S’hail Shipping has entered into agreements to purchase two modern dry bulk carriers worth nearly QR75mn.
This was announced by Mohamed Khalifa al-Sada, S’hail Shipping chairman and managing director here on Saturday.
Al-Sada said he expected the first ship ‘S’hail Al Rayan” (76,629 dwt) to be delivered in the first half of next month and the second vessel ‘S’hail Al Dukhan’ (74,143 dwt) to be delivered during the second half of June.
With the addition of these two ships, the company’s fleet size will increase to seven ships and the deadweight to 483,522 MT.
Al-Sada stated, “These additions will enhance the company’s capacity to globally transport dry bulk cargoes, resulting in increase in company’s revenue”.
The company is engaged in world-wide transportation of dry bulk cargoes such as wheat, grain, soyabean, coal, iron ore, “cement clicker”, gabbro and minerals etc.
Al-Sada said, “The company has till date transported globally about 4mn MT and that in consistence with Qatar’s 2030 vision, the company takes pride in increasing Qatar’s participation and role in global trading of dry bulk commodities.
“As a strategy to ensure proper management of risks from global trade, the company is also currently engaged in evaluating options to diversify into other segments of shipping and maritime business particularly in Qatar’s offshore sector.
“Clearly, the company has positioned itself to successfully navigate despite growing concerns to global trade.”
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Turkey’s current account deficit seen at $4bn in May
Doha Bank bid to bring in more financial firms from Japan to invest in Qatar’s capital market
Ooredoo, Batelco join hands to launch ‘Global Zone’ in Kuwait
Qatar Central Securities Depository registered QR600mn in treasury bills in June
Africa takes to the skies again; continent keeps guard up
Malaysia Aviation Group unveils ‘Fly Confidently’ campaign
US tech giants face hard choices under HK’s new security law
US-China rivalry broadening from trade to everything
Itochu makes $5.4bn bid for rest of Japan’s FamilyMart