLOC) 'Vale Saham' in China. The giant bulk carrier will be used to transport iron ore from Brazil to Sohar, Oman. OSC has one more vessel of its class under construction at Jiangsu Rongsheng Heavy Industries Company in Nantong in China. Vale Saham, the new Rongsheng-built VLOC delivered to OSC adopts an environmentally friendly design to lower oil consumption and reduce the emission of CO2, while its operating efficiency exceeds that of most existing ore carriers.