Qatar’s S’hail Shipping has confirmed the acquisition of a 2005-built 77,000 dwt panamax bulk carrier, expanding its fleet to five vessels.
The vessel will be renamed S’hail Al Wajbah, and is believed to be panamax bulker Double Prosperity, acquired from Japanese owner Yano Kaiun for around $10.6m as reported by Splash last month.
“In our voyage to expansion, we are extremely happy to get the support of Qatar Development Bank (QDB) to finance our 5th acquisition. The support of QDB to the company acknowledges the capabilities and strategic importance of the company in the growing role of Qatar’s trade and commerce in global economy,” said Mohamed Khalifa al-Sada, chairman and managing director of S’hail Shipping.
S’hail Shipping was established in 2016 with plans to acquire seven secondhand ships. The company secured a $19.2m loan from QDB in April for its fleet expansion.