Finance and InsuranceMiddle East

Oman Shipping secures $80m financing

Photo of Jason Jiang Jason JiangJanuary 2, 2020
31 Less than a minute

Oman Shipping Company, part of the ASYAD Group, has secured a $80m financing facility from Abu Dhabi Islamic Bank to finance a pair of VLCC tankers.

“It was important for us to find a trusted partner for our first Sharia-compliant ‘Ijara’ facility. ADIB’s team was able to provide a competitive ‘Ijara’ facility which served our needs, allowing us to finance two VLCC tankers and further support our expansion plans,” said Michael Jorgensen, CFO and acting CEO of Oman Shipping.

Oman Shipping currently operates a diversified fleet of 53 vessels.

Photo of Jason Jiang Jason JiangJanuary 2, 2020
31 Less than a minute
Photo of Jason Jiang

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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