EMEA News
Oman Shipping to Boost Tanker Fleet by 10
State-owned Oman Shipping Company S.A.O.C. (Oman Shipping) says its tanker fleet will receive ten newbuild medium-range tankers within the next year, boosting the company's fleet to 53 for a cost of $320 million, local news reports.
“Between November this year and November 2016, we will receive all 10 vessels. And these vessels will be managed by Oman Ship Management Company, a wholly-owned subsidiary of Oman Shipping Company,” said Tarik Mohammed Al Junaidi, acting CEO for Oman Shipping, noting the company secured a supporting deal with Shell two years ago for the ten carriers.
“These vessels carry refined petroleum products and the first delivery is going to be in November this year.”
The ships, which were constructed by Hyundai Heavy Industries Co., Ltd. in South Korea, will reportedly swell Oman Shipping’s fleet from 8 million DWT to 8.5 million DWT.
Al Junaidi says the company is pursuing expansion due to Oman’s growing “import and export requirements.”
“We started with Oman LNG (liquid natural gas), Oman Oil Company related products like SoharAluminum, Vale Oman and Salalah Methanol."
"Now the company is looking for opportunities in the international arena,” explained Al Junaidi, adding that the company is also hoping to provide ships to the proposed Dugm refinery, slated for 2019 completion.
“Duqm Refinery will require ships for transporting either crude or refined products outside. We are closely discussing with them.
“It all depends on how much is going to be exported and who is going to be their customers (regional or international firms). We want to be partners (in Duqm development).”
In July, Shipbroker Banchero Costa & Co. (Bancosta) warned that new product tanker orders could "kill" the opportunity for recovery in the market segment before it begins.
