Oman Shipping confirms acquisition of ultramax pair

Oman Shipping has confirmed the acquisition of two ultramax bulk carriers, the 2015-built 63,700 dwt SBI Taurus and the 2014-built 63,600 dwt TR Omaha.

The two vessels were acquired from Greek owner Scorpio Bulkers and UK owner Tufton Oceanic respectively and they are set to join Oman Shipping’s fleet in in April and May. The vessels will be renamed to Jabal Samhan and Jabal Al Kawr.

The value of the deal was not disclosed.

Oman Shipping said the deal is in line with its business plan and will add to the company’s dry cargo capacity, meeting increasing customer demand and complementing the existing vessel portfolio to further contribute to the development of the local mining industry.

“From our perspective this is an opportune time to acquire assets given current market conditions, and we’re pleased with the outcome of our negotiations. We will explore opportunities for further acquisitions during the course of 2020,” Oman Shipping said in a release, adding that the company is also working towards expanding international shipping lines to connect Omani ports with global markets.