New contract of Oman Shipping Company for VLCCs

Oman Shipping Company has signed an agreement for the construction of three very large crude carriers (VLCCs) with South Korea’s Daewoo Shipbuilding & Marine Engineering.

The company already secured long-term contracts with international oil majors for all three 300,000 dwt ships, that were ordered as part of Omah Shipping’s fleet renewal strategy.

Featuring a length of 336 meters and a width of 60 meters, the new assets are expected to increase OSC’s competitive advantage in the market. Once operational, the three VLCC newbuilds would increase the company’s oil shipping revenues by 10 per cent.

Oman Shipping added that the new orders would also meet future environmental requirements – including IMO 2020 standards – as well as benefit from DSME’s market-leading efficient-design for newbuilds.

The company has a fleet of 50 vessels, including LNG and LPG carriers, VLCCs, tankers, VLOCs and containerships.

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