Oman Shipping Company readies bulk and box fleet diversification

Oman Shipping Company readies bulk and box fleet diversification

Oman Shipping Company (OSC) is plotting a fleet diversification into dry bulk and containers. The Middle Eastern owner yesterday confirmed orders reported by Splash earlier this month for two VLCCs at South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).

OSC’s CFO and acting CEO Michael Jorgensen said the newbuilds are expected to be deployed in the spot market, as the company plots further fleet expansion in the bulk and container market.

The 320,000 dwt scrubber-fitted VLCCs will add to OSC’s expanding fleet of 49 vessels including 16 VLCCs, 17 product tankers and four chemical carriers.

“They will form a key part of our expansion plan over the coming years as we prepare for further investment in oil and product carriers in 2019/2020, particularly in the bulk and container market,” Jorgensen said.

Jorgensen revealed state-run OSC has seen significant growth from a new VLCC spot chartering desk which secured more than 100 fixtures with oil majors in its first 20 months of operation.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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