Oman Shipping Co has made its second VLCC newbuilding move of 2019 to accelerate the renewal of its tanker fleet.
It has placed a contract for a single tanker at Seoul-listed DSME, adding to a brace of new 300,000-dwt ships taken at the same yard in January.
The latest vessel have been placed with long-term charters now already in place for the full series of ships.
They will contribute a 10% increase in revenue following delivery, said a statement from parent ASYAD Group.
Abdulrahman Al Hatmi, chief executive of ASYAD, put pen to paper on the deal at the yard today.
“Oman Shipping Company’s capabilities and customer offering are growing from strength to strength in response to increasing demand,” he said in the statement.
“OSC’s fleet renewal programme reflects the company’s commitment to high-quality services, enhanced global connectivity and industry-leading competitiveness.”
DSME has secured orders for six other VLCCs this year and has built approaching 180 VLCCs in its history, according to data from Clarksons.
The shipbroker lists 26 VLCCs under construction at DSME, the largest orderbook in the industry ahead of Hyundai Heavy Industries, which is in the process of taking over its rival.
DSME VLCC clients include John Angelicoussis, Arne Fredly’s Hunter, Hartree Partners and Alpha Tankers.
Oman Shipping is seen by its parent as playing a central part in the country’s drive to be a top-ten global logistics hub.
It has 16 VLCCs in the water and is also active in the product tanker, VLOC and container markets.
Today Oman Shipping announced Ibrahim bin Bakheet al-Naziri would replace respected shipping man David Stockley as chief operating officer.
It credited Stockley with overseeing the company's growth from six vessels to almost 50 ships during his time in the post.
This article has been updated since first publication. It now correctly states Oman Shipping has added a single ship to its existing DSME order, rather than three fresh contracts.
