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Oman Shipping Company invests in building three VLCC vessels

Sung Geun Lee, president and CEO of Daewoo Shipping & Marine Engineering, and Abdulrahman Al Hatmi, ASYAD group CEO, with a signed agreement. (Image source: Oman Shipping Company)

Oman Shipping Company (OSC), a member of the ASYAD group, has signed an agreement with South Korea?s Daewoo Shipbuilding & Marine Engineering (DSME) to build three very large crude carriers (VLCC) as part of a fleet renewal strategy

OSC, with its a range of economical and technologically-advanced vessels, is aiming to provide better services to the customers.

These three VLCC vessels once operational, OSC is expecting increase in company oil shipping revenues by 10 per cent as long-term contracts with international oil majors are in place for all ships.

Each of the vessels will be 336-meters-long and 60-meters-wide and will be able to hold 300,000 tonnes of cargo. All of the new orders are set to meet future environmental requirements ? including IMO 2020 standards ? as well as benefit from DSME?s design for newbuilds.

ASYAD?s OSC is eyeing to become a top-ten global logistics hub, supporting the integration of all supply chain activities in the Sultanate and providing customers with rapid distribution capabilities across the Middle East.