S’hail Shipping acquires panamax bulker

S’hail Shipping acquires panamax bulker

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.

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.

Related Posts