Oman Shipping secures $80m financing

Oman Shipping Company, part of the ASYAD Group, has secured a $80m financing facility from Abu Dhabi Islamic Bank to finance a pair of VLCC tankers.

“It was important for us to find a trusted partner for our first Sharia-compliant ‘Ijara’ facility. ADIB’s team was able to provide a competitive ‘Ijara’ facility which served our needs, allowing us to finance two VLCC tankers and further support our expansion plans,” said Michael Jorgensen, CFO and acting CEO of Oman Shipping.

Oman Shipping currently operates a diversified fleet of 53 vessels.