Oman Shipping Company takes delivery of Adam LNG

Oman Shipping Company takes delivery of Adam LNG

Oman Shipping Company (OSC) has taken delivery of one of the world’s most advanced fuel efficient LNG carriers – the Adam LNG. The 162,000 cubic metres capacity vessel was built by Hyundai Heavy  Industries (HHI) in Ulsan South Korea. It will operate worldwide with 25 crew including four Omani cadets, the company said in a press release.

OSC Acting Chief Executive Officer, Tarik Al Junaidi, said the Adam LNG is a powerful demonstration of the Muscat-based company’s ‘driving commitment to constant innovation’ in its fleet which now numbers 43 vessels and is one of the biggest in the Gulf (see factfile). He said the Adam LNG will be offered on the ‘open market’ to oil and gas companies worldwide.

OSC COO David Stockley said another prime benefit OSC can offer customers is in-house management through Oman Ship Management Company (OSMC), a fully-owned subsidiary of OSC. He said the Adam LNG will be managed by OSMC.

Mr Junaidi said a key dimension to OSC’s growth plans is the development of the Port of Duqm on the South West coast of the Arabian Sea.

Oman Shipping Company S.A.O.C. is a closed joint stock company, incorporated in 2003 and owned by the Government of the Sultanate of Oman through the Ministry of Finance (80%) and Oman Oil Company S.A.O.C. (20%). The Company is involved in Ship Owning, Ship Charteringand Ship Management activities through its Subsidiary Companies: Oman CharterCompany S.A.O.C. (OCC), Oman Ship Management Company S.A.O.C. (OSMC), and OmanContainer Line (OCL) S.A.O.C.

The Company launched with the acquisition of 6 LNG Vessels,employing them to transport Omani LNG to world markets, together with MitsuiO.S.K. Lines Ltd. (MOL) as its Joint Venture Partner. Existing LNG vessels are managed by OSMC, an ISM accredited Company. MOL provides service support to OSMC in matters of technical managementof the LNG vessels. The Company has since diversified into Crude Oil, Chemical,Dry Bulk, Container and General Cargo market segments.  By 2012, the Company expects to have 42 vessels under ownership and management.

The Company’s customers have included Shell, MitsubishiCorporation, Itochu Corporation, Oman LNG, Qalhat LNG, Petronet, Qatar Gas andOman Refinery & Petrochemical Company, to name a few.

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