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OSC-Emirates Trading Agency to set up shipping jv

OSC-Emirates Trading Agency to set up shipping jv

Muscat: Oman Shipping Company (OSC) and Emirates Trading Agency have formed a joint venture to establish two companies which are to ship alumina and methanol. OSC will own a 60% majority stake in the companies that plan to acquire two 55,000dwt dry bulk ships and two 50,000dwt chemical tankers to transport cargo for Sohar Aluminium and Salalah Methanol respectively. Production at former is slated to begin in 2008, while that at Salalah Methanol is expected to start in early 2010.

A spokesperson for OSC, which currently boasts a fleet of 20 tankers, told the Times Of Oman that the company also aims to supply shipping services for the numerous industrial projects currently under development in Oman.  [12/09/07]

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