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Qatar’s S’hail Shipping snaps up first ship

Qatar’s S’hail Shipping snaps up first ship

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Newly established S’hail Shipping of Qatar has been linked to its first ship. Sources say it has snapped up the 2001-built supramax Prabhu Daya for $5.5m from Indian owner Tolani.

At the end of last year S’hail said in a release that it planned to buy seven secondhand ships priced between $4.5m and $6m, searching for ships not older than 15 years for shipping construction materials in bulk. Then, the company said it was negotiating on the purchase of two ships – the Prabhu Daya appears to be the first confirmed acqusition.

Shortly after the company was established a meeting of shareholders was held at the Al Sultan Beach Resort in Al Khor where S’hail Shipping & Maritime Services chairman Mohamed Khalifa Abdullah al-Sada spoke about the need for such a company in Qatar’s maritime sector. He said Qatar’s urban development necessitated the shipping of gabbro, a type of rock, in large quantities. Now gabbro is being “heavily imported”, Al-Sada said, especially from the UAE.

Al-Sada also laid out a vision for the company to be on the Qatar Stock Exchange “within two years”.

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Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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