Shell signed 3-year contract of affreightment with Oman Charter Company, which is subsidiary of Oman Shipping Company. According to the contract the world oil giant Shell will receive access to the VLCCs operated by Oman Charter Company for crude oil cargo transportation. The agreement provides also cargo base of Oman Shipping Company, which it needs to support its commercial operations and improve its finance positions. The finance details of the agreement were not released, but according to the officials it will grant benefits for the both sides, ensuring deliveries of Shell and strengthening its supply chain network.
In addition to the recent contract, Shell signed charter contract for ten Medium Range tankers of Oman Shipping Company.
“We are pleased to associate ourselves once again with Shell”, said the Chief Executive Officer of Oman Shipping Company, Tarik Al-Junaidi. “In addition to the 10 MR tankers that we have recently chartered to Shell, this COA demonstrates the ability of Oman Shipping Company and its subsidiaries to deliver top shipping solutions that meet the requirements of our esteemed clients. It is our endeavour to continuously provide our customers with reliable transportation services and to find mutual solutions that benefit both parties”, added he.
Oman Shipping Company is a closed joint stock company, owned by the Government of the Sultanate of Oman through the Ministry of Finance (80%) and Oman Oil Company (20%). The company is involved in ship owning, ship chartering and ship management activities through its subsidiaries Oman Charter Company, Oman Ship Management Company, and Oman Container Line (OCL).