Oman Shipping Co. plans huge fleet expansion

The Oman Shipping Co. has indicated it will spend as much as $4 billion in the next three to four years to expand its fleet size, Reuters reported Monday.

Chief Financial Officer Kuldeep Mathur told the news service that the state-run shipping line's looking to grow its fleet mainly to meet demand for energy transportation. The expansion would include a recent order to build 10 Very Large Crude Carriers at a cost of $1.54 billion, Mathur said. OSC is also in discussions with the National Iranian Tanker Co. to secure long-term charters for at least five of the recently ordered supertankers, he added.

OSC's fleet includes seven LNG tankers, two clean tankers, four oil tankers along with a VLCC and Very Large Gas Carrier on the order book, Reuters said. 

Source: American Shipper