S’hail Shipping acquires two panamax bulkers

Qatari bulker owner S’hail Shipping has entered into an agreement to acquire two modern bulk carriers for a total price of QR75m ($20.6m).

The two ships have been renamed to S’hail Al Rayan (76,629 dwt) and S’hail Al Dukhan (74,143 dwt) and are set to join the company’s fleet next month.

The latest acquisition will expand the company’s fleet to seven bulkers, comprising five panamaxes and two supramaxes.

“The company has till date transported globally about 4m 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,” said Mohamed Khalifa Al-Sada, chairman and managing director of S’hail Shipping.

“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,” Al-Sada added.