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Two Modern Ultramax Acquired by Oman Shipping Company in Dry Cargo Expansion

  • Oman Shipping Company (OSC) has acquired two additional modern Ultramax ships with a carrying capacity of DWT 64,000 per vessel as part of its Dry Cargo expansion program.

     

  • The 2 ships (SBI Taurus and TR Omaha) will be operational from the point of delivery, due to take place in April and May 2020.

     

  • The ships will be renamed to (JABAL SAMHAN & JABAL AL KAWR) once joined to reflect the greatness of Omani Mountains and its rich minerals.

     

  • These ships will add capacity to OSC’s existing fleet bringing the total Dry Bulk Ultramax fleet to 6 vessels and OSC’s total operating fleet to 55 world-class vessels including LNG Carriers, LPG Carriers, VLCCs, Tankers, VLOCs, Dry Cargo, and Container ships.

     

  • These new deliveries reflect OSC’s ongoing efforts to expand its Dry Bulk business activities and contribute to the development of Oman’s mining industry and provide shipping solutions to Oman’s Dry Bulk imports and exports.

Oman Shipping Company (OSC), a member of the ASYAD Group, has today formally confirmed 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.

Today’s 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. This will also support OSC’s reputation as a key shipping service provider regionally and internationally.

  A statement from Oman Shipping Company 

“We are pleased to announce the significant acquisition of these two modern Ultramax vessels as part of our Dry Cargo expansion program. From our perspective this is an opportune time to acquire assets given current market conditions, and we’re pleased with the outcome of our negotiations. We will explore opportunities for further acquisitions during the course of 2020.”

“Oman Shipping Company continues to play an important role within ASYAD Group- providing its global customers with integrated market-leading logistics solutions. The company also works towards expanding international shipping lines to connect Omani ports with global markets”.

ASYAD’s OSC is an integral part of Oman’s drive to become a top-ten global logistics hub and is supporting the integration of all supply chain activities in the Sultanate – providing customers with rapid and unrivalled distribution capabilities across the Middle East, as well as acting as the region’s gateway to global markets. OSC is a full-scale shipping company handling ship owning, technical ship management and commercial cargo operation.

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